Well, no, it's not just having the phone and the passcode to the phone, you're supposed to use the "something you have" to get the other passcode, like a fob or whatever. The way I've seen it done is, I enter a password, then that sends a second passcode to my phone, which I then enter where I entered the passcode. I would need the PIN for my phone to get to the text, so just having access to my phone is insufficient.