A dealer has been invited by a broker to go to an exclusive club for the third time in a week. He should:

Answer(s): B

What does the Model Code recommend regarding “entertainment and gifts”?

Management should monitor the form, frequency and cost of entertainment and gifts dealers receive, have a clearly articulated policy towards the giving/receipt of gifts and ensure the policy is enforced.
As gifts and entertainment may be offered in the normal course of business, employees can offer inducements to conduct business and solicit them from the personnel of other institutions.
Although management should not monitor the form, frequency or cost of entertainment/gifts dealers receive, they may have a policy towards the giving/receipt of gifts and ensure the policy is enforced.
Gifts or entertainment should never be offered in the normal course of business, and employees must never offer any inducements to conduct business, nor solicit them from other institutions.

Answer(s): C

Which one of the following is a major objective of ACI-The Financial Markets Association?

to promote globalization and deregulation of the financial markets
to maintain the professional level of competence and to disseminate a high level of ethical and professional behavior
to act as the official international market regulator in the absence of government regulation
to become the sole global corporation of wholesale financial market professionals

Answer(s): B