1. What is the main difference between the early earning years and family commitment years?

a. Marital status b. Financial constraints c. Income level d. Age

2. The transfers department of a sell-side trading firm process the transfers for clients who are either transferring assets in or out of their firm. Employees in this department have no client contact, working exclusively with the advisors and the transfers departments of other firms. In which 'office' do you think the transfers department is most likely located?

a. Middle Office b. Front Office c. There is not enough information to determine d. Back Office

3. You receive a call from one of your clients. You have not spoken to them in over 2 years. They want to redeem some units of a mutual fund. As you collect the information, you also check with the client to see whether anything material has changed in their life, such as employment or health. Which standard of conduct does this align with?

a. Integrity b. It does not align with any standard of conduct c. Professionalism d. Duty of Care

4. Sam wants to start up a new Hedge Fund and is interviewing several sell-side firms to decide which one he would like to use as his primary trading firm. Which of the following is most likely not a feature he will be looking for during the interviews?

a. Access to dark pools to facilitate block trades b. Maintaining inventory in securities Sam will be trading c. Prime Brokerage availability d. High TCA