Business Code Of Conduct 2017 Employee Quiz

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Business Code Of Conduct 2017 Employee Quiz - Quiz


Questions and Answers
  • 1. 

    Employees, officers and directors must use their positions, or knowledge gained through their employment with the Company, for private or personal advantage.

    • A. 

      True

    • B. 

      False

    Correct Answer
    B. False
    Explanation
    Employees, officers, and directors must not use their positions or knowledge gained through their employment with the Company for private or personal advantage. This means that they should not exploit their roles or the information they have access to for their own personal gain. Instead, they should act in the best interest of the Company and its stakeholders.

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  • 2. 

    If the employee fails to comply with the Code, which of the following measures may be taken?

    • A. 

      Warning

    • B. 

      Revision of responsibilities

    • C. 

      Suspension

    • D. 

      Dismissal without further notice

    • E. 

      All of above

    Correct Answer
    E. All of above
    Explanation
    If an employee fails to comply with the Code, all of the measures mentioned can be taken. A warning can be issued as a first step to address the non-compliance and give the employee an opportunity to rectify their behavior. If the non-compliance continues, the employee's responsibilities may be revised to ensure they understand and meet the expected standards. Suspension may be imposed as a more serious consequence, temporarily removing the employee from their duties. In extreme cases, dismissal without further notice may be considered as the final measure if the employee's non-compliance is severe and persistent.

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  • 3. 

    Unless required, when client or company information is no longer required, what must the employee do?

    • A. 

      Dispose of it

    • B. 

      Provide it to his/her manager

    • C. 

      Shred it immediately

    • D. 

      Any of the above

    Correct Answer
    C. Shred it immediately
    Explanation
    When client or company information is no longer required, the employee must shred it immediately. Shredding the information ensures that it cannot be accessed or used by unauthorized individuals, protecting the privacy and security of the clients and the company. Simply disposing of the information or providing it to the manager may leave it vulnerable to misuse or unauthorized access. Therefore, shredding is the appropriate action to take in order to properly dispose of sensitive information.

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  • 4. 

    It is fundamental to the fair treatment of clients and their investors that the highest standards of integrity and ethical business conduct be maintained. This can only be achieved by the directors, officers and employees of Excel Funds Management Inc. and Excel Investment Counsel Inc.

    • A. 

      True

    • B. 

      False

    Correct Answer
    A. True
    Explanation
    The statement emphasizes the importance of maintaining high standards of integrity and ethical business conduct in order to ensure fair treatment of clients and investors. It states that this can only be achieved by the directors, officers, and employees of Excel Funds Management Inc. and Excel Investment Counsel Inc. Therefore, the correct answer is True, as it aligns with the principle of maintaining integrity and ethical conduct in business dealings.

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  • 5. 

    The following are considered principles of Privacy and Confidentiality:

    • A. 

      Disclosure of Information

    • B. 

      Company & Trading Information

    • C. 

      Accuracy of Information

    • D. 

      Both B & C

    Correct Answer
    D. Both B & C
    Explanation
    The principles of Privacy and Confidentiality include the disclosure of information, as well as the accuracy of information. Company and trading information falls under the category of disclosure of information, while ensuring the accuracy of information is crucial in maintaining privacy and confidentiality. Therefore, the correct answer is Both B & C.

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  • 6. 

    Restricted securities include the following:

    • A. 

      Convertible bonds

    • B. 

      Government bonds issued by governments outside of Canada

    • C. 

      Corporate bonds

    • D. 

      All of the above

    Correct Answer
    D. All of the above
    Explanation
    The correct answer is "All of the above". Restricted securities refer to securities that cannot be easily traded on the open market due to certain restrictions or regulations. In this case, all the options listed - convertible bonds, government bonds issued by governments outside of Canada, and corporate bonds - can be considered as restricted securities due to their specific characteristics or regulations governing their trade.

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  • 7. 

    Activities which place an employee in a position of conflict with the best interest of the Company's clients may be prohibited even if it is not listed in the code, subject to the review of the Chief Compliance Officer.

    • A. 

      True

    • B. 

      False

    Correct Answer
    A. True
    Explanation
    The statement suggests that activities that create conflicts of interest with the company's clients can be prohibited, even if they are not explicitly mentioned in the code of conduct. The final decision on whether such activities are prohibited or not lies with the Chief Compliance Officer, who will review the situation. Therefore, the answer is true.

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  • 8. 

    "Front-Running” is not only a breach of our Code, but is generally punishable under Canada's securities legislation.

    • A. 

      True

    • B. 

      False

    Correct Answer
    A. True
    Explanation
    Front-running refers to the unethical practice of a broker executing orders on a security for their own account while taking advantage of advance knowledge of pending orders from their clients. This activity is considered a breach of the Code of Conduct and is also punishable under Canada's securities legislation. Therefore, the statement that front-running is not only a breach of the Code but also punishable under Canada's securities legislation is true.

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  • 9. 

    Any violations of the personal trading rules which comes to the attention of a director, officer, or employee must be reported to the: 

    • A. 

      Board of Directors

    • B. 

      Chief Compliance Officer

    • C. 

      IRC

    • D. 

      All of the above

    Correct Answer
    B. Chief Compliance Officer
    Explanation
    Any violations of personal trading rules must be reported to the Chief Compliance Officer. The Chief Compliance Officer is responsible for ensuring that the organization and its employees comply with all applicable laws, regulations, and internal policies. Reporting violations to the Chief Compliance Officer ensures that appropriate action can be taken to address and rectify any breaches of personal trading rules.

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  • 10. 

    What is the ownership of securities held by a member of an Access Person's family (child, spouse, common law relationships, parent, etc.) sharing the same household as the employee known as:

    • A. 

      Conflict of Interest

    • B. 

      Beneficial Interest

    • C. 

      Prohibited Trading

    • D. 

      Breach of Code

    Correct Answer
    B. Beneficial Interest
    Explanation
    Beneficial Interest refers to the ownership of securities held by a member of an Access Person's family who shares the same household as the employee. This means that the family member has a financial interest in the securities, which could potentially create a conflict of interest for the employee. It is important to disclose and manage such beneficial interests to avoid any unethical or illegal activities, as it could be seen as a breach of code or prohibited trading.

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  • 11. 

    Violence in the workplace includes the following:

    • A. 

      Verbal expression to harm

    • B. 

      Written expression to harm

    • C. 

      Stalking

    • D. 

      A & B

    • E. 

      All of the above

    Correct Answer
    E. All of the above
    Explanation
    The correct answer is "All of the above" because violence in the workplace can take various forms, including verbal expression to harm, written expression to harm, and stalking. This means that any type of harmful communication, whether spoken or written, as well as persistent and unwanted attention or harassment, can be considered as workplace violence. Therefore, all the options listed in the question are valid examples of workplace violence.

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  • 12. 

    Maintaining the confidentiality of customer, employee and supplier information is a key requirement for any information exchange.

    • A. 

      True

    • B. 

      False

    Correct Answer
    A. True
    Explanation
    Maintaining the confidentiality of customer, employee, and supplier information is crucial for any information exchange because it ensures the protection and privacy of sensitive data. This requirement helps to build trust and credibility among stakeholders, as it prevents unauthorized access, data breaches, and identity theft. By upholding confidentiality, organizations can safeguard personal and financial information, maintain compliance with privacy laws, and avoid potential legal and reputational risks. Therefore, it is essential to prioritize the confidentiality of customer, employee, and supplier information in any information exchange.

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  • 13. 

    Shareholdings in excess of ___ in any public company in which Excel funds or its Funds own securities is considered a personal conflict of interest.

    • A. 

      15%

    • B. 

      20%

    • C. 

      10%

    • D. 

      5%

    Correct Answer
    D. 5%
    Explanation
    Shareholdings in excess of 5% in any public company in which Excel funds or its Funds own securities is considered a personal conflict of interest. This means that if Excel funds or its Funds hold more than 5% of the shares in a public company, it could create a conflict of interest for them. This is because they would have a significant ownership stake in the company, which could potentially influence their decision-making and actions in a way that may not align with the best interests of other shareholders.

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  • 14. 

    Are all employees at Excel Funds Management Inc. and Excel Investment Counsel Inc considered "Access Persons", as defined in the Business Code of Conduct?

    • A. 

      True

    • B. 

      False

    Correct Answer
    A. True
    Explanation
    All employees at Excel Funds Management Inc. and Excel Investment Counsel Inc. are considered "Access Persons" as defined in the Business Code of Conduct. This means that they have access to confidential information and are subject to certain restrictions and guidelines outlined in the code.

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  • 15. 

    Are Access Persons required to report any trades or holdings in their Company's group RRSP account?

    • A. 

      Yes

    • B. 

      No

    Correct Answer
    B. No
    Explanation
    Access Persons are not required to report any trades or holdings in their Company's group RRSP account. This suggests that Access Persons are not obligated to disclose any information regarding their investments or transactions within their Company's group RRSP account.

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  • 16. 

    Employees may not trade securities for any purpose when they are in possession of material non-public information (commonly known as "insider trading").

    • A. 

      True

    • B. 

      False

    Correct Answer
    A. True
    Explanation
    The statement is true because insider trading refers to the act of trading securities based on material non-public information, which gives the trader an unfair advantage over other market participants. It is illegal and unethical for employees to engage in insider trading as it undermines the fairness and integrity of the financial markets. Therefore, employees should refrain from trading securities when they possess such information to avoid legal and ethical consequences.

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  • 17. 

    During work hours, an employee must not access the company's internet to do which of the following:

    • A. 

      Accessing or using pirated software

    • B. 

      Illicit or any inappropriate websites

    • C. 

      Personal trading

    • D. 

      All of the above

    Correct Answer
    D. All of the above
    Explanation
    During work hours, an employee must not access the company's internet to do any of the mentioned activities. Accessing or using pirated software is illegal and unethical, as it infringes on copyright laws. Visiting illicit or inappropriate websites is not only unprofessional but also poses a risk to the company's network security. Engaging in personal trading during work hours is a misuse of company resources and can lead to conflicts of interest. Therefore, all of the mentioned activities should be avoided while using the company's internet during work hours.

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  • 18. 

    Prior to posting any work-related social media posts, who must the employee contact for pre-approval?

    • A. 

      Manager

    • B. 

      Chief Compliance Officer

    • C. 

      Not required - an employee is allowed to post material on company social media sites

    Correct Answer
    B. Chief Compliance Officer
    Explanation
    The Chief Compliance Officer must be contacted for pre-approval before posting any work-related social media posts. This is because the Chief Compliance Officer is responsible for ensuring that the company complies with all relevant laws and regulations. By seeking pre-approval from the Chief Compliance Officer, the employee can ensure that their social media posts do not violate any legal or ethical guidelines.

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  • 19. 

    An example of workplace harassment includes the following:

    • A. 

      Demanding a hug

    • B. 

      Demanding a date

    • C. 

      Sexual jokes

    • D. 

      A & C

    • E. 

      All of the above

    Correct Answer
    E. All of the above
    Explanation
    The correct answer is "All of the above" because workplace harassment can take various forms, including demanding physical contact like a hug, demanding a romantic relationship like a date, and making inappropriate sexual jokes. All of these behaviors can create a hostile and uncomfortable work environment, and are considered forms of harassment.

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  • 20. 

    Employee formal reviews are intended to supplement, not replace, day-to-day performance feedback.

    • A. 

      True

    • B. 

      False

    Correct Answer
    A. True
    Explanation
    Employee formal reviews are intended to supplement day-to-day performance feedback rather than replace it. This means that while formal reviews provide a structured evaluation of an employee's performance over a specific period, they are not meant to be the only source of feedback. Instead, day-to-day feedback allows for continuous communication and improvement, while formal reviews provide a more comprehensive assessment. By supplementing day-to-day feedback with formal reviews, organizations can ensure a holistic approach to employee performance management.

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  • 21. 

    Anonymous complaints reporting an incident will not be investigated unless there are extenuating circumstances.

    • A. 

      True

    • B. 

      False

    Correct Answer
    A. True
    Explanation
    Anonymous complaints reporting an incident will not be investigated unless there are extenuating circumstances means that if someone submits a complaint without revealing their identity, the complaint will not be pursued or looked into unless there are exceptional reasons to do so. This is because anonymous complaints can be difficult to verify or follow up on, and without additional factors that make the complaint more serious or credible, it may not be worth the resources to investigate. Therefore, the statement is true.

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  • 22. 

    Employees are required to report absences and/or tardiness to their department head no later than __ before the agreed upon daily start time.

    • A. 

      2 hours

    • B. 

      1 hour

    • C. 

      3 hours

    • D. 

      1/2 hour

    Correct Answer
    B. 1 hour
    Explanation
    Employees are required to report absences and/or tardiness to their department head no later than 1 hour before the agreed upon daily start time. This allows the department head enough time to make necessary adjustments to work schedules or find a replacement if needed. Reporting absences or tardiness within this timeframe ensures effective communication and minimizes disruption to the workflow.

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  • 23. 

    Any unused portion of an employer's vacation entitlement will be carried forward into the subsequent year.

    • A. 

      True

    • B. 

      False

    Correct Answer
    B. False
    Explanation
    The statement is false because not all employers allow their employees to carry forward their unused vacation entitlement into the subsequent year. Some employers may have policies that require employees to use their vacation time within the current year or forfeit it. Therefore, it cannot be assumed that all employers will allow the carry forward of unused vacation entitlement.

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  • 24. 

    If an employee is scheduling a vacation that is longer than two (2) consecutive weeks, are they required to get the approval of both the CEO and the employee's manager?

    • A. 

      Yes

    • B. 

      No

    Correct Answer
    B. No
    Explanation
    No, if an employee is scheduling a vacation that is longer than two consecutive weeks, they are not required to get the approval of both the CEO and the employee's manager.

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  • 25. 

    At company functions where alcohol is served, the Company may take the following actions:

    • A. 

      Prevent an attendee who shows signs of impairment from leaving the event unaccompanied

    • B. 

      Prevent an attendee from continuing to consume alcohol

    • C. 

      Provide a selection for non-alcoholic beverages as alternatives

    • D. 

      Both B & C

    • E. 

      All of the above

    Correct Answer
    E. All of the above
    Explanation
    The company may take all of the mentioned actions at company functions where alcohol is served. They may prevent an attendee who shows signs of impairment from leaving the event unaccompanied to ensure their safety. They may also prevent an attendee from continuing to consume alcohol if they are already showing signs of impairment. Additionally, the company may provide a selection of non-alcoholic beverages as alternatives for those who do not wish to consume alcohol. Therefore, the correct answer is "All of the above."

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  • 26. 

    If an employee is found to have deliberately or negligently made a frivolous claim or false accusation, that employee will be subject to appropriate disciplinary action, which may include termination.

    • A. 

      True

    • B. 

      False

    Correct Answer
    A. True
    Explanation
    If an employee is found to have deliberately or negligently made a frivolous claim or false accusation, they will face disciplinary action, which could potentially lead to termination. This means that if an employee intentionally or carelessly makes a baseless complaint or untrue allegation, they will be held accountable and may lose their job as a consequence.

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  • 27. 

    Which components are the technology and information assets of the company made up of?

    • A. 

      Application Software

    • B. 

      Computer Hardware

    • C. 

      System Software

    • D. 

      All of the above

    Correct Answer
    D. All of the above
    Explanation
    The technology and information assets of a company are made up of various components, including application software, computer hardware, and system software. Application software refers to programs and applications that are designed to perform specific tasks or functions, such as word processing, accounting, or customer relationship management. Computer hardware includes physical devices and equipment, such as computers, servers, and networking devices. System software comprises the operating systems and utility programs that manage and control the computer hardware and provide a platform for running application software. Therefore, all of the above options are correct as they represent the different components that make up the technology and information assets of a company.

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  • 28. 

    What is example of an externally accessible system to the public?

    • A. 

      S-Drive

    • B. 

      Sharepoint webpage

    • C. 

      Corporate website

    • D. 

      All of the above

    Correct Answer
    C. Corporate website
    Explanation
    A corporate website is an example of an externally accessible system to the public because it is a website that is designed for the general public to access and interact with. It is accessible through the internet and provides information about the company, its products or services, and may also include features such as online shopping or customer support. S-Drive and Sharepoint webpage are not necessarily accessible to the public as they are typically used for internal purposes within an organization.

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  • 29. 

    I should provide my computer login information to:

    • A. 

      I should not provide my computer login information to anybody

    • B. 

      My manager

    • C. 

      Colleagues in my department only

    • D. 

      My next of kin

    Correct Answer
    A. I should not provide my computer login information to anybody
    Explanation
    It is important to keep computer login information confidential and not share it with anyone, including managers, colleagues, or even next of kin. Sharing login information can lead to unauthorized access to personal or sensitive information, potential security breaches, and misuse of the computer system. It is best to follow security protocols and only provide login information when necessary and to authorized individuals or systems.

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  • 30. 

    I should not use the Internet at work for:

    • A. 

      Communication with business vendors

    • B. 

      Finding relevant technical and business topics

    • C. 

      Track down an advisor who has moved

    • D. 

      Search for pornographic content

    Correct Answer
    D. Search for pornographic content
    Explanation
    Using the Internet at work for searching for pornographic content is inappropriate and goes against professional conduct. It is important to maintain a professional environment and adhere to company policies and guidelines. Engaging in such activities can lead to disciplinary action, damage the reputation of the individual and the organization, and create a hostile work environment. Therefore, it is crucial to refrain from using the Internet at work for searching for pornographic content.

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  • 31. 

    Violation of the company's cybersecurity policy may result in:

    • A. 

      Written warning

    • B. 

      Dismissal

    • C. 

      Suspension

    • D. 

      All of the above

    Correct Answer
    D. All of the above
    Explanation
    Violation of the company's cybersecurity policy may result in a written warning, dismissal, or suspension. This means that if an employee breaches the cybersecurity policy, they may receive a warning in writing, be fired from their job, or face a temporary suspension from work. All of these consequences are possible outcomes for individuals who do not comply with the company's cybersecurity policy.

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  • 32. 

    If my company assigned computer equipment is lost or stolen, I should:

    • A. 

      Continue working without a computer

    • B. 

      Notify my manager/head of IT

    • C. 

      Attempt to track it down using my investigative abilities

    • D. 

      Replace it with my own system

    Correct Answer
    B. Notify my manager/head of IT
    Explanation
    In the event that my assigned computer equipment is lost or stolen, it is important to notify my manager or the head of IT. This is crucial as they need to be made aware of the situation in order to take appropriate actions such as reporting the incident, initiating an investigation, and potentially providing a replacement system. Continuing to work without a computer or attempting to track it down on my own may not be the most effective or secure course of action, as it is important to involve the relevant authorities and follow company protocols.

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  • 33. 

    A public Web server with no confidential information stored on it has a security level classification of:

    • A. 

      BLACK

    • B. 

      RED

    • C. 

      GREEN

    • D. 

      WHITE

    Correct Answer
    A. BLACK
    Explanation
    A public Web server with no confidential information stored on it is classified as BLACK. The BLACK classification indicates that the server has the lowest level of security and does not require any special protection measures. Since there is no confidential information stored on the server, it does not need to meet any specific security requirements and can be accessible to the public without any restrictions.

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  • 34. 

    Users cannot install unauthorized software on their company PC, unless:

    • A. 

      A third-party vendor requires them to

    • B. 

      They find a way to bypass system security

    • C. 

      They have consent from their manager/head of IT

    • D. 

      They feel like the software is safe to install

    Correct Answer
    C. They have consent from their manager/head of IT
    Explanation
    Employees can only install unauthorized software on their company PC if they have obtained permission from their manager or the head of IT. This implies that the installation of software is strictly regulated within the company and requires authorization from higher authorities. The other options, such as a third-party vendor requirement or bypassing system security, do not justify the installation of unauthorized software. Additionally, the personal belief of the employee regarding the safety of the software is not a valid reason to install it without consent.

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  • 35. 

    I am allowed to log on as System Administrator on my company PC if:

    • A. 

      I managed to find the System Administrator username and password

    • B. 

      I received consent from my manager to do so

    • C. 

      I feel like I should have the right to, since the PC was assigned to me

    • D. 

      Never

    Correct Answer
    D. Never
    Explanation
    The correct answer is "Never" because logging on as a System Administrator on a company PC without proper authorization is a violation of security protocols. Accessing the System Administrator account without permission can lead to unauthorized changes, potential security breaches, and misuse of privileges. It is important to adhere to company policies and procedures regarding system access to maintain the integrity and security of the network.

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  • 36. 

    An example of a security incident is:

    • A. 

      A distributed denial of service attack against a company server

    • B. 

      Malicious use of system resources to launch a cybernetic attack

    • C. 

      Damage to company equipment caused due to illegal access

    • D. 

      All of the above

    Correct Answer
    D. All of the above
    Explanation
    The correct answer is "All of the above". This is because all three options listed - a distributed denial of service attack, malicious use of system resources, and damage to company equipment caused by illegal access - are examples of security incidents. These incidents involve unauthorized access or attacks on a company's systems or equipment, compromising their security and potentially causing harm or disruption.

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  • 37. 

    An employee's excessive or inappropriate use of their cellphones may result in disciplinary repercussions, up to and including termination.

    • A. 

      True

    • B. 

      False

    Correct Answer
    A. True
    Explanation
    Excessive or inappropriate use of cellphones by employees can lead to disciplinary consequences, including termination. This implies that the statement is true. Employers have the right to establish policies regarding cellphone usage in the workplace to ensure productivity and maintain a professional environment. Violating these policies can result in disciplinary actions, which may escalate to termination if the issue persists.

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  • 38. 

    Employees may share a post on social media which may directly or indirectly promote a specific Excel Funds investment product or highlight product performance.

    • A. 

      True

    • B. 

      False

    Correct Answer
    B. False
    Explanation
    The statement is false because employees should not promote specific investment products or highlight product performance on social media. This could be seen as a conflict of interest and may violate regulations or company policies. Employees should maintain professionalism and avoid any actions that could be perceived as biased or misleading.

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  • 39. 

    Excessive absenteeism and/or chronic tardiness is tolerated at Excel Funds and will not result in disciplinary action and/or dismissal at the discretion of the firm.

    • A. 

      True

    • B. 

      False

    Correct Answer
    B. False
    Explanation
    The statement suggests that excessive absenteeism and chronic tardiness are tolerated at Excel Funds and will not lead to any disciplinary action or dismissal. However, the correct answer is False because the statement contradicts common workplace practices. In most professional settings, excessive absenteeism and chronic tardiness are considered unacceptable and can result in disciplinary action or even dismissal.

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  • 40. 

    Employees are entitled to FIVE "Sick Days" and FIVE "Personal Days" per year.

    • A. 

      True

    • B. 

      False

    Correct Answer
    B. False
    Explanation
    The statement is false because the employees are entitled to a total of ten days off, which includes both sick days and personal days. It is not specified how many days are allocated for each category, so it is incorrect to say that they are entitled to five sick days and five personal days separately.

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