How should price quotes and opinions be presented to avoid deception?

• A. Quotes may be exaggerated to attract investors.
• B. Opinions should be presented without any basis in market data.
• C. Quotes must be fair, accurate, and not misrepresent terms or pricing.
• D. Pricing terms can be omitted if unfavorable.

Answer: (C)

Quotes and opinions must be presented fairly, accurately, and not misleading. This means a quote should reflect current market terms and be based on reliable data, with all material terms disclosed—price or yield, settlement terms, maturity, call features, and any adjustments or special conditions. Opinions about value or pricing should be grounded in market data and analysis, not stated as guarantees or certainties. Exaggerating a quote, omitting important terms, or presenting speculative statements as facts would mislead investors and violate the obligation to deal fairly. In short, only quotes that are fair, accurate, and not misrepresenting terms or pricing meet the standard, helping investors make informed decisions.