Which statement about MSRB gift limits is true?

• A. The MSRB imposes no gift limits
• B. The MSRB sets a $100 gift limit
• C. The MSRB sets a $500 gift limit
• D. The MSRB prohibits gifts altogether

Answer: (B)

Gifts to municipal finance professionals are kept modest to prevent any impression of improper influence. The MSRB sets a fixed annual ceiling on the value of gifts, gratuities, and non-cash items given to a single recipient in a calendar year, and cash gifts are not allowed. That ceiling is $100 per recipient per year, which is why the statement reflecting a $100 limit is correct. It isn’t that there is no limit, nor a $500 limit, nor an outright prohibition of gifts—the rule provides a specific annual cap to keep interactions professional and above reproach.