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Answer: Provide a means for customers to obtain price quotes from an area independent of the front office.
## Explanation The Bankers' Trust case study from the 1990s revealed several important risk management lessons: - **Option A** is a valid lesson: Complex transactions do make comparison shopping difficult and increase client dependency on advisors. - **Option C** is a valid lesson: The case highlighted how internal communications (emails, tapes) became public evidence, emphasizing the need for caution in all communications. - **Option D** is a valid lesson: Some complex financial products were found to have costs that outweighed their benefits. - **Option B** is the EXCEPTION: The lesson from Bankers' Trust was actually the OPPOSITE - they did NOT provide independent price verification. The firm was criticized for not allowing clients to obtain independent price quotes, which would have revealed the true costs and risks of the complex transactions. The key insight is that Bankers' Trust's failure to provide independent price verification was part of the problem, not a lesson learned from the case.
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Allen is studying cases of financial disasters. According to his study, lessons learned from Bankers' Trust included each of the following EXCEPT for:
A
Complex transaction make comparison shopping difficult and make clients more dependent on advisor.
B
Provide a means for customers to obtain price quotes from an area independent of the front office.
C
People and firms should be cautious about communications (e.g., email) that can later be made public.
D
Some transactions are sufficiently complex that their costs outweigh their benefits.
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