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The physics of quantum dots is succinctly depicted by the {\it Universal Hamiltonian}, where only zero mode interactions are included. In the case where the latter involve charging and isotropic spin-exchange terms, this would lead to a non-Abelian action. Here we address an Ising spin-exchange interaction, which leads to an Abelian action. The analysis of this simplified yet non-trivial model shed some light on a more general case of charge and spin entanglement. We present a calculation of the tunneling density of states and of the dynamic magnetic susceptibility. Our results are amenable to experimental study and may allow for an experimental determination of the exchange interaction strength., Comment: 11 pages, 7 figures