Learn How to Pass The ACI Dealing Certificate Exam - A Practical Guide

The ACI Dealing Certificate is not an academic theory test.

It is a practitioner’s exam designed to confirm that you understand how real financial markets operate day to day. Candidates who fail usually do so not because the material is too hard, but because they prepare in the wrong way.

Here is a practical, no-nonsense approach that works.

First, understand the structure of the exam. The paper is split into five sections: Financial Markets Environment, Foreign Exchange, Rates, FICC Derivatives, and Financial Markets Applications.

You must score at least 50% in each section, not just overall. This means you cannot afford to ignore a weak area and hope to compensate elsewhere.

Second, think like a dealer, not a student. Many questions test judgement rather than formulas. You will be asked what a trader, dealer, or treasury professional would actually do in a given situation.

When revising, always ask yourself: Why does this instrument exist? Who uses it? What problem does it solve?

Third, master the core mechanics. You do not need advanced mathematics, but you must be fluent in basics: FX spot and forward pricing, interest-rate conventions, day-count bases, yield relationships, and simple swap logic. These are frequent and easy marks if properly understood.

Fourth, use mock exams properly. Don’t just check your score. Review every wrong answer and understand why the correct option is correct. The ACI often tests common operational and market misconceptions—exactly the traps mock exams should expose.

Finally, exam technique matters. Read questions slowly, watch units and conventions, and eliminate obviously wrong answers first.

The exam rewards calm, methodical thinking under time pressure.

If you prepare with a market-focused mindset, structured revision, and disciplined practice, the ACI Dealing Certificate is absolutely passable—even on your first attempt.

Exam Technique

What is the most effective first-pass strategy in the ACI exam?

A. Answer calculations first

B. Answer what you know instantly

C. Start with derivatives

D. Skip theory

Answer: B