The ACI Dealing Certificate is very passable. But that doesn't mean it's easy. Many candidates preparing for the exam already work in banking, Treasury, financial markets or operations. They understand the terminology and recognise most of the products. Then they sit the exam — and discover that recognising a subject and being able to answer an exam question about it are two very different things. Here are five of the most common reasons candidates come unstuck — and what you can do about...

Risk management is heavily tested and often underestimated. Market risk, credit risk, liquidity risk and operational risk must be clearly distinguished. Tools such as VaR, limits and stress testing appear frequently. These sections reward clarity, not calculation. Liquidity risk refers to: A. Default risk B. Market volatility C. Inability to fund or exit positions D. Operational failure ✅ Answer: C

For many candidates, the Derivatives section of the ACI Dealing Certificate can seem intimidating. Terms such as futures, swaps and options often sound complex, leading candidates to expect difficult calculations and advanced mathematics. Fortunately, the reality is much simpler. The ACI exam focuses on understanding how these instruments work, why market participants use them, and how they help manage financial risk. Futures: Locking in Future Prices A futures contract is an agreement to buy...