Agent/Broker BIC Code
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Questions and Answers

What should be done if the Agent/Broker BIC code is not valid in ISO/BANCS?

  • Contact the issuing authority (correct)
  • Change the BIC code
  • Delete the BIC code
  • Ignore the error

    • What is the BIC code used for in ISO/BANCS?

  • To track transactions
  • To validate the agent/broker
  • To encrypt data
  • To identify the agent/broker (correct)

    • What can happen if the BIC code is not valid in ISO/BANCS?

  • The data cannot be encrypted
  • The transactions cannot be tracked
  • The agent/broker cannot be validated
  • The agent/broker cannot be identified (correct)

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