ACI
3I0-012 · Question #720
When a broker makes an error on payment instructions The Model Code recommends that
The correct answer is D. The broker's liability should be limited as he is not in a position to directly rectify the situation. See the full explanation below for the reasoning.
Question
When a broker makes an error on payment instructions The Model Code recommends that
Options
- AThe broker remains liable for the resulting difference for 3 full business days following the date of the
- BThe broker remains liable until the error is discovered.
- CThe broker is not liable at all.
- DThe broker's liability should be limited as he is not in a position to directly rectify the situation.
How the community answered
(46 responses)- A2% (1)
- B17% (8)
- C9% (4)
- D72% (33)
Community Discussion
No community discussion yet for this question.