CIR study guide
CIR · Work through your exam, one topic at a time.
The Certified International Representative (CIR) credential is aimed at bankers who manage cross-border interbank relationships and the transaction flows that sit behind them - correspondent banking managers, trade finance and payments specialists, and relationship officers serving foreign financial institutions. It tests whether you understand the commercial, operational and regulatory mechanics of international banking well enough to hold a counterparty conversation without escalating. The CIR study guide has 8 sections and about 2,761 words.
01International Trade and Transaction Banking
International trade and transaction banking tests whether you can follow a transaction end to end - the goods, the documents and the money - and say which rulebook governs each leg. Questions cluster around Incoterms 2020 allocation of cost and risk, the choice between open account, collections and credits, and the documentary chain a bank actually examines.
399 words, about 2 min02Payments, Clearing and Settlement Systems
Payments, clearing and settlement tests the message, the rail and the moment of finality. Expect questions on ISO 20022 migration, correspondent routing, charge codes, value dating and settlement risk.
336 words, about 2 min03Foreign Exchange and Currency Risk
Foreign exchange and currency risk tests quotation mechanics, exposure identification, instrument selection and forward pricing. Numerical questions are common, and marks are lost on the wrong side of the spread.
323 words, about 2 min04Correspondent Banking and Interbank Relationships
Correspondent banking tests how banks hold accounts for each other, how flows route across the network, and what due diligence attaches to a respondent. Expect nostro/vostro direction, RMA and BIC mechanics, nested relationships and de-risking.
365 words, about 2 min05Trade Finance Instruments and Documentary Credits
Trade finance instruments and documentary credits tests UCP 600 mechanics: which rulebook applies, what a bank must examine, and how discrepancies are handled. UCP 600 for documentary credits; eUCP 2.0 for electronic presentation; ISBP 821 for examination practice; ISP98 for standbys; URDG 758 for demand guarantees; URC 522 for collections.
353 words, about 2 min06Compliance, AML/CFT and Sanctions Screening
Compliance, AML/CFT and sanctions screening tests the risk-based approach in operation: customer due diligence, ownership look-through, screening mechanics and trade-based money-laundering red flags. The FATF 40 Recommendations set the standard: risk-based CDD, identification of beneficial owners, understanding purpose and expected activity, enhanced due diligence for PEPs and higher-risk relationships, ongoing monitoring, five-year record retention, and reporting suspicious activity to the FIU.
325 words, about 2 min07Cross-Border Lending and Credit Risk
Cross-border lending and credit risk tests how exposure is structured, measured, mitigated and priced when borrower, currency and lender sit in different jurisdictions. Bilateral loans, syndicated facilities (arranger, agent bank, participating banks), club deals, ECA-supported buyer credits, pre-export finance and borrowing-base lines.
311 words, about 2 min08Regulatory Frameworks and Market Conduct
Regulatory frameworks and market conduct tests the layer above the transaction: capital and liquidity rules, conduct of business, and benchmark reform. Basel III sets minimum CET1 at 4.5%, Tier 1 at 6% and total capital at 8%, plus a 2.5% capital conservation buffer.
349 words, about 2 min