ISO 9362:2022 - Business Identifier Code (BIC) Professional Quiz 01 26Jul25 - Practice Quiz

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Consider a scenario where \"Global Trust Bank,\" a financial institution previously headquartered and primarily operating in Country Alpha, undergoes a significant merger with \"Apex Financial Services,\" a firm based in Country Beta. Following the merger, Global Trust Bank relocates its primary operational headquarters to Country Beta and ceases significant operations in Country Alpha. Their existing BIC, which was registered and validated according to the rules applicable to Country Alpha, is still in use. What is the most accurate assessment of the status of Global Trust Bank\'s BIC in this post-merger, post-relocation environment, according to the principles of ISO 9362:2022?

The BIC is likely invalid because it no longer accurately reflects the institution's primary operational jurisdiction and may not align with the registration authority of its new operational base.

The BIC remains valid as long as the institution continues to operate, as the standard primarily focuses on the structural format and not the operational location.

The BIC is automatically updated by the ISO 9362:2022 registration system to reflect the new country code upon notification of the merger.

The BIC is valid for a grace period of one year after the merger, after which it will be automatically deactivated by the global BIC directory.

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