diff --git a/multiapps-common-test/src/main/java/org/cloudfoundry/multiapps/common/test/Tester.java b/multiapps-common-test/src/main/java/org/cloudfoundry/multiapps/common/test/Tester.java
index bb0a6afb..29e26943 100644
--- a/multiapps-common-test/src/main/java/org/cloudfoundry/multiapps/common/test/Tester.java
+++ b/multiapps-common-test/src/main/java/org/cloudfoundry/multiapps/common/test/Tester.java
@@ -1,9 +1,5 @@
 package org.cloudfoundry.multiapps.common.test;
 
-import static org.junit.jupiter.api.Assertions.assertEquals;
-import static org.junit.jupiter.api.Assertions.assertTrue;
-import static org.junit.jupiter.api.Assertions.fail;
-
 import java.text.MessageFormat;
 import java.util.List;
 import java.util.Objects;
@@ -15,6 +11,10 @@
 import org.cloudfoundry.multiapps.common.util.JsonUtil;
 import org.junit.jupiter.api.Assertions;
 
+import static org.junit.jupiter.api.Assertions.assertEquals;
+import static org.junit.jupiter.api.Assertions.assertTrue;
+import static org.junit.jupiter.api.Assertions.fail;
+
 public class Tester {
 
     private final Class<?> testedClass;
@@ -94,12 +94,13 @@ private void validateSuccessForSetExpectation(Set<Object> expectedSet, Set<Objec
     private void validateFailure(Expectation expectation, Exception e) {
         if (!expectation.expectsFailure()) {
             e.printStackTrace();
-            fail("Test failed: " + e.toString());
+            fail("Test failed: " + e);
         }
         String exceptionMessage = e.getMessage();
         assertTrue(exceptionMessage.contains(expectation.getExpectationAsString()),
-                   MessageFormat.format("Exception's message doesn't match up! Expected [{0}] to contain [{1}]!", exceptionMessage,
-                                        expectation.getExpectationAsString()));
+                   MessageFormat.format("Exception's message doesn't match up! Expected [{0}] to contain [{1}]!",
+                                        expectation.getExpectationAsString(), exceptionMessage)
+        );
     }
 
     private Object loadResourceAsJsonObject(String resource) {
diff --git a/multiapps-mta/src/main/java/org/cloudfoundry/multiapps/mta/resolvers/PropertiesResolver.java b/multiapps-mta/src/main/java/org/cloudfoundry/multiapps/mta/resolvers/PropertiesResolver.java
index efbe220e..07742ab8 100644
--- a/multiapps-mta/src/main/java/org/cloudfoundry/multiapps/mta/resolvers/PropertiesResolver.java
+++ b/multiapps-mta/src/main/java/org/cloudfoundry/multiapps/mta/resolvers/PropertiesResolver.java
@@ -21,6 +21,8 @@
 
 public class PropertiesResolver implements SimplePropertyVisitor, Resolver<Map<String, Object>> {
 
+    private static final String FULL_PATH_TEMPLATE = "%s%s%s";
+
     private Map<String, Object> properties;
     private String prefix;
     private ProvidedValuesResolver valuesResolver;
@@ -150,7 +152,9 @@ private boolean referenceResolutionIsPossible(String referenceKey, Map<String, O
     private Object getObjectForLateResolveIfPresent(Reference reference) {
         String referenceKey = reference.getKey();
         if (isStrict && !dynamicResolvableParameters.contains(referenceKey)) {
-            throw new ContentException(Messages.UNABLE_TO_RESOLVE, NameUtil.getPrefixedName(prefix, referenceKey));
+            throw new ContentException(Messages.UNABLE_TO_RESOLVE,
+                                       NameUtil.getPrefixedPath(prefix, buildFullQualifiedPath(reference)));
+
         }
         if (dynamicResolvableParameters.contains(referenceKey) && prefix != null) {
             return MessageFormat.format(DynamicParameterUtil.PATTERN_FOR_DYNAMIC_PARAMETERS, prefix, reference.getKey());
@@ -174,7 +178,7 @@ protected Object resolveReferenceInDepth(Reference reference, Map<String, Object
             keyPart = addOldKeyAsPrefixIfUnresolved(keyPart, referencePartsMatcher.group(1));
 
             if (currentProperty instanceof Collection) {
-                currentProperty = resolveKeyInIterable(keyPart, (Collection<?>) currentProperty, deepReferenceKey);
+                currentProperty = resolveKeyInIterable(reference, (Collection<?>) currentProperty, keyPart);
                 keyPart = "";
             } else if (currentProperty instanceof Map) {
                 @SuppressWarnings("unchecked")
@@ -184,12 +188,16 @@ protected Object resolveReferenceInDepth(Reference reference, Map<String, Object
                     keyPart = "";
                 }
             } else {
-                throw new ContentException(Messages.UNABLE_TO_RESOLVE, NameUtil.getPrefixedName(prefix, deepReferenceKey));
+                throw new ContentException(Messages.UNABLE_TO_RESOLVE,
+                                           NameUtil.getPrefixedPath(prefix, buildFullQualifiedPath(reference)));
+
             }
         }
 
         if (!keyPart.isEmpty()) {
-            throw new ContentException(Messages.UNABLE_TO_RESOLVE, NameUtil.getPrefixedName(prefix, deepReferenceKey));
+            throw new ContentException(Messages.UNABLE_TO_RESOLVE,
+                                       NameUtil.getPrefixedPath(prefix, buildFullQualifiedPath(reference)));
+
         }
 
         return currentProperty;
@@ -202,15 +210,22 @@ private String addOldKeyAsPrefixIfUnresolved(String oldKey, String newKey) {
         return oldKey + "/" + newKey;
     }
 
-    private Object resolveKeyInIterable(String key, Collection<?> listOfProperties, String longKey) {
-        if (StringUtils.isNumeric(key)) {
+    private Object resolveKeyInIterable(Reference reference, Collection<?> listOfProperties, String longKey) {
+        if (StringUtils.isNumeric(longKey)) {
             try {
-                return IterableUtils.get(listOfProperties, Integer.parseInt(key));
+                return IterableUtils.get(listOfProperties, Integer.parseInt(longKey));
             } catch (IndexOutOfBoundsException e) {
-                throw new ContentException(e, Messages.UNABLE_TO_RESOLVE, NameUtil.getPrefixedName(prefix, longKey));
+                throw new ContentException(e, Messages.UNABLE_TO_RESOLVE, buildFullQualifiedPath(reference));
             }
         }
-        throw new ContentException(Messages.UNABLE_TO_RESOLVE, NameUtil.getPrefixedName(prefix, longKey));
+        throw new ContentException(Messages.UNABLE_TO_RESOLVE, buildFullQualifiedPath(reference));
+    }
+
+    private String buildFullQualifiedPath(Reference reference) {
+        String referenceKey = reference.getDependencyName() != null
+            ? String.format(FULL_PATH_TEMPLATE, reference.getDependencyName(), NameUtil.DEFAULT_PREFIX_SEPARATOR, reference.getKey())
+            : reference.getKey();
+        return NameUtil.getPrefixedPath(prefix, referenceKey);
     }
 
     private String getReferencedPropertyKeyWithSuffix(Reference reference) {
diff --git a/multiapps-mta/src/main/java/org/cloudfoundry/multiapps/mta/util/NameUtil.java b/multiapps-mta/src/main/java/org/cloudfoundry/multiapps/mta/util/NameUtil.java
index 12ee364a..4d705305 100644
--- a/multiapps-mta/src/main/java/org/cloudfoundry/multiapps/mta/util/NameUtil.java
+++ b/multiapps-mta/src/main/java/org/cloudfoundry/multiapps/mta/util/NameUtil.java
@@ -20,4 +20,10 @@ public static String getPrefixedName(String prefix, String name, String separato
         return prefix + separator + name;
     }
 
+    public static String getPrefixedPath(String prefix, String path) {
+        if (StringUtils.isEmpty(prefix) || path.startsWith(prefix + DEFAULT_PREFIX_SEPARATOR)) {
+            return path;
+        }
+        return prefix + DEFAULT_PREFIX_SEPARATOR + path;
+    }
 }
diff --git a/multiapps-mta/src/test/java/org/cloudfoundry/multiapps/mta/resolvers/v3/DescriptorReferenceResolverTest.java b/multiapps-mta/src/test/java/org/cloudfoundry/multiapps/mta/resolvers/v3/DescriptorReferenceResolverTest.java
index 2e801144..a54b4dc7 100644
--- a/multiapps-mta/src/test/java/org/cloudfoundry/multiapps/mta/resolvers/v3/DescriptorReferenceResolverTest.java
+++ b/multiapps-mta/src/test/java/org/cloudfoundry/multiapps/mta/resolvers/v3/DescriptorReferenceResolverTest.java
@@ -21,18 +21,21 @@ class DescriptorReferenceResolverTest {
 
     static Stream<Arguments> testResolve() {
         return Stream.of(
-                         // (0) Resolve references in resources:
-                         Arguments.of("merged-01.yaml", new Expectation(Expectation.Type.JSON, "resolved-01.yaml.json")),
-                         // (1) Resolve references in resources - cyclic dependencies & corner cases:
-                         Arguments.of("merged-02.yaml", new Expectation(Expectation.Type.JSON, "resolved-02.yaml.json")),
-                         // (2) Test error reporting on failure to resolve value:
-                         Arguments.of("merged-03.yaml",
-                                      new Expectation(Expectation.Type.EXCEPTION, "Unable to resolve \"baz##non-existing\"")),
-                         // (3) Resolve references in hooks:
-                         Arguments.of("merged-04.yaml", new Expectation(Expectation.Type.JSON, "resolved-03.yaml.json")),
-                         // (4)
-                         Arguments.of("mtad-with-escaped-references.yaml",
-                                      new Expectation(Expectation.Type.JSON, "result-from-escaped-references.json")));
+            // (0) Resolve references in resources:
+            Arguments.of("merged-01.yaml", new Expectation(Expectation.Type.JSON, "resolved-01.yaml.json")),
+            // (1) Resolve references in resources - cyclic dependencies & corner cases:
+            Arguments.of("merged-02.yaml", new Expectation(Expectation.Type.JSON, "resolved-02.yaml.json")),
+            // (2) Test error reporting on failure to resolve value:
+            Arguments.of("merged-03.yaml",
+                         new Expectation(Expectation.Type.EXCEPTION, "Unable to resolve \"baz##bar#non-existing\"")),
+            // (3) Resolve references in hooks:
+            Arguments.of("merged-04.yaml", new Expectation(Expectation.Type.JSON, "resolved-03.yaml.json")),
+            // (4)
+            Arguments.of("mtad-with-escaped-references.yaml",
+                         new Expectation(Expectation.Type.JSON, "result-from-escaped-references.json")),
+            // (5)
+            Arguments.of("merged-05.yaml",
+                         new Expectation(Expectation.Type.EXCEPTION, "Unable to resolve \"module-a##module-b#invalid/0/url\"")));
     }
 
     @ParameterizedTest
diff --git a/multiapps-mta/src/test/resources/org/cloudfoundry/multiapps/mta/resolvers/v3/merged-05.yaml b/multiapps-mta/src/test/resources/org/cloudfoundry/multiapps/mta/resolvers/v3/merged-05.yaml
new file mode 100644
index 00000000..3b17d0c9
--- /dev/null
+++ b/multiapps-mta/src/test/resources/org/cloudfoundry/multiapps/mta/resolvers/v3/merged-05.yaml
@@ -0,0 +1,50 @@
+ID: com.sap.mta.v2.test.config-02
+_schema-version: 3.3.0
+version: 1.0.0
+
+modules:
+  - name: module-a
+    type: com.sap.application.content
+    parameters:
+      content:
+        subaccount:
+          existing_destinations_policy: update
+          destinations:
+            - Name: destination-a
+              URL: ~{module-b/invalid/0/url}
+              forwardAuthToken: true
+              ServiceInstanceName: "service-a"
+    requires:
+      - name: service-destination
+        parameters:
+          content-target: true
+      - name: service-a
+      - name: module-b
+
+  - name: module-b
+    type: application
+    path: "appBits.zip"
+    requires:
+      - name: service-a
+    parameters:
+      buildpack: staticfile_buildpack
+      memory: 1G
+      disk-quota: 1G
+    provides:
+      - name: module-b
+        properties:
+          default-url: ${default-url}
+
+resources:
+  - name: service-destination
+    type: org.cloudfoundry.managed-service
+    parameters:
+      service: destination
+      service-name: service-destination
+      service-plan: lite
+
+  - name: service-a
+    type: org.cloudfoundry.managed-service
+    parameters:
+      service: xsuaa
+      service-plan: application