Representative figure okay to be accepted (5)
I believe the answer is:
token
'representative' is the definition.
(I've seen this in another clue)
'figure okay to be accepted' is the wordplay.
'figure' becomes 'ten' (I've seen this before).
'okay' becomes 'ok' (synonyms).
'to be accepted' is an insertion indicator.
'ten' placed around 'ok' is 'TOKEN'.
(Other definitions for token that I've seen before include "Gift voucher - symbol" , "Nominal - souvenir" , "Disk used in place of money" , "Done only as a symbolic gesture" , "signal" .)