AAP practice exam questions Preparation Newest
With Complete Questions And Correct Detailed
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inbound IAT debit transactions used to fund a beneficiary residing outside of the
U.S. must identify the ultimate beneficiary in the
remittances addenda record
a reclamation entry is subordinate to claims or potential claims by which entity
Veterans Administration
SmallTown Bank has contracted with MegaBank to process its ACH files. Because
of this relationship, Smalltown Bank is exposed to
Third-party risk
what is the difference between the Fedwire Funds Service and Fedwire Securities
Service
Fedwire Funds is a credit/push system;Fedwire Securities is a debit/pull system.
which of the following does not govern checks and check collection
regulation E
,a VAN is best described as a
communications network for sending and receiving data
which of the following checks is eligible to be converted to an ARC, POP or BOC
entry
consumers check in the amount of $25,000
which of the following emerging payments is considered a closed loop network
Dwolla
to be an eligible Destroyed Check Entry (XCK) a check must be in an amount
equal to or less than
2,500
an Originator goes out of business before its ODFI is able to change back a debit
entry that was returned as NSF this scenario represents what type of risk to ODFI
credit risk
which card payment system participant is responsible for representing merchants
in accepting card transactions
Acquirer
, which ACH record contains the Company Entry Description field
Company/Batch Header Record
under 31 CFR Part 210 an RDFI establishes a contractual relationship with the
Federal Government when it
Accepts a benefit payment
which party is considered the Sending Point
The ACH participant that sends the ACH file to the ACH Operator
which of the following techniques would a financial institution use to mitigate
credit risk
Setting exposure limits
RDFIs must identify the sender of a P2P payment on the consumer's periodic
statement. the sender's name is found in the
Individual Identification Number field
ABC Credit Union becomes aware of a member's death and flags the account.
The following ACH entries are received after her date of death. To limit its
liability, which payment must be returned
Social Security benefit payment in the name of the deceased
With Complete Questions And Correct Detailed
Answers| Brand New Version!
inbound IAT debit transactions used to fund a beneficiary residing outside of the
U.S. must identify the ultimate beneficiary in the
remittances addenda record
a reclamation entry is subordinate to claims or potential claims by which entity
Veterans Administration
SmallTown Bank has contracted with MegaBank to process its ACH files. Because
of this relationship, Smalltown Bank is exposed to
Third-party risk
what is the difference between the Fedwire Funds Service and Fedwire Securities
Service
Fedwire Funds is a credit/push system;Fedwire Securities is a debit/pull system.
which of the following does not govern checks and check collection
regulation E
,a VAN is best described as a
communications network for sending and receiving data
which of the following checks is eligible to be converted to an ARC, POP or BOC
entry
consumers check in the amount of $25,000
which of the following emerging payments is considered a closed loop network
Dwolla
to be an eligible Destroyed Check Entry (XCK) a check must be in an amount
equal to or less than
2,500
an Originator goes out of business before its ODFI is able to change back a debit
entry that was returned as NSF this scenario represents what type of risk to ODFI
credit risk
which card payment system participant is responsible for representing merchants
in accepting card transactions
Acquirer
, which ACH record contains the Company Entry Description field
Company/Batch Header Record
under 31 CFR Part 210 an RDFI establishes a contractual relationship with the
Federal Government when it
Accepts a benefit payment
which party is considered the Sending Point
The ACH participant that sends the ACH file to the ACH Operator
which of the following techniques would a financial institution use to mitigate
credit risk
Setting exposure limits
RDFIs must identify the sender of a P2P payment on the consumer's periodic
statement. the sender's name is found in the
Individual Identification Number field
ABC Credit Union becomes aware of a member's death and flags the account.
The following ACH entries are received after her date of death. To limit its
liability, which payment must be returned
Social Security benefit payment in the name of the deceased
