1|Page
AAP Final Exam Preparation Newest Verified Exam
With Complete Questions And Correct Detailed
Answers|| Newest Exam!!!
included in an ODFI's Written response to NACHA
regarding an Originator who has has exceeded a return
rate threshold or level is a plan for reducing the return rate
to below the threshold and/or level within - Answers-30
calendar days of NACHS's request
which settlement is true regarding return processing in a
same-day environment - Answers-RDFIs may send same
day returns regardless of whether the forward item was a
Same Day Entry
A Participating DFI must keep records of all ACH entries
for - Answers-6 years
inbound IAT debit transactions used to fund a beneficiary
residing outside of the U.S. must identify the ultimate
beneficiary in the - Answers-remittances addenda record
,2|Page
a reclamation entry is subordinate to claims or potential
claims by which entity - Answers-Veterans Administration
SmallTown Bank has contracted with MegaBank to
process its ACH files. Because of this relationship,
Smalltown Bank is exposed to - Answers-Third-party risk
what is the difference between the Fedwire Funds Service
and Fedwire Securities Service - Answers-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 - Answers-regulation E
a VAN is best described as a - Answers-communications
network for sending and receiving data
which of the following checks is eligible to be converted to
an ARC, POP or BOC entry - Answers-consumers check
in the amount of $25,000
, 3|Page
which of the following emerging payments is considered a
closed loop network - Answers-Dwolla
Reinitiated entries must be identified by 'RETRY PYMT' in
the - Answers-Company Entry Description field
if an ODFI receives a letter from NACHA regarding an
Originator that has exceeded the Unauthorized Return
Rate Threshold, it must respond within - Answers-10
banking days
which rule or regulations governs the processing of federal
government ACH payments - Answers-title 31 code of
federal regulations part 210
A consumer contacts his RDFI on October 4 claiming a
TEL entry that appeared on his September 4 statement
was never authorized by him. What action should the
RDFI take first - Answers-have him complete a Written
statement of Unauthorized debit
when an ODFI utilizes a third-party service provider (ie
sending point) in the origination process, which party
warrants the entries are authorized - Answers-ODFI
AAP Final Exam Preparation Newest Verified Exam
With Complete Questions And Correct Detailed
Answers|| Newest Exam!!!
included in an ODFI's Written response to NACHA
regarding an Originator who has has exceeded a return
rate threshold or level is a plan for reducing the return rate
to below the threshold and/or level within - Answers-30
calendar days of NACHS's request
which settlement is true regarding return processing in a
same-day environment - Answers-RDFIs may send same
day returns regardless of whether the forward item was a
Same Day Entry
A Participating DFI must keep records of all ACH entries
for - Answers-6 years
inbound IAT debit transactions used to fund a beneficiary
residing outside of the U.S. must identify the ultimate
beneficiary in the - Answers-remittances addenda record
,2|Page
a reclamation entry is subordinate to claims or potential
claims by which entity - Answers-Veterans Administration
SmallTown Bank has contracted with MegaBank to
process its ACH files. Because of this relationship,
Smalltown Bank is exposed to - Answers-Third-party risk
what is the difference between the Fedwire Funds Service
and Fedwire Securities Service - Answers-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 - Answers-regulation E
a VAN is best described as a - Answers-communications
network for sending and receiving data
which of the following checks is eligible to be converted to
an ARC, POP or BOC entry - Answers-consumers check
in the amount of $25,000
, 3|Page
which of the following emerging payments is considered a
closed loop network - Answers-Dwolla
Reinitiated entries must be identified by 'RETRY PYMT' in
the - Answers-Company Entry Description field
if an ODFI receives a letter from NACHA regarding an
Originator that has exceeded the Unauthorized Return
Rate Threshold, it must respond within - Answers-10
banking days
which rule or regulations governs the processing of federal
government ACH payments - Answers-title 31 code of
federal regulations part 210
A consumer contacts his RDFI on October 4 claiming a
TEL entry that appeared on his September 4 statement
was never authorized by him. What action should the
RDFI take first - Answers-have him complete a Written
statement of Unauthorized debit
when an ODFI utilizes a third-party service provider (ie
sending point) in the origination process, which party
warrants the entries are authorized - Answers-ODFI
