APRP Pretest with Questions and Answers

APRP Pretest with Questions and Answers Which act established the CFPB and UDAAP? ANSWER Dodd-Frank Act Which of the following should a financial institution have written procedures for? ANSWER Information Security ; Vendor Management ; Account holder privacy ; Account opening Answer: Account opening Committee of Sponsoring Organizations (COSO) is a: ANSWER Voluntary private sector organization dedicated to improving the quality of financial reporting? Which policy or procedure outlines the documentation required from customers at account opening? ANSWER Customer Identification Program (CIP) Which statement is true regarding the processing and settlement of Credit and signature-based Debit Cards? ANSWER Process in batch mode at the POS, settle at the end of each day Which of the following situations increases ad ODFI's exposure to Fraud Risk? ANSWER Allowing a Third-Party Sender to send files directly to the ACH Operator