NEWEST Accredited ACH Professional
(AAP) Exam | ULTIMATE EXAM WITH
CORRECT ANSWERS AND RATIONALES
FOR CERTIFICATION SUCCESS
1. The ACH Network is governed primarily by:
A) NACHA Operating Rules
B) Federal Reserve Regulation E
C) Federal Reserve Regulation J
D) Uniform Commercial Code Article 4A
E) The Electronic Fund Transfer Act
Correct answer: A
Rationale: The NACHA Operating Rules govern the
ACH Network.
2. An ACH credit entry is a transaction where:
A) Funds are pushed from the originator's account to
the receiver's account
B) Funds are pulled from the receiver's account to
the originator's account
C) The receiver authorizes the originator to debit the
account
,D) The ODFI sends a return entry
E) The RDFI rejects the entry
Correct answer: A
Rationale: A credit entry pushes funds.
3. An ACH debit entry is a transaction where:
A) Funds are pulled from the receiver's account to
the originator's account
B) Funds are pushed to the receiver's account
C) The ODFI originates a credit
D) The RDFI originates a credit
E) The entry is a zero-dollar entry
Correct answer: A
Rationale: A debit entry pulls funds.
4. The settlement of ACH entries occurs through:
A) Federal Reserve Banks or a private sector ACH
operator
B) The ODFI directly
C) The RDFI directly
D) The originator's bank
E) The receiver's bank
,Correct answer: A
Rationale: Settlement is performed by ACH operators
(Federal Reserve or EPN).
5. A "batch" of ACH entries is referred to as a:
A) File
B) Record
C) Block
D) Segment
E) Packet
Correct answer: A
Rationale: A file contains one or more batches.
6. The maximum dollar amount for a single ACH entry
is generally:
A) No limit (subject to ODFI and RDFI agreements)
B) $10,000
C) $25,000
D) $100,000
E) $1,000,000
Correct answer: A
, Rationale: There is no NACHA-imposed dollar limit;
limits are set by financial institutions.
7. A prenotification (prenote) is a:
A) Zero-dollar entry used to validate account
information
B) $1 test entry
C) Reversing entry
D) Correction entry
E) Return entry
Correct answer: A
Rationale: Prenotes verify account and routing
numbers.
8. An ACH entry must be settled by the RDFI by:
A) The opening of business on the settlement date
B) 5:00 PM local time on the settlement date
C) The following business day
D) The end of the month
E) The next settlement window
Correct answer: A
(AAP) Exam | ULTIMATE EXAM WITH
CORRECT ANSWERS AND RATIONALES
FOR CERTIFICATION SUCCESS
1. The ACH Network is governed primarily by:
A) NACHA Operating Rules
B) Federal Reserve Regulation E
C) Federal Reserve Regulation J
D) Uniform Commercial Code Article 4A
E) The Electronic Fund Transfer Act
Correct answer: A
Rationale: The NACHA Operating Rules govern the
ACH Network.
2. An ACH credit entry is a transaction where:
A) Funds are pushed from the originator's account to
the receiver's account
B) Funds are pulled from the receiver's account to
the originator's account
C) The receiver authorizes the originator to debit the
account
,D) The ODFI sends a return entry
E) The RDFI rejects the entry
Correct answer: A
Rationale: A credit entry pushes funds.
3. An ACH debit entry is a transaction where:
A) Funds are pulled from the receiver's account to
the originator's account
B) Funds are pushed to the receiver's account
C) The ODFI originates a credit
D) The RDFI originates a credit
E) The entry is a zero-dollar entry
Correct answer: A
Rationale: A debit entry pulls funds.
4. The settlement of ACH entries occurs through:
A) Federal Reserve Banks or a private sector ACH
operator
B) The ODFI directly
C) The RDFI directly
D) The originator's bank
E) The receiver's bank
,Correct answer: A
Rationale: Settlement is performed by ACH operators
(Federal Reserve or EPN).
5. A "batch" of ACH entries is referred to as a:
A) File
B) Record
C) Block
D) Segment
E) Packet
Correct answer: A
Rationale: A file contains one or more batches.
6. The maximum dollar amount for a single ACH entry
is generally:
A) No limit (subject to ODFI and RDFI agreements)
B) $10,000
C) $25,000
D) $100,000
E) $1,000,000
Correct answer: A
, Rationale: There is no NACHA-imposed dollar limit;
limits are set by financial institutions.
7. A prenotification (prenote) is a:
A) Zero-dollar entry used to validate account
information
B) $1 test entry
C) Reversing entry
D) Correction entry
E) Return entry
Correct answer: A
Rationale: Prenotes verify account and routing
numbers.
8. An ACH entry must be settled by the RDFI by:
A) The opening of business on the settlement date
B) 5:00 PM local time on the settlement date
C) The following business day
D) The end of the month
E) The next settlement window
Correct answer: A
