AAP-Operational Process Questions and Correct Answers/ Latest Update / Already Graded

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AAP-Operational Process Questions and
Correct Answers/ Latest Update /
Already Graded
2 banking days


Ans: amount of time an RDFI has to provide payment-related information

to non-consumer receivers, upon request, of CCD, CTX, CIE and IAT entries




2 banking days


Ans: amount of time an RDFI has to return an unauthorized corporate

transaction




2 banking days


Ans: amount of time an RDFI has to return a credit entry following the

RDFI's notification from its receiver




2 banking days

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Ans: deadline for the RDFI to initiate an NOC




2 banking days


Ans: deadline for the ODFI to provide NOC or corrected NOC

information to the originator




2 banking days


Ans: the standard return deadline for ACH entries




2 banking days


Ans: deadline for the RDFI to transmit contested dishonored or corrected

returns




3 banking days


Ans: amount of time an originator must wait to send a live entry following

settlement date of a prenote

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5 banking days


Ans: deadline for a gateway to notify an RDFI of an inbound IAT

transaction that has been blocked and/or rejected




5 banking days


Ans: amount of time an ODFI or originator has to initiate a reclamation

entry or written demand for payment after receiving notification of death




5 banking days


Ans: timeframe for sending a reversing entry or file following the

settlement date of the original transaction(s)




5 banking days


Ans: deadline for the RDFI to respond to a refused NOC (i.e., send a

corrected NOC)




5 banking days