AAP EXAM / ACCREDITED ACH PROFESSIONAL (AAP) EXAM BANK , PREP
EXAM (MOST TESTED QUESTIONS ) A NEW UPDATED STUDY GUIDE 2026/2027
ALL COMPLETE ACCURATE EXAM ACTUAL QUESTIONS WITH WELL
ELABORATED ANSWERS (100% CORRECT VERIFIED SOLUTIONS) LATEST
UPDATED VERSION |ALL YOU NEED FOR A GUARANTEED PASS A+ |FULL
REVISED APP EXAM
A U.S.-domiciled money transmitter receives a payment order from a
foreign customer at one of its foreign branch offices to send funds to a
Receiver in the U.S. The money transmitter makes a book entry to
record the transaction on the books of its offices in both countries and
creates an ACH entry to send the funds to the Receiver at his bank in the
U.S. What type of ACH transaction would be originated by the money
transmitter?
Answer- The resulting ACH credit to the U.S. Receiver would be an
IAT
Stan purchases a drill from the local hardware store using a check. His
check is returned as NSF. The hardware store has a policy to collect
NSF items using RCK. According to the ACH Rules, the hardware store
is required to:
Answer- Keep a copy of the front and back of the check for 7 years
The Acquirer in the Card Payments System is:
Answer- A financial institution that represents Merchants in accepting
POS transactions
,The ACH Network is governed by all of the following except
Answer- Electronic Funds Transfer Mandate
Which of the following is an example of a common ACH credit
application?
Answer- Shareholder dividends
Willy Wreck has Insurance-R-Us automatically debit his account at
Nitin' Left Bank every month for his car insurance. Insurance-R-Us
contracts with Creative Payments to generate an ACH debit file each
month. Creative Payments then transmits the file to The Money Bank,
Insurance-R-Us' financial institution. Creative Payments would be a(n):
Answer- Third-Party Service Provider
Direct Payment via ACH can be all except:
Answer- Used to send a payment to a mortgage account
You logged into your financial institution's online banking website and
authorized a one-time payment to your credit card company. Which SEC
code would accompany your payment?
,Answer- CIE
Which company would be the best candidate for Direct Payment via
ACH?
Answer- 9,999 addenda records with 80 characters of payment-related
information
A third-party processing ACH transactions on behalf of an RDFI is
referred to as a(n):
Answer- Receiving Point
ABC Company initiates a single payment to cover all charges incurred
on five invoices from XYZ Company. Which SEC code
Answer- CTX
Which of following is an ANSI ASC X12 transaction set for making
health care payments?
Answer- ASC X12 835
, Willy Wreck has Insurance-R-Us automatically debit his account at
Nitin' Left Bank every month for his car insurance. Insurance-R-Us
contracts with Creative Payments to generate an ACH debit file each
month. Creative Payments then transmits the file to their own financial
institution, Innovative Bank. Creative Payments would be a(n):
Answer- Third-Party Sender
Which of the following emerging payments is considered a closed loop
network?
Answer- B. Dollar
Written and signed or similarly authenticated authorizations are required
for:
Answer- POP and PPD debit entries
Which rule or regulation governs the processing
Answer- Title 31 Code of Federal Regulations Part 210
Which statement is true regarding the differences between the settlement
process of a Fed wire and an ACH file?
EXAM (MOST TESTED QUESTIONS ) A NEW UPDATED STUDY GUIDE 2026/2027
ALL COMPLETE ACCURATE EXAM ACTUAL QUESTIONS WITH WELL
ELABORATED ANSWERS (100% CORRECT VERIFIED SOLUTIONS) LATEST
UPDATED VERSION |ALL YOU NEED FOR A GUARANTEED PASS A+ |FULL
REVISED APP EXAM
A U.S.-domiciled money transmitter receives a payment order from a
foreign customer at one of its foreign branch offices to send funds to a
Receiver in the U.S. The money transmitter makes a book entry to
record the transaction on the books of its offices in both countries and
creates an ACH entry to send the funds to the Receiver at his bank in the
U.S. What type of ACH transaction would be originated by the money
transmitter?
Answer- The resulting ACH credit to the U.S. Receiver would be an
IAT
Stan purchases a drill from the local hardware store using a check. His
check is returned as NSF. The hardware store has a policy to collect
NSF items using RCK. According to the ACH Rules, the hardware store
is required to:
Answer- Keep a copy of the front and back of the check for 7 years
The Acquirer in the Card Payments System is:
Answer- A financial institution that represents Merchants in accepting
POS transactions
,The ACH Network is governed by all of the following except
Answer- Electronic Funds Transfer Mandate
Which of the following is an example of a common ACH credit
application?
Answer- Shareholder dividends
Willy Wreck has Insurance-R-Us automatically debit his account at
Nitin' Left Bank every month for his car insurance. Insurance-R-Us
contracts with Creative Payments to generate an ACH debit file each
month. Creative Payments then transmits the file to The Money Bank,
Insurance-R-Us' financial institution. Creative Payments would be a(n):
Answer- Third-Party Service Provider
Direct Payment via ACH can be all except:
Answer- Used to send a payment to a mortgage account
You logged into your financial institution's online banking website and
authorized a one-time payment to your credit card company. Which SEC
code would accompany your payment?
,Answer- CIE
Which company would be the best candidate for Direct Payment via
ACH?
Answer- 9,999 addenda records with 80 characters of payment-related
information
A third-party processing ACH transactions on behalf of an RDFI is
referred to as a(n):
Answer- Receiving Point
ABC Company initiates a single payment to cover all charges incurred
on five invoices from XYZ Company. Which SEC code
Answer- CTX
Which of following is an ANSI ASC X12 transaction set for making
health care payments?
Answer- ASC X12 835
, Willy Wreck has Insurance-R-Us automatically debit his account at
Nitin' Left Bank every month for his car insurance. Insurance-R-Us
contracts with Creative Payments to generate an ACH debit file each
month. Creative Payments then transmits the file to their own financial
institution, Innovative Bank. Creative Payments would be a(n):
Answer- Third-Party Sender
Which of the following emerging payments is considered a closed loop
network?
Answer- B. Dollar
Written and signed or similarly authenticated authorizations are required
for:
Answer- POP and PPD debit entries
Which rule or regulation governs the processing
Answer- Title 31 Code of Federal Regulations Part 210
Which statement is true regarding the differences between the settlement
process of a Fed wire and an ACH file?
