AAP Exam Review Sample Test Bank Questions and Correct
Detailed Answers \Verified 100% \Complete 100
Questions\Actual Exam Review 2026-2027
U.S. Steel Company is stating it has an unauthorized debit entry
posting to its corporate account on Sept 22. On Sept 29,it is requesting
the RDFI (Star Bank) to return the entry as unauthorized. What is the
timeframe to return an unauthorized ACH corporate entry?
Available to the ODFI no later than opening of business on the second
banking day following settlement date of original entry
According to the NACHA operating rules, what is the minimum dollar
amount of loss suffered to file a claim for compensation?
$200
Written and signed or similarly authenticated authorizations are
REQUIRED for which of the following debit transactions:
WEB, POP, PPD
,Which field contains the reason for payment as required by OFAC for
IAT entries?
Transaction Type Code Field
Sally received a $400 credit entry into her account on Friday. The
following Friday, Sally contacted her financial institution to tell them
it's not her
transaction. What is the timeframe to return this entry?
Available to the ODFI no later than opening of business on the second
banking day following receipt of notification of refusal from the
receiver
State Bank & Trust sends a PPD debit entry to Rose's account at Third
Street Bank. Rose's account is overdrawn and the entry is returned
NSF. When State Bank & Trust receives the return, which of the
following statements is TRUE?
The entry can be reinitiated up to two more times within 180 days after
settlement date of original entry
, This summarizes the control totals from batch controls within the file. It
also contains the number of blocks & batches within the file.
File Control record
An ODFI is transmitting ACH entries for a local pharmaceutical
company. An undiscovered problem in its software causes the last four
digits in various account numbers to be transposed, resulting in 30
percent of the entries
being returned R03. Before the problem is resolved, the situation is
leaked to the local news. This is an example of what type of risk?
Reputational Risk
Which of the following statements regarding regulation CC is true?
Enacts the Expedited Funds Availability Act of 1988
For a destroyed check entry (XCK) transaction, what needs to be in
the company name field?
Check Destroyed
In what ACH record will you find the addenda record indicator?
Entry Detail Record
Detailed Answers \Verified 100% \Complete 100
Questions\Actual Exam Review 2026-2027
U.S. Steel Company is stating it has an unauthorized debit entry
posting to its corporate account on Sept 22. On Sept 29,it is requesting
the RDFI (Star Bank) to return the entry as unauthorized. What is the
timeframe to return an unauthorized ACH corporate entry?
Available to the ODFI no later than opening of business on the second
banking day following settlement date of original entry
According to the NACHA operating rules, what is the minimum dollar
amount of loss suffered to file a claim for compensation?
$200
Written and signed or similarly authenticated authorizations are
REQUIRED for which of the following debit transactions:
WEB, POP, PPD
,Which field contains the reason for payment as required by OFAC for
IAT entries?
Transaction Type Code Field
Sally received a $400 credit entry into her account on Friday. The
following Friday, Sally contacted her financial institution to tell them
it's not her
transaction. What is the timeframe to return this entry?
Available to the ODFI no later than opening of business on the second
banking day following receipt of notification of refusal from the
receiver
State Bank & Trust sends a PPD debit entry to Rose's account at Third
Street Bank. Rose's account is overdrawn and the entry is returned
NSF. When State Bank & Trust receives the return, which of the
following statements is TRUE?
The entry can be reinitiated up to two more times within 180 days after
settlement date of original entry
, This summarizes the control totals from batch controls within the file. It
also contains the number of blocks & batches within the file.
File Control record
An ODFI is transmitting ACH entries for a local pharmaceutical
company. An undiscovered problem in its software causes the last four
digits in various account numbers to be transposed, resulting in 30
percent of the entries
being returned R03. Before the problem is resolved, the situation is
leaked to the local news. This is an example of what type of risk?
Reputational Risk
Which of the following statements regarding regulation CC is true?
Enacts the Expedited Funds Availability Act of 1988
For a destroyed check entry (XCK) transaction, what needs to be in
the company name field?
Check Destroyed
In what ACH record will you find the addenda record indicator?
Entry Detail Record
