APRP Exam 1 with Questions and Answers

APRP Exam 1 with Questions and Answers Overwriting ANSWER Disposal technique used to destroy sensitive, electronic data on devices by replacing it with new, random data. Degaussing ANSWER Disposal technique using powerful, varying magnetic fields to scramble data recorded on media. Federal Reserve Bank ANSWER Entity that processes and settles Fedwire Funds. Regulation D ANSWER Establishes reserve requirements and identifies non-transaction accounts. Payment System Risk (PSR) Policy ANSWER Federal Reserve policy addressing the risks that payment systems present to the Federal Reserve Banks, the banking system and to other sectors of the economy. Paying Bank (Payor's Depository Financial Institution) ANSWER Financial institution identified by the routing number encoded on the MICR line of a check. Beneficiary's Bank ANSWER Financial institution identified in a funds transfer to be credited pursuant to the payment order. Truncating Bank ANSWER Financial institution that creates the image of the original check.