APRP TEST questions with answers
A check is not considered a negotiable instrument under
Regulation CC if it: - CORRECT ANSWERS ✔✔Is not printed
in MICR ink
Fedwire Funds are final and irrevocable upon completion
of processing by the __________. - CORRECT ANSWERS
✔✔Federal Reserve Banks
A security procedure is not considered commercially
reasonable for a wire transfer if: - CORRECT ANSWERS
✔✔The security procedure is only compared to a
signature
Real-time Payments® (RTP) allows a financial institution
to limit its exposure risk by: - CORRECT ANSWERS
✔✔Utilizing prefunding
The duration of exposure risk for a financial institution
when originating ACH debit entries is: - CORRECT
ANSWERS ✔✔The period from when entries are released
to the ACH Operator, through the time entries can no
longer be returned by the RDFI
, Use of a logon ID, token and fingerprint to access a
business's online banking is considered: - CORRECT
ANSWERS ✔✔Multifactor authentication
To control daylight overdrafts, _________ the establishes
net debit caps on the amount of Reserve Bank daylight
credit that a depository institution may use during a
single day or over a two- week reserve maintenance
period - CORRECT ANSWERS ✔✔Payment System Risk
Policy
Which regulation requires that a paying bank must return
a check such that it is received by the Bank of First
Deposit by 2:00 p.m. local time on the second business
day following the date of presentment? - CORRECT
ANSWERS ✔✔Reg CC expeditious return
Which of the following steps is included in a Business
Impact Analysis? - CORRECT ANSWERS ✔✔Identifying
potential impact of business disruptions
A risk assessment includes an: - CORRECT ANSWERS
✔✔Analysis of threats based on the impact to the
institution and its customers
A check is not considered a negotiable instrument under
Regulation CC if it: - CORRECT ANSWERS ✔✔Is not printed
in MICR ink
Fedwire Funds are final and irrevocable upon completion
of processing by the __________. - CORRECT ANSWERS
✔✔Federal Reserve Banks
A security procedure is not considered commercially
reasonable for a wire transfer if: - CORRECT ANSWERS
✔✔The security procedure is only compared to a
signature
Real-time Payments® (RTP) allows a financial institution
to limit its exposure risk by: - CORRECT ANSWERS
✔✔Utilizing prefunding
The duration of exposure risk for a financial institution
when originating ACH debit entries is: - CORRECT
ANSWERS ✔✔The period from when entries are released
to the ACH Operator, through the time entries can no
longer be returned by the RDFI
, Use of a logon ID, token and fingerprint to access a
business's online banking is considered: - CORRECT
ANSWERS ✔✔Multifactor authentication
To control daylight overdrafts, _________ the establishes
net debit caps on the amount of Reserve Bank daylight
credit that a depository institution may use during a
single day or over a two- week reserve maintenance
period - CORRECT ANSWERS ✔✔Payment System Risk
Policy
Which regulation requires that a paying bank must return
a check such that it is received by the Bank of First
Deposit by 2:00 p.m. local time on the second business
day following the date of presentment? - CORRECT
ANSWERS ✔✔Reg CC expeditious return
Which of the following steps is included in a Business
Impact Analysis? - CORRECT ANSWERS ✔✔Identifying
potential impact of business disruptions
A risk assessment includes an: - CORRECT ANSWERS
✔✔Analysis of threats based on the impact to the
institution and its customers
