AAP CERTIFICATION EVALUATION 2026 FULL
QUESTIONS WITH SOLUTIONS
◉ Which Standard Entry Class Code (SEC) does UCC4A cover?
Answer: CCD (credit)
◉ Ralph Smith has scheduled automatic transfers with all 8 of
monthly debtors as a way to simplify his life. He set up a separate
savings account to pay his bills. He provided each debtor his savings
account number. After the sixth Third-Party debit Entry to this
account the RDFI returned the remaining debits. The customer was
very angry and wanted the RDFI to pay his late fees. The RDFI is
within its right to return the Entries according to which regulation?
Answer: Regulation D defines a non-transaction account as an
account that allows no more than six Third-Party withdrawals per
statement period.
◉ Which regulation pertains to consumer error resolution within 60
days of statement date? Answer: Regulation E
◉ Uniform Commercial Code Article 4A primarily addresses:
Answer: Wholesale ACH credit transactions and wire transfers
◉ Which regulation states that funds deposited by means of
electronic payment must be made available to the consumer no later
,than the business day following the banking day on which the bank
received the electronic payment? Answer: Regulation CC
◉ Which regulation limits the number of debits made by check,
debit card or ACH, to not more than six per statement cycle ?
Answer: Regulation D
◉ Which Regulation governs funds availability? Answer: Regulation
CC
◉ Under Regulation E, how long does an institution have to resolve
the error without providing a provisional recredit of the amount in
question? Answer: 10 Business Days
◉ Which act gives electronic signatures and documents the same
force of law as ink on paper? Answer: E-Sign Act
◉ An Originator can add the return fee to the RCK Entry when
initiating the Entry. Answer: False
◉ Which requirement is not required for consumer accounts
according to Regulation E and the NACHA Operating Rules except:
Answer: ACH Operator ID number
, ◉ Only outbound IAT debit Entries are required to be OFAC checked.
Answer: False
◉ The Originator is responsible for retaining the original item to
which an RCK entry relates for: Answer: Zero Days
◉ For corporate customers the credit given by the RDFI to the
Receiver is provisional until: Answer: The RDFI receives final
settlement from the FRB
◉ According to Regulation E, if an EFT is $_____or less, no receipt is
required? Answer: $15.00
◉ Regulation E governs which of these SEC Codes? Answer: PPD
◉ If a consumer makes more than six Third-Party withdrawals per
month from an account, then the account must be classified as a
transaction account according to what? Answer: Regulation D
◉ What governs cut off times, settlement dates and procedures?
Answer: Operating Circular 4
◉ The ODFI and the Originator have entered into an agreement for
services. The Originator has insisted that corporate ACH Credit
QUESTIONS WITH SOLUTIONS
◉ Which Standard Entry Class Code (SEC) does UCC4A cover?
Answer: CCD (credit)
◉ Ralph Smith has scheduled automatic transfers with all 8 of
monthly debtors as a way to simplify his life. He set up a separate
savings account to pay his bills. He provided each debtor his savings
account number. After the sixth Third-Party debit Entry to this
account the RDFI returned the remaining debits. The customer was
very angry and wanted the RDFI to pay his late fees. The RDFI is
within its right to return the Entries according to which regulation?
Answer: Regulation D defines a non-transaction account as an
account that allows no more than six Third-Party withdrawals per
statement period.
◉ Which regulation pertains to consumer error resolution within 60
days of statement date? Answer: Regulation E
◉ Uniform Commercial Code Article 4A primarily addresses:
Answer: Wholesale ACH credit transactions and wire transfers
◉ Which regulation states that funds deposited by means of
electronic payment must be made available to the consumer no later
,than the business day following the banking day on which the bank
received the electronic payment? Answer: Regulation CC
◉ Which regulation limits the number of debits made by check,
debit card or ACH, to not more than six per statement cycle ?
Answer: Regulation D
◉ Which Regulation governs funds availability? Answer: Regulation
CC
◉ Under Regulation E, how long does an institution have to resolve
the error without providing a provisional recredit of the amount in
question? Answer: 10 Business Days
◉ Which act gives electronic signatures and documents the same
force of law as ink on paper? Answer: E-Sign Act
◉ An Originator can add the return fee to the RCK Entry when
initiating the Entry. Answer: False
◉ Which requirement is not required for consumer accounts
according to Regulation E and the NACHA Operating Rules except:
Answer: ACH Operator ID number
, ◉ Only outbound IAT debit Entries are required to be OFAC checked.
Answer: False
◉ The Originator is responsible for retaining the original item to
which an RCK entry relates for: Answer: Zero Days
◉ For corporate customers the credit given by the RDFI to the
Receiver is provisional until: Answer: The RDFI receives final
settlement from the FRB
◉ According to Regulation E, if an EFT is $_____or less, no receipt is
required? Answer: $15.00
◉ Regulation E governs which of these SEC Codes? Answer: PPD
◉ If a consumer makes more than six Third-Party withdrawals per
month from an account, then the account must be classified as a
transaction account according to what? Answer: Regulation D
◉ What governs cut off times, settlement dates and procedures?
Answer: Operating Circular 4
◉ The ODFI and the Originator have entered into an agreement for
services. The Originator has insisted that corporate ACH Credit
