ACH AAP STUDY GUIDE | 120 QUESTIONS AND ANSWERS |
2026 UPDATE | WITH COMPLETE SOLUTION
Reason code used by RDFI when the source document for an ARC has been
presented for payment Answer - R37
How many times can ODFI reinitiate a POP transaction when it is returned for
either R01(insufficient funds) or R09 (uncollected funds) Answer - 2 times
What can RDFI do with an entry that does not post? Answer - 1. Manually post
the entry
2. Manually post the entry and initiate a Notification of Change (NOC)
3. Return the entry
NOT a field minimally included in the File Acknowledgment Entry from the ACH
Operator for each file that was not rejected by the ACH Operator Answer -
Settlement Date
What must be included by the ODFI or the file will be rejected by the ACH
Operator Answer - A required field
Standard Entry Class codes that can be used for non-monetary payments
Answer - CTX (corporate trade entry)
CCD (corporate credit or debit entry)
Credit only application, associated with home banking Answer - CIE (Customer
Initiated Entry)
, Acknowledgment of receipt of a corporate credit payment originated using the
CTX format Answer - ATX (Financial EDI Acknowledgement)
Debit entry initiated at an electronic terminal as defined by Reg E to effect a
transfer of funds from a consumer account to pay an obligation incurred in a
point of sale transaction Answer - POS (Point of Sale)
Debit or credit Entr to transfer funds to or from the consumers account,
initiated at an electronic terminal as defined by Reg E Answer - MTE (Machine
Transfer Entry)
Legislation that encouraged private sector ACH Operators to compete with the
Federal Reserve Answer - The Monetary Control Act of 1980
According to Reg E, what best describes the following: "unauthorized EFT"
Answer - "Initiated by a person other than the consumer, without actual
authority to initiate such transfer from which the consumer receives no benefit
NOC is to provide the correct data to an Originator so they can change what
Answer - The Routing number
To initiate an Arbitration proceeding between DFIs, a compliant must contain
what items Answer - 1. Statement of damages
2. Summary of facts
3. Application fee
Advantages of using ACH for collection of destroyed or lost checks Answer - 1.
Reduced costs
2. Acceleration of the recovery process
2026 UPDATE | WITH COMPLETE SOLUTION
Reason code used by RDFI when the source document for an ARC has been
presented for payment Answer - R37
How many times can ODFI reinitiate a POP transaction when it is returned for
either R01(insufficient funds) or R09 (uncollected funds) Answer - 2 times
What can RDFI do with an entry that does not post? Answer - 1. Manually post
the entry
2. Manually post the entry and initiate a Notification of Change (NOC)
3. Return the entry
NOT a field minimally included in the File Acknowledgment Entry from the ACH
Operator for each file that was not rejected by the ACH Operator Answer -
Settlement Date
What must be included by the ODFI or the file will be rejected by the ACH
Operator Answer - A required field
Standard Entry Class codes that can be used for non-monetary payments
Answer - CTX (corporate trade entry)
CCD (corporate credit or debit entry)
Credit only application, associated with home banking Answer - CIE (Customer
Initiated Entry)
, Acknowledgment of receipt of a corporate credit payment originated using the
CTX format Answer - ATX (Financial EDI Acknowledgement)
Debit entry initiated at an electronic terminal as defined by Reg E to effect a
transfer of funds from a consumer account to pay an obligation incurred in a
point of sale transaction Answer - POS (Point of Sale)
Debit or credit Entr to transfer funds to or from the consumers account,
initiated at an electronic terminal as defined by Reg E Answer - MTE (Machine
Transfer Entry)
Legislation that encouraged private sector ACH Operators to compete with the
Federal Reserve Answer - The Monetary Control Act of 1980
According to Reg E, what best describes the following: "unauthorized EFT"
Answer - "Initiated by a person other than the consumer, without actual
authority to initiate such transfer from which the consumer receives no benefit
NOC is to provide the correct data to an Originator so they can change what
Answer - The Routing number
To initiate an Arbitration proceeding between DFIs, a compliant must contain
what items Answer - 1. Statement of damages
2. Summary of facts
3. Application fee
Advantages of using ACH for collection of destroyed or lost checks Answer - 1.
Reduced costs
2. Acceleration of the recovery process
