AAP Test 100 Questions EXAM comprehensive
questions and verified answers| get it 100%
ACCURATE!!
Save
Terms in this set (100)
Which of the following specify the Regulation D
requirements for reserves that a
depository institution must maintain
at a Federal Reserve Bank?
Which of the following specifically OCC Banking Circular 235
addresses national banks and their
need to evaluate large dollar
payment system network risks and
requires reporting this to top
management and maintaining
agreements with all parties that
they do business with?
Which of the following payment Fedwire Funds Transfer
systems is referred to as real-time
gross settlement?
Choose the correct description of A financial institution that represents merchants in
the Acquirer in the card network accepting POS transactions
system:
,What is the minimum amount of $250
dispute BEFORE a complaint can be
filed to initiate an arbitration
proceeding for the ACH Network?
Blue Sky Bank does ACH Choice of Law
origination for two local companies
in town. The bank has agreements in
place with the two Originators in
which it provides the necessary
disclosures for UCC Article 4A as
required by the Nacha Operating
Rules and Guidelines. Which
provision of UCC Article 4A can be
varied by agreement (with
disclosure to Originator)?
Anthony opened his checking 21 days
account with Northern Bank upon
account opening, the ATM fee was
clearly stated as being $3.00 per
transaction. Effective October 1, the
fee for using the ATM will increase
to $3.50. According to Regulation E,
how many days prior notice is
required when there is a change to
the initial disclosures which results
in greater consumer liability.
Which regulatory body requires the Office of Foreign Assets Control
RDFI to perform a review of all
parties to an IAT entry including
Remittance and Foreign
Correspondent Addenda Records?
, Which of the following lists the Payee/Bank of First Deposit/Correspondent
participants in check processing Bank/Paying Bank
order?
Which of the following would be a By returning a post death benefit R14 or R15
method by the RDFI to officially
notify the federal government
agency of the death of federal
government benefit payment
recipient?
Regulation E does NOT apply to RCK, CCD, CTX
which of the following ACH
products(identified by SEC Code)?
Which of the following is true 7 mandatory, 2 optional remittance, 5 optional
relating to addenda records for an foreign correspondent ( only a combined
IAT (International ACH Transaction) maximum of 12 addenda records)
entry?
State Bank and Trust an entry as One year
unauthorized after having the
customer complete and sign the
Written Statement of Unauthorized
Debit(WSUD). How long is State
Bank and Trust required to retain a
copy of the WSUD?
First Bank (the ODFI) is creating 6 years
XCK entries due to lost cash letter.
According to the Nacha Operating
Rules and Guidelines, First Bank
needs to keep a copy of the item(s)
to which each XCK entry pertains
for:
questions and verified answers| get it 100%
ACCURATE!!
Save
Terms in this set (100)
Which of the following specify the Regulation D
requirements for reserves that a
depository institution must maintain
at a Federal Reserve Bank?
Which of the following specifically OCC Banking Circular 235
addresses national banks and their
need to evaluate large dollar
payment system network risks and
requires reporting this to top
management and maintaining
agreements with all parties that
they do business with?
Which of the following payment Fedwire Funds Transfer
systems is referred to as real-time
gross settlement?
Choose the correct description of A financial institution that represents merchants in
the Acquirer in the card network accepting POS transactions
system:
,What is the minimum amount of $250
dispute BEFORE a complaint can be
filed to initiate an arbitration
proceeding for the ACH Network?
Blue Sky Bank does ACH Choice of Law
origination for two local companies
in town. The bank has agreements in
place with the two Originators in
which it provides the necessary
disclosures for UCC Article 4A as
required by the Nacha Operating
Rules and Guidelines. Which
provision of UCC Article 4A can be
varied by agreement (with
disclosure to Originator)?
Anthony opened his checking 21 days
account with Northern Bank upon
account opening, the ATM fee was
clearly stated as being $3.00 per
transaction. Effective October 1, the
fee for using the ATM will increase
to $3.50. According to Regulation E,
how many days prior notice is
required when there is a change to
the initial disclosures which results
in greater consumer liability.
Which regulatory body requires the Office of Foreign Assets Control
RDFI to perform a review of all
parties to an IAT entry including
Remittance and Foreign
Correspondent Addenda Records?
, Which of the following lists the Payee/Bank of First Deposit/Correspondent
participants in check processing Bank/Paying Bank
order?
Which of the following would be a By returning a post death benefit R14 or R15
method by the RDFI to officially
notify the federal government
agency of the death of federal
government benefit payment
recipient?
Regulation E does NOT apply to RCK, CCD, CTX
which of the following ACH
products(identified by SEC Code)?
Which of the following is true 7 mandatory, 2 optional remittance, 5 optional
relating to addenda records for an foreign correspondent ( only a combined
IAT (International ACH Transaction) maximum of 12 addenda records)
entry?
State Bank and Trust an entry as One year
unauthorized after having the
customer complete and sign the
Written Statement of Unauthorized
Debit(WSUD). How long is State
Bank and Trust required to retain a
copy of the WSUD?
First Bank (the ODFI) is creating 6 years
XCK entries due to lost cash letter.
According to the Nacha Operating
Rules and Guidelines, First Bank
needs to keep a copy of the item(s)
to which each XCK entry pertains
for:
