AAP Exam Study Guide 2026
Exam Questions and Answers |
Already Graded A+
Samuel's Imports processes service fees electronically for returned
checks. According to Regulation D, Samuel's must provide a notice to
the customer prior to collecting any fees electronically. - ANSWER
✔✔False
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
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
Exam Questions and Answers |
Already Graded A+
Samuel's Imports processes service fees electronically for returned
checks. According to Regulation D, Samuel's must provide a notice to
the customer prior to collecting any fees electronically. - ANSWER
✔✔False
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
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
