APRP TESTS COMPILATION BUNDLE 2026
CERTIFICATION EVALUATION AUTHENTIC
QUESTIONS AND EXPERT VERIFIED
ANSWERS GRADED A+
⩥ Credit card.
Answer: A card indicating the holder has been granted a line of credit to
make purchases or withdraw cash up to a prearranged ceiling.
⩥ Debit card.
Answer: A payment card issued to a person for purchasing goods and
services through an electronic transfer of funds from a demand deposit
account (DDA) rather than using cash, checks drafts at the point of sale.
⩥ Credit entry.
Answer: An entry to the record of an account that represents the transfer
or placement of funds into the account.
⩥ Debit entry.
Answer: An entry to the record of an account that represents the transfer
or removal of funds from the account.
⩥ Electronically Created Item (ECI).
,Answer: A check that never appears in paper form.
⩥ Remotely Created Check(RDC).
Answer: Check created by a payee based on the account holder's
authorization that does not bear a signature.
⩥ Remote Deposit Capture (RDC).
Answer: Delivery system that enables paper checks to be processed
remotely.
⩥ Pay Before.
Answer: Type of retail processing where a card payment is made for
goods or services with prepaid or stored-value cards,
⩥ Pay Now.
Answer: Type of retail processing where a card payment is expected
when the goods or services are received; generally associated with debit
payments(debit cards)
⩥ Pay Later.
Answer: Type of retail processing where a card payment is expected
after the goods or services have been received; typically refers to credit
payments(credit cards)
, ⩥ SWIFT.
Answer: Global network messaging service supporting correspondent
banking and financial market utilities.
⩥ Financial Market Utilities(FMUs).
Answer: Multilateral systems that provide the infrastructure for
transferring, clearing and settling payments, securities and other
financial transactions or between financial institutions and the system.
⩥ Application Program Interface (API).
Answer: A list of specifications, standards or conventions that enable
computer programs to exchange information.
⩥ Payroll card account.
Answer: A bank account established directly or indirectly by an
employer on behalf of an employee to which an employees wages are
electronically transferred to.
⩥ Beneficiary.
Answer: Person or entity to be paid in a funds transfer.
⩥ Beneficiary's bank.
Answer: Financial institution identified in a funds transfer to be credited
pursuant to the payment order.
CERTIFICATION EVALUATION AUTHENTIC
QUESTIONS AND EXPERT VERIFIED
ANSWERS GRADED A+
⩥ Credit card.
Answer: A card indicating the holder has been granted a line of credit to
make purchases or withdraw cash up to a prearranged ceiling.
⩥ Debit card.
Answer: A payment card issued to a person for purchasing goods and
services through an electronic transfer of funds from a demand deposit
account (DDA) rather than using cash, checks drafts at the point of sale.
⩥ Credit entry.
Answer: An entry to the record of an account that represents the transfer
or placement of funds into the account.
⩥ Debit entry.
Answer: An entry to the record of an account that represents the transfer
or removal of funds from the account.
⩥ Electronically Created Item (ECI).
,Answer: A check that never appears in paper form.
⩥ Remotely Created Check(RDC).
Answer: Check created by a payee based on the account holder's
authorization that does not bear a signature.
⩥ Remote Deposit Capture (RDC).
Answer: Delivery system that enables paper checks to be processed
remotely.
⩥ Pay Before.
Answer: Type of retail processing where a card payment is made for
goods or services with prepaid or stored-value cards,
⩥ Pay Now.
Answer: Type of retail processing where a card payment is expected
when the goods or services are received; generally associated with debit
payments(debit cards)
⩥ Pay Later.
Answer: Type of retail processing where a card payment is expected
after the goods or services have been received; typically refers to credit
payments(credit cards)
, ⩥ SWIFT.
Answer: Global network messaging service supporting correspondent
banking and financial market utilities.
⩥ Financial Market Utilities(FMUs).
Answer: Multilateral systems that provide the infrastructure for
transferring, clearing and settling payments, securities and other
financial transactions or between financial institutions and the system.
⩥ Application Program Interface (API).
Answer: A list of specifications, standards or conventions that enable
computer programs to exchange information.
⩥ Payroll card account.
Answer: A bank account established directly or indirectly by an
employer on behalf of an employee to which an employees wages are
electronically transferred to.
⩥ Beneficiary.
Answer: Person or entity to be paid in a funds transfer.
⩥ Beneficiary's bank.
Answer: Financial institution identified in a funds transfer to be credited
pursuant to the payment order.
