ETA CPP ANSWERS AND QUESTIONS SET A+
✔✔Federal Program Agency (FPA) - ✔✔The federal agency that implements
congressional legislation and effects policy decisions of the Executive Branch.
✔✔Federal Register - ✔✔The federal publication in which all public‐record government
regulatory actions and procedures are published, including requests for comment and
final regulations and actions. The date of publication in the Federal Register is often
considered the effective date of many regulatory actions.
✔✔Federal Reserve Bank (FRB) - ✔✔The branch or district office of the Federal
Reserve System that acts as the central bank of the United States.
✔✔Federal Reserve System - ✔✔A system of 12 regional banks that regulate bank
holding companies and subsidiary commercial banks, provide payment services, and,
through open‐market operations, control the nation's money supply.
✔✔Federal Trade Commission (FTC) - ✔✔The federal agency responsible for enforcing
the Truth in Lending Act (Regulation Z), of which the Consumer Leasing Act is a part,
among leasing companies, finance companies, and lessors not regulated by other
federal agencies. The Federal Trade Commission also performs other functions related
to its role of ensuring that the nation's markets function competitively, enforcing other
statutes affecting consumer financial services, and enforcing the Federal Trade
Commission Act, which prohibits unfair or deceptive acts or practices.
✔✔Fed Funds - ✔✔Deposits made by a commercial bank in its local Federal Reserve
Bank. These funds include cash balances in excess of the reserve requirement, which
may be loaned to other banks overnight.
✔✔FedLine - ✔✔A personal computer software program written by the Federal Reserve
Bank that allows access to the FRB's payment services. Many smaller financial
institutions use Fedline to originate and receive ACH.
✔✔Fed Wire™ - ✔✔A wire transfer service operated by the Federal Reserve Bank to
move funds electronically with instantaneous settlement.
, ✔✔Fee Collection - ✔✔A VisaNet transaction used by a member or Visa to collect
financial obligations of a member from a clearing processor.
✔✔Feet on the Street - ✔✔An expression meaning salesperson or merchant‐level
salesperson.
✔✔FI - ✔✔See Financial Institution.
✔✔Fiber-Optic Cable - ✔✔A transmission medium composed of small strands of glass
providing a path for light rays that act as a carrier.
✔✔Fictitious Account Number - ✔✔A cardholder account number that does not exist
and has never existed (used for fraudulent purposes).
✔✔Field - ✔✔One or more consecutive character positions within a file.
✔✔FIFO - ✔✔See First‐In/First‐Out.
✔✔File Transfer - ✔✔The copying of a file from one computer to another over a
computer network.
✔✔File Transfer Protocol (FTP) - ✔✔A method of transferring files from one computer
to another over the Internet.
✔✔FILO - ✔✔See First‐In/Last‐Out.
✔✔Finance Charge - ✔✔The cost of consumer credit expressed as a dollar amount.
✔✔Finance Company - ✔✔A business that makes consumer loans, usually to
individuals who qualify for credit under the criteria of banks and credit unions.
✔✔Financial Agent - ✔✔A financial institution designated by the U.S. Treasury
Department to conduct depository services on behalf of the federal government.
✔✔Financial EDI - ✔✔Electronic exchange of payments, payment information, or
financially related documents in standard formats between business partners.
✔✔Financial Institution (FI) - ✔✔Any bank, savings and loan, credit union, or other
institution organized under either national or state banking laws capable of accepting
deposits and/or extending credit.
✔✔Financial Intelligence Unit (FIU) - ✔✔New organization unit for risk management and
payment fraud investigation, such as with money laundering.
✔✔Federal Program Agency (FPA) - ✔✔The federal agency that implements
congressional legislation and effects policy decisions of the Executive Branch.
✔✔Federal Register - ✔✔The federal publication in which all public‐record government
regulatory actions and procedures are published, including requests for comment and
final regulations and actions. The date of publication in the Federal Register is often
considered the effective date of many regulatory actions.
✔✔Federal Reserve Bank (FRB) - ✔✔The branch or district office of the Federal
Reserve System that acts as the central bank of the United States.
✔✔Federal Reserve System - ✔✔A system of 12 regional banks that regulate bank
holding companies and subsidiary commercial banks, provide payment services, and,
through open‐market operations, control the nation's money supply.
✔✔Federal Trade Commission (FTC) - ✔✔The federal agency responsible for enforcing
the Truth in Lending Act (Regulation Z), of which the Consumer Leasing Act is a part,
among leasing companies, finance companies, and lessors not regulated by other
federal agencies. The Federal Trade Commission also performs other functions related
to its role of ensuring that the nation's markets function competitively, enforcing other
statutes affecting consumer financial services, and enforcing the Federal Trade
Commission Act, which prohibits unfair or deceptive acts or practices.
✔✔Fed Funds - ✔✔Deposits made by a commercial bank in its local Federal Reserve
Bank. These funds include cash balances in excess of the reserve requirement, which
may be loaned to other banks overnight.
✔✔FedLine - ✔✔A personal computer software program written by the Federal Reserve
Bank that allows access to the FRB's payment services. Many smaller financial
institutions use Fedline to originate and receive ACH.
✔✔Fed Wire™ - ✔✔A wire transfer service operated by the Federal Reserve Bank to
move funds electronically with instantaneous settlement.
, ✔✔Fee Collection - ✔✔A VisaNet transaction used by a member or Visa to collect
financial obligations of a member from a clearing processor.
✔✔Feet on the Street - ✔✔An expression meaning salesperson or merchant‐level
salesperson.
✔✔FI - ✔✔See Financial Institution.
✔✔Fiber-Optic Cable - ✔✔A transmission medium composed of small strands of glass
providing a path for light rays that act as a carrier.
✔✔Fictitious Account Number - ✔✔A cardholder account number that does not exist
and has never existed (used for fraudulent purposes).
✔✔Field - ✔✔One or more consecutive character positions within a file.
✔✔FIFO - ✔✔See First‐In/First‐Out.
✔✔File Transfer - ✔✔The copying of a file from one computer to another over a
computer network.
✔✔File Transfer Protocol (FTP) - ✔✔A method of transferring files from one computer
to another over the Internet.
✔✔FILO - ✔✔See First‐In/Last‐Out.
✔✔Finance Charge - ✔✔The cost of consumer credit expressed as a dollar amount.
✔✔Finance Company - ✔✔A business that makes consumer loans, usually to
individuals who qualify for credit under the criteria of banks and credit unions.
✔✔Financial Agent - ✔✔A financial institution designated by the U.S. Treasury
Department to conduct depository services on behalf of the federal government.
✔✔Financial EDI - ✔✔Electronic exchange of payments, payment information, or
financially related documents in standard formats between business partners.
✔✔Financial Institution (FI) - ✔✔Any bank, savings and loan, credit union, or other
institution organized under either national or state banking laws capable of accepting
deposits and/or extending credit.
✔✔Financial Intelligence Unit (FIU) - ✔✔New organization unit for risk management and
payment fraud investigation, such as with money laundering.
