NCP EXAM OPERATIONS (QUESTIONS &
ANSWERS) SCORED 90% OR MORE!!
1 of 67
Definition
Item level control. True duplicates result in exception item (may be
returned or adjusted). What is the industry practice? Timing will
determine. After midnight deadline would have to adjust. If prior to
midnight deadline, can return. Know operational duplicates should
be resolved as adjustments. When the cause is unknown, fraud
may be involved...return would protect legal rights of Paying Bank
("right of return")
Give this one a try later!
, Quality control Duplicate item detection
Item capture Timing is key in knowing..
Don't know?
2 of 67
Definition
Customer R or Administrative E. Generally Customer = monetary and
Administrative = non monetary. All returns have value. Review the
return codes.
Give this one a try later!
Return Types Access Modifiers
Classes Other Adjustment Types
Don't know?
, 3 of 67
Definition
Eligible items for exchange under ECCHO rules must be a check
under Reg CC and an item under UCC
Give this one a try later!
To be eligible for manual
To be ineligible under ECCHO
processing
To be eligible in ECCHO To be eligible under Reg D
Don't know?
4 of 67
Definition
According to Reg CC, all checks, including substitute checks must
have the RTN of the paying bank preprinted or post encoded in
magnetic ink (E-13B font). However, not required if IRD is printed
for paid items returned to issuing institution's customer as a
properly paid item.
Give this one a try later!
Magnetic soup Magnetic ink
, PAID Colored wax
Don't know?
5 of 67
Definition
One and only one truncation indicator set to "Y" (unless '4' in EPC
field in type 25 or 31 record indicating that item is an image of a
substitute check = which if that were the case, all truncation
indicators would be set to "N").
Give this one a try later!
Truncation indicator in 26
Record Truncation indicator in 30 Record
Truncation indicator in 25 Record Truncation indicator in 27 Record
Don't know?
6 of 67
Term
PAID
Give this one a try later!
ANSWERS) SCORED 90% OR MORE!!
1 of 67
Definition
Item level control. True duplicates result in exception item (may be
returned or adjusted). What is the industry practice? Timing will
determine. After midnight deadline would have to adjust. If prior to
midnight deadline, can return. Know operational duplicates should
be resolved as adjustments. When the cause is unknown, fraud
may be involved...return would protect legal rights of Paying Bank
("right of return")
Give this one a try later!
, Quality control Duplicate item detection
Item capture Timing is key in knowing..
Don't know?
2 of 67
Definition
Customer R or Administrative E. Generally Customer = monetary and
Administrative = non monetary. All returns have value. Review the
return codes.
Give this one a try later!
Return Types Access Modifiers
Classes Other Adjustment Types
Don't know?
, 3 of 67
Definition
Eligible items for exchange under ECCHO rules must be a check
under Reg CC and an item under UCC
Give this one a try later!
To be eligible for manual
To be ineligible under ECCHO
processing
To be eligible in ECCHO To be eligible under Reg D
Don't know?
4 of 67
Definition
According to Reg CC, all checks, including substitute checks must
have the RTN of the paying bank preprinted or post encoded in
magnetic ink (E-13B font). However, not required if IRD is printed
for paid items returned to issuing institution's customer as a
properly paid item.
Give this one a try later!
Magnetic soup Magnetic ink
, PAID Colored wax
Don't know?
5 of 67
Definition
One and only one truncation indicator set to "Y" (unless '4' in EPC
field in type 25 or 31 record indicating that item is an image of a
substitute check = which if that were the case, all truncation
indicators would be set to "N").
Give this one a try later!
Truncation indicator in 26
Record Truncation indicator in 30 Record
Truncation indicator in 25 Record Truncation indicator in 27 Record
Don't know?
6 of 67
Term
PAID
Give this one a try later!
