AAP HANDBOOK TEST (120 MULTIPLE
CHOICE QUESTIONS) ANSWERED
CORRECTLY TO PASS!!
1 of 100
Term
A Health Care EFT Transaction must comply with the following
format:
a. CCD with no Addenda Record
b. CTX with one Addenda Record
c. CCD with one Addenda Record
d. CTX with multiple Addenda Records
Give this one a try later!
, A D
B C
Don't know?
2 of 100
Term
Recently, Sue compared rates on automobile insurance in her area.
Sue found GoodDealz Insurance that offered her a better rate than
the company that she has coverage with today. Sue signs a policy for
automobile insurance with GoodDealz Insurance and authorizes it to
ACH debit her account monthly for the premium. Sue contacts her
financial institution to
stop payment on all future ACH debits from her old insurance
company. How can Sue's financial institution handle her request?
☐a. The financial institution can explain to Sue that her stop
payment request is only good to stop one
Entry and she will have to contact her old insurance company to
stop future ACH debits from
them.
☐b. The financial institution can take Sue's stop payment request
and stop all future Entries from her
old insurance company.
☐c. The financial institution can explain to Sue that they cannot
stop the ACH debit Entries from her
old insurance com
Give this one a try later!
, C A
B D
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3 of 100
Term
Which of the following specifically 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?
☐a. OCC Banking Circular 235
☐b. UCC 4
☐c. Regulation Z
☐d. UCC 4A
Give this one a try later!
A C
D B
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4 of 100
, Term
Which of the following is not an ACH benefit to an RDFI?
☐a. Ability to offer improved services to both consumer and
corporate account holders
☐b. Enhanced public recognition through provision of effective,
efficient, and innovative payment
services
☐c. Alleviation of teller-line congestion during peak periods
☐d. Elimination of stop payment charges and check reissue costs
Give this one a try later!
D C
B A
Don't know?
5 of 100
Term
An ODFI may dishonor a Return Entry that was___________.
☐a. Insufficient Funds
☐b. Untimely
☐c. Account Frozen
☐d. Payment Stopped
Give this one a try later!
CHOICE QUESTIONS) ANSWERED
CORRECTLY TO PASS!!
1 of 100
Term
A Health Care EFT Transaction must comply with the following
format:
a. CCD with no Addenda Record
b. CTX with one Addenda Record
c. CCD with one Addenda Record
d. CTX with multiple Addenda Records
Give this one a try later!
, A D
B C
Don't know?
2 of 100
Term
Recently, Sue compared rates on automobile insurance in her area.
Sue found GoodDealz Insurance that offered her a better rate than
the company that she has coverage with today. Sue signs a policy for
automobile insurance with GoodDealz Insurance and authorizes it to
ACH debit her account monthly for the premium. Sue contacts her
financial institution to
stop payment on all future ACH debits from her old insurance
company. How can Sue's financial institution handle her request?
☐a. The financial institution can explain to Sue that her stop
payment request is only good to stop one
Entry and she will have to contact her old insurance company to
stop future ACH debits from
them.
☐b. The financial institution can take Sue's stop payment request
and stop all future Entries from her
old insurance company.
☐c. The financial institution can explain to Sue that they cannot
stop the ACH debit Entries from her
old insurance com
Give this one a try later!
, C A
B D
Don't know?
3 of 100
Term
Which of the following specifically 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?
☐a. OCC Banking Circular 235
☐b. UCC 4
☐c. Regulation Z
☐d. UCC 4A
Give this one a try later!
A C
D B
Don't know?
4 of 100
, Term
Which of the following is not an ACH benefit to an RDFI?
☐a. Ability to offer improved services to both consumer and
corporate account holders
☐b. Enhanced public recognition through provision of effective,
efficient, and innovative payment
services
☐c. Alleviation of teller-line congestion during peak periods
☐d. Elimination of stop payment charges and check reissue costs
Give this one a try later!
D C
B A
Don't know?
5 of 100
Term
An ODFI may dishonor a Return Entry that was___________.
☐a. Insufficient Funds
☐b. Untimely
☐c. Account Frozen
☐d. Payment Stopped
Give this one a try later!
