APRP Exam Review Sample
Test Comprehensive Questions
with Verified Answers Graded
A+
A check is not considered a negotiable instrument under Reg CC if:
A. Does not have a date
B. Is future dated
C. Does not have a named payee
D. Is not printed and MICR ink - Answer: D
Fed wire funds are final and irrevocable upon completion of processing by the
A. Beneficiaries depository institution
B. Originators depository institution
C. Originator
D. Federal Reserve Banks - Answer: D
A security procedure is not considered commercially reasonable for a wire transfer if
A. The security procedure complies with regulation J
B. The security procedure utilized as a micro payment to validate the account
, C. The security procedure is only compared to a signature
D. The security procedure utilizes a pre-note to validate the account - Answer: C
Which regulation requires that a paying bank must return a check such that it is received by the
bank of first deposit (BOFD) by 2 PM local time on the second business day following the date of
resentment
A. UCC Midnight deadline
B. Reg CC Expeditious return
C. Reg E Expedited re-credit
D. OCC 231 - Answer: B
According to the FFIEC, an institution's first step in the business continuity process is the
development of a
A. Risk assessment
B. Risk management program
C. Business impact analysis
D. Risk monitoring and testing program - Answer: C
Internally developed technology ____________establish measurable controls and requirements
to achieve policy objectives
A. Procedures
B. System Maintenance Schedules
C. Standards
D. Authentication requirements - Answer: C
Test Comprehensive Questions
with Verified Answers Graded
A+
A check is not considered a negotiable instrument under Reg CC if:
A. Does not have a date
B. Is future dated
C. Does not have a named payee
D. Is not printed and MICR ink - Answer: D
Fed wire funds are final and irrevocable upon completion of processing by the
A. Beneficiaries depository institution
B. Originators depository institution
C. Originator
D. Federal Reserve Banks - Answer: D
A security procedure is not considered commercially reasonable for a wire transfer if
A. The security procedure complies with regulation J
B. The security procedure utilized as a micro payment to validate the account
, C. The security procedure is only compared to a signature
D. The security procedure utilizes a pre-note to validate the account - Answer: C
Which regulation requires that a paying bank must return a check such that it is received by the
bank of first deposit (BOFD) by 2 PM local time on the second business day following the date of
resentment
A. UCC Midnight deadline
B. Reg CC Expeditious return
C. Reg E Expedited re-credit
D. OCC 231 - Answer: B
According to the FFIEC, an institution's first step in the business continuity process is the
development of a
A. Risk assessment
B. Risk management program
C. Business impact analysis
D. Risk monitoring and testing program - Answer: C
Internally developed technology ____________establish measurable controls and requirements
to achieve policy objectives
A. Procedures
B. System Maintenance Schedules
C. Standards
D. Authentication requirements - Answer: C
