AAP Practice Exam Questions and Answers |Fall 2025/2026
Update | 100% Correct
Question 1
Reinitiated entries must be identified by 'RETRY PYMT' in the
Correct Answer
Company Entry Description field
Question 2
if an ODFI receives a letter from NACHA regarding an Originator that has exceeded the Unauthorized Return Rate
Threshold, it must respond within
Correct Answer
10 banking days
Question 3
which rule or regulations governs the processing of federal government ACH payments
Correct Answer
title 31 code of federal regulations part 210
Page 1 of 35
,Question 4
A consumer contacts his RDFI on October 4 claiming a TEL entry that appeared on his September 4 statement was never
authorized by him. What action should the RDFI take first
Correct Answer
have him complete a Written statement of Unauthorized debit
Question 5
when an ODFI utilizes a third-party service provider (ie sending point) in the origination process, which party warrants the
entries are authorized
Correct Answer
ODFI
Question 6
Direct access is defined as
Correct Answer
An Originator or a third party that transmits ACH files directly to an ACH Operator using a financial institution's routing
number and settlement account
Page 2 of 35
,Question 7
included in an ODFI's Written response to NACHA regarding an Originator who has has exceeded a return rate threshold or
level is a plan for reducing the return rate to below the threshold and/or level within
Correct Answer
30 calendar days of NACHS's request
Question 8
which settlement is true regarding return processing in a same-day environment
Correct Answer
RDFIs may send same day returns regardless of whether the forward item was a Same Day Entry
Question 9
A Participating DFI must keep records of all ACH entries for
Correct Answer
6 years
Question 10
inbound IAT debit transactions used to fund a beneficiary residing outside of the U.S. must identify the ultimate beneficiary
in the
Correct Answer
remittances addenda record
Page 3 of 35
, Question 11
a reclamation entry is subordinate to claims or potential claims by which entity
Correct Answer
Veterans Administration
Question 12
SmallTown Bank has contracted with MegaBank to process its ACH files. Because of this relationship, Smalltown Bank is
exposed to
Correct Answer
Third-party risk
Question 13
what is the difference between the Fedwire Funds Service and Fedwire Securities Service
Correct Answer
Fedwire Funds is a credit/push system;Fedwire Securities is a debit/pull system.
Question 14
which of the following does not govern checks and check collection
Correct Answer
regulation E
Page 4 of 35
Update | 100% Correct
Question 1
Reinitiated entries must be identified by 'RETRY PYMT' in the
Correct Answer
Company Entry Description field
Question 2
if an ODFI receives a letter from NACHA regarding an Originator that has exceeded the Unauthorized Return Rate
Threshold, it must respond within
Correct Answer
10 banking days
Question 3
which rule or regulations governs the processing of federal government ACH payments
Correct Answer
title 31 code of federal regulations part 210
Page 1 of 35
,Question 4
A consumer contacts his RDFI on October 4 claiming a TEL entry that appeared on his September 4 statement was never
authorized by him. What action should the RDFI take first
Correct Answer
have him complete a Written statement of Unauthorized debit
Question 5
when an ODFI utilizes a third-party service provider (ie sending point) in the origination process, which party warrants the
entries are authorized
Correct Answer
ODFI
Question 6
Direct access is defined as
Correct Answer
An Originator or a third party that transmits ACH files directly to an ACH Operator using a financial institution's routing
number and settlement account
Page 2 of 35
,Question 7
included in an ODFI's Written response to NACHA regarding an Originator who has has exceeded a return rate threshold or
level is a plan for reducing the return rate to below the threshold and/or level within
Correct Answer
30 calendar days of NACHS's request
Question 8
which settlement is true regarding return processing in a same-day environment
Correct Answer
RDFIs may send same day returns regardless of whether the forward item was a Same Day Entry
Question 9
A Participating DFI must keep records of all ACH entries for
Correct Answer
6 years
Question 10
inbound IAT debit transactions used to fund a beneficiary residing outside of the U.S. must identify the ultimate beneficiary
in the
Correct Answer
remittances addenda record
Page 3 of 35
, Question 11
a reclamation entry is subordinate to claims or potential claims by which entity
Correct Answer
Veterans Administration
Question 12
SmallTown Bank has contracted with MegaBank to process its ACH files. Because of this relationship, Smalltown Bank is
exposed to
Correct Answer
Third-party risk
Question 13
what is the difference between the Fedwire Funds Service and Fedwire Securities Service
Correct Answer
Fedwire Funds is a credit/push system;Fedwire Securities is a debit/pull system.
Question 14
which of the following does not govern checks and check collection
Correct Answer
regulation E
Page 4 of 35
