1 | Page
APRP-EXAM 2026 100% PASS ASSURED
EXAMINATION SOLUTIONS
Prepaid/Stored Value Card - correct answer- A
card-based payment system that assigns a value
to the card; some cards can be
"reloaded"through various methods and the
others are designed to be discarded.
Credit card - correct answer- A card
indicating the holder has been granted a line
of credit to make purchases or withdraw cash
up to a prearranged ceiling.
Debit card - correct answer- A payment card
issued to a person for purchasing goods and
services through an electronic transfer of
funds from a demand deposit account (DDA)
rather than using cash, checks drafts at the
point of sale.
Credit entry - correct answer- An entry to the
record of an account that represents the
transfer or placement of funds into the
account.
,2 | Page
Debit entry - correct answer- An entry to the
record of an account that represents the
transfer or removal of funds from the account.
Electronically Created Item (ECI) - correct
answer- A check that never appears in paper
form.
Remotely Created Check(RDC) - correct answer-
Check created by a payee based on the account
holder's authorization that does not bear a
signature.
Remote Deposit Capture (RDC) - correct answer-
Delivery system that enables paper checks to
be processed remotely.
Pay Before - correct answer- Type of retail
processing where a card payment is made for
goods or services with prepaid or stored-value
cards,
, 3 | Page
Pay Now - correct answer- Type of retail
processing where a card payment is expected
when the goods or services are received;
generally associated with debit payments(debit
cards)
Pay Later - correct answer- Type of retail
processing where a card payment is expected
after the goods or services have been
received; typically refers to credit
payments(credit cards)
SWIFT - correct answer- Global network
messaging service supporting correspondent
banking and financial market utilities.
Financial Market Utilities(FMUs) - correct
answer- Multilateral systems that provide the
infrastructure for transferring, clearing and
settling payments, securities and other
financial transactions or between financial
institutions and the system.
Application Program Interface (API) - correct
answer- A list of specifications, standards or
APRP-EXAM 2026 100% PASS ASSURED
EXAMINATION SOLUTIONS
Prepaid/Stored Value Card - correct answer- A
card-based payment system that assigns a value
to the card; some cards can be
"reloaded"through various methods and the
others are designed to be discarded.
Credit card - correct answer- A card
indicating the holder has been granted a line
of credit to make purchases or withdraw cash
up to a prearranged ceiling.
Debit card - correct answer- A payment card
issued to a person for purchasing goods and
services through an electronic transfer of
funds from a demand deposit account (DDA)
rather than using cash, checks drafts at the
point of sale.
Credit entry - correct answer- An entry to the
record of an account that represents the
transfer or placement of funds into the
account.
,2 | Page
Debit entry - correct answer- An entry to the
record of an account that represents the
transfer or removal of funds from the account.
Electronically Created Item (ECI) - correct
answer- A check that never appears in paper
form.
Remotely Created Check(RDC) - correct answer-
Check created by a payee based on the account
holder's authorization that does not bear a
signature.
Remote Deposit Capture (RDC) - correct answer-
Delivery system that enables paper checks to
be processed remotely.
Pay Before - correct answer- Type of retail
processing where a card payment is made for
goods or services with prepaid or stored-value
cards,
, 3 | Page
Pay Now - correct answer- Type of retail
processing where a card payment is expected
when the goods or services are received;
generally associated with debit payments(debit
cards)
Pay Later - correct answer- Type of retail
processing where a card payment is expected
after the goods or services have been
received; typically refers to credit
payments(credit cards)
SWIFT - correct answer- Global network
messaging service supporting correspondent
banking and financial market utilities.
Financial Market Utilities(FMUs) - correct
answer- Multilateral systems that provide the
infrastructure for transferring, clearing and
settling payments, securities and other
financial transactions or between financial
institutions and the system.
Application Program Interface (API) - correct
answer- A list of specifications, standards or
