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Accredited ACH Professional (AAP) Exam | Latest
Verified Questions and Detailed Answers
OVERVIEW DESCRIPTION
This comprehensive set of multiple choice questions is designed for the Accredited
ACH Professional (AAP) exam, administered by Nacha. The exam evaluates mastery of
electronic payments and the ACH Network, covering five core domains: ACH Rules &
Operations, ACH File Formats & Technical Standards, Risk Management, Payments
Law & Regulation, and Other Payment Systems. It assesses candidates' knowledge of
transaction flows, file structures, return codes, risk responsibilities, regulatory
frameworks including Regulation E and OFAC compliance, and comparative
understanding of alternative payment rails.
ACH Rules & Operations
QUESTION 1
Under the Nacha Operating Rules, what is the standard return timeframe for a non-
consumer (corporate) debit Entry that is returned due to a stop payment order?
A. 2 banking days from the Settlement Date
B. 24 hours from the Settlement Date
C. 5 banking days from the Settlement Date
D. The return must be transmitted by the RDFI’s next return deadline after receipt of the
stop order
CORRECT ANSWER: A. 2 banking days from the Settlement Date
EXPERT RATIONALE: Non-consumer stop payment returns must be received by the ODFI
within 2 banking days of the Settlement Date. Consumer unauthorized returns have an
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extended 60-day period under Regulation E, but the ACH rule for corporate stops is
shorter.
QUESTION 2
Same-Day ACH credits settled during the first same-day processing window must be
made available to the receiver by the RDFI no later than:
A. 1:00 p.m. RDFI local time
B. 2:45 p.m. RDFI local time
C. 5:00 p.m. RDFI local time
D. End of the RDFI’s processing day
CORRECT ANSWER: C. 5:00 p.m. RDFI local time
EXPERT RATIONALE: Same-Day ACH credit entries from the first window (submitted by
10:30 a.m. ET, settled at 1:00 p.m. ET) must be made available to the receiver by 5:00
p.m. local time. The second window credits must be available by the end of the RDFI’s
processing day.
QUESTION 3
An RDFI receives a PPD debit Entry for a consumer account and the consumer asserts
the transaction was not authorized. Under the Nacha Rules, the latest the RDFI can
transmit a return as “R10” (Consumer Unauthorized) is:
A. 2 banking days after Settlement Date
B. 60 calendar days after Settlement Date
C. 60 calendar days after the periodic statement delivery date
D. 90 calendar days after Settlement Date
CORRECT ANSWER: C. 60 calendar days after the periodic statement delivery date
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EXPERT RATIONALE: The RDFI may return a consumer debit as unauthorized (R10)
within 60 days of the statement delivery date, aligning with Regulation E’s error-
resolution window. The rules extend the return time frame beyond the settlement date
to match consumer protections.
QUESTION 4
What is the maximum dollar amount per Same-Day ACH transaction as defined by the
Nacha Operating Rules (effective 2024)?
A. 25,000B.25,000B.100,000
C. 1,000,000D.1,000,000D.10,000
CORRECT ANSWER: C. $1,000,000
EXPERT RATIONALE: As of March 2024, the Same-Day ACH per-transaction limit
increased to 1million.Previouslyitwas1million.Previouslyitwas100,000, but the
higher limit now accommodates a broader range of faster payments.
QUESTION 5
An ODFI originates a PPD credit Entry but the funds must be returned because the
receiver’s account is closed. Which Return Reason Code applies?
A. R01 (Insufficient Funds)
B. R02 (Account Closed)
C. R03 (No Account/Unable to Locate)
D. R04 (Invalid Account Number)
CORRECT ANSWER: B. R02 (Account Closed)
EXPERT RATIONALE: R02 signifies the account on which the entry was directed has been
closed. R03 indicates no account exists or it cannot be located, while R01 is for
insufficient funds.
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QUESTION 6
When an ODFI transmits a Prenotification (PND) Entry, the RDFI must respond if there is
an issue within:
A. 2 banking days
B. 6 banking days
C. 10 banking days
D. 60 calendar days
CORRECT ANSWER: B. 6 banking days
EXPERT RATIONALE: RDFIs are required to transmit a Notification of Change (NOC) or
return the Prenotification within 6 banking days if the account information needs
correction or the account is closed/non-existent.
QUESTION 7
Which of the following Settlement Dates falls within the Nacha rules’ “no more than 2
banking days after the Effective Entry Date” for a non-Same-Day ACH credit?
A. A credit with an Effective Entry Date of Monday settles on Wednesday
B. A credit with an Effective Entry Date of Thursday settles on Friday
C. A credit with an Effective Entry Date of Friday settles on the following Monday
D. A credit with an Effective Entry Date of Wednesday settles on the following Monday
CORRECT ANSWER: A. A credit with an Effective Entry Date of Monday settles on
Wednesday
EXPERT RATIONALE: Credits must settle within 2 banking days of the Effective Entry
Date. Monday to Wednesday is exactly 2 banking days; Friday to Monday would be 3
banking days, exceeding the limit.
Accredited ACH Professional (AAP) Exam | Latest
Verified Questions and Detailed Answers
OVERVIEW DESCRIPTION
This comprehensive set of multiple choice questions is designed for the Accredited
ACH Professional (AAP) exam, administered by Nacha. The exam evaluates mastery of
electronic payments and the ACH Network, covering five core domains: ACH Rules &
Operations, ACH File Formats & Technical Standards, Risk Management, Payments
Law & Regulation, and Other Payment Systems. It assesses candidates' knowledge of
transaction flows, file structures, return codes, risk responsibilities, regulatory
frameworks including Regulation E and OFAC compliance, and comparative
understanding of alternative payment rails.
ACH Rules & Operations
QUESTION 1
Under the Nacha Operating Rules, what is the standard return timeframe for a non-
consumer (corporate) debit Entry that is returned due to a stop payment order?
A. 2 banking days from the Settlement Date
B. 24 hours from the Settlement Date
C. 5 banking days from the Settlement Date
D. The return must be transmitted by the RDFI’s next return deadline after receipt of the
stop order
CORRECT ANSWER: A. 2 banking days from the Settlement Date
EXPERT RATIONALE: Non-consumer stop payment returns must be received by the ODFI
within 2 banking days of the Settlement Date. Consumer unauthorized returns have an
,2|Page
extended 60-day period under Regulation E, but the ACH rule for corporate stops is
shorter.
QUESTION 2
Same-Day ACH credits settled during the first same-day processing window must be
made available to the receiver by the RDFI no later than:
A. 1:00 p.m. RDFI local time
B. 2:45 p.m. RDFI local time
C. 5:00 p.m. RDFI local time
D. End of the RDFI’s processing day
CORRECT ANSWER: C. 5:00 p.m. RDFI local time
EXPERT RATIONALE: Same-Day ACH credit entries from the first window (submitted by
10:30 a.m. ET, settled at 1:00 p.m. ET) must be made available to the receiver by 5:00
p.m. local time. The second window credits must be available by the end of the RDFI’s
processing day.
QUESTION 3
An RDFI receives a PPD debit Entry for a consumer account and the consumer asserts
the transaction was not authorized. Under the Nacha Rules, the latest the RDFI can
transmit a return as “R10” (Consumer Unauthorized) is:
A. 2 banking days after Settlement Date
B. 60 calendar days after Settlement Date
C. 60 calendar days after the periodic statement delivery date
D. 90 calendar days after Settlement Date
CORRECT ANSWER: C. 60 calendar days after the periodic statement delivery date
,3|Page
EXPERT RATIONALE: The RDFI may return a consumer debit as unauthorized (R10)
within 60 days of the statement delivery date, aligning with Regulation E’s error-
resolution window. The rules extend the return time frame beyond the settlement date
to match consumer protections.
QUESTION 4
What is the maximum dollar amount per Same-Day ACH transaction as defined by the
Nacha Operating Rules (effective 2024)?
A. 25,000B.25,000B.100,000
C. 1,000,000D.1,000,000D.10,000
CORRECT ANSWER: C. $1,000,000
EXPERT RATIONALE: As of March 2024, the Same-Day ACH per-transaction limit
increased to 1million.Previouslyitwas1million.Previouslyitwas100,000, but the
higher limit now accommodates a broader range of faster payments.
QUESTION 5
An ODFI originates a PPD credit Entry but the funds must be returned because the
receiver’s account is closed. Which Return Reason Code applies?
A. R01 (Insufficient Funds)
B. R02 (Account Closed)
C. R03 (No Account/Unable to Locate)
D. R04 (Invalid Account Number)
CORRECT ANSWER: B. R02 (Account Closed)
EXPERT RATIONALE: R02 signifies the account on which the entry was directed has been
closed. R03 indicates no account exists or it cannot be located, while R01 is for
insufficient funds.
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QUESTION 6
When an ODFI transmits a Prenotification (PND) Entry, the RDFI must respond if there is
an issue within:
A. 2 banking days
B. 6 banking days
C. 10 banking days
D. 60 calendar days
CORRECT ANSWER: B. 6 banking days
EXPERT RATIONALE: RDFIs are required to transmit a Notification of Change (NOC) or
return the Prenotification within 6 banking days if the account information needs
correction or the account is closed/non-existent.
QUESTION 7
Which of the following Settlement Dates falls within the Nacha rules’ “no more than 2
banking days after the Effective Entry Date” for a non-Same-Day ACH credit?
A. A credit with an Effective Entry Date of Monday settles on Wednesday
B. A credit with an Effective Entry Date of Thursday settles on Friday
C. A credit with an Effective Entry Date of Friday settles on the following Monday
D. A credit with an Effective Entry Date of Wednesday settles on the following Monday
CORRECT ANSWER: A. A credit with an Effective Entry Date of Monday settles on
Wednesday
EXPERT RATIONALE: Credits must settle within 2 banking days of the Effective Entry
Date. Monday to Wednesday is exactly 2 banking days; Friday to Monday would be 3
banking days, exceeding the limit.
