AAP Practice Exam Questions
2026 Exam All Answers and
Illustrations Given
Reinitiated entries must be identified by 'RETRY PYMT' in the -
ANSWER ✔✔Company Entry Description field
if an ODFI receives a letter from NACHA regarding an Originator that
has exceeded the Unauthorized Return Rate Threshold, it must respond
within - ANSWER ✔✔10 banking days
which rule or regulations governs the processing of federal government
ACH payments - ANSWER ✔✔title 31 code of federal regulations
part 210
,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 - ANSWER ✔✔have him
complete a Written statement of Unauthorized debit
when an ODFI utilizes a third-party service provider (ie sending point) in
the origination process, which party warrants the entries are authorized -
ANSWER ✔✔ODFI
Direct access is defined as - 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
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 - ANSWER ✔✔30 calendar days of NACHS's request
which settlement is true regarding return processing in a same-day
environment - ANSWER ✔✔RDFIs may send same day returns
regardless of whether the forward item was a Same Day Entry
A Participating DFI must keep records of all ACH entries for -
ANSWER ✔✔6 years
, inbound IAT debit transactions used to fund a beneficiary residing
outside of the U.S. must identify the ultimate beneficiary in the -
ANSWER ✔✔remittances addenda record
a reclamation entry is subordinate to claims or potential claims by which
entity - ANSWER ✔✔Veterans Administration
SmallTown Bank has contracted with MegaBank to process its ACH files.
Because of this relationship, Smalltown Bank is exposed to -
ANSWER ✔✔Third-party risk
what is the difference between the Fedwire Funds Service and Fedwire
Securities Service - ANSWER ✔✔Fedwire Funds is a credit/push
system;Fedwire Securities is a debit/pull system.
which of the following does not govern checks and check collection -
ANSWER ✔✔regulation E
a VAN is best described as a - ANSWER ✔✔communications
network for sending and receiving data
which of the following checks is eligible to be converted to an ARC, POP
or BOC entry - ANSWER ✔✔consumers check in the amount of
$25,000
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
2026 Exam All Answers and
Illustrations Given
Reinitiated entries must be identified by 'RETRY PYMT' in the -
ANSWER ✔✔Company Entry Description field
if an ODFI receives a letter from NACHA regarding an Originator that
has exceeded the Unauthorized Return Rate Threshold, it must respond
within - ANSWER ✔✔10 banking days
which rule or regulations governs the processing of federal government
ACH payments - ANSWER ✔✔title 31 code of federal regulations
part 210
,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 - ANSWER ✔✔have him
complete a Written statement of Unauthorized debit
when an ODFI utilizes a third-party service provider (ie sending point) in
the origination process, which party warrants the entries are authorized -
ANSWER ✔✔ODFI
Direct access is defined as - 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
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 - ANSWER ✔✔30 calendar days of NACHS's request
which settlement is true regarding return processing in a same-day
environment - ANSWER ✔✔RDFIs may send same day returns
regardless of whether the forward item was a Same Day Entry
A Participating DFI must keep records of all ACH entries for -
ANSWER ✔✔6 years
, inbound IAT debit transactions used to fund a beneficiary residing
outside of the U.S. must identify the ultimate beneficiary in the -
ANSWER ✔✔remittances addenda record
a reclamation entry is subordinate to claims or potential claims by which
entity - ANSWER ✔✔Veterans Administration
SmallTown Bank has contracted with MegaBank to process its ACH files.
Because of this relationship, Smalltown Bank is exposed to -
ANSWER ✔✔Third-party risk
what is the difference between the Fedwire Funds Service and Fedwire
Securities Service - ANSWER ✔✔Fedwire Funds is a credit/push
system;Fedwire Securities is a debit/pull system.
which of the following does not govern checks and check collection -
ANSWER ✔✔regulation E
a VAN is best described as a - ANSWER ✔✔communications
network for sending and receiving data
which of the following checks is eligible to be converted to an ARC, POP
or BOC entry - ANSWER ✔✔consumers check in the amount of
$25,000
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
