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APRP EXAM REVIEW SAMPLE TEST QUESTIONS WITH CORRECT ANS!!
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APRP EXAM REVIEW SAMPLE TEST QUESTIONS WITH CORRECT ANS!!
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APRP EXAM REVIEW SAMPLE TEST QUESTIONS WITH CORRECT ANS!!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
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