Exam (elaborations)
APRP Practice Test Questions with 100- correct answers
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APRP Practice Test Questions with 100- correct answers
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APRP Practice TestQuestions with 100%
correct answers
1. A check is not considered a negotiable
instrument under Regulation CC if it?
a. Does not have a date
b. Is future dated
c. Does not have a named payee
d. Is not printed in MICR ink
D. Is not printed in MICR ink.
2. Fedwire Funds are final and irrevocable upon
completion of processing by the
_____________________________ .
a. Beneficiary's Depository Institution
b. Originator's Depository Institution
c. Originator
d. Federal Reserve Banks
,D. Federal Reserves Banks
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3. 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 utilizes a micro-payment
to validate the account
c. The security procedure is only compared to a
signature
d. The security procedure utilizes a Prenote to
validate the account
, C. The security procedure is only compared to a
signature
4. Real-time Payments® (RTP) allows a financial
institution to limit its exposure risk by:
a. Ensuring equipment is safeguarded
b. Utilizing prefunding
c. Utilizing a micro-payment prior to initiating live
payment
d. Protection via Daylight-Overdraft
B. Utilizing prefunding
5. The duration of exposure risk for a financial
institution when originating ACH debit entries is:
a. One day prior to Settlement Date
b. The period from when entries are released to
the ACH Operator, through the time entries can no
longer be returned by the RDFI
c. Mitigated through strong fraud controls
d. Mitigated through strong operational controls
B. The period from when entries are released to
the ACH Operator, through the time entries can no
longer be returned by the RDFI
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