Ach network - Study guides, Class notes & Summaries

APRP Questions Correctly Answered Rated A+. Preventive Control - correct answer A mitigating technique designated to prevent an event from occurring. Incident Response Plan - correct answer A plan that defines the action steps, involved resources and communication strategy upon identification of a threat or potential threat event, such as a breach in security protocol, power or telecomunnications outage, severe weather or workplace violence. Control Self-Assessment - correct answer A tech...

APRP-Exam Latest Update with Verified Solutions ACH Network Payment system governed by the ACH rules, UCC 4, UCC 4A, Electronic Funds Transfer Act, OFAC, Regulation E, The Right to Financial Privacy, Regulation D and Regulation CC ACH Operator The central clearing facility for ACH transactions Acquirer/Processor (Merchant Bank or Merchant Processor) The financial institution that contracts with a merchant to initiate payment requests to a card association or company in the contex...

Which of the following specify the requirements for reserves that a depository institution must maintain at a Federal Reserve Bank? a. Uniform Commercial Code Article 4A b. Federal Reserve Bank Operating Circular 4 c. Regulation D d. Regulation CC - correct answer Regulation D Which of the following specifically addresses national banks and their need to evaluate large dollar payment system network risks and requires reporting this to top management and maintaining agreements with all ...

APRP Vocab correctly answered 2023ACH Automated Clearing House ACH Network Backbone for the electronic movement of money and data, a processing and delivery system that provides for the distribution and settlement among financial institutions of electronic credits and debits, as well as, non-monetary entries with payment related information 01:10 01:18 ACH Operator Central clearing facility that receives entries from the ODFIs and distributes the entries to the appropr...

What are the primary functions of NACHA? - Precise Answer manages the development, administration, and governance of the ACH Network. Who are the ACH Operators? - Precise Answer EPN or FRB What is the function of the ACH Operators? - Precise Answer central clearing facility for the clearing, delivery and settlement of entries between and among participating DFIs. Which Regulations govern FEDWIRE funds transfer? - Precise Answer Reg J, Subpart B, UCC4A, Reg CC, BSA, OFAC, Federal Reserve...

Healthy Body Wellness Center (HBWC) High-Level Technical Design Version 1.0 Updated 4/21/2020 HBWC High-Level Technical Design Table of Contents High-Level Technical Design 1 1. Introduction (Not required for performance assessment) 4 2. Current Systems 4 3. Goals, Objectives, and Rationale for New or Significantly Modified System 4 3.1 Project Purpose 4 3.2 System Goals and Objectives 4 3.3 Proposed System 4 3.3.1 System Scope 4 3.3.2 Processes Supported 4 3.3.3 High-Level Funct...

ACH -Correct Answer Automated Clearing House ACH Network -Correct Answer Backbone for the electronic movement of money and data, a processing and delivery system that provides for the distribution and settlement among financial institutions of electronic credits and debits, as well as, non-monetary entries with payment related information ACH Operator -Correct Answer Central clearing facility that receives entries from the ODFIs and distributes the entries to the appropriate Receiving Depo...

3 Types of Customer Payments: - Correct Answer-EFT (electronic funds transfer), Paypal on web store, Credit Card processing ACH (what is it, and it is the only way to do what?) - Correct Answer-Automated Clearing House (process transactions through ACH network for EFT) The only way to pay vendors in NS. EFT - Correct Answer-Electronic Funds Transfer (transfer directly from bank account) Nexus - Correct Answer-how to collect and pay taxes in different areas of the world (defines jurisdic...

ACH applications requiring the Originator to use a MICR reading device to capture the Receiver's banking information from the MICR line of the source document. - correct answer - 1. Point of Purchase (POP) (2) Accounts Receivable (ARC) Entries (3) Back office conversion (BOC) Entries Implements the Expedited Funds Availability Act of 1987 - correct answer - Reg CC The amount of time Depository Financial Institutions must retain all ACH records - correct answer - 6 years Commercial whol...

Over the past 3 years XYZ Company has expanded into multiple countries and significantly grown its banking relationships. The company now incurs significant expenses related to payment transaction costs and maintaining multiple bank connections. What shoudl the company use to cobat these rising costs. A. SWIFT network B. ACH Network C. CHIPS network D. TARGET 2 - A An Instrument that gives the right to buy a stated number of shares of common stock at a specified price is known as a. An...