APRP Study Practice Questions With Correct Answers 2024.
13 views 0 purchase
Course
APRP
Institution
APRP
APRP Study Practice Questions With Correct Answers 2024.
Prepaid/Stored Value Card - correct answer A card-based payment system that assigns a value to the card; some cards can be "reloaded"through various methods and the others are designed to be discarded.
Credit card - correct answer A card ...
aprp study practice questions with correct answers
Written for
APRP
APRP
Seller
Follow
Nursewendo
Reviews received
Content preview
APRP-Exam
Prepaid/Stored Value Card - correct answer A card-based payment system that assigns a value to the card; some cards can be "reloaded"through various methods and the others are designed to be discarded.
Credit card - correct answer A card indicating the holder has been granted a line of credit to make purchases or withdraw cash up to a prearranged ceiling.
Debit card - correct answer A payment card issued to a person for purchasing goods and services through an electronic transfer of funds from a demand deposit account (DDA) rather than using cash, checks drafts at the point of sale.
Credit entry - correct answer An entry to the record of an account that represents the transfer or placement of funds into the account.
Debit entry - correct answer An entry to the record of an account that represents the transfer or removal
of funds from the account.
Electronically Created Item (ECI) - correct answer A check that never appears in paper form.
Remotely Created Check(RDC) - correct answer Check created by a payee based on the account holder's authorization that does not bear a signature.
Remote Deposit Capture (RDC) - correct answer Delivery system that enables paper checks to be processed remotely.
Pay Before - correct answer Type of retail processing where a card payment is made for goods or services
with prepaid or stored-value cards, Pay Now - correct answer Type of retail processing where a card payment is expected when the goods or services are received; generally associated with debit payments(debit cards)
Pay Later - correct answer Type of retail processing where a card payment is expected after the goods or services have been received; typically refers to credit payments(credit cards)
SWIFT - correct answer Global network messaging service supporting correspondent banking and financial market utilities.
Financial Market Utilities(FMUs) - correct answer Multilateral systems that provide the infrastructure for transferring, clearing and settling payments, securities and other financial transactions or between financial institutions and the system.
Application Program Interface (API) - correct answer A list of specifications, standards or conventions that enable computer programs to exchange information.
Payroll card account - correct answer A bank account established directly or indirectly by an employer on
behalf of an employee to which an employees wages are electronically transferred to.
Beneficiary - correct answer Person or entity to be paid in a funds transfer.
Beneficiary's bank - correct answer Financial institution identified in a funds transfer to be credited pursuant to the payment order.
Federal Reserve Bank - correct answer Entity that process and settles Fedwire Funds
Originating/Sender Bank - correct answer Financial Institution that initiates a funds transfer on behalf of the Originator.
Originator - correct answer Sender of the payment order in a funds or securities transfer.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Nursewendo. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R205,25. You're not tied to anything after your purchase.
