Ach policy 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 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...

A check is not considered a negotiable instrument under Regulation CC if it... correct answer: Is not printed with MICR Ink FedWire Funds are final and irrevocable upon completion of processing by the... correct answer: Federal Reserve Banks A security procedure is not considered commercially reasonable for a wire transfer if... correct answer: The security procedure is only compared to a signature Real-time Payments (RTP) allows a financial institution to limit its exposure risk by....

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...

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...

APRP Vocab Study Guide Exam Questions. 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 th...

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...

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

APRP Vocab Already Graded A+ ACH (Automated Clearing House) and Related Concepts - ACH: Automated Clearing House. - ACH Network: The backbone for electronic money movement and data processing, facilitating distribution and settlement of electronic credits, debits, and non-monetary entries among financial institutions. - ACH Operator: Central facility for clearing that receives entries from Originating Depository Financial Institutions (ODFIs) and distributes them to Receiving Depository ...

APRP Vocab Verified Latest Answers 2024 Quiz.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 distribut...