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Aap Rules & Regs

45 Questions  I  By Tmarkey
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This is a practice test regarding the AAP Examination for 2008. This quiz reflects the ACH Rules & Regulations that will be coveredon the exam.

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Question Excerpt

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1.  NACHA, Operating Rules: Article 1
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B.
C.
D.
2.  NACHA, Operating Rules: Article 10
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B.
C.
D.
E.
3.  NACHA, Operating Rules: Article 11
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B.
C.
D.
4.  NACHA, Operating Rules: Article 12
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B.
C.
D.
5.  NACHA, Operating Rules: Article 13
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B.
C.
D.
6.  NACHA, Operating Rules: Article 14
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B.
C.
D.
7.  NACHA, Operating Rules: Article 2
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B.
C.
D.
8.  NACHA, Operating Rules: Article 3
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B.
C.
D.
9.  NACHA, Operating Rules: Article 4
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B.
C.
D.
10.  NACHA, Operating Rules: Article 5
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B.
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D.
11.  NACHA, Operating Rules: Article 6
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B.
C.
D.
12.  NACHA, Operating Rules: Article 7
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B.
C.
D.
13.  NACHA, Operating Rules: Article 8
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B.
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D.
14.  NACHA, Operating Rules: Article 9
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B.
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D.
15.  Notice posted to Consumer - Comes from Regulation ___.
16.  OCC 235 addresses large payment system risk that applies to_________________.
17.  Recurring Payment - Notice to stop payment in ___ days.
18.  REG E allows ____ days to dispute an error.
19.  Reg ____ permits 6 payments for a month period with 3 out of the 6 being ACH. If this is not the case, the account needs to be __________.
20.  Reg E does not cover _________ and ___________.
21.  Regulation _____ is rights to the consumer. Does not cover __________ accounts.
A.
B.
C.
D.
22.  Regulation _______ governs certain aspects of check collectio such as funds avialability to the check depositor.
23.  Regulation CC was created by ____________ in _______.
24.  Regulation _____ includes reserve requirements of Depository Institutions
25.  Regulation E can be modified by:
A.
B.
C.
D.
26.  What Regulation encompasses the check collection process when the Federal Reserve is used?
A.
B.
C.
D.
27.  UCC - Wholesale = corporate/commercial entries in ACH with what SEC codes:
A.
B.
C.
D.
28.  UCC 4A is wholesale  ________ transfers, wire transfers, and wholesale ACH ________ entries.
29.  Under what rule, does liability occur after the acceptance of an entry. "If you accept you have to post, can't later reject or vice versus"
A.
B.
C.
D.
30.  UCC4A - Acceptance does not occur at the RDFI if the Receiver does not _______, _________, or ____________.
31.  What Regulation has comercially Reasonable Security Procedures?
A.
B.
C.
D.
32.  The only rule applicable to On-Us entries
33.  UCC 4A Section _________ is notice by the ODFI to Originator
34.  UCC 4A Section __________ is Notice by RDFI to Receiver.
35.  UCC 4A is adopted by all states except: 
36.  UCC 4A was amended in _______ by ___________ to reflect ___________..
37.  UFF 4A - When does acceptance occur for the ODFI?
A.
B.
C.
D.
38.  Entries subject to REG ___ are not covered by ___________ and vice versa.
39.  4A covers ___________ transactions; commercial and wholesale
40.  UCC4A: ____________ is obligated to pay the ODFI if the entry is accepted.
41.  UCC 4A - Credit given by the RDFI to the Receiver is provisional until___________. 
42.  UCC4A: If settlement does not occur _______ is entitled to a refund.
43.  UCC4A - RDFI not required to provide:
44.  UCCA3 Governs:
45.  Under Reg E, how long does an institution have to resolve the error without providing a provisional recredit of the amount in question?
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