Nacha Operating Rules And Guidelines! Trivia Quiz
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National Automated Clearing House Association NACHA
- 1.NACHA, Operating Rules: Article 1
- A.
General information
- B.
Check Truncation
- C.
Originators
- D.
None of the above
- 2.NACHA, Operating Rules: Article 10
- A.
Receivers
- B.
Originators
- C.
Check Truncation
- D.
Checks
- E.
None of the above
- 3.NACHA, Operating Rules: Article 11
- A.
Receipt of Entries
- B.
Cross Border Payments
- C.
Originating Entries
- D.
None of the above
- 4.NACHA, Operating Rules: Article 12
- A.
Requirements of Receivers
- B.
Requirements of Originators
- C.
Requirements of Associations
- D.
None of the above
- 5.NACHA, Operating Rules: Article 13
- A.
Cross Border Payments
- B.
Requirements of Associations
- C.
Amendment of the Rules
- D.
None of the above
- 6.NACHA, Operating Rules: Article 14
- A.
Recall, Stop Payment
- B.
Definition of Terms
- C.
Cross Border entries
- D.
None of the above
- 7.NACHA, Operating Rules: Article 3
- A.
Obligations of Receivers
- B.
Originators
- C.
Obligations of Originators
- D.
None of the above
- 8.NACHA, Operating Rules: Article 4
- A.
Obligations of Originators
- B.
Obligations of thrid party senders
- C.
Receipt of Entries
- D.
None of the above
- 9.NACHA, Operating Rules: Article 5
- A.
Obligations of third party senders
- B.
Returns, Adjustments, Corrections
- C.
Recall, Stop Payment
- D.
None of the above
- 10.NACHA, Operating Rules: Article 6
- A.
Recall, Stop Payments
- B.
Returns, Adjustments, Corrections
- C.
Obligations of Originators
- D.
None of the above
- 11.NACHA, Operating Rules: Article 7
- A.
Settlement & Accountability
- B.
Recall, Stop Payment
- C.
Receipt of Entries
- D.
None of the above
- 12.NACHA, Operating Rules: Article 8
- A.
Obligations of third party senders
- B.
Recall, Stop Payment
- C.
Settlement & Accountability
- D.
None of the above
- 13.NACHA, Operating Rules: Article 9
- A.
Obligations of third party senders
- B.
Obligations of Originators
- C.
Obligations of ACH Operators
- D.
None of the above
- 14.Notice posted to Consumer - Comes from Regulation ___.
- 15.OCC 235 addresses large payment system risk that applies to_________________.
- 16.Recurring Payment - Notice to stop payment in ___ days.
- 17.REG E allows ____ days to dispute an error.
- 18.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 __________.
- 19.Reg E does not cover _________ and ___________.
- 20.Regulation _____ is rights to the consumer. Does not cover __________ accounts.
- A.
E., Consumer
- B.
D., Transaction
- C.
E., Business
- D.
None of the above
- 21.Regulation _______ governs certain aspects of check collectio such as funds avialability to the check depositor.
- 22.Regulation CC was created by ____________ in _______.
- 23.Regulation _____ includes reserve requirements of Depository Institutions
- 24.Regulation E can be modified by:
- A.
Member Financial Institutions
- B.
Board of Governors of Federal Reserve
- C.
Payments Associations
- D.
None of the above
- 25.What Regulation encompasses the check collection process when the Federal Reserve is used?
- A.
Regulation E
- B.
Regulation CC
- C.
Regulation J
- D.
None of the above
- 26.UCC - Wholesale = corporate/commercial entries in ACH with what SEC codes:
- A.
PPD, CCD
- B.
CCD, CTX
- C.
PPD, SHR
- D.
None of the above
- 27.UCC 4A is wholesale ________ transfers, wire transfers, and wholesale ACH ________ entries.
- 28.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.
Regulation CC
- B.
Regulation J
- C.
UCC 4A
- D.
None of the above
- 29.UCC4A - Acceptance does not occur at the RDFI if the Receiver does not _______, _________, or ____________.
- 30.What Regulation has comercially Reasonable Security Procedures?
- A.
UCC 4A
- B.
Regulation E
- C.
FRB Operating Circular 4
- D.
None of the above
- 31.The only rule applicable to On-Us entries
- 32.UCC 4A Section _________ is notice by the ODFI to Originator
- 33.UCC 4A Section __________ is Notice by RDFI to Receiver.
- 34.UCC 4A is adopted by all states except:
- 35.UFF 4A - When does acceptance occur for the ODFI?
- A.
When ODFI executes/transmits file/entry to ACH Operator
- B.
With final settlement of item
- C.
When RDFI sends notification item was accepted
- D.
None of the above
- 36.Entries subject to REG ___ are not covered by ___________ and vice versa.
- 37.4A covers ___________ transactions; commercial and wholesale
- 38.UCC4A: ____________ is obligated to pay the ODFI if the entry is accepted.
- 39.UCC 4A - Credit given by the RDFI to the Receiver is provisional until___________.
- 40.UCC4A: If settlement does not occur _______ is entitled to a refund.
- 41.UCC4A - RDFI not required to provide:
- 42.UCCA3 Governs:
- 43.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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