Nacha Operating Rules And Guidelines! Trivia Quiz

43 Questions | Total Attempts: 194

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Nacha Operating Rules And Guidelines! Trivia Quiz - Quiz

National Automated Clearing House Association NACHA


Questions and Answers
  • 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

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