ACH AAP STUDY GUIDE QUESTIONS
AND ANSWERS
ACH AAP STUDY GUIDE QUESTIONS
AND ANSWERS
R37 ANSWER Reason code used by RDFI when the source
document for an ARC has been presented for payment
2 times ANSWER How many times can ODFI reinitiate a POP
transaction when it i...
R37 ANSWER Reason code used by RDFI when the source
document for an ARC has been presented for payment
2 times ANSWER How many times can ODFI reinitiate a POP
transaction when it is returned for either R01(insufficient funds)
or R09 (uncollected funds)
1. Manually post the entry
2. Manually post the entry and initiate a Notification of Change
(NOC)
3. Return the entry ANSWER What can RDFI do with an entry
that does not post?
Settlement Date ANSWER NOT a field minimally included in
the File Acknowledgment Entry from the ACH Operator for
each file that was not rejected by the ACH Operator
A required field ANSWER What must be included by the ODFI
or the file will be rejected by the ACH Operator
CTX (corporate trade entry)
CCD (corporate credit or debit entry) ANSWER Standard Entry
Class codes that can be used for non-monetary payments
CIE (Customer Initiated Entry) ANSWER Credit only
application, associated with home banking
, ATX (Financial EDI Acknowledgement) ANSWER
Acknowledgment of receipt of a corporate credit payment
originated using the CTX format
POS (Point of Sale) ANSWER Debit entry initiated at an
electronic terminal as defined by Reg E to effect a transfer of
funds from a consumer account to pay an obligation incurred in
a point of sale transaction
MTE (Machine Transfer Entry) ANSWER Debit or credit Entr to
transfer funds to or from the consumers account, initiated at an
electronic terminal as defined by Reg E
The Monetary Control Act of 1980 ANSWER Legislation that
encouraged private sector ACH Operators to compete with the
Federal Reserve
"Initiated by a person other than the consumer, without actual
authority to initiate such transfer from which the consumer
receives no benefit ANSWER According to Reg E, what best
describes the following: "unauthorized EFT"
The Routing number ANSWER NOC is to provide the correct
data to an Originator so they can change what
1. Statement of damages
2. Summary of facts
3. Application fee ANSWER To initiate an Arbitration
proceeding between DFIs, a compliant must contain what items
1. Reduced costs
2. Acceleration of the recovery process
3. Reduction of potential losses due to delays in presentment
ANSWER Advantages of using ACH for collection of destroyed
or lost checks
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