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APRP pretest exam with complete solutions 2024.
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APRP pretest exam with complete solutions 2024.
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APRP pretest exam with completej j j j
solutions 2024
j j
Ms. jJones jwrites ja jcheck jto jMr. jSmith. jIn jthe jcheck jpayment jsystem, jwhat jrole
jdo jeach jof jthem jplay? j- jANSWER✓✓-Ms. jJones j= jPayor j; jMr. jSmith j= jPayee
What jterm jdescribes jthe jamount jand jtype jof jrisk jan jOrganization jis jwilling jto
jassume jto jmeet jits jstrategic jgoals? j- jANSWER✓✓-Risk jAppetite
The jpayroll jcoordinator jis jout jsick, jand jnobody jelse jknows jhow jto jprocess jthe
jpayroll jfile jfor jsettlement jon jFriday. jAs ja jresult, jthe jfile jis jnot joriginated. jWhat
jkind jof jcontrols jshould jbe jput jin jplace jto jprevent jthis jfrom jhappening jin jthe
jfuture? j- jANSWER✓✓-Operational jControls
According jto jthe jFFEICs jBusiness jContinuity jPlanning jBooklet, jhow joften
jshould ja jfinancial jinstitution's jenterprise jwide jBCP jtest jbe jconducted? j-
jANSWER✓✓-At jleast jevery j12 jmonths
Which jregulation jestablishes jreserve jrequirements jfor jdepository jfinancial
jinstitutions? j- jANSWER✓✓-Regulation jD
Which jpayment jsystem jrequires jparticipants jto jcomply jwith jPCI jDSS
jrequirements? j- jANSWER✓✓-Card
Which jFederal jReserve jBank jService jallows jfor jthe jelectronic jissuance,
jtransfer, jand jmaintenance jof jsecurities jissued jby jthe jU.S. jTreasury jand
jFederal jGovernment jAgencies? j- jANSWER✓✓-Fedwire jSecurities jService
, The jinability jor junwillingness jof jone jfunds jtransfer jsystem jparticipant jto jsettle
jits jcommitments, jcausing jother jparticipants jto jbe junable jto jsettle jtheir
jcommitments jis jknown jas: j- jANSWER✓✓-Systemic jRisk
Which jACH jparticipant jis jrequired junder jthe jNACHA joperating jrules jto jconduct
ja jrisk jassessment? j- jANSWER✓✓-RDFI
A jfinancial jinstitution's jinternal jcontrols jshould jinclude jsegregation jof jduties
jfor jcritical/sensitive jtasks jbe jseparate jand jassignments jrotated jwhen jtrying jto
jmitigate: j- jANSWER✓✓-Fraud jRisk
What jshould jbe jincluded jin jan jInternet jBanking jPolicy? j- jANSWER✓✓-
Encryption jStandards
Technical jdisruptions jor jhuman jerror jare jconsidered: j- jANSWER✓✓-
Operational jRisk
Which jregulatory jbody jrequires jan jRDFI jto jto jperform ja jreview jof jall jparties jto
jan jIAT jentry jincluding jremittance jand jforeign jcorrespondent jbank jinformation
jfound jin jthe jAddenda jrecords? j- jANSWER✓✓-OFAC
Like jany jother jaudit jprocess, jfinancial jcontrols jshould jbe jgraded jusing jall jthe
jfollowing jcategories jexcept: j- jANSWER✓✓-Weak j; jStrong j; jInadequate j;
jModerate
Answer: jInadequate
If jthe jbeneficiaries' jaccount jis jheld joutside jthe jOriginator's jInstitution, jthe
jparties jwill jcomplete jthe jwire jtransfer jby juse jof ja jpayments jsystem jsuch jas: j-
jANSWER✓✓-Fedwire jFunds jService j; jSWIFT j; jTelex j; jWestern jUnion
Answer: jFedwire jFunds jService
Which jof jthe jfollowing jshould jbe jidentified jin jan jOrganization's jBSA/AML
jPolicy? j- jANSWER✓✓-Designated jBSA/AML jCompliance jOfficer
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