WesPay Accredited ACH Professional (AAP) Practice Exam

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• What is the primary purpose of the asterisk (*) in the Addenda Record?
• What constitutes a 'commercially reasonable' security procedure according to Article 4A?
• Which regulation provides rules for electronic Federal Tax payments?
• Which type of card has a balance that is not tied to a DDA or another financial institution account?
• What must Originators of BOC Entries maintain and display in the notice provided to the Receiver?
• How long must an Originator retain a copy of the front and back of the item related to an RCK Entry from the Settlement Date?
• Which of the following statements about required disclosures under Reg E is accurate?
• Which type of ACH Entry represents the transfer of funds into an account?
• How many banking days does an originator have to notify the receiver of a change in the amount of a debit?
• Which term describes the end of a data segment in EDI?
• What is the retention period for keeping a copy of an RCK item?
• What must accompany the Check Serial Number in an RCK transaction?
• Which record contains the Company Name and Effective Entry Date?
• Which option is the primary purpose of the Notice of Reclamation?
• Who agrees to initiate ACH Entries into the payment system?
• Does Reg E encompass all ACH commercial transactions?
• What form of authentication is acceptable for an ACH consumer debit Entry authorization?
• Upon learning of a beneficiary's death, what action should be taken regarding their benefit payments?
• What should an institution do upon receiving a notification of a disputed transaction?
• What does the Addenda Record Indicator identify?
• What is the allowable return period for an unauthorized CCD or CTX to a corporate account?
• Which of the following is a benefit of using electronic payments for consumers?
• Under what condition is a DFI excused from compliance with obligations under the NACHA Operating Rules?
• What information can an RDFI rely on to post an Entry to a Receiver's account?
• Which option describes the handling of collected ARC source documents until they are destroyed?
• If a PIN is required, it must adhere to which standards?
• What form is used to enroll a consumer for Direct Deposit of Social Security benefits?
• In an IAT transaction, which Addenda Record includes the Transaction Type Code?
• What does Reg E require regarding corrective action and reporting to consumers?
• What does an Originator of BOC Entries need to do to confirm the identity of the Receiver?
• What is the relationship between the Entry Count and the Addenda Records in a batch?
• What type of entries may an Internet-Initiated Entry be authorized for?
• Can DFIs notify consumers of corrected errors via the periodic statement?
• How many calendar days can a corporate account take to return an unauthorized transaction?
• Which component is critical in the electronic processing of written checks?
• What obligation is NOT typically varied by agreement when an ODFI accepts an Entry?
• What document allows the Originator to convert a Receiver's source document into an ACH debit?
• Which Participant assigns the Settlement Date?
• What type of risk is indicated when ABC Company cannot cover the amount of its payroll due to insufficient funds?
• What does the OFAC Screening Indicator Field provide to the RDFI?
• What must each Originator verify when originating WEB Debit Entries?
• What kind of procedures must Originators who initiate TEL Entries use to verify the identity of the Receiver?
• Each Participating DFI must maintain an account with which entity?
• How frequently are Originators required to audit their security practices for WEB debit entries according to NACHA Operating Rules?
• What is the role of the Federal Reserve in the ACH transaction process?
• What must occur if an Originator changes the scheduled debit payment date?
• What is the time frame for initiating a dishonor return?
• What kind of payments do Fedwire Securities operate on?
• How many banking days does an organization have to contest a dishonored return?
• What kind of risk can arise if a financial institution does not keep up with regulatory changes?
• What is the Company Entry Description for an RCK Entry?
• Which regulations must the Gateway (Operator) comply with?
• What type of risk arises from a financial institution that does not balance its Federal Reserve account?
• Which type of debit card leads to an immediate transfer of funds?
• What is an essential recordkeeping requirement for ODFIs involving Originators?
• What element must be included with BOC notice for Receiver verification?
• How is authorization for a WEB Entry typically provided?
• Which SEC Code requires a unique Batch Header Record?
• For a filed reversal, which of the following might not be changed?
• Which of the following is considered a false statement regarding a blocked party on the OFAC list?
• Under what condition will ACH funds be available within one business day for certain transactions?
• How soon must the first live dollar entry follow the settlement date of a prenote?
• What type of Entry does not require prior authorization from the Receiver?
• Upon request from an ODFI, how soon must a WSUD be provided?
• What type of entry would typically include a Customer SSN and amount information?
• What does the Standard Entry Class Code WEB help identify?
• What is the maximum fine for a third recurrence of a Class 1 Rules Violation?
• A copy of the source document for an ARC Entry must be kept for how many years from the Settlement Date?
• How often must the Financial Organization Master File be updated?
• What must financial institutions assess according to OCC 235?
• What does a "blocked party" on the OFAC list indicate?
• What is the required time frame for notifying a receiver about a change in the amount of a debit?
• What does ARC stand for in the context of the Standard Entry Class Code?
• What must the source document used for an ARC Entry be until it is destroyed?
• What does a blank payment type code field in a TEL entry signify?
• What must a DFI do when it receives a notice of an error according to Regulation E?
• What distinguishes a credit card transaction from a debit card transaction?
• What does Regulation E classify as "errors"?
• Which regulations govern WEB Entries alongside NACHA Operating Rules?
• What legislation allows for the use of electronic signatures in accordance with specific terms?
• What application is used by merchants to collect funds on a Check returned NSF?
• How long after the occurrence must a Report of Possible Rules Violation be submitted to NACHA?
• In the context of ACH transactions, what does it mean when a file is deleted during transmission?
• What must an ODFI provide to an RDFI when making a batch file transmission?
• What class of Rules Violation allows the Rules Enforcement Panel to suspend an Originator from originating?
• According to Regulation E, how is a consumer's request for information about a potential error categorized?
• What type of risk is associated with an Originator's payroll being accidentally deleted by an ODFI employee?
• What type of information does the Addenda Type Code indicate?
• Who would be referenced as an Individual Representative Payee?
• What is the nature of an ARC Entry?
• What type of entry serves as a preliminary notification before the actual transaction?
• An RCK Entry determined to be ineligible must be returned by when?
• What type of entry allows only the Originator's financial institution to remove funds?
• What is the deadline for sending a Report of Possible Rules Violation after the date of occurrence?
• What does a record's character count signify in ACH formatting?
• What kind of risk is represented by a company experiencing late payments on its line of credit while sending multiple CCD+ payments?
• How do electronic payments improve cash flow for corporations?
• What does a Gateway refer to in the context of ACH Transactions?
• What role do Regional Payments Associations serve in the ACH system?
• True or False: An ACH Operator acting as a Gateway will accept Inbound IAT Entries that are ACH credits or debits.
• Which field in the Batch Header Record can be changed to initiate a file reversal?
• Are Reg E requirements for notices regarding varying amounts and stop payments for recurring payments the same as NACHA requirements?
• ODFIs must maintain what type of documentation about each Originator of BOC Entries?
• Which types of Federal payments are typically subject to Reclamation?
• What is the role of the Originating Depository Financial Institution?
• What must an Originator provide to a Receiver prior to originating an ARC Entry?
• What must the Originator verify about the Receiver when processing a TEL Entry?
• Which SEC Code requires that the Addenda Records be included on a Return Entry?
• What is the primary function of the ACH Network?
• How long does an originator have to provide NOC or corrected NOC information to the originator?
• What defines a 'commercially reasonable' method that Originators must employ for protecting sensitive information?
• When an IAT transaction has Remittance and Foreign Correspondent Bank information, what is the maximum for each?
• What is the timeframe for response to a Notice of Reclamation?
• Which regulation applies specifically to government securities issued by the Bureau of Public Debt?
• How long does a Federal government agency have to initiate a Notice of Reclamation?
• A financial institution remains unaware of a new rule that reduces the time for sending corrected returns. This scenario exemplifies which risk?
• According to UCC 4A, what types of ACH Entries are addressed?
• Which risk is inherent when companies frequently make late payments on their credit lines?
• What is one of the main benefits of using the ACH network?
• If a batch contains 50 credit transactions and 25 debit transactions, what is the total Entry/Addenda Count?
• What action is required for the Receiver's Check in a Point-of-Purchase application?
• Which of the following is NOT used by the Federal Government to trace a lost Federal government payment?
• Originators of POP Entries are required to capture which three pieces of information from the MICR line?
• Prior to processing an entry, what is essential regarding the authorization?
• What are examples of ACH credits?
• How long must a copy of an XCK be retained?
• What is the maximum number of calendar days allowed to make a notification to the receiver of a change in the date of debit?
• How many years must an Originator maintain a Customer Service Telephone Number with respect to BOC Entries?
• Which Record contains the Service Class Code and what does it identify?
• How long does a financial institution have to return an unauthorized ACH entry?
• If a consumer does not report loss or theft of an access device within two business days, what could be the consequence regarding liability?
• Under what condition may an RDFI limit its liability for post-death payments?
• Which of the following is considered one of the world's oldest forms of payment?
• What is the traditional Check characterized as in terms of payment instruments?
• What financial institution is responsible for the initial processing of a check?
• The development of the ACH system helps in improving productivity over which traditional transaction method?
• Which organization was established in 1974 to coordinate the ACH movement nationwide?
• What type of claims does "C" represent in the context of claims processing?
• In which record is the Entry Hash typically found?
• How many characters is the Trace Number field, and which Participant does it identify?
• In the context of EDI, what does IAT stand for?
• In which record do you find the Block Count?
• What should a financial institution do when it discovers an error in transaction processing?
• What information must receipts for a Point-of-Purchase transaction include?
• Which regulation governs Federal payments made through the ACH Network?
• What is the primary purpose of Direct Deposit in the context of funds movement?
• What must an RDFI place on the Receiver's Statement for certain IAT transactions?
• Which of the following obligations under UCC 4A may be varied by agreement?
• True or False: A Gateway can only accept domestic transactions.
• Which of the following describes the process starting with the receipt of the Check by the Originator for an ARC Entry?
• What is the status of the Country Code approved by the International Organization for Standardization (ISO)?
• When seeking a claim for unauthorized returns, which entity does the ODFI report to?
• When must an RDFI return all payments received?
• What does the Originator Status Code identify in an ACH Record?
• What is no longer required for each Originator initiating a WEB Entry according to the ODFI?
• What field must be altered in the Entry Detail Record for a file reversal?
• What is the requirement for the Originator of a Single-Entry TEL regarding consumer authorization?
• Which body regulates the ACH transactions according to the established rules?
• How many pieces of information must generally be included in ACH authorizations?
• What reason cannot be used to return a Point-of-Purchase Entry?
• How often does an ODFI need to assess the originators for unauthorized returns?
• Which type of transactions does the IAT Entry utilize?
• In which decade did the ACH movement begin?
• How may an ODFI request an RDFI to return or adjust an Erroneous Entry?
• Which Federal government payment is NOT subject to Reclamation?
• Which Return Reason Codes are restricted to Gateway use only?
• Which two conventions advanced the processing of paper checks?
• Which type of accounts are exempt from Reg E disclosure requirements?
• Which payment system operates in a real-time environment, processing each transaction as it is initiated?
• What type of system is the Fedwire Funds Service?
• What must the Originator of a BOC Entry verify about the Receiver?
• What type of transaction requires a return code of R01?
• What situation requires a Treasury-disbursed Federal payment to be returned?
• What does the closure of a foreign bank's operations, including ACH processing, due to economic hardship illustrate in terms of risk?
• Who are the beneficiaries of the NACHA Operating Rules?
• What type of transaction is initiated orally by a Receiver in a Single-Entry consumer debit scenario?
• What is the purpose of Regulation D in relation to depository institutions?
• What does the term "delimiter" refer to in EDI terms?
• What type of Check information must an Originator capture during the initial process for a BOC Entry?
• What is the purpose of an IAT Entry in ACH transactions?
• If a Gateway discovers an OFAC hit in an IAT debit, what must it do?
• What is the requirement for an ODFI when the National Association requests information about an Originator's Unauthorized Return Rate?
• Which field in the IAT Addenda Record contains Check Serial Number and Terminal information for a POP transaction?
• What advantage do corporations gain from utilizing Direct Deposit and Direct Payment?
• Which governing document, along with NACHA Operating Rules, regulates TEL Entries?
• What is the time frame for the return of an XCK entry?
• What must the ODFI demonstrate after an NOC failure to avoid fines?
• What is the dollar limit for a Point-of-Purchase Entry?
• What do ACH Operators manage in the payment system?
• Which return reason indicates that a transaction was unable to be processed due to a revoked authorization?
• What must an Originator of BOC Entries employ to verify the identity of the Receiver?
• Which participant creates an image of the original check?
• For how long must the Originator retain a copy of the front and back of the item related to an RCK Entry?
• For a BOC Entry, the Receiver's source document must contain what specific element?
• What method does an Originator use to initiate an ARC Entry when Checks are received?
• What is the minimum amount required for a claim to be processed under Arbitration?
• Which card allows users to shop online and charge the cost to an account that is settled later?
• How long must ODFIs maintain documentation for each Originator of a BOC Entry?
• Under Reg E, how is the liability determined if unauthorized transactions would not have occurred if the access device had been reported lost earlier?
• In the provided scenario, what action does the programmer take to commit fraud?
• Which entity warrants that the signature is genuine on all XCK Entries?
• What is the maximum number of Addenda Records for Foreign Correspondent Bank information in an IAT transaction?
• Within how many calendar days must originators make specified changes in response to an NOC?
• For what reason do billers offer Electronic Bill Presentment and Payment (EBPP) to customers?
• After a fourth Rules Violation related to an NOC, what fine does NACHA impose on an ODFI?
• A fourth recurrence of a rules violation is classified as what?
• What must an Originator do prior to the initiation of the first credit or debit Entry?
• For how long must the Originator retain a copy of the front of the source document for an ARC Entry?
• Where can the Transaction Type Code be found?
• In which record are the OFAC Screening Indicators found for an IAT Entry?
• Which detail is not included in the addenda record of a Death Notification Entry (DNE)?
• For how many years must consumer authorization records be retained after termination?
• Which document is necessary for the authorization of an ACH debit?
• What is the time frame to originate an NOC from the settlement date of the original entry?
• What is the name of the master list of financial institutions receiving Federal government ACH payments?
• Each originator of WEB Debit Entries must have employed which system to screen each WEB Debit Entry?
• If a transaction is made to the wrong account, what should be included in the return reason?
• For how long can an RDFI return a Point-of-Purchase Entry for the reason of unauthorized transaction?
• An ACH Operator must total what two types of activities during each Banking Day?
• What should the agreement between the originating company and ODFI define?
• What unique identifier is provided in a Child Support Payment entry?
• Which type of card does not result in a direct transfer of funds from the Payor to the Payee?
• What is the primary purpose of an ACH audit?
• What is the primary purpose of the ACH Fines and Enforcement mechanism?
• Are U.S. Military Bases and Embassies considered under U.S. jurisdiction for transactions?
• What does the acronym RDFI stand for in the context of ACH?
• How long does Reg E allow to resolve POS errors or electronic fund transfers (EFTs) not initiated within a state compared to pre-authorized EFT errors?
• What type of device must the Originator use to initially capture MICR information for a BOC Entry?
• Which entity defines the NACHA Operating Rules that bind parties in an ACH transaction?
• What is the Entry Hash in ACH records?
• What kind of entry is typically submitted for notifying about a person’s passing?
• What does NOC stand for in the context of IAT Entries?
• What must Third-Party Senders provide upon the ODFI's request?
• What is an Automated Clearing House Operator?
• What is the advanced notice required for a Point-of-Purchase transaction?
• What factor is NOT considered when assessing 'commercially reasonable' security procedures?
• What is the maximum benefit amount a consumer can receive through the Direct Deposit of Social Security benefits?
• What is the maximum fine for a Class 3 Rules Violation per month until resolved?
• What identifier might you encounter alongside a vendor in an Addenda Record?
• Which document outlines a written statement upon request from an RDFI?
• What primarily distinguishes Fedwire from other payment systems?
• What is the maximum time frame for retaining unauthorized return records?
• How many banking days is allotted to originate a commercial reclamation from the date of death notification?
• Which of the following best describes the settlement of claims between DFIs?
• Can the IAT SEC Code be used for ACH transactions to consumer or corporate accounts?
• What is the maximum dollar amount for a Point-of-Purchase transaction?
• When a bank fails to process transactions due to employee absence, it signifies what type of risk?
• What obligation does an ODFI have upon initiating a Reversing or Correcting File?
• What risk does a company filing for bankruptcy after tax payments have been transmitted by an ODFI indicate?
• What classification of risk does an ODFI employee adding a payment to her own checking account represent?
• What must an RDFI do after learning of a recipient’s death to limit liability?
• A government agency benefit payment that is exempt from the Garnishment Rules will have ________ encoded in Positions 54 and 55 of the "Company Entry Description" Field of the Batch Header Record.
• How must the MICR information be captured by the merchant for a Point-of-Purchase Entry?
• What is the nature of economic sanctions administered by the OFAC?
• If both employees responsible for ACH exception processing fall ill on the same day, what risk category does this fall under?
• What is the maximum dollar limitation for RCK Entries?
• What is required for the Originator of a BOC Entry in order to communicate with the Receiver?
• How many banking days does an ODFI have to report to NACHA about an originator with excessive unauthorized returns?
• Which panel has the authority to suspend an Originator for a Class 3 violation?
• What information is required to demand payment for returned reclamation entries?
• Which of the following must an ODFI do when they accept an Entry subject to UCC 4A?
• Which regulation establishes procedures for the interbank system of collecting checks and wire transfers?
• In the context of UCC 4A, how is acceptance defined for the RDFI?
• Which regulation specifies the obligations of RDFIs and ODFIs in ACH transactions?
• Which type of risk is involved when a computer crash prevents the transmission of origination files?
• Which of the following is an invalid reason for the return of a Point-of-Purchase Entry?
• What role does a Correspondent Bank play in relation to Gateway transactions?
• What is the maximum number of calendar days allowed for an originator to make changes specified in a Notification of Change (NOC) related to a recurring entry?
• The Originator of an ARC Entry must employ commercially reasonable methods to securely store which type of information?
• What is it called when a check is sent to another depository institution for collection?
• In an IAT transaction, how many Addenda Records can be used for Remittance?
• How long does a consumer have to return a revoked or unauthorized transaction?
• What does the term “final settlement” mean in relation to RDFI acceptance?
• What risk type is demonstrated when an employee makes unauthorized transactions to her own account?
• What type of processing system is the ACH system designed as?
• What role does Direct Deposit play in relation to employee satisfaction?
• What is the maximum time allowed for an ODFI to respond to a request from the National Association regarding an Originator's Unauthorized Return Rate?
• Which entries are relevant when discussing the RDFI's obligation to provide information contained in the Payment-related Information Field?
• When is a PPD credit Entry made available to the Receiver for withdrawal?
• What methods can the Check, relative to an initiated ARC, be delivered to the ODFI?
• When must the authorization for an Entry processed by an RDFI have not been terminated?
• The Addenda Indicator has a value of _____ or ____.
• If a financial institution has an asset size of $100 million or less, which of the following is true regarding debits and credits it receives?
• Which of the following is a reason to use a Notification of Change?
• How is an OFAC hit classified when discovered by a Gateway in an IAT debit?
• An RDFI may contest or correct a dishonored Return Entry provided it is done within how many Banking Days of the Settlement Date?
• What is a key characteristic of fraud risk in ACH transactions?
• What is the purpose of the OFAC sanctions?
• How many times can Entries that are returned as R01 and R09 be reinitiated after the original return?
• Which of the following actions is prohibited under the NACHA rules for ACH transactions?
• What is required to be provided to the consumer prior to receipt of the Check for an RCK transaction?
• What does OCC 235 address?
• In the context of payment systems, which type of transfer is considered irrevocable?
• For recurring debits with varying transaction amounts, which requirement is NOT applicable?
• How long prior to the notice of reclamation can Treasury reclaim post-death payments?
• What is the maximum number of Addenda Records that may be transmitted with an IAT Entry?
• How many banking days must changes specified by the NOC related to a recurring entry be made before the next transaction?
• Which of the following is NOT a feature of the ACH network?
• In what format is the Settlement Date represented?
• When does acceptance of an ACH Entry occur for the ODFI?
• What is the Standard Entry Class Code for a Point-of-Purchase Entry?
• Which entity governs the specific rules for electronic fund transfers for consumers?
• What does the consumer need to be informed about regarding the use of the source document for an ARC Entry?
• Which office administers economic sanctions and embargo programs?
• Which article of the Uniform Commercial Code governs wholesale electronic funds transfers?
• Which type of payee would a home or institution typically fall under in the context of ACH?
• In the event of a reclamation entry, how many banking days does the originator have to make a demand for payment?
• How many pieces of information are required for a TEL authorization?
• True or False: The IAT Entry Header Record is not related to the transaction details.
• How long does a DFI have to report the results of its investigation after completing it?
• Which Record contains the file creation time and date?
• What would you find in the field denoted "N1" in an Addenda Record?
• What system allows electronic payments for goods or services purchased at retail establishments?
• A Federal Tax Refund comes into your FI and shows up on your exception list because the savings account number is 232425 and there is no such savings account number. You should return the entry ____.
• Why should financial institutions use the phrase "via ACH" when promoting Direct Deposit and Direct Payment?
• Who is the current private sector operator of the ACH Network?
• What must the Originator and ODFI establish before initiating transactions in the ACH network?
• What type of security measures must the Originator of a WEB Debit Entry employ?
• Which obligations under UCC 4A are superseded by NACHA Operating Rules?
• What does Regulation E govern?
• What action must a financial institution take upon assisting in completing an Enrollment Form for EFTPS?
• An ACH Operator acting as a Gateway must not process which type of Inbound IAT Entries?
• Which part of Title 31 of the Code of Federal Regulations provides foundational information in the Green Book?
• What is the primary advantage of a batch processing system in ACH?
• What is the time limit for an RDFI liability after receiving notice of death?
• How many banking days should an RDFI allow for a request to receive a copy of an item related to RCK?
• What is a benefit to financial institutions for offering electronic payment services?
• In what form are Fedwire Securities held and transferred?
• To ensure security, what is one method required for WEB Debit Entries?
• What is the required action an Originator must take after securing the Eligible Source Document?
• How many calendar days must an Originator provide notice if they change the payment date of a scheduled debit?
• What is the main difference between a credit card and a debit card?
• What does the indicator "R" in the Entry Detail Record signify?
• What is the largest dollar amount a single ACH transaction can be?
• What is the purpose of a Fraudulent Transaction Detection System for a WEB Debit transaction?
• In ACH transactions, what information do you typically input for a Death Notification Entry?
• How is an ARC Entry initiated?
• Which payment type is often subject to special handling requirements and regulations?
• In TEL transactions, the term 'Receiver' refers to what?
• Which of the following describes Direct Payment effectively?
• What is another name for the Payee's Depository Financial Institution?
• What is the role of the backslash (\) in an Addenda Record?
• An Originator or ODFI must originate a Reclamation Entry or written demand for payment within how many banking days after receiving notice of the death of the Receiver?
• What is the time frame for originating a file or single entry reversal after the settlement date of the transaction(s)?
• What type of risk does an RDFI face when a stale dated Effective Entry Date results in delayed funds?
• Which card is primarily used by consumers at ATMs for cash withdrawal?
• When sending an NOC related to an IAT Entry, how many Mandatory Addenda Records are required?
• What is one key responsibility of an Originator when completing a TEL process?
• Which of the following actions is expected from an RDFI upon accepting an ACH Entry?
• How many business days do DFIs have to correct confirmed errors?
• For which of the following reasons can a Notification of Change not be done for a Federal government benefit payment?
• In the context of ACH transactions, what role does the RDFI play?
• What type of payment stop must the RDFI return within a specified timeframe?
• How many characters of payment related information are allowed for in the Addenda Record of CCD and CTX transactions?
• How quickly must a Reversing File be made available to the ACH Operator upon discovery of an erroneous file?
• What is the primary obligation triggered for the ODFI upon acceptance of an Entry?
• How many banking days does one have to respond to an NOC by making the necessary changes?
• How does Fedwire process transactions?
• If a consumer places a stop payment on the check for a Point-of-Purchase Entry, when must the return be received by the ODFI?
• What is the required retention period for all ACH records by ODFI and RDFI?
• If financial institutions establish that unauthorized transactions would not have occurred due to timely reporting, what is true about consumer liability?
• Which statement regarding the OFAC Screening Indicators in the IAT format is true?
• Which Record is important for providing standard entry class details?
• What does Regulation D specify regarding depository institutions?
• What timeframe is established for an originator to provide a Notification of Change or corrected notification to a receiver?
• Which of the following can be added to the face amount of a Check in an RCK transaction?
• What information must the RDFI provide to the Receiver if requested regarding an Entry by the opening of business on the second Banking Day following the Settlement Date?
• Which code indicates if an Entry contains Addenda?
• What type of Check is an ARC Entry associated with?
• If a DFI receives an error report after two business days, what happens to the consumer's liability for unauthorized transactions?
• What is the time frame for an organization to originate a return following the date of death notification?
• What is the retention period for ACH records maintained by the ACH Operator?
• What is the required retention period for a copy related to an RCK item?
• Which financial arrangements necessitate the use of an Originator?
• What is the penalty for a Class 2 Rules Violation?
• What is the allowable response time to a refused NOC?
• What document must be kept by the merchant in a Point-of-Purchase transaction?
• Before returning an ACH debit Entry as unauthorized, an RDFI must have a written statement signed by whom?
• Before initiating a TEL Entry, what must there be between the Originator and the consumer?
• When the RDFI requests a copy of a Receiver's authorization in writing, how many Banking Days does the ODFI have to provide it?
• Which procedure must an RDFI follow regarding requests from ODFIs?
• Must a depository financial institution (DFI) provisionally re-credit a consumer's account even if written confirmation is required following an oral notice of an error and the customer fails to provide it?
• If an ODFI cannot provide NACHA with a requested ACH Audit report, what class of Rules Violation is it considered?
• What fields are required to be passed to the Receiver in the POS Addenda Record?
• How many banking days are allowed to contest or correct a dishonored return?
• What is the term for a natural person or organization authorized to initiate an ACH Entry to its account with the RDFI?
• Which form is used for direct deposit enrollment for veterans' benefits?
• What is the time limit for responding to an NOC that has been refused?