Page 1 of 29
2026 AAP PRACTICE EXAM COMPLETE
CURRENT TESTING QUESTIONS AND
DETAILED CORRECT ANSWERS (VERIFIED)
GUARANTEED PASS/TOP-RATED A+.
AAP
A U.S.-domiciled money transmitter receives a payment
order from a foreign customer at one of its foreign branch
offices to send funds to a Receiver in the U.S. The money
transmitter makes a book entry to record the transaction on
the books of its offices in both countries and creates an ACH
entry to send the funds to the Receiver at his bank in the U.S.
What type of ACH transaction would be originated by the
money transmitter? ✓ ✓...... ANSWER ....... The resulting
ACH credit to the U.S. Receiver would be an IAT
Stan purchases a drill from the local hardware store using a
check. His check is returned as NSF. The hardware store has
a policy to collect NSF items using RCK. According to the
ACH Rules, the hardware store is required to: ✓ ✓......
ANSWER ....... Keep a copy of the front and back of the
check for 7 years
, Page 2 of 29
The Acquirer in the Card Payments System is: ✓ ✓......
ANSWER ....... A financial institution that represents
Merchants in accepting POS transactions
The ACH Network is governed by all of the following except
✓ ✓...... ANSWER ....... Electronic Funds Transfer
Mandate
Which of the following is an example of a common ACH
credit application? ✓ ✓...... ANSWER ....... Shareholder
dividends
Willy Wreck has Insurance-R-Us automatically debit his
account at Nuttin' Left Bank every month for his car
insurance. Insurance-R-Us contracts with Creative
Payments to generate an ACH debit file each month.
Creative Payments then transmits the file to The Money
Bank, Insurance-R-Us' financial institution. Creative
Payments would be a(n): ✓ ✓...... ANSWER ....... Third-
Party Service Provider
, Page 3 of 29
Direct Payment via ACH can be all except: ✓ ✓......
ANSWER ....... Used to send a payment to a mortgage
account
You logged into your financial institution's online banking
website and authorized a one-time payment to your credit
card company. Which SEC code would accompany your
payment? ✓ ✓...... ANSWER ....... CIE
Which company would be the best candidate for Direct
Payment via ACH? ✓ ✓...... ANSWER ....... 9,999
addenda records with 80 characters of payment-related
information
A third-party processing ACH transactions on behalf of an
RDFI is referred to as a(n): ✓ ✓...... ANSWER .......
Receiving Point
ABC Company initiates a single payment to cover all charges
incurred on five invoices from XYZ Company. Which SEC
code ✓ ✓...... ANSWER ....... CTX
2026 AAP PRACTICE EXAM COMPLETE
CURRENT TESTING QUESTIONS AND
DETAILED CORRECT ANSWERS (VERIFIED)
GUARANTEED PASS/TOP-RATED A+.
AAP
A U.S.-domiciled money transmitter receives a payment
order from a foreign customer at one of its foreign branch
offices to send funds to a Receiver in the U.S. The money
transmitter makes a book entry to record the transaction on
the books of its offices in both countries and creates an ACH
entry to send the funds to the Receiver at his bank in the U.S.
What type of ACH transaction would be originated by the
money transmitter? ✓ ✓...... ANSWER ....... The resulting
ACH credit to the U.S. Receiver would be an IAT
Stan purchases a drill from the local hardware store using a
check. His check is returned as NSF. The hardware store has
a policy to collect NSF items using RCK. According to the
ACH Rules, the hardware store is required to: ✓ ✓......
ANSWER ....... Keep a copy of the front and back of the
check for 7 years
, Page 2 of 29
The Acquirer in the Card Payments System is: ✓ ✓......
ANSWER ....... A financial institution that represents
Merchants in accepting POS transactions
The ACH Network is governed by all of the following except
✓ ✓...... ANSWER ....... Electronic Funds Transfer
Mandate
Which of the following is an example of a common ACH
credit application? ✓ ✓...... ANSWER ....... Shareholder
dividends
Willy Wreck has Insurance-R-Us automatically debit his
account at Nuttin' Left Bank every month for his car
insurance. Insurance-R-Us contracts with Creative
Payments to generate an ACH debit file each month.
Creative Payments then transmits the file to The Money
Bank, Insurance-R-Us' financial institution. Creative
Payments would be a(n): ✓ ✓...... ANSWER ....... Third-
Party Service Provider
, Page 3 of 29
Direct Payment via ACH can be all except: ✓ ✓......
ANSWER ....... Used to send a payment to a mortgage
account
You logged into your financial institution's online banking
website and authorized a one-time payment to your credit
card company. Which SEC code would accompany your
payment? ✓ ✓...... ANSWER ....... CIE
Which company would be the best candidate for Direct
Payment via ACH? ✓ ✓...... ANSWER ....... 9,999
addenda records with 80 characters of payment-related
information
A third-party processing ACH transactions on behalf of an
RDFI is referred to as a(n): ✓ ✓...... ANSWER .......
Receiving Point
ABC Company initiates a single payment to cover all charges
incurred on five invoices from XYZ Company. Which SEC
code ✓ ✓...... ANSWER ....... CTX
