APRP TESTS COMPILATION BUNDLE
CERTIFICATION EVALUATION EXAMS 2026
UPDATED QUESTIONS WITH ANSWERS
GRADED A+
⩥ Credit card. Answer: A card indicating the holder has been granted a
line of credit to make purchases or withdraw cash up to a prearranged
ceiling.
⩥ Debit card. Answer: A payment card issued to a person for purchasing
goods and services through an electronic transfer of funds from a
demand deposit account (DDA) rather than using cash, checks drafts at
the point of sale.
⩥ Credit entry. Answer: An entry to the record of an account that
represents the transfer or placement of funds into the account.
⩥ Debit entry. Answer: An entry to the record of an account that
represents the transfer or removal of funds from the account.
⩥ Electronically Created Item (ECI). Answer: A check that never
appears in paper form.
,⩥ Remotely Created Check(RDC). Answer: Check created by a payee
based on the account holder's authorization that does not bear a
signature.
⩥ Remote Deposit Capture (RDC). Answer: Delivery system that
enables paper checks to be processed remotely.
⩥ Pay Before. Answer: Type of retail processing where a card payment
is made for goods or services with prepaid or stored-value cards,
⩥ Pay Now. Answer: Type of retail processing where a card payment is
expected when the goods or services are received; generally associated
with debit payments(debit cards)
⩥ Pay Later. Answer: Type of retail processing where a card payment is
expected after the goods or services have been received; typically refers
to credit payments(credit cards)
⩥ SWIFT. Answer: Global network messaging service supporting
correspondent banking and financial market utilities.
⩥ Financial Market Utilities(FMUs). Answer: Multilateral systems that
provide the infrastructure for transferring, clearing and settling
payments, securities and other financial transactions or between
financial institutions and the system.
, ⩥ Application Program Interface (API). Answer: A list of specifications,
standards or conventions that enable computer programs to exchange
information.
⩥ Payroll card account. Answer: A bank account established directly or
indirectly by an employer on behalf of an employee to which an
employees wages are electronically transferred to.
⩥ Beneficiary. Answer: Person or entity to be paid in a funds transfer.
⩥ Beneficiary's bank. Answer: Financial institution identified in a funds
transfer to be credited pursuant to the payment order.
⩥ Federal Reserve Bank. Answer: Entity that process and settles
Fedwire Funds
⩥ Originating/Sender Bank. Answer: Financial Institution that initiates a
funds transfer on behalf of the Originator.
⩥ Originator. Answer: Sender of the payment order in a funds or
securities transfer.
CERTIFICATION EVALUATION EXAMS 2026
UPDATED QUESTIONS WITH ANSWERS
GRADED A+
⩥ Credit card. Answer: A card indicating the holder has been granted a
line of credit to make purchases or withdraw cash up to a prearranged
ceiling.
⩥ Debit card. Answer: A payment card issued to a person for purchasing
goods and services through an electronic transfer of funds from a
demand deposit account (DDA) rather than using cash, checks drafts at
the point of sale.
⩥ Credit entry. Answer: An entry to the record of an account that
represents the transfer or placement of funds into the account.
⩥ Debit entry. Answer: An entry to the record of an account that
represents the transfer or removal of funds from the account.
⩥ Electronically Created Item (ECI). Answer: A check that never
appears in paper form.
,⩥ Remotely Created Check(RDC). Answer: Check created by a payee
based on the account holder's authorization that does not bear a
signature.
⩥ Remote Deposit Capture (RDC). Answer: Delivery system that
enables paper checks to be processed remotely.
⩥ Pay Before. Answer: Type of retail processing where a card payment
is made for goods or services with prepaid or stored-value cards,
⩥ Pay Now. Answer: Type of retail processing where a card payment is
expected when the goods or services are received; generally associated
with debit payments(debit cards)
⩥ Pay Later. Answer: Type of retail processing where a card payment is
expected after the goods or services have been received; typically refers
to credit payments(credit cards)
⩥ SWIFT. Answer: Global network messaging service supporting
correspondent banking and financial market utilities.
⩥ Financial Market Utilities(FMUs). Answer: Multilateral systems that
provide the infrastructure for transferring, clearing and settling
payments, securities and other financial transactions or between
financial institutions and the system.
, ⩥ Application Program Interface (API). Answer: A list of specifications,
standards or conventions that enable computer programs to exchange
information.
⩥ Payroll card account. Answer: A bank account established directly or
indirectly by an employer on behalf of an employee to which an
employees wages are electronically transferred to.
⩥ Beneficiary. Answer: Person or entity to be paid in a funds transfer.
⩥ Beneficiary's bank. Answer: Financial institution identified in a funds
transfer to be credited pursuant to the payment order.
⩥ Federal Reserve Bank. Answer: Entity that process and settles
Fedwire Funds
⩥ Originating/Sender Bank. Answer: Financial Institution that initiates a
funds transfer on behalf of the Originator.
⩥ Originator. Answer: Sender of the payment order in a funds or
securities transfer.
