APRP TESTS COMPILATION BUNDLE TEST
BANK 2026 COMPLETE ANSWERS
ALREADY PASSED
⩥ Establishes net debit caps on the amount of Reserve Bank daylight
credit that a depository institution may use during a single day or over a
2 week reserve maintenance period. Answer: Payment System Risk
Policy
⩥ Requires a paying bank return a check such that it is received by the
BOFD by 2:00pm local time on the 2nd business day following the date
of presentment? Answer: Reg CC expeditious return
⩥ Enterprise Risk Management is (COSO) Answer: The culture,
capabilities, and practices that organizations integrate within their
strategy to manage risk and preserve and realize value
⩥ an effective BSA/AML/OFAC compliance program consists of...
Answer: Board approved written policies, procedures and processes to
prevent money laundering and terrorist financing
⩥ The amount of risk, on a broad level, an entity is willing to accept in
the pursuit of value Answer: Risk appetite
, ⩥ UCC: BOFD is liable for a warranty breach claim for forged/missing
endorsement for how long? Answer: 3 years from cash letter date
⩥ FFIEC: First step in business continuity process Answer:
Development of a Business Impact Analysis
⩥ Scope of required Physical and Information Security Procedures
depends on... Answer: Size and complexity of the institutions IT
operations and the variety of functions performed by IT operations.
⩥ IT and Security Policy should address... Answer: Key areas such as
personnel, capital investment, physical and logical security, change
management, strategic planning, business continuity
⩥ Technology Standards Answer: Internally developed to establish
measurable controls and requirements to achieve policy objectives.
⩥ "known" authentication Answer: PIN, password
⩥ "has" authentication Answer: fingerprint, biometric, ATM card
⩥ The exchange of check and check images between financial
institutions is governed by... Answer: agreement
BANK 2026 COMPLETE ANSWERS
ALREADY PASSED
⩥ Establishes net debit caps on the amount of Reserve Bank daylight
credit that a depository institution may use during a single day or over a
2 week reserve maintenance period. Answer: Payment System Risk
Policy
⩥ Requires a paying bank return a check such that it is received by the
BOFD by 2:00pm local time on the 2nd business day following the date
of presentment? Answer: Reg CC expeditious return
⩥ Enterprise Risk Management is (COSO) Answer: The culture,
capabilities, and practices that organizations integrate within their
strategy to manage risk and preserve and realize value
⩥ an effective BSA/AML/OFAC compliance program consists of...
Answer: Board approved written policies, procedures and processes to
prevent money laundering and terrorist financing
⩥ The amount of risk, on a broad level, an entity is willing to accept in
the pursuit of value Answer: Risk appetite
, ⩥ UCC: BOFD is liable for a warranty breach claim for forged/missing
endorsement for how long? Answer: 3 years from cash letter date
⩥ FFIEC: First step in business continuity process Answer:
Development of a Business Impact Analysis
⩥ Scope of required Physical and Information Security Procedures
depends on... Answer: Size and complexity of the institutions IT
operations and the variety of functions performed by IT operations.
⩥ IT and Security Policy should address... Answer: Key areas such as
personnel, capital investment, physical and logical security, change
management, strategic planning, business continuity
⩥ Technology Standards Answer: Internally developed to establish
measurable controls and requirements to achieve policy objectives.
⩥ "known" authentication Answer: PIN, password
⩥ "has" authentication Answer: fingerprint, biometric, ATM card
⩥ The exchange of check and check images between financial
institutions is governed by... Answer: agreement
