AAP EVALUATION EXAM 2026 QUESTIONS AND
SOLUTIONS RATED A+
Entry Detail Record - ✔✔The record contained within an ACH file that identifies the
Receiver (account number, name), amount of the transaction and the Tran Code
Trace Number - ✔✔A 15 digit code uniquely identifying each entry within a batch in an
ACH file. The first eight digits constitute the routing number (minus the check digit) of
the ODFI
Transaction Set - ✔✔The standards defining the procedural format and data content
requirements for specified business transactions ie purchase orders, invoices, shipping
notices, etc
Data Element - ✔✔The basic unit of information in EDI transaction sets containing a set
of values that represents a single piece of info such as single character codes, literal
descriptions or numeric values.
Mandatory Field - ✔✔A field that is necessary for ACH processing ensuring the proper
routing and/or posting of an ACH entry. The omission of this field will cause an ACH
Operator reject
Required field - ✔✔A field that will not cause and ACH entry to reject at the ACH
Operator, but may result in the return of the entry by the RDFI
Optional - ✔✔The addenda requirement that applies to ACK, ATX, CCD, PPD, CIE,
CTX and WEB
Mandatory - ✔✔The addenda requirement that applies to IAT, COR, Refused COR,
DNE, ENR, POS, SHR, MTE, all Returns and TRX
9,999 - ✔✔Maximum number of Addenda Records allowed for CTX, ENR, and TRX
7 - ✔✔Number of mandatory Addenda Records for IAT
Transaction Code (Tran Code) - ✔✔The two-digit code in the ACH record that
determines whether an entry is a debit or credit to a savings, demand deposit, or FI
general ledger account or a credit to a loan account. Also denotes whether the entry is a
prenote or live entry
Payment Type Code Field - ✔✔That field that contains an S or R indicating a WEB or
TEL transaction is either a single or recurring entry
,Check Serial Number - ✔✔The ACH Rules require the RDFI to provide this information
on the Receiver's periodic statement for ARC, BOC, XCK, RCK, and POP entries
Addenda Records - ✔✔Utilizes the ANSI X12 standards and NACHA-endorsed banking
conventions.
The ACH Rules and Reg E specify what periodic statement information the RDFI is
required to provide for POS entries - ✔✔1. Terminal ID 2. Terminal City 3. Terminal
State 4. Terminal Location
The ACH Rules and Reg E require the RDFI to provide these two pieces of the info
related to a POP entry on the consumer's periodic statement - ✔✔1. Terminal City 2.
Terminal State
Within 90 days fo occurrence of the violation - ✔✔The timeframe a report of possible
Rules violation must be submitted to NACHA by a complainant
Arbitration - ✔✔the settlement of disputes arising under the ACH Rules between
Participating Depository FI
Asterisk (*) - ✔✔The data element separator in the Addenda Record known as the
delimiter
Backslash (\) or Tilde (~) - ✔✔The segment indicator in the Addenda Record known as
the terminator
12 (7 mandatory; 5 optional) - ✔✔Maximum number of Addenda Records allowed for an
IAT transaction
The 3 ACH arbitration procedures and their dollar limits - ✔✔1. Procedure A = $250 or
less than $10M 2. Procedure B = $10M or less than $50M 3. Procedure C = $50M or
greater
Fedwire Funds and Security Services - ✔✔The two payment systems who's participants
include the originator, originator's depository institution, reserve banks, beneficiary's
depository institution and beneficiary.
The minimum dispute amount required before the arbitration procedure can be used -
✔✔$250.00
Optional Field - ✔✔A field that contains data at the discretion of the Originator or ODFI.
The inclusion or omission of the field will not affect processing.
The three Field Inclusion Requirements - ✔✔1.Mandatory 2. Required 3. Optional
, Name the ACH participants required to conduct an annual ACH audit - ✔✔1.
Participating DFI's (ODFI RDFI) 2. Third-Party Service Providers for Participating DFIs
3. Third-Party Senders
The minimum amount that ACH compensation claims must be in order to pursue action
- ✔✔$200.00
HCCLAIMPMT - ✔✔Contents of the Company Entry Description field for a Health Care
EFT Transaction
RECLAIM - ✔✔Contents of the Company Entry Description field for Reclamation entries
REDEPCHECK - ✔✔Contents of the Company Entry Description field for RCK entries.
REVERSAL - ✔✔Contents of the Company Entry Description field for reversing files
and entries.
AUTOENROLL - ✔✔Contents of the Company Entry Description Field for ENR entries
RETURNFEE - ✔✔Contents of the Company Entry Description field for Return Fee
entries
TPP - ✔✔Banking convention used in the Payment Related Info field of the Addenda
Record to convey third-party tax payment information to a state taxing agency
DED - ✔✔Banking convention used in the Payment Related Info field of the Addenda
Record to convey child support payment info
TXP - ✔✔Banking convention used in the Payment Related Info field of the Addenda
Record to convey a taxpayer's federal or state tax payment infor
The timeframe an arbitration claim must be submitted to NACHA by a complainant -
✔✔Within 2 years of the asserted violation
The standard used to identify county names within the IAT transactions - ✔✔ISO
Country Code as defined by the International Organization for Standardization (ISO)
3166-1-alpha-2 code list
RETRY PYMT - ✔✔Contents of the Company Entry Description field for Reinitiated
entries
SOLUTIONS RATED A+
Entry Detail Record - ✔✔The record contained within an ACH file that identifies the
Receiver (account number, name), amount of the transaction and the Tran Code
Trace Number - ✔✔A 15 digit code uniquely identifying each entry within a batch in an
ACH file. The first eight digits constitute the routing number (minus the check digit) of
the ODFI
Transaction Set - ✔✔The standards defining the procedural format and data content
requirements for specified business transactions ie purchase orders, invoices, shipping
notices, etc
Data Element - ✔✔The basic unit of information in EDI transaction sets containing a set
of values that represents a single piece of info such as single character codes, literal
descriptions or numeric values.
Mandatory Field - ✔✔A field that is necessary for ACH processing ensuring the proper
routing and/or posting of an ACH entry. The omission of this field will cause an ACH
Operator reject
Required field - ✔✔A field that will not cause and ACH entry to reject at the ACH
Operator, but may result in the return of the entry by the RDFI
Optional - ✔✔The addenda requirement that applies to ACK, ATX, CCD, PPD, CIE,
CTX and WEB
Mandatory - ✔✔The addenda requirement that applies to IAT, COR, Refused COR,
DNE, ENR, POS, SHR, MTE, all Returns and TRX
9,999 - ✔✔Maximum number of Addenda Records allowed for CTX, ENR, and TRX
7 - ✔✔Number of mandatory Addenda Records for IAT
Transaction Code (Tran Code) - ✔✔The two-digit code in the ACH record that
determines whether an entry is a debit or credit to a savings, demand deposit, or FI
general ledger account or a credit to a loan account. Also denotes whether the entry is a
prenote or live entry
Payment Type Code Field - ✔✔That field that contains an S or R indicating a WEB or
TEL transaction is either a single or recurring entry
,Check Serial Number - ✔✔The ACH Rules require the RDFI to provide this information
on the Receiver's periodic statement for ARC, BOC, XCK, RCK, and POP entries
Addenda Records - ✔✔Utilizes the ANSI X12 standards and NACHA-endorsed banking
conventions.
The ACH Rules and Reg E specify what periodic statement information the RDFI is
required to provide for POS entries - ✔✔1. Terminal ID 2. Terminal City 3. Terminal
State 4. Terminal Location
The ACH Rules and Reg E require the RDFI to provide these two pieces of the info
related to a POP entry on the consumer's periodic statement - ✔✔1. Terminal City 2.
Terminal State
Within 90 days fo occurrence of the violation - ✔✔The timeframe a report of possible
Rules violation must be submitted to NACHA by a complainant
Arbitration - ✔✔the settlement of disputes arising under the ACH Rules between
Participating Depository FI
Asterisk (*) - ✔✔The data element separator in the Addenda Record known as the
delimiter
Backslash (\) or Tilde (~) - ✔✔The segment indicator in the Addenda Record known as
the terminator
12 (7 mandatory; 5 optional) - ✔✔Maximum number of Addenda Records allowed for an
IAT transaction
The 3 ACH arbitration procedures and their dollar limits - ✔✔1. Procedure A = $250 or
less than $10M 2. Procedure B = $10M or less than $50M 3. Procedure C = $50M or
greater
Fedwire Funds and Security Services - ✔✔The two payment systems who's participants
include the originator, originator's depository institution, reserve banks, beneficiary's
depository institution and beneficiary.
The minimum dispute amount required before the arbitration procedure can be used -
✔✔$250.00
Optional Field - ✔✔A field that contains data at the discretion of the Originator or ODFI.
The inclusion or omission of the field will not affect processing.
The three Field Inclusion Requirements - ✔✔1.Mandatory 2. Required 3. Optional
, Name the ACH participants required to conduct an annual ACH audit - ✔✔1.
Participating DFI's (ODFI RDFI) 2. Third-Party Service Providers for Participating DFIs
3. Third-Party Senders
The minimum amount that ACH compensation claims must be in order to pursue action
- ✔✔$200.00
HCCLAIMPMT - ✔✔Contents of the Company Entry Description field for a Health Care
EFT Transaction
RECLAIM - ✔✔Contents of the Company Entry Description field for Reclamation entries
REDEPCHECK - ✔✔Contents of the Company Entry Description field for RCK entries.
REVERSAL - ✔✔Contents of the Company Entry Description field for reversing files
and entries.
AUTOENROLL - ✔✔Contents of the Company Entry Description Field for ENR entries
RETURNFEE - ✔✔Contents of the Company Entry Description field for Return Fee
entries
TPP - ✔✔Banking convention used in the Payment Related Info field of the Addenda
Record to convey third-party tax payment information to a state taxing agency
DED - ✔✔Banking convention used in the Payment Related Info field of the Addenda
Record to convey child support payment info
TXP - ✔✔Banking convention used in the Payment Related Info field of the Addenda
Record to convey a taxpayer's federal or state tax payment infor
The timeframe an arbitration claim must be submitted to NACHA by a complainant -
✔✔Within 2 years of the asserted violation
The standard used to identify county names within the IAT transactions - ✔✔ISO
Country Code as defined by the International Organization for Standardization (ISO)
3166-1-alpha-2 code list
RETRY PYMT - ✔✔Contents of the Company Entry Description field for Reinitiated
entries
