AAP COMPREHENSIVE EXAM 2026 QUESTIONS AND
SOLUTIONS RATED A+
✔✔An RDFI must make funds associated with a non-Same Day ACH credit entry
available for cash withdrawal within what timeframe? - ✔✔No later than the end of the
Settlement Date
✔✔The term "similarly authenticated" permits authorizations to be signed electronically
according to the provisions of: - ✔✔Electronic Signatures in Global and National
Commerce Act (E-Sign Act)
✔✔Direct access is defined as: - ✔✔An Originator or a third party that transmits ACH
files directly to an ACH Operator using a financial institution's routing number and
settlement account.
✔✔If an ODFI receives a written notice from NACHA requesting specific information on
an Originator exceeding the unauthorized entry return rate, the - ✔✔10 banking days of
receipt of the request
✔✔The ODFI may dishonor a return from the RDFI within: - ✔✔5 banking days after the
Settlement Date of the return entry
✔✔Sally received a $400 ACH credit to her account on Friday. The following Friday,
she contacts her credit union to ask that they return the entry as it is not hers. Within
what timeframe must the RDFI return the credit? - ✔✔2 banking days from the RDFI's
receipt of notification by the Receiver
✔✔If an ODFI receives a contested dishonored return, what alternative do they have to
reclaim the money? - ✔✔They must request the money back outside of the ACH
Network
✔✔Which of the following is not an RDFI responsibility? - ✔✔Responding to an NOC in
a timely fashion
✔✔Within how many days after receiving notice of the Receiver's death must the
Originator initiate a reclamation or written demand for payment? - ✔✔5 banking days
✔✔An RDFI: - ✔✔C. May request that an ODFI provide a copy of the Receiver's
authorization for any entries
✔✔A DFI must conduct an ACH risk assessment based on: - ✔✔Its regulator's
requirements
✔✔The primary credit risk for an ODFI originating ACH debit entries is - ✔✔Returns
, ✔✔An RDFI receives a reclamation entry of $800 for a private ACH pension payment.
What is the RDFI liable for - ✔✔$800 or balance in account, whichever is less
✔✔Money Mule Bank receives an ACH credit that it suspects is fraudulent. What should
Money Mule Bank do? - ✔✔Post the credit entry, hold the funds until the next business
day and contact the ODFI
✔✔Which of these is not a responsibility of an ODFI? - ✔✔Edit file contents
✔✔Technical disruptions or human error are considered - ✔✔Operational risk
✔✔Which of the following statements is a responsibility of an Originator - ✔✔Originator
must provide written notification at least 7 calendar days prior to a scheduled payment if
the date of a recurring debit changes.
✔✔An unauthorized CCD debit is discovered on a company's statement. How long does
the RDFI have to return the CCD debit through the ACH Network? - ✔✔The return must
be made available to the ODFI by opening of business on the second banking day after
the Settlement Date of the entry
✔✔Which of these risks are greater for ODFIs than RDFIs? - ✔✔Fraud and credit
✔✔An ODFI transmitted an erroneous file. The reversing file must be originated so that
it is
made available to the RDFI within - ✔✔banking days after the settlement of the original
entry and within 24 hours of discovery
✔✔A Receiver contacts her RDFI on October 4 and claims a PPD entry appearing on
her
September 4 statement was never authorized. What action should the RDFI take first -
✔✔Have the Receiver complete a Written Statement of Unauthorized Debit
✔✔Which of the following information is an RDFI required to provide about a POP entry
on a
consumer's statement? - ✔✔Terminal city
✔✔A biller collecting a service fee for payments returned NSF provides the proper
notice at the
time a check item is accepted or entry is authorized. To identify the debit as a service
fee,
the biller must format the Company Entry Description field as follows: - ✔✔RETURN
FEE
SOLUTIONS RATED A+
✔✔An RDFI must make funds associated with a non-Same Day ACH credit entry
available for cash withdrawal within what timeframe? - ✔✔No later than the end of the
Settlement Date
✔✔The term "similarly authenticated" permits authorizations to be signed electronically
according to the provisions of: - ✔✔Electronic Signatures in Global and National
Commerce Act (E-Sign Act)
✔✔Direct access is defined as: - ✔✔An Originator or a third party that transmits ACH
files directly to an ACH Operator using a financial institution's routing number and
settlement account.
✔✔If an ODFI receives a written notice from NACHA requesting specific information on
an Originator exceeding the unauthorized entry return rate, the - ✔✔10 banking days of
receipt of the request
✔✔The ODFI may dishonor a return from the RDFI within: - ✔✔5 banking days after the
Settlement Date of the return entry
✔✔Sally received a $400 ACH credit to her account on Friday. The following Friday,
she contacts her credit union to ask that they return the entry as it is not hers. Within
what timeframe must the RDFI return the credit? - ✔✔2 banking days from the RDFI's
receipt of notification by the Receiver
✔✔If an ODFI receives a contested dishonored return, what alternative do they have to
reclaim the money? - ✔✔They must request the money back outside of the ACH
Network
✔✔Which of the following is not an RDFI responsibility? - ✔✔Responding to an NOC in
a timely fashion
✔✔Within how many days after receiving notice of the Receiver's death must the
Originator initiate a reclamation or written demand for payment? - ✔✔5 banking days
✔✔An RDFI: - ✔✔C. May request that an ODFI provide a copy of the Receiver's
authorization for any entries
✔✔A DFI must conduct an ACH risk assessment based on: - ✔✔Its regulator's
requirements
✔✔The primary credit risk for an ODFI originating ACH debit entries is - ✔✔Returns
, ✔✔An RDFI receives a reclamation entry of $800 for a private ACH pension payment.
What is the RDFI liable for - ✔✔$800 or balance in account, whichever is less
✔✔Money Mule Bank receives an ACH credit that it suspects is fraudulent. What should
Money Mule Bank do? - ✔✔Post the credit entry, hold the funds until the next business
day and contact the ODFI
✔✔Which of these is not a responsibility of an ODFI? - ✔✔Edit file contents
✔✔Technical disruptions or human error are considered - ✔✔Operational risk
✔✔Which of the following statements is a responsibility of an Originator - ✔✔Originator
must provide written notification at least 7 calendar days prior to a scheduled payment if
the date of a recurring debit changes.
✔✔An unauthorized CCD debit is discovered on a company's statement. How long does
the RDFI have to return the CCD debit through the ACH Network? - ✔✔The return must
be made available to the ODFI by opening of business on the second banking day after
the Settlement Date of the entry
✔✔Which of these risks are greater for ODFIs than RDFIs? - ✔✔Fraud and credit
✔✔An ODFI transmitted an erroneous file. The reversing file must be originated so that
it is
made available to the RDFI within - ✔✔banking days after the settlement of the original
entry and within 24 hours of discovery
✔✔A Receiver contacts her RDFI on October 4 and claims a PPD entry appearing on
her
September 4 statement was never authorized. What action should the RDFI take first -
✔✔Have the Receiver complete a Written Statement of Unauthorized Debit
✔✔Which of the following information is an RDFI required to provide about a POP entry
on a
consumer's statement? - ✔✔Terminal city
✔✔A biller collecting a service fee for payments returned NSF provides the proper
notice at the
time a check item is accepted or entry is authorized. To identify the debit as a service
fee,
the biller must format the Company Entry Description field as follows: - ✔✔RETURN
FEE
