APRP STUDY GUIDE 2026 COMPREHENSIVE
QUESTION ANSWER DIGEST
◉ 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.
QUESTION ANSWER DIGEST
◉ 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.
