APRP APRP Industry Standards 2

Question 1

Which PCI DSS requirement specifically mandates that cardholder data must not be stored after authorization?

Accepted Answer

Requirement 3

Answer

PCI DSS Requirement 3 governs the protection of stored cardholder data, including prohibitions on storing sensitive authentication data after authorization.

Question 2

Under NACHA Operating Rules, what is the maximum dollar threshold per transaction for Same Day ACH entries?

Accepted Answer

$100,000

Answer

NACHA set the Same Day ACH per-transaction cap at $100,000, effective March 2020, to support higher-value business payments.

Question 3

The ISO 20022 messaging standard is primarily designed to improve which aspect of payments?

Accepted Answer

Rich data and interoperability across payment systems

Answer

ISO 20022 provides a universal financial messaging standard enabling richer data and greater interoperability across domestic and international payment systems.

Question 4

Which Regulation E provision requires financial institutions to investigate disputes and provisionally credit consumer accounts within a specific timeframe?

Accepted Answer

10 business days

Answer

Regulation E requires financial institutions to complete error resolution investigations within 10 business days, or provisionally credit the account while extending the investigation.

Question 5

What does the FFIEC define as a key element of layered security for online banking?

Accepted Answer

Anomaly detection and out-of-band transaction verification

Answer

FFIEC guidance identifies anomaly detection coupled with out-of-band verification for high-risk transactions as critical components of effective layered security.

APRP - Accredited Payments Risk Professional Practice Test

APRP - Accredited Payments Risk Professional Practice Test

APRP APRP Industry Standards 2