APRP Payment Systems & Technology 2

Question 1

Which tokenization standard is used to replace sensitive Primary Account Numbers (PANs) in digital wallet transactions?

Accepted Answer

Network Token

Answer

Network tokens replace the PAN with a surrogate value specific to a device or merchant, reducing exposure of the real card number.

Question 2

In the ACH network, what is the maximum dollar threshold that distinguishes a Same-Day ACH entry from a standard ACH entry?

Accepted Answer

$1,000,000

Answer

As of March 2020, NACHA raised the Same-Day ACH per-transaction cap to $1,000,000.

Question 3

A merchant uses a hardware device that encrypts card data at the point of swipe before it reaches the POS software. This is best described as:

Accepted Answer

Point-to-point encryption (P2PE)

Answer

P2PE encrypts cardholder data from the point of interaction (POI) device, preventing clear-text PAN exposure within the merchant environment.

Question 4

Which RTP (Real-Time Payments) network attribute makes fraud recovery fundamentally more difficult than traditional ACH?

Accepted Answer

Immediate and irrevocable settlement

Answer

Because RTP funds are credited instantly and settlement is final, there is no recall window like ACH's two-day return period.

Question 5

Which ISO standard defines the message format most widely used in card payment authorization communications?

Accepted Answer

ISO 8583

Answer

ISO 8583 defines the data elements and message structure for financial transaction card-originated messages used in authorization, clearing, and settlement.

APRP - Accredited Payments Risk Professional Practice Test

APRP - Accredited Payments Risk Professional Practice Test

APRP Payment Systems & Technology 2