Bank Code Bank Code Verification

Question 1

What mathematical formula is used to validate an ABA routing number?

Accepted Answer

3(d1+d4+d7) + 7(d2+d5+d8) + 1(d3+d6+d9) must be divisible by 10

Answer

The sum of all nine digits must equal 100

Answer

Each digit must be less than 5 and the total must be even

Answer

The product of alternate digits must equal the remaining digits

Question 2

How many digits make up a standard US ABA routing number?

Accepted Answer

9

Answer

7

Answer

8

Answer

10

Question 3

What is the primary purpose of the check digit in an ABA routing number?

Accepted Answer

To detect data-entry or transmission errors

Answer

To identify the bank's home state

Answer

To indicate the type of account associated with the bank

Answer

To encode the bank's Federal Reserve membership date

Question 4

What do the first four digits of an ABA routing number represent?

Accepted Answer

The Federal Reserve routing symbol

Answer

The bank's FDIC certificate number

Answer

The account holder's region code

Answer

The year the bank was chartered

Question 5

When a routing number fails ABA checksum validation, what should the receiving system do?

Accepted Answer

Reject or flag the transaction for manual review

Answer

Process the transaction with a warning logged

Answer

Automatically correct the routing number and proceed

Answer

Charge the sender a validation fee before processing

Question 6

Which digits in an ABA routing number identify the specific financial institution?

Accepted Answer

Digits 5–8

Answer

Digits 1–4

Answer

Digits 3–7

Answer

Digits 6–9

Question 7

Which organization is responsible for assigning and maintaining ABA routing numbers?

Accepted Answer

The American Bankers Association (ABA)

Answer

The Federal Deposit Insurance Corporation (FDIC)

Answer

The Office of the Comptroller of the Currency (OCC)

Answer

The Consumer Financial Protection Bureau (CFPB)