AAP SEC Codes and Entry Types 2

Question 1

The IAT SEC code is required when:

Accepted Answer

A payment transaction involves a financial agency outside the United States

Answer

IAT (International ACH Transaction) must be used whenever an ACH payment involves a financial agency outside the territorial jurisdiction of the United States.

Question 2

CTX entries differ from CCD entries primarily because CTX:

Accepted Answer

Supports up to 9,999 addenda records for corporate trade exchange data

Answer

CTX (Corporate Trade Exchange) supports up to 9,999 addenda records, allowing detailed remittance information to accompany business-to-business payments.

Question 3

BOC (Back Office Conversion) entries are created from:

Accepted Answer

Checks collected at the point of sale and converted during back-office processing

Answer

BOC is used when a source document (check) is collected at the point of sale but conversion to an ACH debit occurs later in back-office processing rather than at the register.

Question 4

RCK entries are used to re-present:

Accepted Answer

Returned consumer checks (NSF) as ACH debit entries

Answer

RCK (Re-presented Check Entry) allows Originators to re-present a check that was returned for insufficient or uncollected funds as an ACH debit entry.

Question 5

The MTE SEC code is used for:

Accepted Answer

Machine transfer entries (ATM transactions) processed through the ACH network

Answer

MTE (Machine Transfer Entry) is the SEC code for ATM transactions that are processed through the ACH network.

AAP - Accredited ACH Professional Practice Test

AAP - Accredited ACH Professional Practice Test

AAP SEC Codes and Entry Types 2