Accredited ACH Professional (AAP) Practice Exam

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Prepare for the Accredited ACH Professional (AAP) Exam with tailored questions and study materials to enhance your understanding of ACH transactions and operations. Test your skills and readiness for this important certification!

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How long must an Originator wait to send a live entry following the Settlement Date of a prenote?

3 Banking Days
5 Banking Days
6 Banking Days
10 Banking Days

The correct answer is: 6 Banking Days

The correct answer is based on the rules governing the use of prenotifications in the ACH (Automated Clearing House) network. A prenote is a zero-dollar transaction that is used as a test to verify the accuracy of account information before actual funds are transferred. After a prenote is sent, the Originator must allow a specific amount of time to ensure that the receiving financial institution processes the prenote and verifies that the account information is correct. According to NACHA (National Automated Clearing House Association) rules, the Originator must wait a minimum of six banking days following the Settlement Date of the prenote before sending a live entry. This timeframe is designed to provide the receiving bank ample opportunity to process the prenote and respond accordingly, ensuring that any issues can be addressed prior to processing actual transactions. This requirement is essential for maintaining the integrity of the ACH system and helps reduce the likelihood of errors in payment processing, thereby protecting the interests of all parties involved in the transaction.