{"id":111357,"date":"2023-08-03T06:58:38","date_gmt":"2023-08-03T06:58:38","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=111357"},"modified":"2023-08-03T06:58:42","modified_gmt":"2023-08-03T06:58:42","slug":"aprp-vocab-2023-2024-explained-complete-200-vocab-and-detailed-explanations-agrade","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/08\/03\/aprp-vocab-2023-2024-explained-complete-200-vocab-and-detailed-explanations-agrade\/","title":{"rendered":"APRP VOCAB 2023-2024 EXPLAINED COMPLETE 200 VOCAB AND DETAILED EXPLANATIONS |AGRADE"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li>APRP VOCAB 2023-2024 EXPLAINED COMPLETE 200 VOCAB<\/li>\n\n\n\n<li>AND DETAILED EXPLANATIONS |AGRADE<\/li>\n\n\n\n<li>Basel III Regulatory Capital &#8211; ANSWER- A comprehensive set of<\/li>\n\n\n\n<li>reform measures, developed by the Basel Committee on Banking<\/li>\n\n\n\n<li>Supervision (BCBS), to strengthen the regulation, supervision, and risk<\/li>\n\n\n\n<li>management of the banking sector, including both liquidity and capital<\/li>\n\n\n\n<li>reforms.<\/li>\n\n\n\n<li>Business Continuity Planning (BCP) &#8211; ANSWER- Develop, implement,<\/li>\n\n\n\n<li>and test appropriate disaster recovery, in order to maintain acceptable<\/li>\n\n\n\n<li>retail payment-related customer service levels<\/li>\n\n\n\n<li>Business Impact Analysis (BIA) &#8211; ANSWER- A flow analysis that<\/li>\n\n\n\n<li>involves an assessment and prioritization of those business functions and<\/li>\n\n\n\n<li>processes that must be recovered. should also consider the impact of<\/li>\n\n\n\n<li>legal and regulatory requirements. should also estimate the maximum<\/li>\n\n\n\n<li>allowable downtime for critical business functions and processes and the<\/li>\n\n\n\n<li>acceptable level of losses (data, operations, financial, reputation, and<\/li>\n\n\n\n<li>market share) associated with this estimated downtime<\/li>\n\n\n\n<li>Biometrics &#8211; ANSWER- Methods include voice scanning and iris and<\/li>\n\n\n\n<li>retinal imagingfinger scan linked to his or her personal identification<\/li>\n\n\n\n<li>information.<\/li>\n\n\n\n<li>Capital adequacy &#8211; ANSWER- Refers to the amount of capital a<\/li>\n\n\n\n<li>financial institution has to hold as required by its regulator<\/li>\n\n\n\n<li>Card Products &#8211; ANSWER- Credit cards, Debit cards and Prepaid cards<\/li>\n\n\n\n<li>CDD &#8211; ANSWER- Customer Due Diligence<\/li>\n\n\n\n<li>Consumer Financial Protection Bureau (CFPB) &#8211; ANSWER- Rulemaking authority and, with respect to entities within its jurisdiction,<\/li>\n\n\n\n<li>enforcement authority to prevent unfair, deceptive, or abusive acts or<\/li>\n\n\n\n<li>practices in connection with any transaction with a consumer for a<\/li>\n\n\n\n<li>consumer financial product or service, or the offering of a consumer<\/li>\n\n\n\n<li>financial product or service<\/li>\n\n\n\n<li>Challenge Questions &#8211; ANSWER- Used as a backup in the event that<\/li>\n\n\n\n<li>primary logon authentication technique becomes inoperable or presents<\/li>\n\n\n\n<li>an unexpected characteristic. Can include &#8220;out-of-wallet&#8217; questions,<\/li>\n\n\n\n<li>which are questions that a user only knows and a fraudster cannot obtain<\/li>\n\n\n\n<li>just with stolen identity.<\/li>\n\n\n\n<li>Change Control Policy &#8211; ANSWER- Addresses potential changes to the<\/li>\n\n\n\n<li>operating environment<\/li>\n\n\n\n<li>Charge-backs &#8211; ANSWER- A demand by a credit-card provider for a<\/li>\n\n\n\n<li>retailer to make good the loss on a fraudulent or disputed transaction<\/li>\n\n\n\n<li>Check\/Remote Deposit Capture (RDC) Policy &#8211; ANSWER- Sets forth<\/li>\n\n\n\n<li>policies and procedures adopted by the FI in regards to risks associated<\/li>\n\n\n\n<li>with its offering of RDC services to its accountholders<\/li>\n\n\n\n<li>CIP &#8211; ANSWER- Customer Identification Program<\/li>\n\n\n\n<li>Closed Loop Network &#8211; ANSWER- Provides payment services directly<\/li>\n\n\n\n<li>to merchants and cardholders by the owner of the network without<\/li>\n\n\n\n<li>involving financial institutions as intermediaries. American Express and<\/li>\n\n\n\n<li>Discover are two examples.<\/li>\n\n\n\n<li>Compliance Risk &#8211; ANSWER- Party to a transaction fails to comply,<\/li>\n\n\n\n<li>either knowingly or inadvertently with payment system rules and<\/li>\n\n\n\n<li>policies, regulations and applicable U.S. and state law<\/li>\n\n\n\n<li>Compliance risk management &#8211; ANSWER- Be aware of all payment<\/li>\n\n\n\n<li>system rules, policies, regulations and applicable U.S. and state law<\/li>\n\n\n\n<li>Contactless cards &#8211; ANSWER- Have an embedded computer chip with<\/li>\n\n\n\n<li>financial and personal information used for payment transactions, and<\/li>\n\n\n\n<li>they employ RFID technology for payment transmission. They include a<\/li>\n\n\n\n<li>microcontroller (or equivalent intelligence) and internal memory and<\/li>\n\n\n\n<li>have the ability to secure, store, and provide access to data on the card.<\/li>\n\n\n\n<li>Control Activities &#8211; ANSWER- Include the policies &amp; procedures<\/li>\n\n\n\n<li>institutions establish to manage risks and ensure predefined control<\/li>\n\n\n\n<li>objectives are met. Should cover all key areas of an organization and<\/li>\n\n\n\n<li>address items such as organizational structures, committee compositions<\/li>\n\n\n\n<li>and authority levels, officer approval levels, access controls (physical<\/li>\n\n\n\n<li>and electronic), audit programs, monitoring procedures, remedial<\/li>\n\n\n\n<li>actions, and reporting mechanisms.<\/li>\n\n\n\n<li>Control Environment &#8211; ANSWER- Begins with a bank&#8217;s BOD &amp; senior<\/li>\n\n\n\n<li>management, who are responsible for developing effective internal<\/li>\n\n\n\n<li>control systems and ensuring all personnel understand and respect the<\/li>\n\n\n\n<li>importance of internal controls. Control systems should be designed to<\/li>\n\n\n\n<li>provide reasonable assurance that appropriately implemented internal<\/li>\n\n\n\n<li>controls will prevent or detect: Materially inaccurate, incomplete, or<\/li>\n\n\n\n<li>unauthorized transactions; Deficiencies in the safeguarding of assets;<\/li>\n\n\n\n<li>Unreliable financial and regulatory reporting; Deviations from laws,<\/li>\n\n\n\n<li>regulations, and internal policies<\/li>\n\n\n\n<li>COSO &#8211; ANSWER- Committee Of Sponsoring Organizations Of<\/li>\n\n\n\n<li>Treadway Commission<\/li>\n\n\n\n<li>Credit Analysis Techniques &#8211; ANSWER- &#8220;There are several techniques<\/li>\n\n\n\n<li>that can be used when performing credit analysis of a business or<\/li>\n\n\n\n<li>organization, including: Credit Policy; Risk Rating; Ongoing Monitoring<\/li>\n\n\n\n<li>and Review; Cross-Channel; Prohibited\/Restricted Businesses&#8221;<\/li>\n\n\n\n<li>Credit Policy &#8211; ANSWER- Establishing this policy is just one part of the<\/li>\n\n\n\n<li>credit analysis techniques used by financial institutions<\/li>\n\n\n\n<li>get pdf at ; https:\/\/learnexams.com\/search\/study?query=<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[],"tags":[],"class_list":["post-111357","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/111357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=111357"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/111357\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=111357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=111357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=111357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}