Web and Tel Exercises

Question 1

An Internet-Initiated/Mobile entry may be authorized for Single entry, Recurring entries, or __?__ entries.

Answer 1

Subsequent

Question 2

The Originator of a debit WEB entry is required to employ commercially reasonable risk management techniques including:

Answer 2

fraudulent transaction detection systems, verification of routing numbers, audits of website security and secure internet session.

Question 3

The Standard Entry Class Code WEB provides all participants with the ability to readily identify these Entries and address the unique __?__ issues inherent in Internet-Initiated/mobile payments.

Answer 3

Risk

Question 4

What 2 types of rules/regulations govern WEB & TEL entries?

Answer 4

NACHA Operating Rules and Regulation E

Question 5

Authorization for a debit WEB entry is ‘signed’ using the __?__ standards identified in the E-Sign Act.

Answer 5

Similarly authenticated

Question 6

The indicator ST in the __?__ of the Entry Detail Record identifies a Standing Authorization WEB entry.

Answer 6

Payment Type Code Field

Question 7

The ODFI is not required to establish specific __?__ for each of its Originators initiating a credit WEB entry.

Answer 7

Exposure Limits

Question 8

A Fraudulent Transaction Detection System is employed by the Originator to __?__ the Receiver.

Answer 8

Authenticate

Question 9

The Originator of a Single-entry TEL is required to __?__ the consumers oral authorization or provide written notice to the Receiver prior to settlement confirming the oral authorization.

Answer 9

Record

Question 10

The Originator of a TEL entry is required to verify the __?__ of the Receiver and that the __?__ provided by the receiver is valid.

Answer 10

identity & institution routing number