Certified Payroll Professional Practice Exam

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Prepare for the Certified Payroll Professional Exam with our comprehensive quiz. Featuring flashcards and multiple-choice questions tailored to key payroll concepts, our resources equip you for success in your certification journey.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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What is the role of NACHA in electronic payments?

Overseeing cash transactions only
Regulating credit card payments
Governing the ACH network
Regulating international wire transfers

The correct answer is: Governing the ACH network

NACHA, the National Automated Clearing House Association, plays a crucial role in electronic payments by governing the ACH network. The ACH (Automated Clearing House) network is a system that processes electronic credit and debit transfers, including Direct Deposit and Direct Payment. NACHA establishes and upholds the rules and regulations that financial institutions participating in the ACH network must adhere to, ensuring the smooth and secure transfer of funds between accounts. Option A is incorrect as NACHA's role extends beyond overseeing cash transactions, and option B is incorrect as NACHA's focus is not on regulating credit card payments. Option D is also incorrect as NACHA's jurisdiction is not international wire transfers, but specifically within the ACH network in the United States.