6 Questions
What are some examples of wilful bypass of IMPS process validations?
Examples include manually editing the pay-out files, such as changing the amount or account number, or sorting the files manually.
What should be done when there is a name mismatch between the MF RTA database and IMPS returns feed data?
When the name mismatch falls below a 40% matching level, the non-conversion to cheque mode should be considered.
What is the purpose of the IMPS process validations?
The IMPS process validations are in place to ensure the accuracy and integrity of the transactions being processed.
Match the following actions with their descriptions in the context of IMPS process:
Wilful bypass of IMPS process Validations = Deliberately ignoring or circumventing the checks in the IMPS process Pay-out files with manual edits = Modifying the pay-out files manually, such as changing the amount or account number Non conversion to cheque mode = Not switching to cheque mode when the name mismatch between MF RTA database and IMPS returns feed data is below 40% matching level
Match the following terms with their corresponding actions in the IMPS process:
IMPS process Validations = Checks and verifications performed in the IMPS process Pay-out files = Files containing payment information Cheque mode = A mode of payment when there is a name mismatch between MF RTA database and IMPS returns feed data
Match the following scenarios with their correct responses in the IMPS process:
Name mismatch between MF RTA database and IMPS returns feed data is above 40% matching level = Proceed with the IMPS process Manual edits of Amount / Account number or sorting in pay-out files = Not following the standard process Non conversion to cheque mode when name mismatch is below 40% matching level = Not following the standard process
Test your knowledge on IMPS process validations, pay-out file manual edits, and cheque conversion in this quiz. Learn about the wilful bypass of validations, manual preparation of pay-out files, and the importance of matching data in MF RTA database and IMPS returns feed. Challenge yourself and see how well you understand these concepts.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
