Accredited ACH Professional (AAP) Practice Exam 2025 - Free AAP Practice Questions and Study Guide

The correct answer identifies the check payment system as governed by the Expedited Funds Availability Act, UCC 3, and Reg CC. These regulations specifically address the availability of funds deposited through checks and establish standards for the prompt availability of those funds to consumers.

The Expedited Funds Availability Act is aimed at ensuring that funds from checks are made available to consumers in a timely manner after deposit, which is critical for maintaining consumer trust and the smooth functioning of payment systems. UCC 3 (Uniform Commercial Code Article 3) pertains to negotiable instruments, including checks, detailing their legal framework and the rights of parties involved in check transactions. Reg CC (Regulation CC) implements the provisions of the Expedited Funds Availability Act and governs the availability of deposited funds and the responsibilities of financial institutions regarding check processing.

This focus on checks is what makes the check payment system the correct response, while the other payment systems mentioned—ACH, card payments, and wire transfers—are governed by different regulations and do not primarily rely on the frameworks provided by the aforementioned laws.