achieving your ncp - eccho achieving your ncp exam contents stud… · national check payments...

National Check Payments Certification

Achieving Your NCP: Exam content, study aids, study tips

and test taking tips

2016 NCP Exam Window: April 16 – May 7

Copyright© 2015 by the Electronic Check Clearing House Organization

Disclaimer

The following slides are intended to assist NCP test takers in developing a plan for study. Many of the tips are suggestions from previous NCP test takers. These

recommendations are not a guarantee to passing the NCP exam. Test takers must study and know materials

well enough to apply them to complex situations.

2 National Check Payments Certification

Preface

• ECCHO wants you to succeed in achieving your NCP certification

• The exam is difficult and cannot be passed without study

• ECCHO provides study aids with registration

• Our NCP Partners provide webinar training programs

• This presentation provides some tips on studying for the exam


Background of NCP

• Why NCP? –So many changes in last few years –So much to know –Security of the payment system –Customers deserve the best

• Partners brought the idea to ECCHO

• Pilot in November 2011

• Fifth test window just wrapping up

• More than 500 NCPs!

4

Value of NCP – Knowledge is Power

• It’s good for the payments industry –Security and accuracy

• It’s good for your organization

–Reduced risk—tangible examples reported –Respected by auditors –Appreciated by customers

• It’s good for you

–Be recognized for your expertise –Be knowledgeable—getting learning opportunity –Advance your career

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NCP Exam Content

NCP Exam

• 120 questions, multiple choice (4 choices)

• 20 Pilot questions – Not scored—used for future question development – Not determined until Editorial Board meets after

exam is over

• Many scenario-based questions – Must apply your knowledge to a situation

• Many fact-based questions

– Must know the definition, purpose, meaning or operation

• 3 hours to take the exam 7

NCP References Regulation CC (Reg CC) - Availability of Funds and Collection of Check Uniform Commercial Code (UCC) Article 3 Uniform Commercial Code (UCC) Article 4 Universal Companion Document - UCD Federal Reserve Operating Circular ECCHOTM Rules FFIEC - Supervisory Guidance for Remote Deposit Capture FFIEC: Authentication in an Internet Banking Environment FFIEC: Supplement to Authentication in an Internet Banking Environment FFIEC: Information Security FFIEC: Retail Payment Systems FinCEN Advisory–FIN-2012-A010 Regulation E (Reg E) - Electronic Fund Transfers Regulation J (Reg J) - Collection of Checks and Other Items by Federal Reserve Treasury Securities & Programs Bank Secrecy Act/Anti-Money Laundering (BSA/AML)

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NCP Exam Content Blueprint

34% - Rules, Laws, and Regulations Demonstrate working knowledge of Reg CC, Reg J, UCC Articles 3 & 4, ECCHO Rules, Fed OC3 and sections of NACHA Rules and Regulation E. Eligible items MICR line repair Warranties Indemnifications Error resolution, returns, adjustments Imperfect/Non-imageable items Indorsements Presentment Representment Disclosures Funds availability Bank settlement & finality

9


33% - Check Operations Demonstrate a comprehensive understanding of all aspects of check operations and key standards. Item processing File control Exception handling Retention, retrieval, and destruction Account Statements Check conversion ANSI Standards

10


25% - Fraud and Risk Mitigation Demonstrate knowledge required to identify fraud and mitigate risk associated with check products and services and to comply with the regulatory requirements, including the UCC Articles 3 and 4, BSA/AML, and FFIEC guidance. Key provisions of laws, regulations and guidance Definitions of types of fraud and risk Allocation of risk Consumer, bank, and commercial agreements Risks associated with RDC and RCCs Risk mitigation techniques Data security and data breach Business continuity/disaster recovery

11


8% - Products Demonstrate a basic knowledge of the types, benefits, and purpose of correspondent, commercial and consumer products.

Types of checks Check conversion Account reconciliation products Positive Pay Controlled disbursement Lockbox Image cash letter Remote deposit capture Float Statements Image retrieval Online and mobile banking

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ECCHO Study Materials

ECCHO Preparation Materials

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Welcome! Thank you for registering for the 2014 National Check Payments Certification exam. We are so glad you recognize the value of this program and we wish you much success. Below is a brief overview of what you need to know.

Test Window: Saturday, April 19th – Saturday May 10th

What/how to Study Focus group feedback recommends the following:

Critical Study the attached NCP Roadmap to Success

Important/Know P.R.E.P. Guide, Study Steps and more!

Review Exam Blueprint and study higher percentage sections

See NCPC Recommended Training Sessions Take Training by an NCP Partner Assemble a study group, training partner

and/or flash cards Focus on areas of the test least familiar to

you Consider taking a day off the day before

exam to study!

What's Next?

1. Question of the Day emails initiate Jan 6

th every workday.

If you registered after Jan 6th

,

each Friday's question will have a l ink to prior QoD's so you don't miss a thing!

2. You need to set an exam date

with an exam center. You will receive an ID# and details from ECCHO by 3/15 and should register with PSI ASAP

to secure a seat! 3. Take the Test! (You can do it!) 4. Exam results go out in June

Extra

Exam Info & Policies

Continuing Certification

Contact us at

[email protected] or 214-273-3200 with

any questions

Test Registration “WELCOME”

Email from

NCP Connection

Email address

ECCHO Preparation Materials

• NCP Roadmap • JumpStart Reading Program • P.R.E.P. Guide • Question of the Day emails • NCP Guide handbook and program • ECCHO website www.eccho.org/ncpc

During early-registration promotion: (prior to Dec 15th)

• 3 Pre-recorded webinars: Check Fundamentals, Reg CC, and UCC


http://www.eccho.org/ncpc

NCP Roadmap

• Complete guide to assist you in developing a comprehensive study plan –Page 2 shows high level timeline –Page 3-4 covers the steps in the process for

your test taking Exam decision and registration Selecting exam preparation training, etc.

–Page 6-7 provides guidance on what level to study the materials Level to study regulations vs. operations subjects

for example


NCP Roadmap

• Read to begin your test taking journey –Will ensure you are covering all the necessary

steps in the process –Will help you get organized and to succeed

• Use the final two pages as a checklist for creating/personalizing your own study plan


NCP JumpStart Reading Program

• Path with links to NCP resources • Suggests quick overview of the materials • Good way to start studying • Should be started early—perhaps in

summer • Keep JumpStart on your desktop so that you

will always have access to resources


P.R.E.P. Guide Content

• P.R.E.P. Guide –Payments Resource and Exam Prep –Primarily designed as a training guide

• Includes: –Program Logistics –Training Section with Quiz Questions –Study Tips –Exhibits including Sample Multiple Choice Exam

• Intentionally repetitive –Designed to reinforce information Not written as a text book


P.R.E.P. Guide Test Taker Tips

• Read from cover to cover –More than once may be helpful to reinforce

key information

• Use as database to centralize notes

• Use notes pages to create checklist to ensure all materials have been covered


Question of the Day

• Emailed each business day beginning in January

• Excellent daily tool for self-study –Keeps NCP front-of-mind

• Each subsequent email contains: – New question for today; and – Answer to yesterday’s question

• Open-ended style; often with additional information and references –Exam questions are in multiple choice format

• Questions consolidated weekly online –Link to Summary included with each Friday’s

question 21 National Check Payments Certification

Sample QoD Email

National Check Payments Certification

2014 Exam

Question of the Day

For additional training resources, including a summary of previous Question of the Day emails and the 2014 NCPC P.R.E.P. Guide, click here.

Yesterday’s answer: Question: What is the purpose of the Uniform Commercial Code?

Answer: As outlined in the first article of the Uniform Commercial Code, the purpose and policies of

the UCC are to:

Simplify, clarify, and modernize the law governing commercial transactions

Permit the continued expansion of commercial practices through custom, usage,

and agreement of the parties

Make uniform the law among the various jurisdictions.

The Uniform Commercial Code does not have legal effect in a State or US territory unless UCC provisions are enacted by the individual legislatures as statutes.

Articles 3 and 4 of the UCC apply directly to uniform check law and work in combination with Federal Reserve regulations and operating circulars.

These emails are sent to candidates registered for the 2014 NCPC Exam to become a National Check Professional (NCP) and are strictly as a study aide and do not contain the exact questions found on the NCPC Exam, nor is the format identical to the multiple-

choice format used on the test. The NCPC Question of the Day emails are intended to help you to familiarize yourself with the reference material used to create the NCPC Exam and important topics influencing the check industry today. Please contact

ECCHO at 214-273-3200 or [email protected] if you have received this email in error or have any questions.

Today’s Question:

What do the provisions of Article 3 and

Article 4 of the Uniform Commercial Code (UCC) cover?

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Question of the Day Tips

• Frequently cited as favorite study tool

–Look up answer to question today –Verify answer next day

• Print out as flashcards for self-study

• Use comprehensive online summary as searchable tool

• Use in study group to facilitate discussion


What is the Guide Program?

• Win-Win program that pairs NCP candidate with an NCP

• Intended as a study support system

• Candidate gets someone to talk to who has experienced NCP

• Guide gets continuing education credits 24 National Check Payments Certification

Core of the Guide Experience

Discussing: • Milestones / timeline of NCP program • Test center experience • Partner training experience • Lessons learned • Ways to remember things • Helping to establish a study plan • ECCHO study aids • Generally providing support and reminders


Other NCP Study Aids

• NCP exam prep training courses—taught by NCP Partners –All ECCHO produced materials –Generally 11 webinars –Sometimes bootcamps or other in-person

classes • EPCOR’s Check 101 Flash Cards • Other check classes from partners • Coming soon: NEACH’s Online NCP Sample Test • Coming soon: ECCHO pre-recorded library

26

NCP Exam Prep Training Course

11 Sessions plus review(s)—typically webinars: Check Fundamentals and Check Processing Regulations - Uniform Commercial Code Regulations - Regulation CC Standards and Formats Image Exchange: Rules and Agreements - Part I Image Exchange: Rules and Agreements - Part II Image Exchange: Processes Exceptions - Returns and Adjustments Check Products Fraud, Risk, and Risk Mitigation - Part I Fraud, Risk, and Risk Mitigation - Part II Exam Review Session(s)

27

NCP Training Partners

• EastPay • EPCOR • MACHA • NEACH • PaymentsFirst • Southern Financial Exchange • SWACHA • The Clearing House • The Payments Authority • UMACHA • WACHA • WesPay

28

Developing a Study Plan

Study Time

• Passing NCP exam takes study—even if you have 30 years of experience

• How much time? • Amount of time depends on you

–Expertise and tenure –Breadth of experience –Familiarity – Looking up versus knowing the

answer –Ability / comfort taking tests

• May need to study more/less than others • Start Early!!!


Study Suggestions: Training Class

• Sign up for exam prep training class –Don’t multi-task—be completely focused –Turn off emails and phones –Ask questions

• Read all suggested materials –Read PPTs before class –Highlight important points –Write down your questions –Re-write/restate important points/make

flashcards after class • Know the materials • Apply knowledge 31

Tips for Success – Study Ideas

• Listen to training webinar recordings—multiple times for less familiar sections

• Attend comprehensive review session(s) –All prep training classes should offer these

• Ask questions of: –Yourself Test how well you understand the materials

–NCP Training provider –ECCHO staff –Your study buddy and/or Your study group

• Make consistent time to study on your own


Tips For Success – Level of Study

• Use answers/discussion section in Question of the Day as a guide to level-set –Level of detail of answers is typically level of

detail to be expected on test

• Some material requires detail while other is strategic –Standards: Requires more detailed

understanding of record formats and UCD –Regulations: Requires knowledge of intent and

purpose 33 National Check Payments Certification

Tips For Success – Level of Study

• Ensure you know most important components of key regulations –UCC: Transfer and Presentment warranties –Reg CC: Availability, expeditious return

requirements, Subpart C • Ensure you know most important

components of key industry image exchange rules –Fed Operating Circular 3 (OC3) –ECCHO Rules


Tips for Success – Study Ideas

• Take materials with you and “steal” 15 min. of study time throughout day

• Get a study buddy and hold each other accountable

• Get into a study group to hash out key issues over a few sessions

• Get your legal team or other expert to provide insight to your study group


Sample Study Program • Complete NCP JumpStart and NCP RoadMap

–Determine what you know and don’t know

–Decide how much time you will have to study

–Allocate your study time to cover all the topics (NCP

Blueprint)

• Study P.R.E.P. Guide, Questions of the Day, other materials

• Make your own notebooks/flashcards

• Take an NCP Exam Prep Training course

• Form a study group or get an NCP Guide

• Ask experts at your organization to discuss topics or answer

questions

• Study materials until you know them without looking at

materials

• Be able to apply that knowledge to scenario questions


People Learn Differently

• Visual –Turn notes into pictures, charts, etc. –Develop and/or Use flash cards –Color code the new concepts you have learned –Learn the big picture first and then focus on the details –Avoid distractions –Print educational materials and make notebooks

• Auditory –Listen to the recordings of each exam prep training session –Read materials out loud and put them in your own words –Record your own lesson on smartphone and listen to it in the

car, etc. –Discuss materials in a study group


Resources – Summary • Familiarize yourself with P.R.E.P. Guide • Take an NCP exam prep training course

–Print out slides, take notes, no multi-tasking • Utilize Question of the Day and create flashcards • Complete an overview of all materials

–Focus on subjects you know least –Refresh on subjects you know best

• Keep in mind which blueprint category contains the most questions: –Rules/Regs(34%), Risk/Fraud (25%), Operations

(33%), Product (8%) Understand what knowledge areas are covered within

each of these four blueprint categories • Be ready to apply what you have learned


Test Taking Tips

Right Before the Exam

• Take a day off near exam time to focus on study • Get plenty of sleep the night before

• Exam Logistics: –Know how to get to exam location before the day

of the test –Get to exam site early Review flashcards one final time in the car

–Take 2 forms of identification One government-issued, such as drivers license Ensure name you registered with is same as this id!


PSI Test Center Rules

• Only take keys, glasses and identification into the exam –No food, drinks, heavy coats, sweaters, phone or

purse permitted –Have a plan for your personal items Most PSI sites do not have lockers

• Ensure Test Center Proctor offers you pencil and paper for use during the exam

• Take earplugs if you are sensitive to noise

• Enlist Test Center Proctor to solve any issues


Test Taking Tips

• PSI Examination Tutorial: https://candidate.psiexams.com/tutorial.jsp

• Use this link to familiarize yourself with the way that the computer will look and function during your exam

• Learn about the Mark key and think about how you will use it during the test


https://candidate.psiexams.com/tutorial.jsp

PSI Keyboard


Standardized Test Taking Tips

• Go through and answer what you can –Mark questions that require more thought for later Later questions could help trigger your memory

• Read all questions carefully –Ask yourself, “What is this really asking?”

• Don’t second guess yourself – It’s often best not to change answers

• Make sure you’ve answered all questions –Answer all 120 questions on exam even though

only 100 are scored


NCP Test Taking Tips

• NCP Exam tests your knowledge of check and your ability to apply it to business situations –Many questions are in form of scenarios or story

problems – applied knowledge –Sketch them out on paper provided –Eliminate multiple choice answers that can’t be

true; Work towards best answer • Pay attention to references in the question:

–For example: “According to Fed OC3…”; or “Under the ECCHO Rules…”; or “Based on the UCC…”; etc.


Tips for Re-Testers

• Why didn’t you pass the first time?

• How much time did you spend studying?

• What worked and what didn’t?

• Which areas need the most attention?

• Did you utilize formal training before?

• Discuss ways to succeed with an NCP Guide


Post Exam

• Make plans to celebrate your accomplishment of taking the exam

• Look forward to June for your results – Individual email results sent in form of Pass/Fail –Email includes results report with bar chart to

indicate level of performance Bar graph indicators for each of the four exam

categories: Rules/Regs, Risk/Fraud, Operations and Product

–New NCPs will be mailed formal certificates with lapel pin approx . 2 weeks after emailed results

• Good Luck on the Exam!


Thank You!

NOTICE This NCPC Program document contains copyrighted materials of its publisher.

These program training materials may not be reproduced or published, in whole or in part, without the express permission of ECCHO.

Electronic Check Clearing House Organization 3710 Rawlins Street; Suite 1075

Dallas, Texas 75219

www.eccho.org

http://www.eccho.org/

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