Discuss AFP CTP Exam Topic 2 Question 23

Which of the following statements is true about lockbox network systems?

ALocal operating units receive funds over the counter and prepare deposits.

BA company processes and prepares its own deposits.

CA bank or third party receives, processes, and deposits currency primarily.

DConsolidated remittance data are generated from multiple collection points.

Suggested Answer: D

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22 comments · newest first

Maricela 2 days ago

Agreed! C makes sense. Less hassle for companies.

Joseph 7 days ago

I think C is the best choice. Banks handle it efficiently.

Domonique 12 days ago

C is definitely true. Third parties streamline the process.

Stacey 17 days ago

B seems off too. Companies usually don’t handle deposits directly.

Jennifer 23 days ago

I feel A is misleading. Over the counter isn’t typical for lockbox.

Adaline 28 days ago

I’m leaning towards D. Multiple points are key for data.

Dustin 1 month ago

Agreed! C makes sense. Less hassle for companies.

Tess 1 month ago

I think C is the best choice. Banks handle it efficiently.

Colby 1 month ago

Lockbox systems are all about efficiency in processing payments!

Ashlyn 2 months ago

Wait, are we sure about B? That seems a bit outdated.

Celia 2 months ago

A sounds off to me, local units usually don’t do that.

Shayne 2 months ago

I think D is also correct, right?

Pamella 2 months ago

C is definitely true, banks handle that stuff.

Mable 2 months ago

Totally agree with C, it’s all about efficiency!

Andra 2 months ago

Wait, are we sure about B? That seems unlikely.

Geraldo 3 months ago

A sounds off to me, local units don’t usually do that.

Augustine 3 months ago

I think D is also correct, right?

Tesha 3 months ago

C is definitely true, banks handle that stuff.

Shalon 3 months ago

I practiced a similar question, and I think option B is misleading because it suggests the company does everything, which isn't typical for lockbox systems.

Carmen 3 months ago

I feel like option D could be correct since it mentions consolidated data, which is important for tracking payments.

Aleta 4 months ago

I'm not entirely sure, but I remember something about local units handling deposits, which might relate to option A.

Veta 5 months ago

I think option C sounds familiar because we discussed how third parties can handle deposits in lockbox systems.

AFP CTP Exam - Topic 2 Question 23 Discussion