Certified Payroll Professional Practice Exam

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Prepare for the Certified Payroll Professional Exam with comprehensive flashcards and multiple choice questions. Each question is accompanied by detailed hints and explanations to aid your understanding. Get ready to ace your Certified Payroll Professional Exam!

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When must a direct deposit reversal be initiated after a common error is detected?

Within 3 days
Within 7 days
Within 10 days
Within 5 days

The correct answer is: Within 5 days

A direct deposit reversal must be initiated within 5 days after a common error is detected. This timeframe is crucial to ensure that any incorrect direct deposits are promptly addressed and resolved for both the employer and the employee. Initiating the reversal within 5 days helps maintain accuracy in payroll processing and ensures that any errors are quickly rectified without causing significant delays or complications. The other options are incorrect as they do not align with the standard timeframe required for initiating a direct deposit reversal after a common error is identified.