Airlines Reporting Corporation (ARC) Specialist Practice Exam

When entering a transaction into the IAR system, the timeframe for modifying that transaction is critical for accuracy and compliance with reporting standards. In this scenario, if a transaction is entered on a Thursday, the latest time you can modify it is Thursday at 11:59 PM Eastern Time, which is the end of the same day it was entered.

This timeframe is aligned with the procedures in place for IAR, allowing agents to make necessary edits before the transaction enters the final processing stages. Given that this transaction is not part of another transaction, it remains eligible for modification until the close of the same day it was entered. Modifying a transaction later than this timeframe would typically mean waiting until the designated window for processing corrections, which is generally not available after the day the entry was made.

Other options suggest various other deadlines for modifications, but they do not apply to transactions entered on Thursday; they either extend to the following days or reference periods that do not align with the specific conditions of the scenario presented. Thus, the selection indicates the strict cut-off time for edits to be made on the same day of the transaction entry.