My app is approved on AppStore. In the iAd section of the screen, it keeps showing the black "Testing Advertisement" by Apple instead of a real ad. Is there any configuration I missed? Thanks
Did you do everything here? Also, did you test your application on a different device to see if the ad shows up there correctly?
From the section in the iAd Programming Guide on Testing Banner Advertisements:
iAd Network automatically displays the correct ad depending on the application binary:
Application | Audience | Displayed Ads
Developer build | Developer | iAd Network serves test ads.
Ad-hoc distribution build | Beta Testers | iAd Network serves test ads.
Signed Distribution build | End Users | iAd Network serves live ads if you signed the iAd Network Agreement and enabled advertising for your application.
Therefore, your development and ad hoc builds will only display test advertisements. Only the distribution build that is submitted to the App Store will display real ads. Unfortunately, that means that you'll need to wait and download your own application from the store to see real ads in action in your application.
iAd is a very big disappointment. Ads are shown only in certain geographical regions, in other areas system returns nothing after the request (you can check the statistics for your iAd profile in the iTunes Connect). So you won't see anything in the banner in Hong Kong, as I cannot see anything in Korea for the moment. If you want to make money on advertising consider using other ad provider, like admob.