2025 ETA CPP TEST WITH 65 REAL EXAM
QUESTIONS AND CORRECT ANSWERS
Which of the following information typically would be found on a merchant's
monthly billing statement received from the merchant acquirer? - ANSWER ✔✔-
Discount rates
During the review of a leads list, what action should a payments professional take
FIRST to maximize lead approval potential? - ANSWER ✔✔- Ensure the leads
comply with the company's underwriting guidelines
A small business is unhappy with its current service provider's lack of transparency
in pricing, and the merchant is frustrated with the requirement to include Level III
enhanced data to obtain a qualified commercial card discount rate because the
burden of keying the additional data is cumbersome to staff. While the business
has an even mix of consumer and commercial cards, the merchant reveals that over
90% of the commercial card volume comes from a single client who utilizes a Visa
Business card. The merchant notes, however, that the business would like to take
on clients in the future with a comparable commercial card volume.
Based on the information shared by the merchant, which of the following
recommendations should the payments professional make to the merchant in order
to resolve current frustrations and keep the business positioned to accept future
clients - ANSWER ✔✔- Transition to an interactive voice response (IVR)
authorization and capture solution
Which of the following represents the BEST justification for using a payments
gateway? - ANSWER ✔✔- Provides a merchant with a single access point for
mobile and stationary devices
What should a payments professional collect from a merchant to submit with the
merchant application for a public corporation? - ANSWER ✔✔- Personal
guarantor signature
, Why is it important that all data points on the application are accurate? - ANSWER
✔✔- To ensure compliance with federal regulations
When using the gross discount method, what are discount fees charged on? -
ANSWER ✔✔- All sales volume
A payments professional submits an application for a large e-commerce merchant,
but is declined due to pricing concerns. What could the payments professional have
done prior to submitting the application in order to better foresee the processor's
decision? - ANSWER ✔✔- Evaluate the risk versus reward tolerance ratio
acceptable to the processor
A prospective high-volume retail merchant with an average ticket of a $8.00
transaction pays a $0.20 transaction fee. What is the BEST interchange category
for this merchant? - ANSWER ✔✔- CPS small ticket credit
Which of the following groups of associations would be MOST helpful to consult
when trying to identify and cultivate new national business? - ANSWER ✔✔-
American Association of Franchisees and dealers (AAFD), National Small
Business Association, National Retail Federation (NRF) and e-commerce
Merchants Trade Association (ECMTA)
Which peripheral device reads magnetic ink character recognition (MICR)
information on checks? - ANSWER ✔✔- Check imager
Which of the following groupings MOST closely constitutes the "payment
channels" currently define within the electronic payments industry? - ANSWER
✔✔- Face-to-Face/card present, e-commerce, mail order/telephone order, and
mobile
QUESTIONS AND CORRECT ANSWERS
Which of the following information typically would be found on a merchant's
monthly billing statement received from the merchant acquirer? - ANSWER ✔✔-
Discount rates
During the review of a leads list, what action should a payments professional take
FIRST to maximize lead approval potential? - ANSWER ✔✔- Ensure the leads
comply with the company's underwriting guidelines
A small business is unhappy with its current service provider's lack of transparency
in pricing, and the merchant is frustrated with the requirement to include Level III
enhanced data to obtain a qualified commercial card discount rate because the
burden of keying the additional data is cumbersome to staff. While the business
has an even mix of consumer and commercial cards, the merchant reveals that over
90% of the commercial card volume comes from a single client who utilizes a Visa
Business card. The merchant notes, however, that the business would like to take
on clients in the future with a comparable commercial card volume.
Based on the information shared by the merchant, which of the following
recommendations should the payments professional make to the merchant in order
to resolve current frustrations and keep the business positioned to accept future
clients - ANSWER ✔✔- Transition to an interactive voice response (IVR)
authorization and capture solution
Which of the following represents the BEST justification for using a payments
gateway? - ANSWER ✔✔- Provides a merchant with a single access point for
mobile and stationary devices
What should a payments professional collect from a merchant to submit with the
merchant application for a public corporation? - ANSWER ✔✔- Personal
guarantor signature
, Why is it important that all data points on the application are accurate? - ANSWER
✔✔- To ensure compliance with federal regulations
When using the gross discount method, what are discount fees charged on? -
ANSWER ✔✔- All sales volume
A payments professional submits an application for a large e-commerce merchant,
but is declined due to pricing concerns. What could the payments professional have
done prior to submitting the application in order to better foresee the processor's
decision? - ANSWER ✔✔- Evaluate the risk versus reward tolerance ratio
acceptable to the processor
A prospective high-volume retail merchant with an average ticket of a $8.00
transaction pays a $0.20 transaction fee. What is the BEST interchange category
for this merchant? - ANSWER ✔✔- CPS small ticket credit
Which of the following groups of associations would be MOST helpful to consult
when trying to identify and cultivate new national business? - ANSWER ✔✔-
American Association of Franchisees and dealers (AAFD), National Small
Business Association, National Retail Federation (NRF) and e-commerce
Merchants Trade Association (ECMTA)
Which peripheral device reads magnetic ink character recognition (MICR)
information on checks? - ANSWER ✔✔- Check imager
Which of the following groupings MOST closely constitutes the "payment
channels" currently define within the electronic payments industry? - ANSWER
✔✔- Face-to-Face/card present, e-commerce, mail order/telephone order, and
mobile
