ETA CPP FINAL EXAM WITH VERIFIED
QUESTIONS AND ANSWERS|| ALREADY
GRADED A+ || GUARANTEED PASS || LATEST
UPDATE 2025
What controls the merchant name displayed on the card holder's statement? -
ANSWER-The merchant descriptor
Who is liable for resulting fraud if a merchant is not using EMV certified
equipment? - ANSWER-Merchant/Acquirer
Who is liable for resulting fraud if a merchant is EMV compliant but the
customer pays with a non-chip card? - ANSWER-Card Issuer
Who is liable for resulting fraud if a merchant is EMV compliant and the
customer pays with a chip-enabled card? - ANSWER-Card Issuer (with limited
liability)
Who is liable for resulting fraud if a merchant is not using EMV certified
equipment and the customer pays with a lost/stollen chip-enabled card? -
ANSWER-- Visa: issuer
- MC / AMEX: Merchant/Acquirer
Strategies to monitor for Risk - ANSWER-- audits
- assessments
- oversight
,What kind of account updates could trigger a risk assessment? - ANSWER--
MCC changes
- change in ownership
- significant change in financial metrics
what topics should be covered in technical merchant training? - ANSWER--
installation
- connectivity
- system functionality
- peripherals
- error scenarios
- integrations (if needed)
Key aspects of merchant support - ANSWER-- SLAs
- HW support
- SW support
- Account maintenance
- billing and funding
- merchant reference material
- relationship buildingWhen assessing a merchant for risk,
What is evaluated? - ANSWER-- financials
- products/services
- marketing/advertising policies
- future delivery (eCommerce)
- current processor
, Define Limited Liability - ANSWER-The legal liability of the situation has
limitations
Are banks responsible for the actions of their 3rd parties? - ANSWER-Yes - a
bank that contracts with an ISO must ensure the ISO performs all duties within
the boundaries of the card brands regulations as well as the various
governmental organizations
What is Financial Risk? - ANSWER-possibility of losing money on a business
venture or investment.
What is Reputational Risk? - ANSWER-possibility that an organization's
reputation will be damaged, which can lead to a decline in business.
What is Legal Risk? - ANSWER-potential for loss arising from any type of
legal issue.
Standard reporting timeframes - ANSWER-- monthly
- quarterly
- semi-annually
When assessing transaction data risk statistics, what are you looking for? -
ANSWER-- activity that deviates from the expected norm
- activity that violates established thresholds
- patterns of risky activity
Maximum ticket - ANSWER-defines the highest dollar amount expected for a
single transaction
Average ticket - ANSWER-defines the average dollar amount expected for
merchant transactions
QUESTIONS AND ANSWERS|| ALREADY
GRADED A+ || GUARANTEED PASS || LATEST
UPDATE 2025
What controls the merchant name displayed on the card holder's statement? -
ANSWER-The merchant descriptor
Who is liable for resulting fraud if a merchant is not using EMV certified
equipment? - ANSWER-Merchant/Acquirer
Who is liable for resulting fraud if a merchant is EMV compliant but the
customer pays with a non-chip card? - ANSWER-Card Issuer
Who is liable for resulting fraud if a merchant is EMV compliant and the
customer pays with a chip-enabled card? - ANSWER-Card Issuer (with limited
liability)
Who is liable for resulting fraud if a merchant is not using EMV certified
equipment and the customer pays with a lost/stollen chip-enabled card? -
ANSWER-- Visa: issuer
- MC / AMEX: Merchant/Acquirer
Strategies to monitor for Risk - ANSWER-- audits
- assessments
- oversight
,What kind of account updates could trigger a risk assessment? - ANSWER--
MCC changes
- change in ownership
- significant change in financial metrics
what topics should be covered in technical merchant training? - ANSWER--
installation
- connectivity
- system functionality
- peripherals
- error scenarios
- integrations (if needed)
Key aspects of merchant support - ANSWER-- SLAs
- HW support
- SW support
- Account maintenance
- billing and funding
- merchant reference material
- relationship buildingWhen assessing a merchant for risk,
What is evaluated? - ANSWER-- financials
- products/services
- marketing/advertising policies
- future delivery (eCommerce)
- current processor
, Define Limited Liability - ANSWER-The legal liability of the situation has
limitations
Are banks responsible for the actions of their 3rd parties? - ANSWER-Yes - a
bank that contracts with an ISO must ensure the ISO performs all duties within
the boundaries of the card brands regulations as well as the various
governmental organizations
What is Financial Risk? - ANSWER-possibility of losing money on a business
venture or investment.
What is Reputational Risk? - ANSWER-possibility that an organization's
reputation will be damaged, which can lead to a decline in business.
What is Legal Risk? - ANSWER-potential for loss arising from any type of
legal issue.
Standard reporting timeframes - ANSWER-- monthly
- quarterly
- semi-annually
When assessing transaction data risk statistics, what are you looking for? -
ANSWER-- activity that deviates from the expected norm
- activity that violates established thresholds
- patterns of risky activity
Maximum ticket - ANSWER-defines the highest dollar amount expected for a
single transaction
Average ticket - ANSWER-defines the average dollar amount expected for
merchant transactions
