ETA CPP Exam Study Guide Guaranteed A++ Latest Update 2023/2024

What data elements are MOST critical to the payments professional when comparing a merchant's current statement to the new offer proposed by the payment professional? - ANSWER Volume, average ticket, rate, and transaction fee Using the interchange plus model, which of the following costs can be adjusted during negotiations with the merchant? - ANSWER Acquirer markup For most credit card transactions, what is the MAXIMUM numbers of days between the sale and when a dispute request can be initiated? - ANSWER 120 days Which of the following merchants would be considered the highest risk? - ANSWER Time share advertising In a blended pricing method (three tiers, enhanced bill-back), merchant manually enters a VISA card transaction, but forgets to enter the AVS. What is the appropriate interchange category for this transaction? - ANSWER EIRF What information should be discussed at the time of sale in order to BEST establish a credible relationship between the payments professional and the merchant? - ANSWER Discount rates, transaction fees, and settlement fees MasterCard's Convenience Purchases interchange qualification applies to which of the following transactions? - ANSWER Payment for taxi services When proposing check processing services to be included in a merchant's existing terminal, what steps should be taken to ensure the ability to process transactions? - ANSWER Verify the terminal and check reader/imager compatibility with the processor A payments professional believes that a prospective client with a large customer base would benefit from the use of a PCI-compliant credit card storage module. However, prior to offering the solution, the payments professional needs to identify the merchant's key pain points and goals. As part of the discovery process, which of the following questions would BEST elicit the merchant's need to implement the solution? - ANSWER "Are you concerned about the security risks associated with storing customer data?" A payments professional meets with a merchant who discloses that it has a subprime credit. What additional materials may be required? - ANSWER Profit and loss statement. Previous processing statements and bank statements When submitting documents for a new or existing merchant, which of the following merchant types can be boarded for American Express Opt Blue? - ANSWER A restaurant that processes $900,000 in annual American Express charge volume How is the effective rate calculated? - ANSWER Total dollars spent divided by sales dollar volume A merchant has contacted the payments professional to inquire about an increase in the number of returned checks. How should the payments professional respond to the merchant's inquiry? - ANSWER Recommend a check guarantee service A merchant has a IP-facing device. Which action MUST be completed to ensure PCI compliance? - ANSWER Complete IP scanning quarterly and complete a SAQ annually Which of the following describes a valid reason for a merchant to be removed from the MATCH list? - ANSWER The merchant was erroneously placed on the MATCH list, or the listing is for reason code 12 During review of a potential e-commerce merchant's website, which of the following information MUST be present for approval of a merchants account? - ANSWER Terms and conditions, prices, and delivery policy A merchant does not accept credit card transactions for amounts under $20. What possible repercussions issued by the card brands could stem from this process? - ANSWER The merchant may be warned, fined, or terminated