ETA CPP PRACTICE EXAM
QUESTIONS AND ANSWERS
A Merchant is processing under a retail account SIC/MCC code that was assigned
during the application underwriting process, but the merchant has since switched the
type of business and the method of transaction processing it provides to e-
commerce. Which of the following repercussions might the merchant incur if this
change is undocumented? - ANSWER-Greater interchange fees and higher
chargeback ratios
Which requirement must ALL merchants complete in order to be PCI-Complaint? -
ANSWER-Submit a self assessment questionnaire (SAQ)
Beginning with the card swipe, which of the following represents the basic movement
of a transaction authorization from a credit card terminal? - ANSWER-card reader
communication network
front end processor
card brand
issuer
card brand
front end processor
merchant
If a merchants activity varies greatly from information listed on the merchants
application, how does a risk department determine whether a fraud problem exist? -
ANSWER-BY contacting the merchant to query any change in products, services or
prices
Upon entering a merchants store, a payments professional notices signs at the
storefront as well as next to the register stating "we impose a surcharge of 5% on the
total amount on all credit card transactions, which is not greater than our cost of
acceptance. We do not surcharge debit cards.
Which of the following statement would be MOST appropriate for the payments
professional to make to the merchants regarding surcharges allowed by the card
brands? - ANSWER-Five percent is-more that the maximum surcharge amount
allowed is 4%
Which entity is responsible for a merchant payment system acceptance of card
network products? - ANSWER-member
A Payments Professional encounters merchants who have competitive pricing that
cannot be matched or beaten. What is the BEST course of action to make the
processor aware of the market competition? - ANSWER-obtain copies of merchant
processing statements of the competing written offer to share with the employee or
corporate office
QUESTIONS AND ANSWERS
A Merchant is processing under a retail account SIC/MCC code that was assigned
during the application underwriting process, but the merchant has since switched the
type of business and the method of transaction processing it provides to e-
commerce. Which of the following repercussions might the merchant incur if this
change is undocumented? - ANSWER-Greater interchange fees and higher
chargeback ratios
Which requirement must ALL merchants complete in order to be PCI-Complaint? -
ANSWER-Submit a self assessment questionnaire (SAQ)
Beginning with the card swipe, which of the following represents the basic movement
of a transaction authorization from a credit card terminal? - ANSWER-card reader
communication network
front end processor
card brand
issuer
card brand
front end processor
merchant
If a merchants activity varies greatly from information listed on the merchants
application, how does a risk department determine whether a fraud problem exist? -
ANSWER-BY contacting the merchant to query any change in products, services or
prices
Upon entering a merchants store, a payments professional notices signs at the
storefront as well as next to the register stating "we impose a surcharge of 5% on the
total amount on all credit card transactions, which is not greater than our cost of
acceptance. We do not surcharge debit cards.
Which of the following statement would be MOST appropriate for the payments
professional to make to the merchants regarding surcharges allowed by the card
brands? - ANSWER-Five percent is-more that the maximum surcharge amount
allowed is 4%
Which entity is responsible for a merchant payment system acceptance of card
network products? - ANSWER-member
A Payments Professional encounters merchants who have competitive pricing that
cannot be matched or beaten. What is the BEST course of action to make the
processor aware of the market competition? - ANSWER-obtain copies of merchant
processing statements of the competing written offer to share with the employee or
corporate office
