ETA CPP E EXAMS BUNDLE ESSENTIAL STUDY
QUESTIONS AND ANSWERS
◉ The return on investment of the product or service being sold to
the customer.
Answer: Which of the following is the BEST method of selling value
over price?
◉ A signed letter on letterhead, of acceptance from the owner.
Answer: Which of the following methods is NOT appropriate for
contract execution?
◉ Detailed technical knowledge.
Answer: Which of the following is NOT part of the ongoing sales
support function
◉ The acquiring bank.
Answer: In the United States, a merchant services contract is
between a merchant and which of the following?
◉ Item #, date and AVS info.
, Answer: What data elements are required for a merchant's
commercial card transaction to qualify for Level 1, Level 2 and Level
3 Interchange programs?
◉ Regulated debit card transactions from large issuing banks.
Answer: What types of transactions and which banks were regulated
by the Durbin amendment to the DoddFrank Wall Street Reform and
Consumer Protection Act?
◉ Swiped sales under $15.
Answer: What constitutes a small ticket transaction?
◉ Electronic transactions captured and settled within 2 days of
authorization.
Answer: What does EIRF stand for?
◉ 2.3% + $0.10.
Answer: What is the Interchange rate charged for transactions that
clear for EIRF?
◉ Total fees divided by total sales.
Answer: How is the merchant's effective rate calculated?
QUESTIONS AND ANSWERS
◉ The return on investment of the product or service being sold to
the customer.
Answer: Which of the following is the BEST method of selling value
over price?
◉ A signed letter on letterhead, of acceptance from the owner.
Answer: Which of the following methods is NOT appropriate for
contract execution?
◉ Detailed technical knowledge.
Answer: Which of the following is NOT part of the ongoing sales
support function
◉ The acquiring bank.
Answer: In the United States, a merchant services contract is
between a merchant and which of the following?
◉ Item #, date and AVS info.
, Answer: What data elements are required for a merchant's
commercial card transaction to qualify for Level 1, Level 2 and Level
3 Interchange programs?
◉ Regulated debit card transactions from large issuing banks.
Answer: What types of transactions and which banks were regulated
by the Durbin amendment to the DoddFrank Wall Street Reform and
Consumer Protection Act?
◉ Swiped sales under $15.
Answer: What constitutes a small ticket transaction?
◉ Electronic transactions captured and settled within 2 days of
authorization.
Answer: What does EIRF stand for?
◉ 2.3% + $0.10.
Answer: What is the Interchange rate charged for transactions that
clear for EIRF?
◉ Total fees divided by total sales.
Answer: How is the merchant's effective rate calculated?
