ETA CPP Exam Questions and Answers 2024, Exams of Nursing

Download ETA CPP Exam Questions and Answers 2024 and more Exams Nursing in PDF only on Docsity! ETA CPP Exam Questions and Answers 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 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?" 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 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 Upon entering a merchant's 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 statements would be MOST appropriate for the payments professional to make the merchant regarding surcharges allowed by the card brands? - ANSWER Five percent is more than the maximum surcharge amount allowed of 4% A merchant is complaining about complicated processing activity statements and asks for something "simpler" and "easier to understand." Which of the following solutions should the payments professional offer to BEST satisfy the merchant's request? - ANSWER Bundled Pricing If a merchant contacts the payments professional and inquire about any early termination fees (ETF), to what should the payments professional be alerted? - ANSWER The merchant may be thinking of closing their account Which of the following information typically would be found on a merchant's monthly billing these merchants? - ANSWER Ask the merchant what they like about their current providers and what they would change Which requirement must ALL merchants complete in order to be PCI-compliant? - ANSWER Submit a self-assessment questionnaire (SAQ) 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 or the competing written offer to share with the employer or corporate office What is the MAIN factor in determining which SAQ a merchant needs to complete for PCI compliance? - ANSWER Type of product/service offered by the merchant A merchant has an existing paper-based gift card program. Which of the following are the MOST important benefits of the merchant converting to an electronic gift card program? - ANSWER Reloadable, reward points, and branding A payments professional notices an extremely large number of EIRF transactions for a client who uses a POS for monthly recurring billing (monthly dues). What is the MOST likely causing this to happen? - ANSWER The merchant does not have the AVS feature turned on During the meeting with a potential merchant, the merchant mentions to the payments profession that, on occasion, credit cards are used to get cash out of the till. How should the payments professional proceed with the conversation? - ANSWER Inform the merchant that this action is a violation of the card brand terms and that the processor would have to act accordingly if they identified the activity Which entity is responsible for merchant payment system acceptance of card network products - ANSWER Agent 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 if the following repercussion might the merchant incur if this change is undocumented? - ANSWER Greater interchange fees and higher chargeback ratios Which of the following is defined by the term front-end? - ANSWER Authorization network What does a merchant service provider (MSP) offer? - ANSWER Transaction processing solutions to merchants AVS is recommended to be used on which of the following types of transactions? - ANSWER Online, recurring, and foreign transactions A merchant is looking for software that can help manage customer data, customer interaction, sales, marketing, affiliate tracking, and advertising campaigns. Which type of solution should a payments professional recommend? - ANSWER CRM system Which of the following is a requirement for a transaction to qualify as a CPS/E-Commerce Basic interchange? - ANSWER The transaction date must be within sevens days of the authorization date What is the allowed percentage of variance between an authorized amount and a settled amount for hospitality merchants? - ANSWER 20% Whose website provides the most relevant and reliable information for research about the information that is required to be displayed on a transaction receipt? - ANSWER The issuing bank's How should a payments professional react if a potential merchant does not want to provide information required on the W-9 form? - ANSWER Explain the 1099K IRS regulations that require acquirers and payment entities to report gross sales Upon analyzing a potential merchant's current processing statement, the payments professional discovered that the majority of transaction are in a non-qualified tier due to a large number of business-rate cards. The payments professional should contact the merchant and offer which of the following? - ANSWER A billing plan that does not place business-rate cards in the non-qualified tier How should a merchant react if a check that is over the approved check amount needs to be accepted? - ANSWER Contact the check processor/merchant processor, and provide information about the transaction and the check amount needed to complete the sale In addition to interchange fees, what transaction- related costs can a merchant most likely expect to pay when accepting credit and debit cards? - ANSWER Acquiring costs Which of the following could result if a merchant's chargeback are out of compliance? - ANSWER Higher chargeback fees, an account review, and possible termination How can a payments professional protect merchants from higher transaction fees dues to AVS mismatches? - ANSWER Educate the merchant on the need to input correct address data? A parts manufacturer with a tiered-pricing set up (two buckets) keys a Visa Business credit card transaction that qualifies for Visa's business-to-business interchange qualification. What rate will the merchant pay on this transaction? - ANSWER Visa Business B2B How can a payments professional BEST stay current with price changes and card brand updates and mandates? - ANSWER Self-educate by reading approved industry publications, websites, and materials