ETA CPP Study Guide Exam 2026 -2027\Newest Version 1 & 2
Exam Newest With Complete Questions And
Correct Detailed Answers| Brand New Version!
Level 1 Data
Level I purchasing card data includes the same information captured during a
traditional credit card purchase transaction. This includes: total purchase
amount, date, merchant
category code and supplier/retailer name.
Level 2 Data
Level II purchasing card data includes the same information captured at Level I,
plus the following: sales tax amount, customer's accounting code, merchant's tax
ID number,
applicable minority - and women-owned business status and sales outlet ZIP
code.
Level 3 Data
Level III purchasing card data includes the same information captured at Levels
I and II, plus the following: quantities, product codes, product descriptions,
ship to ZIP, freight amount, duty amount, order/ticket number, unit of
measure, extended item amount,
discount indicator, discount amount, net/gross indicator, tax rate applied, tax
type applied, debit or credit indicator and alternate tax identifier.
,Discount Rate (Credit/Debit)
The discount rate is the fee paid by merchants to credit card processors as a fee
associated with accepting general-use credit cards (such as Visa, MasterCard,
American Express and Discover). Typically this fee runs between 1 percent and 3
percent,
depending on the nature of the transaction.
Daily or monthly discount
With monthly discount, your processor deducts fees from your account in one
lump sum once a month. With daily discount, your processor charges fees daily
throughout the month as well as at the end of the month.
Surcharge
A charge added to the usual cost
Billback
Billback or bill back is an accounting service and/or suite of software that is
used for cost recovery.
ERR Rates
Enhanced Rate Recovery Pricing. As a merchant business with an ERR rate of
1.69% for your merchant account, you will be charged 1.69% for any
transaction that qualifies on The Interchange Table at 1.69% or below.
,Interchange Plus
Interchange Plus pricing gets its name based on the fact that the rate charged for
the transaction comes straight from the Interchange table "plus" a surcharge
amount.
Tiered
Tiered pricing gets its name from the fact that there are multiple tiers set up to
determine the price associated with the transaction.
Sales Volume
The quantity or number of goods sold or services sold in the normal operations of
a company in a specified period.
Transaction Counts
the total number of transactions that are processed within a merchant account.
Average Ticket
Average ticket is a metric that provides details on the average amount of sales
by a given customer. It is used by a range of businesses when analyzing
business performance and sales activity.
Authorization Fees
The amount of money that is charged directly to an individual merchant
account each time communication is made between credit card processing
software (when the sale transaction is processed online, etc.) or point of
sale (POS) terminal (when the sale
transaction is processed physically in person) and the authorizing network.
, Effective rate
The effective rate of a credit card processing statement is the total processing
fees divided by total sales volume.
Batches
Batch credit card processing is the practice of a merchant processing all of
its authorized credit card transactions for the day after the close of business or
at a time determined by the credit card processor.
Exam Newest With Complete Questions And
Correct Detailed Answers| Brand New Version!
Level 1 Data
Level I purchasing card data includes the same information captured during a
traditional credit card purchase transaction. This includes: total purchase
amount, date, merchant
category code and supplier/retailer name.
Level 2 Data
Level II purchasing card data includes the same information captured at Level I,
plus the following: sales tax amount, customer's accounting code, merchant's tax
ID number,
applicable minority - and women-owned business status and sales outlet ZIP
code.
Level 3 Data
Level III purchasing card data includes the same information captured at Levels
I and II, plus the following: quantities, product codes, product descriptions,
ship to ZIP, freight amount, duty amount, order/ticket number, unit of
measure, extended item amount,
discount indicator, discount amount, net/gross indicator, tax rate applied, tax
type applied, debit or credit indicator and alternate tax identifier.
,Discount Rate (Credit/Debit)
The discount rate is the fee paid by merchants to credit card processors as a fee
associated with accepting general-use credit cards (such as Visa, MasterCard,
American Express and Discover). Typically this fee runs between 1 percent and 3
percent,
depending on the nature of the transaction.
Daily or monthly discount
With monthly discount, your processor deducts fees from your account in one
lump sum once a month. With daily discount, your processor charges fees daily
throughout the month as well as at the end of the month.
Surcharge
A charge added to the usual cost
Billback
Billback or bill back is an accounting service and/or suite of software that is
used for cost recovery.
ERR Rates
Enhanced Rate Recovery Pricing. As a merchant business with an ERR rate of
1.69% for your merchant account, you will be charged 1.69% for any
transaction that qualifies on The Interchange Table at 1.69% or below.
,Interchange Plus
Interchange Plus pricing gets its name based on the fact that the rate charged for
the transaction comes straight from the Interchange table "plus" a surcharge
amount.
Tiered
Tiered pricing gets its name from the fact that there are multiple tiers set up to
determine the price associated with the transaction.
Sales Volume
The quantity or number of goods sold or services sold in the normal operations of
a company in a specified period.
Transaction Counts
the total number of transactions that are processed within a merchant account.
Average Ticket
Average ticket is a metric that provides details on the average amount of sales
by a given customer. It is used by a range of businesses when analyzing
business performance and sales activity.
Authorization Fees
The amount of money that is charged directly to an individual merchant
account each time communication is made between credit card processing
software (when the sale transaction is processed online, etc.) or point of
sale (POS) terminal (when the sale
transaction is processed physically in person) and the authorizing network.
, Effective rate
The effective rate of a credit card processing statement is the total processing
fees divided by total sales volume.
Batches
Batch credit card processing is the practice of a merchant processing all of
its authorized credit card transactions for the day after the close of business or
at a time determined by the credit card processor.
