ETA CPP EXAM QUESTIONAS AND
ANSWERS.
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
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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
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
ANSWERS.
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
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
