EMV
PCI Compliance
Chargebacks
Smarter Than a 5th Grader?
100
What does EMV stand for?
Europay, MasterCard and Visa
100
What does the PCI, in PCI Compliance stand for?
Payment Card Industry
100
What card association (card brand) is consolidating their chargeback reason codes?
VISA
100

Who was the first person to step foot on the moon?

a. John Glenn

b. Neil Armstrong

c. Allen Shepard

d. Christopher Hearn

b. Neil Armstrong

200
Businesses that have an EMV-enabled device are safe from card data theft. True or False?
False. EMV enable devices only protect against card present fraud, and do not alone protect against card data theft.
200

PCI compliance is only mandatory for businesses that process:

A. Over $6 million in payment card transactions

B. Any amount of payment card transactions

C. More than $20,000 in payment card transactions

(B) PCI applies to all businesses that accept credit or debit card payments, regardless of size. Compliance is mandatory, and failure to do so leaves a merchant vulnerable to a data breach.
200
If a cardholder contacts their issuing bank and states that their card was in their possession and they did not purchase anything from FashionNova.com, what chargeback reason code would be assigned to this case?
Fraud
200

What planet is closet to the sun?

a. Pluto

b. Mercury

c. Venus

d. Earth

b. Mercury

300

When did the signature requirement become optional for all EMV-enabled merchants in the U.S?

A. March 1, 2018

B. March 21, 2018

C. April 14, 2018


C. April 14, 2018
300
What does SAQ Stand for?

Self-Assessment Questionnaire

300
What does it mean when a merchant receives a chargeback for "exceeding the floor limit"?

A floor limit is the maximum amount a merchant can charge to the customers card without getting authorization. For a charge above the floor limit, the merchant must obtain authorization from the card issuer.

For example, If a store has a floor limit of $30.00, a purchase costing $29.99 (or less) would not need to be authorized by the customer's bank. However, a transaction of $30.00 (or more) would require authorization to confirm that the customer has the necessary funds available in their bank account.

300
Name the civil rights activist was assassinated on a hotel balcony on April 4, 1968?
Martin Luther King
400

What month and year was the Liability shift effective? A. August 2014

B. December 31, 2015

C. October 2015

(C) With this liability shift, the party that is the cause of a chip transaction not occurring (i.e., either the cardholder/issuer or the merchant/ acquirer) will be held financially liable for any resulting card present counterfeit fraud losses. The shift helps to better protect all parties by encouraging chip transactions that use unique, dynamic authentication data.
400

What is a Common Point of Purchase (CPP) report?

What does it tell us (the acquierer) and the card associations (VISA, MC, Discover and AMEX)?

The Common Point of Purchase report tells the Acquirer and the Card associations the common point that all the compromised cardholders have in common.

400

What is "friendly fraud"?

A – Consumers illegitimately dispute a transaction with the bank instead of contacting the merchant for a refund.

B – The cardholder didn’t recognize the charge or forgot about making the purchase and contacted their bank to dispute the transaction.

C – A customer uses a credit card to make a purchase, and then disputes the charge with their credit card company once the item(s) are received.

D – All of the above (Friendly fraud means the actual cardholder made the transaction. The cardholders card number had not been compromised by a fraudster.)

E – None of the above

D – All of the above (Friendly fraud means the actual cardholder made the transaction. The cardholders card number had not been compromised by a fraudster.)

400

What is the closest star to the earth?

a. Moon

b.Orion

c. The Sun

d. The North Star

c. The Sun
500

If a customer has to swipe their chip card for payment instead of dipping it in an EMV terminal and the transaction results in a chargeback, who is responsible for the fees associated with the chargeback?

A. The merchant

B. The payment card brand (ie. Visa, MasterCard, Discover)

C. The reseller who provided the payment terminal

D. The issuing bank (the credit card issuer)

A. With the implementation of the liability shift on October 1, 2015, merchants may be held liable for certain fraud related chargebacks if they process chip cards on a terminal that is not EMV-enabled.
500

How Many Different SAQ (Self Assessment Questionnaire) validation levels are there?

5.

A- Card-not-present (e-commerce or mail/telephone-order) merchants, all cardholder data functions outsourced. This would never apply to face-to-face merchants.

B- Imprint-only merchants with no electronic cardholder data storage, or standalone, dialout terminal merchants with no electronic cardholder data storage.

C-Merchants with payment application systems connected to the Internet, no electronic cardholder data storage.

C-VT- Merchants using only web-based virtual terminals, no electronic cardholder data storage.

D- All other merchants not included in descriptions for SAQ types A through C above, and all service providers defined by a payment brand as eligible to complete an SAQ.

500

The customer has participated in a trial offer and cancelled the service(s)/merchandise but was charged a subsequent amount.

The correct reason code to use would be 4860-Credit not processed. True or False

False. The reason code should be cancelled recurring transaction
500

You have 10 seconds to name 4 states that start with the letter "A"

Ready.........Set.........Go!

Alabama

Alaska

Arizona

Arkansas

M
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