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
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
What planet is closet to the sun?
a. Pluto
b. Mercury
c. Venus
d. Earth
b. Mercury
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
Self-Assessment Questionnaire
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.
What month and year was the Liability shift effective? A. August 2014
B. December 31, 2015
C. October 2015
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.
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.)
What is the closest star to the earth?
a. Moon
b.Orion
c. The Sun
d. The North Star
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)
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.
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
You have 10 seconds to name 4 states that start with the letter "A"
Ready.........Set.........Go!
Alabama
Alaska
Arizona
Arkansas