Are You Prepared For The Emv Migration?
.png "Are You Prepared For The Emv Migration?")
- 1.What is EMV?
- A.
A new, secure method for processing credit-card payments.
- B.
A new U.S. standard for electric vehicles.
- C.
An interoperability standard for trading stocks and bonds.
- D.
A tax on international money transactions.
- 2.What does "EMV" stand for?
- A.
Electronic Money Valuation
- B.
Europay, MasterCard and Visa
- C.
European Migration Venture
- D.
Eat More Veggies
- 3.What is the main benefit of EMV chips?
- A.
They're easier to use.
- B.
They're more secure.
- C.
They're faster to use.
- D.
They're less expensive.
- 4.Since EMV was introduced in the U.K., face-to-face credit-card fraud has dropped by how much?
- A.
27%
- B.
51%
- C.
72%
- D.
98%
- 5.How can customers verify a purchase using EMV?
- A.
Chip-and-PIN: Customer inputs a PIN to confirm a transaction.
- B.
Chip-and-Signature: Customer writes a signature to confirm a purchase.
- C.
Offline Chip-and-PIN: Customer inputs a PIN while the terminal isn’t directly connected to a connection.
- D.
All of these.
- 6.Which verification method will most U.S. banks choose to go with?
- A.
Chip-and-PIN: Customer inputs a PIN to confirm a transaction.
- B.
Chip-and-Signature: Customer writes a signature to confirm a purchase.
- C.
Offline Chip-and-PIN: Customer inputs a PIN while the terminal isn’t directly connected to a connection.
- 7.Will customers still be able to swipe their cards?
- A.
Yes.
- B.
No.
- 8.Is there an EMV certification requirement?
- A.
Yes.
- B.
No.
- 9.How many levels of EMV testing for certification are there?
- A.
2
- B.
3
- C.
4
- D.
5
- 10.How much time will Level 3 certification take?
- A.
As little as 2 weeks.
- B.
As long as 8 months.
- C.
Both are correct.
- D.
Neither.
- 11.Who is mandating the EMV migration?
- A.
Credit Card Companies (Visa, MasterCard, etc.)
- B.
The Federal Government
- C.
State Governments
- D.
Banks
- 12.When is the migration deadline?
- A.
October 1, 2015
- B.
October 31, 2015
- C.
January 1, 2016
- D.
April 1, 2016
- 13.Who is liable for credit-card fraud after the Oct. 1, 2015, deadline?
- A.
The credit-card holder whose name is on the card.
- B.
The party with the most-secure means of accepting payment.
- C.
The party with the least-secure means of accepting payment.
- D.
The federal government.
- 14.What are the two types of EMV transactions?
- A.
Contact transactions and clear transactions.
- B.
Concealed transactions and clean transactions.
- C.
Closed transactions and open transactions.
- D.
Contact transactions and contactless transactions.
- 15.During a contact EMV transaction, which of the following is a requirement?
- A.
Physically tap the card to the payment machine.
- B.
Insert the card, then pull it out quickly.
- C.
Keep the card inserted until the transaction is complete.
- D.
Insert your personal identification number.
Questions: 15 | Attempts: 607 | Last updated: Apr 7, 2015
-
Sample QuestionWhat is EMV?
Questions: 7 | Attempts: 1079 | Last updated: Jul 30, 2011
-
Sample QuestionYou come across a really foxy lady, i mean she is really hot. You ask her on a date and she agrees. She gets to your house, but your dog who is usually really lazy start freaking out and barking at her like crazy. What do you do?
Back to top