The IPL Quiz: Trivia Questions!

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| By Jennylee2033
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Jennylee2033
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Quizzes Created: 4 | Total Attempts: 1,123
Questions: 28 | Attempts: 265

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The IPL Quiz: Trivia Questions! - Quiz

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Questions and Answers
  • 1. 

    What is not a qualifying factor that determines how much IPL limit you receive?

    • A.

      Profile completeness

    • B.

      None

    • C.

      Ratings of your blogs

    • D.

      Processing fee payment

    Correct Answer
    B. None
    Explanation
    The question asks for a factor that does not determine the IPL limit a person receives. The options given are profile completeness, ratings of your blogs, processing fee payment, and none. The correct answer is "none" because it implies that all the factors mentioned (profile completeness, ratings of your blogs, and processing fee payment) are indeed qualifying factors that determine the IPL limit.

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  • 2. 

    What triggers the IPL limit increases?

    • A.

      Automatically by the FanBox system as you become eligible

    • B.

      Availability of IPL funds in the community IPL pool

    • C.

      Whether or not you are paying your IPL processing fee on time

    • D.

      All the selections

    Correct Answer
    D. All the selections
    Explanation
    The correct answer is "All the selections." This means that all of the mentioned factors can trigger the IPL limit increases. The increase in IPL limit can be triggered automatically by the FanBox system as you become eligible, based on the availability of IPL funds in the community IPL pool, and also depending on whether or not you are paying your IPL processing fee on time.

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  • 3. 

    What actions do you need to make so that your IPL limit is not utilized?

    • A.

      Pause your current ads and boost portfolios

    • B.

      Refrain from boosting

    • C.

      Refrain from purchasing ads

    • D.

      All the selections

    Correct Answer
    D. All the selections
    Explanation
    To ensure that your IPL limit is not utilized, you need to take all the mentioned actions. This means you should pause your current ads and boost portfolios, refrain from boosting, and refrain from purchasing ads. By doing all of these actions, you will prevent your IPL limit from being used and potentially exceeding the set limit.

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  • 4. 

    What happens if your IPL fund is not utilized within a reasonable period of time?

    • A.

      You will lose your FanBox account

    • B.

      Your IPL funds will be returned to the community IPL pool

    • C.

      You will lose all of your earnings

    • D.

      None of the selections

    Correct Answer
    B. Your IPL funds will be returned to the community IPL pool
    Explanation
    If your IPL fund is not utilized within a reasonable period of time, it will be returned to the community IPL pool. This means that the funds you have contributed will be pooled together with the funds of other users who have not utilized their IPL funds, and these pooled funds will be used for the benefit of the community as a whole. This ensures that the funds are not wasted or left unused, but rather put to good use for the benefit of all users.

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  • 5. 

    What is the minimum processing fee due?

    • A.

      $1

    • B.

      $2

    • C.

      $1.5

    • D.

      No minimum

    Correct Answer
    B. $2
    Explanation
    The minimum processing fee due is $2 because it is the highest amount listed among the options provided. Since the question asks for the minimum fee, the answer must be the smallest amount that needs to be paid, which is $2.

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  • 6. 

    Processing fees apply to your un-utilized IPL amount.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    The statement is false. Processing fees do not apply to un-utilized IPL (Initial Public Offering) amount. Processing fees are typically charged for processing transactions or applications, but in this case, since the IPL amount is un-utilized, there is no transaction or application to be processed, therefore no processing fees apply.

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  • 7. 

    You do not pay a processing fee on un-utilized amounts in your IPL Limit.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The statement implies that if you have an IPL (Instant Personal Loan) Limit and you do not utilize the entire amount, you will not be charged a processing fee on the un-utilized portion. This means that you only pay the processing fee on the amount you actually use from your IPL Limit. Therefore, the statement is true.

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  • 8. 

    What do you need to do to automatically lower your IPL limit?

    • A.

      Nothing--the system automatically does it for you

    • B.

      Pay down any utilized IPL amount

    • C.

      Pay your processing fee on time

    • D.

      None of the selections

    Correct Answer
    B. Pay down any utilized IPL amount
    Explanation
    To automatically lower your IPL limit, you need to pay down any utilized IPL amount. This means that if you have borrowed money from your IPL (Individual Payment Limit), you need to repay that amount in order for the system to automatically lower your IPL limit. By paying off your borrowed amount, you are reducing your outstanding balance and therefore decreasing your IPL limit. This ensures that you are not borrowing more than you can afford and helps to manage your credit effectively.

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  • 9. 

    What is the IPL processing fee?

    • A.

      A fee paid into the IPL pool by all IPL users

    • B.

      A fee charged for the privilege of utilizing IPL funds

    • C.

      All of the selections

    • D.

      A fair use charge

    Correct Answer
    C. All of the selections
    Explanation
    The correct answer is "All of the selections." This means that the IPL processing fee encompasses all the options mentioned in the question. It is a fee paid into the IPL pool by all IPL users, charged for the privilege of utilizing IPL funds, and can also be considered a fair use charge.

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  • 10. 

    What happens when your processing fee due date arrives?

    • A.

      The system multiplies your processing fee percentage against your IPL utilized amount as of that date to calculate your processing fee

    • B.

      You will have to manually pay your processing fee

    • C.

      Your Paypal account is automatically charged for the processing fee you owe

    • D.

      Your credit card account is automatically charged for the processing fee you owe

    Correct Answer
    A. The system multiplies your processing fee percentage against your IPL utilized amount as of that date to calculate your processing fee
    Explanation
    When your processing fee due date arrives, the system calculates your processing fee by multiplying your processing fee percentage against your IPL utilized amount as of that date.

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  • 11. 

    What is not a way to pay your processing fee?

    • A.

      Matured funds in your FanBox bank

    • B.

      Paypal

    • C.

      Western Union

    • D.

      Wire Transfer

    Correct Answer
    D. Wire Transfer
    Explanation
    Wire Transfer is not a way to pay your processing fee. The other options listed, such as Matured funds in your FanBox bank, Paypal, and Western Union, are all valid methods of payment for the processing fee. However, Wire Transfer is not mentioned as an acceptable method, indicating that it is not a way to pay the fee.

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  • 12. 

    How can you lower or eliminate your processing fee?

    • A.

      By purchasing products and services

    • B.

      By being a power user

    • C.

      By purchasing premium blogs

    • D.

      All of the selections

    Correct Answer
    D. All of the selections
    Explanation
    By selecting "all of the selections," it suggests that lowering or eliminating the processing fee can be achieved through a combination of purchasing products and services, being a power user, and purchasing premium blogs. This implies that each of these actions contributes to reducing or eliminating the processing fee in some way.

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  • 13. 

    How much do you receive in cashback when you make a purchase after your processing fee is paid?

    • A.

      33.3%

    • B.

      30%

    • C.

      25%

    • D.

      15%

    Correct Answer
    A. 33.3%
    Explanation
    When you make a purchase after your processing fee is paid, you receive a cashback of 33.3%.

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  • 14. 

    What happens if you protect your account using the free Account Protection Plan?

    • A.

      Your processing fee can be automatically charged to your PayPal or credit card

    • B.

      You eliminate any potential penalties for late payment of your processing fee

    • C.

      All of the selections

    • D.

      You keep your IPL account in good standing

    Correct Answer
    C. All of the selections
    Explanation
    If you protect your account using the free Account Protection Plan, all of the selections mentioned in the options will happen. This means that your processing fee can be automatically charged to your PayPal or credit card, eliminating any potential penalties for late payment of the fee. By doing so, you keep your IPL account in good standing.

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  • 15. 

    From the day your processing fee is due, how long do you have to pay your processing fee?

    • A.

      10 days

    • B.

      5 days

    • C.

      12 days

    • D.

      15 days

    Correct Answer
    A. 10 days
    Explanation
    You have 10 days to pay your processing fee from the day it is due.

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  • 16. 

    10 days after your processing fee is due, if any portion of it remains unpaid, what is the penalty charge?

    • A.

      $10

    • B.

      $15

    • C.

      $20

    • D.

      $25

    Correct Answer
    A. $10
    Explanation
    The penalty charge for any portion of the processing fee remaining unpaid 10 days after its due date is $10.

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  • 17. 

    What happens if any portion of your processing fee remains unpaid after 30 days?

    • A.

      You will be assessed another $10 in late fees

    • B.

      Your processing fee for that month will double

    • C.

      Your FanBox account will be flagged as being untrustworthy

    • D.

      All of the selections

    Correct Answer
    B. Your processing fee for that month will double
    Explanation
    If any portion of your processing fee remains unpaid after 30 days, your processing fee for that month will double. This means that if you fail to pay the processing fee on time, you will be charged an additional amount equal to the original fee, effectively doubling the cost for that month.

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  • 18. 

    What will eventually happen if your IPL fee remains unpaid?

    • A.

      You may lose your IPL account

    • B.

      All of the selections

    • C.

      Your un-utilized IPL funds will be returned to the IPL pool

    • D.

      Your IPL earnings will be returned to the IPL community pool

    Correct Answer
    B. All of the selections
    Explanation
    If your IPL fee remains unpaid, you will lose your IPL account, and as a result, all of the selections you have made will be lost. Additionally, your un-utilized IPL funds will be returned to the IPL pool, and your IPL earnings will be returned to the IPL community pool.

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  • 19. 

    Which of these statements is true?

    • A.

      Your processing fee will never change

    • B.

      Your processing fee will always be 1.6%

    • C.

      None of the selections

    • D.

      Your processing fee will likely be different from the month before

    Correct Answer
    D. Your processing fee will likely be different from the month before
    Explanation
    The statement "Your processing fee will likely be different from the month before" is true because processing fees can vary based on various factors such as changes in the merchant's business volume, industry regulations, or updates in payment processing systems. Therefore, it is likely that the processing fee will not remain the same from one month to another.

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  • 20. 

    Your processing fee percentage can vary slightly each month based on economy utilization factors that are variables.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The given statement suggests that the processing fee percentage can fluctuate each month based on economy utilization factors, which are variables. This implies that the processing fee is not fixed and can change depending on various economic factors. Therefore, the statement is true.

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  • 21. 

    The community IPL pool is the total funds available for use by FanBoxers via their IPL accounts.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The statement is explaining that the community IPL pool refers to the total funds that FanBoxers can access through their IPL accounts. This suggests that the statement is true, as it implies that FanBoxers have a collective pool of funds available for their use.

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  • 22. 

    How can you utilize your IPL funds?

    • A.

      For ads that promote your blogs, or the blogs of other people

    • B.

      To boost the ads of other FanBoxers

    • C.

      All of the selections

    • D.

      Fund your ads that promote your products, services and premium blogs

    Correct Answer
    C. All of the selections
    Explanation
    The correct answer is "All of the selections." This means that you can utilize your IPL funds in multiple ways. You can use them for ads that promote your own blogs or the blogs of others, boost the ads of other FanBoxers, and fund your ads that promote your products, services, and premium blogs. This option allows for maximum flexibility and the ability to allocate funds to different advertising strategies based on your needs and goals.

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  • 23. 

    Which of these statements about IPL is true?

    • A.

      Your IPL Limit is the maximum amount of IPL funds that you’ve been cleared to utilize

    • B.

      IPL because it is the fastest and easiest way to accelerate earnings on FanBox

    • C.

      Your IPL limit can be increased, in incremental steps, with the passing of time as you achieve each qualifying step

    • D.

      All of the selections

    Correct Answer
    D. All of the selections
    Explanation
    The statement "all of the selections" is true. This means that all the statements mentioned in the options are true. The first statement states that the IPL Limit is the maximum amount of IPL funds that you've been cleared to utilize, which is true. The second statement states that IPL is the fastest and easiest way to accelerate earnings on FanBox, which is also true. The third statement states that your IPL limit can be increased in incremental steps with the passing of time as you achieve each qualifying step, which is again true. Therefore, all the statements are true.

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  • 24. 

    How long is your IPL fee due after you have paid off your processing fee for the first time?

    • A.

      30 days

    • B.

      15 days

    • C.

      10 days

    • D.

      None of the selections

    Correct Answer
    A. 30 days
    Explanation
    After paying off the processing fee for the first time, your IPL fee is due within 30 days. This means that you have a month to make the payment for your IPL fee after clearing the processing fee.

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  • 25. 

    How much of your money in your boost portfolio will the system use approximately every day until the total boost portfolio is utilized?

    • A.

      1%

    • B.

      5%

    • C.

      100%

    • D.

      None of the selections

    Correct Answer
    B. 5%
    Explanation
    The system will use approximately 5% of your money in your boost portfolio every day until the total boost portfolio is utilized.

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  • 26. 

    Why does my processing fee change each month? 

    • A.

      None of the selections

    • B.

      Your fee is based on how much you have used that month

    • C.

      FanBox doesn't want you to pay the same amount each month

    • D.

      Your fee varies based on the total amount of IPL you have utilized

    Correct Answer
    D. Your fee varies based on the total amount of IPL you have utilized
    Explanation
    The correct answer states that the processing fee changes each month based on the total amount of IPL (Initial Processing Limit) that the user has utilized. This means that the fee is not fixed and will vary depending on the user's usage.

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  • 27. 

    When IPL is initially launched, ad budgets are automatically set to _____ per day.

    • A.

      .01

    • B.

      $1

    • C.

      $5

    • D.

      None of the selections

    Correct Answer
    B. $1
    Explanation
    When IPL is initially launched, ad budgets are automatically set to $1 per day.

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  • 28. 

    When IPL is initially launched, an ad CPC (cost per click) is automatically set to _____ per day.

    • A.

      $10

    • B.

      $5

    • C.

      .01

    • D.

      $1

    Correct Answer
    C. .01
    Explanation
    When IPL is initially launched, an ad CPC (cost per click) is automatically set to .01 per day. This means that advertisers will be charged 1 cent for each click on their ads. This low CPC rate allows advertisers to test the performance of their ads without spending a significant amount of money. As the campaign progresses and more data is collected, advertisers can adjust their CPC bids accordingly to optimize their ad performance and budget allocation.

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Quiz Review Timeline +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Apr 26, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Feb 16, 2013
    Quiz Created by
    Jennylee2033
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