Mpi Session 7 Quiz- Ach

4 Questions | Total Attempts: 15

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Mpi Session Quizzes & Trivia

ACH Review Quiz


Questions and Answers
  • 1. 
    ACH is...
    • A. 

      When credit card is swiped at a merchants location

    • B. 

      Ability for a merchant to electronically pull fund from a checking account

    • C. 

      The merchant depositing a physical check into their bank account

  • 2. 
    When an ACH occurs the merchant receives their funds in:
    • A. 

      1 day

    • B. 

      2-3 days

    • C. 

      4-7 days

  • 3. 
    What is the advantage to check Gaurantee over just ACH
    • A. 

      No bad checks

    • B. 

      Faster deposits

    • C. 

      It's cheaper

  • 4. 
    Reoccurring billing is possible with ACH.
    • A. 

      True

    • B. 

      False