Module 1 - Session 1

26 Questions | Total Attempts: 485

SettingsSettingsSettings
Please wait...
Module 1 - Session 1

Enter your name and email below to begin your quiz. (To pass the quiz you must score a 90 or above. Ifyou fail you must retake the quiz before moving on. )After passing the quiz, move on to session two of Module one. After passing the second quiz, you will schedule a session withyour coach to review and discuss the next steps.


Questions and Answers
  • 1. 
    Which business categories represent your target market?
    • A. 

      Supermarkets

    • B. 

      Restaurants

    • C. 

      Every business

    • D. 

      New businesses that don't yet process credit cards

  • 2. 
    What does ISO, as it relates to Credit Card processing, stand for?
    • A. 

      International Standards Organization

    • B. 

      Independent Sales Organization

    • C. 

      In Search Of

    • D. 

      Integral Support Organization

  • 3. 
    What type of business does David own?
    • A. 

      Liquor store

    • B. 

      Supermarket

    • C. 

      Internet business

    • D. 

      Shoe store

  • 4. 
    Why is it important that we collect information on the merchants equipment upfront?
    • A. 

      To discover how his competitor set him up

    • B. 

      To ensure that we can facilitate the communication to the transaction to the bank

    • C. 

      To portray to the merchant that we are industry experts

    • D. 

      All of the above

  • 5. 
    What is the first and most important piece of information you need to obtain from the merchant?
    • A. 

      Name of their current processor

    • B. 

      Processing statement

    • C. 

      The business name

    • D. 

      The business start date

  • 6. 
    A merchant can easily determine and understand their fees by simply looking at their monthly processing statement.
    • A. 

      True

    • B. 

      False

  • 7. 
    What information must you obtain before leaving the merchant?
    • A. 

      Merchant statement

    • B. 

      Industry and description of goods sold

    • C. 

      Does statement represent an average monthly volume

    • D. 

      Keyed vs Swipe percentage

    • E. 

      Tips (if restaurant)

    • F. 

      All of the above

  • 8. 
    Why do we need to know the type of equipment the merchant is using
    • A. 

      To see if the merchant has a warranty

    • B. 

      To determine if we are compatible

    • C. 

      To identify opportunities to sell additional equipment

    • D. 

      All of the above

  • 9. 
    What information do you need to collect from a merchant who is processing through a terminal?
    • A. 

      Terminal make and model number

    • B. 

      Adapter type

    • C. 

      What he paid for it

    • D. 

      All of the above

  • 10. 
    Which of the following are the main equipment types you will come across?
    • A. 

      Terminals

    • B. 

      Software and POS

    • C. 

      Gateways

    • D. 

      Websites

    • E. 

      All of the above

  • 11. 
    Which of the following is not a gateway?
    • A. 

      Authorize.net

    • B. 

      Magento

    • C. 

      FideliPay (white label USA ePay)

    • D. 

      CardKnox

  • 12. 
    Which of the following are features of a gateway?
    • A. 

      Virtual terminal

    • B. 

      Swiping transactions through USB

    • C. 

      Mobile payment portal

    • D. 

      All of the above

  • 13. 
    What information do you need to collect from a merchant who is processing through a gateway?
    • A. 

      Name of gateway

    • B. 

      Does he have a customer database

    • C. 

      If he is willing to change gateways?

    • D. 

      All of the above

  • 14. 
    How many different types of POS systems are there?
    • A. 

      < 50

    • B. 

      50 - 100

    • C. 

      101 - 499

    • D. 

      Over 500

  • 15. 
    The two ways a POS system can process transactions are by communicating with the bank directly or communicating through a gateway.
    • A. 

      True

    • B. 

      False

  • 16. 
    Which industries do not use a POS system?
    • A. 

      Fast food

    • B. 

      Retailers

    • C. 

      Online merchants

    • D. 

      Restaurants

  • 17. 
    A terminal can be used as a virtual terminal to process credit card transactions over the internet. 
    • A. 

      True

    • B. 

      False

  • 18. 
    What information do you need to collect from a merchant who is processing through a Software/POS?
    • A. 

      Name and version of the software/POS system

    • B. 

      Name of the gateway being used to send transactions to the bank

    • C. 

      Contact information of the POS provider

    • D. 

      Whether or not they offer a gift card program

    • E. 

      All of the above

  • 19. 
    Selling online through a website is known as
    • A. 

      ECommerce

    • B. 

      Online marketplace

    • C. 

      Social media marketing

    • D. 

      None of the above

  • 20. 
    A website does not need a gateway in order to communicate transactions to the bank.
    • A. 

      True

    • B. 

      False

  • 21. 
    What's the most integral component of integrating Fidelity with an eCommerce site?
    • A. 

      Getting the merchant approved for a processing account

    • B. 

      The description of goods sold

    • C. 

      Making sure their site is PCI compliant

    • D. 

      Ensuring that their shopping cart is compatible with the gateway they are using

  • 22. 
    What is the challenge with shopping carts like Shopify?
    • A. 

      Integration

    • B. 

      They charge an additional 1%

    • C. 

      Merchant's are locked in a contract

    • D. 

      All of the above

  • 23. 
    What information you need to collect from a merchant processing through a website?
    • A. 

      Web address

    • B. 

      Shopping Cart

    • C. 

      Name of the gateway being used to send transactions to the bank

    • D. 

      All of the above

  • 24. 
    When submitting a statement, what tracks of information are you going to be asked to submit?
    • A. 

      Statement track

    • B. 

      Equipment track

    • C. 

      Both

  • 25. 
    What is the process for submitting a statement and other information you collected to Fidelity?
    • A. 

      Mail it to Fidelity

    • B. 

      Send it in an Email to Fidelity

    • C. 

      Online submittal form

    • D. 

      Bring it to the office

Back to Top Back to top