Qir Practice Exam 1

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  • 1/108 Questions

    The Implementation Guide and Implementation Statement are to be used together on each Qualified Installation.

    • True
    • False
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About This Quiz

QIR Practice Exam 1 assesses knowledge on PCI standards, focusing on sensitive data handling, cardholder data, and secure payment environments. It is essential for professionals managing payment security.

Qir Practice Exam 1 - Quiz

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  • 2. 

    Account Data includes cardholder data and/or sensitive authentication data. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    Account Data refers to the information associated with a cardholder's account, including cardholder data and sensitive authentication data. Cardholder data includes the primary account number (PAN) and other personal information, while sensitive authentication data includes data such as the card's expiration date and CVV code. Therefore, it is true that Account Data includes cardholder data and/or sensitive authentication data.

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  • 3. 

    Many PA-DSS requirements are derived from PCI DSS Requirements and Security Assessment (PCI DSS). 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The statement is true because PA-DSS requirements are indeed derived from PCI DSS requirements and security assessments. PA-DSS stands for Payment Application Data Security Standard, which is a set of requirements designed to ensure that payment applications are secure and do not store sensitive cardholder data. Since PCI DSS is a comprehensive standard for securing cardholder data, it makes sense that PA-DSS requirements would be derived from it to ensure consistency and alignment in security measures.

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  • 4. 

    The Payment Card Industry Data Security Standard (PCI DSS) is managed by the __________?

    • QSA

    • PCI Security Standards Council

    • ISA

    • QIR

    Correct Answer
    A. PCI Security Standards Council
    Explanation
    The correct answer is PCI Security Standards Council. The PCI DSS is a set of security standards designed to ensure that all companies that accept, process, store, or transmit credit card information maintain a secure environment. The PCI Security Standards Council is responsible for managing and maintaining these standards, as well as providing guidance and support to organizations in implementing them. The council is made up of major payment card brands, such as Visa, Mastercard, and American Express, and is responsible for enforcing compliance with the PCI DSS.

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  • 5. 

    For wireless environments connected to the cardholder data environment or transmitting cardholder data, ALL wireless vendor defaults should be changed prior to installation, including but not limited to default wireless encryption keys, passwords, and SNMP community strings. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    Payment Card Industry (PCI) Data Security Standard, v3.2 Requirement 2.1.1

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  • 6. 

    Track data, also referred to as "full track data" or "magnetic-stripe data," is data encoded in the magnetic stripe or chip used for authentication and/or authorization during payment transactions. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    Also referred to as “full track data” or “magnetic-stripe data.” Data encoded in
    the magnetic stripe or chip used for authentication and/or authorization during
    payment transactions. Can be the magnetic-stripe image on a chip or the data
    on the track 1 and/or track 2 portion of the magnetic stripe. ---- PCI DSS and PA-DSS Glossary of Terms, Abbreviations, and Acronyms January 2014
    © 2006-2013 PCI Security Standards Council, LLC. All Rights Reserved Page 19

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  • 7. 

    PCI DSS sets the foundation for other PCI Standards and related requirements. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    QIR Program Guide, v 3.0 September 2015
    © 2015 PCI Security Standards Council, LLC Page 1

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  • 8. 

    QIR Implementation Statement is a template used to document the results of a Qualified Installation. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    QIR Program Guide, v 3.0 September 2015
    © 2015 PCI Security Standards Council, LLC Page 1

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  • 9. 

    The Payment Card Industry (PCI) Qualified Integrators and Resellers (QIR) Program Guide (or "QIR Program Guide") should be used in conjunction with the latest versions of the PCI SSC publications, each as available through the PCI SSC Website. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    QIR Program Guide, v 3.0 September 2015
    © 2015 PCI Security Standards Council, LLC Page 1

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  • 10. 

    The QIR Employee Additional Observations, of the Implementation Statement,  section provides the QIR Employee a place to document any concerns or issues identified during the Qualified Installation. Any observations or details applicable to the overall installation that the Customer needs to be aware of should be recorded in this section. Also, any anomalies or issues observed that may affect the Customers’ PCI DSS compliance should be recorded here. This is also where the QIR Employee will record explanations for any tasks that could not be or were not performed as part of the Qualified Installation, such as a required task that the Customer executed rather than the QIR Employee. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    QIR Program Guide, v 3.0 September 2015
    © 2015 PCI Security Standards Council, LLC Page 7 -----The Implementation Statement is divided into three
    (3) parts; Part 1: Implementation Statement Summary, Part 2: Implementation Statement Details
    and Part 3: QIR Employee Additional Observations.

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  • 11. 

    The second section of the QIR Implementation Statement, or Implementation Statement Details, contains a checklist of tasks that must be completed during the Qualified Installation. The checklist provides the QIR Employee with a systematic way to comprehensively document each step of the Qualified Installation. The activities conducted during the installation and configuration of the Payment Application must be recorded so that the customer understands, and has a record of, changes made to their environment. The QIR Implementation Instructions provides details for each task. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    QIR Program Guide, v 3.0 September 2015
    © 2015 PCI Security Standards Council, LLC Page 6 ------The Implementation Statement is divided into three
    (3) parts; Part 1: Implementation Statement Summary, Part 2: Implementation Statement Details
    and Part 3: QIR Employee Additional Observations.

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  • 12. 

    The QIR Company must review, at least annually, updates to the applicable PA-DSS Implementation Guide and supporting documentation to remain current with all major and minor software changes, and QIR Company training materials must be updated to reflect all major and minor software changes. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    QIR Program Guide, v 3.0 September 2015
    © 2015 PCI Security Standards Council, LLC Page 7

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  • 13. 

     The status of a QIR Company or QIR Employee is initially Good Standing but may change based on quality concerns, feedback, administrative issues, or other factors.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    QIR Program Guide, v 3.0 September 2015
    © 2015 PCI Security Standards Council, LLC Page 10

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  • 14. 

    PCI DSS requirements are applicable wherever primary account number (PAN) or sensitive authentication data (SAD) is stored, processed, or transmitted. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The Payment Card Industry Data Security Standard (PCI DSS) applies to any organization that stores, processes, or transmits primary account numbers (PAN) or sensitive authentication data (SAD). This means that if an organization handles credit card information, they must comply with the PCI DSS requirements to ensure the security and protection of this sensitive data. Therefore, the statement "PCI DSS requirements are applicable wherever primary account number (PAN) or sensitive authentication data (SAD) is stored, processed, or transmitted" is true.

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  • 15. 

    Account data includes all of the information printed on the physical card as well as the data on the magnetic stripe or chip. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    Account data refers to all the information that is present on the physical card, such as the cardholder's name, card number, and expiration date. Additionally, it also includes the data that is stored on the magnetic stripe or chip of the card, which is used for transactions and authentication purposes. Therefore, the statement that account data includes both the information on the physical card and the data on the magnetic stripe or chip is true.

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  • 16. 

    Sensitive authentication data is not stored post-authorization. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    Sensitive authentication data refers to information that can be used to authenticate or authorize access to a system, such as passwords, PINs, or security codes. Storing this data after the authorization process increases the risk of unauthorized access or misuse. Therefore, it is important to ensure that sensitive authentication data is not stored post-authorization to maintain security and protect user information.

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  • 17. 

    By signing the Implementation Statement, the customer acknowledges the following (select all that apply)

    • The customer accepts the information documented within the Implementation Statement

    • The customer has read and understands all potential compliance issues identified in Part 3 of the Implementation Statement

    • The customer understands they are responsible for maintaining their PCI DSS compliance

    • The customer understands that any changes to the payment application or underlying systems should be made in accordance with PCI DSS Requirements

    Correct Answer(s)
    A. The customer accepts the information documented within the Implementation Statement
    A. The customer has read and understands all potential compliance issues identified in Part 3 of the Implementation Statement
    A. The customer understands they are responsible for maintaining their PCI DSS compliance
    A. The customer understands that any changes to the payment application or underlying systems should be made in accordance with PCI DSS Requirements
    Explanation
    The customer is acknowledging their acceptance of the information documented within the Implementation Statement, their understanding of potential compliance issues identified in Part 3 of the Implementation Statement, their responsibility for maintaining PCI DSS compliance, and the need to make any changes to the payment application or underlying systems in accordance with PCI DSS requirements.

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  • 18. 

    A QIR must ensure that all QIR personnel with access to any customer locations have ______________________________. 

    • A unique user account and password per each individual QIR Employee, and site location

    • The customer's credentials to access the system under their account

    • A shared account between QIRs responsible for ongoing support

    • The vendor-supplied default username and password

    Correct Answer
    A. A unique user account and password per each individual QIR Employee, and site location
    Explanation
    QIR Implementation Instructions Part 2 QIR Access - page 8

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  • 19. 

    You are the lead QIR performing an upgrade for a customer site. You notice that the personal firewall software/anti-virus on the payment application server and back office reporting PC are not enabled. What do you do? 

    • Correct the problem right away

    • Note it in the Implementation Statement Details then, upon reviewing your observations with the customer, work with them to mediate the issue

    • The customer should fix the problem

    • Anti-virus doesn't need to be running, with logging enabled on devices in the CDE

    Correct Answer
    A. Note it in the Implementation Statement Details then, upon reviewing your observations with the customer, work with them to mediate the issue
    Explanation
    Payment Card Industry (PCI) Data Security Standard, v3.2 Requirement 1.4, 5, 6.2

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  • 20. 

    The goal of the QIR Program is to educate, qualify and train organizations involved in the implementation, configuration and/or support of a PA-DSS validated payment application on behalf of a merchant or service provider. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    QIR Program Guide, v 3.0 September 2015
    © 2015 PCI Security Standards Council, LLC Page 2

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  • 21. 

    The QIR program aims to assure quality and provide effective feedback among QIRs, their customers, and the PCI SSC. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The explanation for the given correct answer is that the QIR program is designed to ensure quality and facilitate efficient communication and feedback between QIRs (Qualified Integrators and Resellers), their customers, and the PCI SSC (Payment Card Industry Security Standards Council). This program aims to enhance the overall security and compliance of payment card systems by promoting collaboration and accountability among all stakeholders involved. Therefore, the statement that the QIR program aims to assure quality and provide effective feedback among QIRs, their customers, and the PCI SSC is true.

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  • 22. 

    A QIR Company may only sell validated application versions. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    A QIR Company is required to sell only validated application versions. This means that they must ensure that the applications they sell have gone through a validation process to ensure they meet certain standards and requirements. By selling validated application versions, the QIR Company can provide their customers with reliable and secure software that has been tested and approved. This helps to maintain the integrity and security of the payment processing systems used by businesses.

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  • 23. 

     The Implementation Statement Summary is used to provide confirmation and acceptance of the Qualified Installation, along with Customer, QIR Company and Payment Application details. The following information must be included in the QIR Implementation Statement:  

    • Customer’s company name and contact details

    • Name of QIR Company

    • Name and contact details of the Lead QIR

    • PA-DSS validated Payment Application name, version number and reference number as shown on the Website

    Correct Answer(s)
    A. Customer’s company name and contact details
    A. Name of QIR Company
    A. Name and contact details of the Lead QIR
    A. PA-DSS validated Payment Application name, version number and reference number as shown on the Website
    Explanation
    QIR Program Guide, v 3.0 September 2015 © 2015 PCI Security Standards Council, LLC Page 6 ----The Implementation Statement is divided into three (3) parts; Part 1: Implementation Statement Summary, Part 2: Implementation Statement Details and Part 3: QIR Employee Additional Observations.

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  • 24. 

    If the QIR company does not maintain at least one QIR Employee, the QIR Company will be removed from the QIR List and become ineligible to perform new Qualified Installations until the minimum requirements are satisfied. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The QIR Company must notify PCI SSC anytime a QIR Employee leaves employment or moves
    to a non-QIR role.
    QIR Program Guide, v 3.0 September 2015
    © 2015 PCI Security Standards Council, LLC Page 9

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  • 25. 

    PA-DSS requirements apply to application vendors, to develop and maintain secure payment applications. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The Payment Application Data Security Standard (PA-DSS) is a set of requirements that apply to application vendors. These requirements ensure that payment applications are developed and maintained in a secure manner. By adhering to PA-DSS, application vendors can protect sensitive payment card data and prevent potential security breaches. Therefore, the statement "PA-DSS requirements apply to application vendors, to develop and maintain secure payment applications" is true.

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  • 26. 

    In accordance with the PCI DSS Requirement 2.1, the QIR ensures that all vendor-supplied defaults are changed and unnecessary default accounts are removed or disabled, before completing a qualified installation. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    According to PCI DSS Requirement 2.1, the Qualified Integrator and Reseller (QIR) is responsible for changing all vendor-supplied defaults and removing or disabling unnecessary default accounts before completing a qualified installation. This ensures that the system is secure and reduces the risk of unauthorized access or exploitation of default settings. Therefore, the statement "True" is correct.

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  • 27. 

    There does not have to be a firewall on every Internet connection coming into (and out of) the network, and between any DMZ and the internal network. 

    • True

    • False

    Correct Answer
    A. False
    Explanation
    PCI DSS Req. 1.1.4; Guidance - There should be a firewall on every Internet connection coming into (and out of) the network, and between any DMZ and the internal network.

    Payment Card Industry (PCI) Data Security Standard, v3.2, page 21

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  • 28. 

    Firewalls should be installed between the CDE and all wireless access points. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    Requirement 1.2.3 Guidance: "The known (or unknown) implementation and exploitation of wireless technology within a network is a common path for malicious individuals to gain access to the network and cardholder data. If a wireless device or network is installed without the entity's knowledge, a malicious individual could easily and "invisibly" enter the network. If firewalls do not restrict access from wireless networks into the CDE, malicious individuals that gain unauthorized access to the wireless network can easily connect to the CDE and compromise account information. - Firewalls must be installed between all wireless networks and the CDE, regardless of the purpose of the environment to which the wireless network is connected. This may include, but is not limited to, corporate networks, retail stores, guest networks, warehouse environments, etc." ------
    Payment Card Industry (PCI) Data Security Standard, v3.2 Page 24
    © 2006-2016 PCI Security Standards Council, LLC. All Rights Reserved. April 2016

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  • 29. 

    PA-DSS defines the specific technical requirements and provides related assessment procedures and templates used to validate payment applications and document the validation process. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    QIR Program Guide, v 3.0 September 2015
    © 2015 PCI Security Standards Council, LLC Page 1

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  • 30. 

    What are the Implementation Statement sections (select all that apply)?

    • Statement Summary

    • QIR Employee Observations

    • Statement Details

    • PCI DSS

    Correct Answer(s)
    A. Statement Summary
    A. QIR Employee Observations
    A. Statement Details
    Explanation
    The correct answer is Statement Summary, QIR Employee Observations, and Statement Details. These are the sections that make up the Implementation Statement. The Statement Summary provides a brief overview of the implementation, the QIR Employee Observations section includes observations made by Qualified Security Assessors, and the Statement Details section provides more detailed information about the implementation.

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  • 31. 

    Prior to the Qualified Installation, the customer should be provided with the following (select all that apply):

    • Lead QIR name

    • Estimate of work to be performed

    • Expected duration of the work

    • Notice of any potential downtime

    Correct Answer(s)
    A. Lead QIR name
    A. Estimate of work to be performed
    A. Expected duration of the work
    A. Notice of any potential downtime
  • 32. 

    Name the two types of validated Payment Applications:

    • Not acceptable for deployment

    • Acceptable for new deployment

    • Not acceptable for pre-existing deployments

    • Acceptable for pre-existing deployments

    Correct Answer(s)
    A. Acceptable for new deployment
    A. Acceptable for pre-existing deployments
    Explanation
    The two types of validated Payment Applications are "Acceptable for new deployment" and "Acceptable for pre-existing deployments". This means that both types of applications have been tested and approved for use, whether it is for new installations or for existing systems. It implies that these applications meet the necessary security and compliance requirements for processing payments, regardless of the deployment scenario.

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  • 33. 

    If there are a number of QIR Employees leading Qualified Installations, each Lead QIR must produce his or her own Implementation Statement(s) for the installations he or she was responsible for. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    QIR Implementation Instructions Part 1, page 5

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  • 34. 

    QIR Qualification Requirements define requirements that must be satisfied by QIR Companies, in order to perform Qualified Installations.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    QIR Program Guide, v 3.0 September 2015
    © 2015 PCI Security Standards Council, LLC Page 1

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  • 35. 

    QIR Implementation Instructions is a guidance document used to explain how to complete the QIR Implementation Statement. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    QIR Program Guide, v 3.0 September 2015
    © 2015 PCI Security Standards Council, LLC Page 1

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  • 36. 

    The Lead QIR Employee is required to sign the _______________ affirming the findings surrounding the qualified installation documented therein. 

    • Implementation Statement

    • Attestation of Compliance

    • SAQ-D

    • QIR Feedback form

    Correct Answer
    A. Implementation Statement
    Explanation
    The Lead QIR Employee is required to sign the Implementation Statement affirming the findings surrounding the qualified installation documented therein. The Implementation Statement serves as a confirmation that the installation has been carried out according to the required standards and guidelines. It ensures that the Lead QIR Employee takes responsibility for the accuracy and completeness of the installation documentation. By signing the Implementation Statement, the employee acknowledges and affirms the findings of the qualified installation.

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  • 37. 

    It is best practice to require passwords have a minimum length requirement of at least 7 characters, contain both numeric and alphabetic characters and to be changed at least once every 90 days

    • True

    • False

    Correct Answer
    A. True
    Explanation
    Payment Card Industry (PCI) Data Security Standard, v3.2 Requirement 8.2.3, 8.2.4

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  • 38. 

    Core responsibilities as a QIR include (select all that apply)

    • Install payment applications in a manner which supports the customer's PCI DSS compliance using the PA-DSS Implementation Guide

    • Document for the customer any potential risks to PCI DSS compliance

    • Explain any changes made to the customer's system(s) and any potential risks to the customer

    • Provide a Feedback Form to the customer

    • Support PCI Forensic Investigator (PFI) investigations in the event of a breach

    Correct Answer(s)
    A. Install payment applications in a manner which supports the customer's PCI DSS compliance using the PA-DSS Implementation Guide
    A. Document for the customer any potential risks to PCI DSS compliance
    A. Explain any changes made to the customer's system(s) and any potential risks to the customer
    A. Provide a Feedback Form to the customer
    A. Support PCI Forensic Investigator (PFI) investigations in the event of a breach
    Explanation
    The core responsibilities of a QIR include installing payment applications in a manner that ensures the customer's compliance with PCI DSS using the PA-DSS Implementation Guide. They are also responsible for documenting any potential risks to the customer's PCI DSS compliance, explaining any changes made to the customer's system(s) and the associated risks, providing a Feedback Form to the customer, and supporting PCI Forensic Investigator (PFI) investigations in the event of a breach.

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  • 39. 

    PCI DSS requirements do not apply to systems that provide security services or could impact the security of account data. 

    • True

    • False

    Correct Answer
    A. False
    Explanation
    The statement is false because PCI DSS requirements do apply to systems that provide security services or could impact the security of account data. The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to protect cardholder data and ensure the secure handling of credit card information. These requirements apply to all organizations that store, process, or transmit cardholder data, including systems that provide security services or have the potential to impact the security of account data. Therefore, the statement that PCI DSS requirements do not apply to such systems is incorrect.

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  • 40. 

    One of the requirements of a QIR Company is that they must be either the direct provider of a PA-DSS validated Payment Application or a completely independent third party licensed or otherwise authorized by a PA-DSS validated Payment Application vendor to implement that Payment Application into the merchant or service provider environment. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    PCI SSC QIR Qualification Requirements 3.1.1 page 4

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  • 41. 

    There is a difference between cardholder data and sensitive authentication data.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    True, SAD is not stored post-authorization.

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  • 42. 

    Records observations or details that the customer should be aware of. 

    • QIR Employee Additional Observations

    • Implementation Statement Summary

    • PCI DSS QIR Website Listing

    • Implementation Statement Details

    Correct Answer
    A. QIR Employee Additional Observations
    Explanation
    The correct answer is "QIR Employee Additional Observations". This option suggests that the employee records observations or details that the customer should be aware of. This could include any additional information or notes that the employee wants to communicate to the customer regarding the implementation statement or the PCI DSS QIR website listing.

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  • 43. 

    The QIR Company must at all times employee at least ___ QIR Employee(s)

    • 5

    • 3

    • 2

    • 1

    Correct Answer
    A. 1
    Explanation
    The QIR Company is required to have at least one QIR employee at all times. This implies that the company must have at least one qualified individual who can perform the necessary tasks and responsibilities associated with being a QIR employee. Having at least one QIR employee ensures that the company can effectively and efficiently carry out its duties and obligations in accordance with the relevant regulations and standards.

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  • 44. 

    Which of the following is an example of a secure network protocol? 

    • Telnet

    • IMAP

    • FTP

    • SSH

    Correct Answer
    A. SSH
    Explanation
    SSH (Secure Shell) is an example of a secure network protocol. It provides a secure way to access and manage remote systems over an unsecured network. SSH ensures secure communication by encrypting data and authenticating the parties involved. It is widely used for remote administration, file transfers, and tunneling services securely. Telnet, IMAP, and FTP, on the other hand, are not secure protocols as they transmit data in plain text, making it susceptible to eavesdropping and unauthorized access.

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  • 45. 

    A trusted network is the network of an organization that is within the organization's ability to control or manage. 

    • True

    • False

    Correct Answer
    A. True
    Explanation
    A trusted network refers to a network that is under the control and management of an organization. This means that the organization has the authority to set up security measures, monitor network activities, and enforce policies within this network. It implies that the organization has a level of confidence in the security and reliability of this network as it is within their ability to oversee and manage it. Therefore, the statement "A trusted network is the network of an organization that is within the organization's ability to control or manage" is true.

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  • 46. 

    Who is responsible for a Merchant's PCI Compliance?

    • QIR

    • QSA

    • Firewall Provider

    • Merchant

    Correct Answer
    A. Merchant
    Explanation
    The correct answer is Merchant. The responsibility for a Merchant's PCI Compliance lies with the Merchant themselves. It is the Merchant's responsibility to ensure that they comply with the Payment Card Industry Data Security Standard (PCI DSS) requirements in order to protect cardholder data. This includes implementing and maintaining secure systems and processes, conducting regular security assessments, and adhering to the guidelines set forth by the PCI Security Standards Council. The other options listed, QIR, QSA, and Firewall Provider, may play a role in assisting the Merchant with their PCI Compliance efforts, but ultimately the responsibility lies with the Merchant.

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  • 47. 

    PAN should be rendered unreadable anywhere it's stored.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The statement is suggesting that PAN (Primary Account Number) should be made unreadable in any location where it is stored. This is true because PAN is a sensitive piece of information that is used to identify and authenticate credit card transactions. Storing it in a readable format increases the risk of unauthorized access and potential misuse. By rendering PAN unreadable, it adds an extra layer of security to protect the cardholder's information.

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  • 48. 

    Which of the following is not true of acquirers? 

    • Also called Visa and/or Mastercard

    • Provide authorization, clearing and settlement services to merchants

    • Bank or entity the merchant uses to process their payment card transactions

    • Also called Merchant Bank

    Correct Answer
    A. Also called Visa and/or Mastercard
    Explanation
    Acquirers are not called Visa and/or Mastercard. Acquirers are the banks or entities that provide authorization, clearing, and settlement services to merchants. They are also known as the merchant bank, as they are the bank or entity that the merchant uses to process their payment card transactions. However, Visa and Mastercard are payment networks that facilitate the transfer of funds between the acquirer and the issuer (the cardholder's bank).

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  • 49. 

    How often does each validated payment application undergo attestation, until the Expiry Date is reached?

    • Annually

    • Every 2 years

    • Every 3 years

    • Quarterly

    Correct Answer
    A. Annually
    Explanation
    Each validated payment application undergoes attestation on a yearly basis until the Expiry Date is reached. This means that the application is reviewed and verified for compliance and security measures once every year. This regular attestation ensures that the payment application remains up to date and meets the necessary standards throughout its lifespan.

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Quiz Review Timeline (Updated): Mar 8, 2024 +

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  • Current Version
  • Mar 08, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • Sep 08, 2016
    Quiz Created by
    Abilene
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