Processing Payments Part 2

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| By Eydie
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Eydie
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Quizzes Created: 6 | Total Attempts: 4,259
| Attempts: 231
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  • 1/10 Questions

    Maximum pre-cash payment is

    • $99
    • $9999
    • $999
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About This Quiz

This quiz focuses on the specifics of processing various types of payments, including identification requirements, payment posting timeframes, and accepted payment methods.

Finance Quizzes & Trivia

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  • 2. 

    Global Express payments posting timeframe 

    • 36 to 72 hours

    • 48 to 72 hours

    • 2 to 4 hours

    Correct Answer
    A. 48 to 72 hours
    Explanation
    The correct answer is 48 to 72 hours. This means that it takes between 48 to 72 hours for Global Express payments to be posted.

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  • 3. 

    Transaction fee for pre-cash payment is

    • $5 to $10

    • $1 to $5

    • $0 to $5

    Correct Answer
    A. $0 to $5
    Explanation
    The transaction fee for pre-cash payment can vary between $0 to $5. This means that when making a payment without using cash, the fee charged can range from nothing up to a maximum of $5. The exact amount of the fee will depend on the specific payment method or platform being used. It is important to consider this fee when choosing how to make a payment, as it can affect the overall cost of the transaction.

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  • 4. 

    Sprint Online payment posting timeframe

    • 2 hours

    • 48 hours

    • 4 hours

    • 36 hours

    Correct Answer
    A. 4 hours
    Explanation
    The correct answer is 4 hours. This means that the online payment posting timeframe for Sprint is 4 hours. This implies that after making an online payment, it should take approximately 4 hours for the payment to be processed and reflected in the recipient's account.

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  • 5. 

    Posting timeframe for overnight mail is

    • 5 to 6 business days

    • 2 to 3 business days

    • 10 to 14 days

    • 2 to 3 calendar days

    Correct Answer
    A. 2 to 3 calendar days
    Explanation
    The correct answer is 2 to 3 calendar days. This means that if you send your mail overnight, it should be delivered within 2 to 3 days, including weekends and holidays. It is important to note that this timeframe is specifically for overnight mail, which is a faster and more expedited service compared to regular mail.

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  • 6. 

    It is used to identify the account that the payment should post to and it has no cash value.

    • Pre-Cash

    • APC

    • APS

    • Moneygram

    Correct Answer
    A. Pre-Cash
    Explanation
    The term "Pre-Cash" is used to identify the account that a payment should be posted to. It does not have any cash value itself, but serves as a way to allocate the payment to the correct account. This term is likely used in financial or accounting contexts to track and record payments accurately.

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  • 7. 

    You can use the pre-cash card in any sprint retail store.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    The statement suggests that the pre-cash card can be used in any Sprint retail store. However, the correct answer is false, indicating that the pre-cash card cannot be used in any Sprint retail store.

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  • 8. 

    What is typically required to process a credit card payment online?

    • Cardholder's name and address

    • Card number, expiration date, and CVV

    • Card issuer's phone number

    • Cardholder's favorite color

    Correct Answer
    A. Cardholder's favorite color
    Explanation
    To process a credit card payment online, the card number, expiration date (MM/YY), and CVV (Card Verification Value) are required. Option A (cardholder's name and address) is sometimes used for verification purposes, but the essential information for processing the payment securely is the card number, expiration date, and CVV.

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  • 9. 

    Mail in payment accepts the following:

    • Check, credit or debit cards

    • Check, credit or debit card and cash

    • Cash and money order

    Correct Answer
    A. Check, credit or debit cards
    Explanation
    The given answer states that mail-in payment accepts check, credit, or debit cards. This means that customers have the option to pay using any of these methods when making a payment through mail. It does not specify whether all three options are accepted together or if customers can choose any one of them. However, it clearly indicates that these are the accepted forms of payment for mail-in transactions.

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  • 10. 

    APC payment is for free and it accepts payment made by check, credit card, debit card and cash.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The given statement is true because it states that APC payment is free and accepts payment made by check, credit card, debit card, and cash. This means that customers can choose any of these payment methods without incurring any additional charges.

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Quiz Review Timeline (Updated): Jul 5, 2024 +

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

  • Current Version
  • Jul 05, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • Jan 21, 2009
    Quiz Created by
    Eydie
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