Processing Payments Part 2
Continue answering questions on Processing Payments part 2.
Questions and Answers
- 1.
It is used to identify the account that the payment should post to and it has no cash value.
- A.
Pre-Cash
- B.
APC
- C.
APS
- D.
Moneygram
Correct Answer
A. Pre-CashExplanation
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.Rate this question:
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- 2.
Global Express payments posting timeframe
- A.
36 to 72 hours
- B.
48 to 72 hours
- C.
2 to 4 hours
Correct Answer
B. 48 to 72 hoursExplanation
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.Rate this question:
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- 3.
Sprint Online payment posting timeframe
- A.
2 hours
- B.
48 hours
- C.
4 hours
- D.
36 hours
Correct Answer
C. 4 hoursExplanation
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.Rate this question:
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- 4.
What is typically required to process a credit card payment online?
- A.
Cardholder's name and address
- B.
Card number, expiration date, and CVV
- C.
Card issuer's phone number
- D.
Cardholder's favorite color
Correct Answer
D. Cardholder's favorite colorExplanation
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.Rate this question:
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- 5.
APC payment is for free and it accepts payment made by check, credit card, debit card and cash.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
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.Rate this question:
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- 6.
Mail in payment accepts the following:
- A.
Check, credit or debit cards
- B.
Check, credit or debit card and cash
- C.
Cash and money order
Correct Answer
A. Check, credit or debit cardsExplanation
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.Rate this question:
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- 7.
Posting timeframe for overnight mail is
- A.
5 to 6 business days
- B.
2 to 3 business days
- C.
10 to 14 days
- D.
2 to 3 calendar days
Correct Answer
D. 2 to 3 calendar daysExplanation
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.Rate this question:
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- 8.
Maximum pre-cash payment is
- A.
$99
- B.
$9999
- C.
$999
Correct Answer
C. $999Explanation
The maximum pre-cash payment is $999 because it is the highest amount listed among the options.Rate this question:
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- 9.
You can use the pre-cash card in any sprint retail store.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
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.Rate this question:
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- 10.
Transaction fee for pre-cash payment is
- A.
$5 to $10
- B.
$1 to $5
- C.
$0 to $5
Correct Answer
C. $0 to $5Explanation
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.Rate this question:
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Current Version
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Jul 05, 2024Quiz Edited by
ProProfs Editorial Team -
Jan 21, 2009Quiz Created by
Eydie
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