Question 1

Visa and MasterCard are _____ that are operated by the banks which issue credit cards to individual customers.

Accepted Answer

credit card associations

Question 2

Payment cards with disposable numbers are known as _____.

Accepted Answer

A)  charge cards 
B)  single-use cards 
C)  credit cards 
D)  store-branded cards 
A)  charge cards 
B)  single-use cards 
C)  credit cards 
D)  store-branded cards B

Question 3

What is the difference between a credit card and a charge card?

Accepted Answer

A credit card, such as Visa or a MasterCard, has a spending limit based on the user's credit history.A user can pay off the entire credit card balance or pay a minimum amount each billing period.Credit card issuers charge interest on any unpaid balance.A charge card, offered by companies such as American Express, carries no spending limit, and the entire amount charged to the card is due at the end of the billing period.Charge cards do not involve lines of credit and do not accumulate interest charges.

Question 4

Payment card service companies charge merchants per-transaction fees and monthly processing fees for processing payments.

Accepted Answer

A) True 
 B)False

Question 5

Credit card issuers charge interest on any unpaid balance.

Accepted Answer

A) True 
 B)False

Question 6

A credit card____________.

Accepted Answer

A)  has no spending limit. 
B)  has no interest charged on unpaid balances. 
C)  is the same as a debit card. 
D)  protects the consumer with an automatic 30-day dispute period. 
A)  has no spending limit. 
B)  has no interest charged on unpaid balances. 
C)  is the same as a debit card. 
D)  protects the consumer with an automatic 30-day dispute period.

Question 7

In phishing, the collection of information is done by _____.

Accepted Answer

The answer of In phishing, the collection of information is...

Question 8

A front-end processor handles chargebacks and any other reconciliation items through the interchange network and the acquiring and issuing banks.

Accepted Answer

A) True 
 B)False

Question 9

U.S.laws define _____, as unlawful activities conducted by a highly organized, disciplined association for profit.

Accepted Answer

racketeeri

Question 10

Store-value cards are safer than magnetic strip credit cards because the information stored on a Store-value card can be encrypted.

Accepted Answer

A) True 
 B)False

Question 11

_____ are created when a hacker plants zombie programs on a large number of computers.

Accepted Answer

The answer of _____ are created when a hacker plants...

Question 12

In the context of fees deducted by acquiring banks, _____ are charged at rates which depend on the merchant's industry.

Accepted Answer

A)  acquirer fees 
B)  interchange fees 
C)  chargeback fees 
D)  interest fees 
A)  acquirer fees 
B)  interchange fees 
C)  chargeback fees 
D)  interest fees

Question 13

What are the disadvantages of using paper checks?

Accepted Answer

The cost of transporting tons of paper c

Question 14

When a bank buys accounts from another bank, it performs a series of procedures called _____, which include checking the new customers' credit histories and banking records.

Accepted Answer

The answer of When a bank buys accounts from another...

Question 15

_____ is spending a particular piece of digital cash twice by submitting the same electronic currency to two different vendors.

Accepted Answer

A)  Double spending 
B)  Blind signing 
C)  Money laundering 
D)  Spear phishing 
A)  Double spending 
B)  Blind signing 
C)  Money laundering 
D)  Spear phishing

Question 16

American Express and Discover Card are examples of open loop systems.

Accepted Answer

A) True 
 B)False

Question 17

Digital cash ought to be anonymous, just as currency is.

Accepted Answer

A) True 
 B)False

Question 18

_____ are also called "electronic funds transfer at point of sale cards," especially outside the United States.

Accepted Answer

A)  Debit cards 
B)  Credit cards 
C)  Gift cards 
D)  Prepaid cards 
A)  Debit cards 
B)  Credit cards 
C)  Gift cards 
D)  Prepaid cards

Question 19

For merchants, payment cards provide fraud protection.

Accepted Answer

A) True 
 B)False

Question 20

A _____, offered by companies such as American Express, carries no spending limit, and the entire amount billed to the card is due at the end of the billing period.

Accepted Answer

A)  credit card 
B)  charge card 
C)  debit card 
D)  smart card 
A)  credit card 
B)  charge card 
C)  debit card 
D)  smart card

Visa and MasterCard are _____ that are operated by the banks which issue credit cards to individual customers.

Payment cards with disposable numbers are known as _____.

What is the difference between a credit card and a charge card?

Payment card service companies charge merchants per-transaction fees and monthly processing fees for processing payments.

Credit card issuers charge interest on any unpaid balance.

A credit card____________.

In phishing, the collection of information is done by _____.

A front-end processor handles chargebacks and any other reconciliation items through the interchange network and the acquiring and issuing banks.

U.S.laws define _____, as unlawful activities conducted by a highly organized, disciplined association for profit.

Store-value cards are safer than magnetic strip credit cards because the information stored on a Store-value card can be encrypted.

_____ are created when a hacker plants zombie programs on a large number of computers.

In the context of fees deducted by acquiring banks, _____ are charged at rates which depend on the merchant's industry.

What are the disadvantages of using paper checks?

When a bank buys accounts from another bank, it performs a series of procedures called _____, which include checking the new customers' credit histories and banking records.

_____ is spending a particular piece of digital cash twice by submitting the same electronic currency to two different vendors.

American Express and Discover Card are examples of open loop systems.

Digital cash ought to be anonymous, just as currency is.

_____ are also called "electronic funds transfer at point of sale cards," especially outside the United States.

For merchants, payment cards provide fraud protection.

A _____, offered by companies such as American Express, carries no spending limit, and the entire amount billed to the card is due at the end of the billing period.

Introduction to Electronic Commerce

Technology Infrastructure: the Internet and the World Wide Web

Selling on the Web

Marketing on the Web

Business-To-Business Activities: Improving Efficiency and Reducing Costs

Social Networking, Mobile Commerce, and Online Auctions

The Environment of Electronic Commerce: Legal, Ethical, and Tax Issues

Web Server Hardware and Software

Electronic Commerce Software

Electronic Commerce Security

Managing Electronic Commerce Implementations

Filters

Exam 11: Payment Systems for Electronic Commerce

Visa and MasterCard are _____ that are operated by the banks which issue credit cards to individual customers.

Payment cards with disposable numbers are known as _____.

What is the difference between a credit card and a charge card?

Payment card service companies charge merchants per-transaction fees and monthly processing fees for processing payments.

Credit card issuers charge interest on any unpaid balance.

A credit card____________.

In phishing, the collection of information is done by _____.

A front-end processor handles chargebacks and any other reconciliation items through the interchange network and the acquiring and issuing banks.

U.S.laws define _____, as unlawful activities conducted by a highly organized, disciplined association for profit.

Store-value cards are safer than magnetic strip credit cards because the information stored on a Store-value card can be encrypted.

_____ are created when a hacker plants zombie programs on a large number of computers.

In the context of fees deducted by acquiring banks, _____ are charged at rates which depend on the merchant's industry.

What are the disadvantages of using paper checks?

When a bank buys accounts from another bank, it performs a series of procedures called _____, which include checking the new customers' credit histories and banking records.

_____ is spending a particular piece of digital cash twice by submitting the same electronic currency to two different vendors.

American Express and Discover Card are examples of open loop systems.

Digital cash ought to be anonymous, just as currency is.

_____ are also called "electronic funds transfer at point of sale cards," especially outside the United States.

For merchants, payment cards provide fraud protection.

A _____, offered by companies such as American Express, carries no spending limit, and the entire amount billed to the card is due at the end of the billing period.

Introduction to Electronic Commerce

Technology Infrastructure: the Internet and the World Wide Web

Selling on the Web

Marketing on the Web

Business-To-Business Activities: Improving Efficiency and Reducing Costs

Social Networking, Mobile Commerce, and Online Auctions

The Environment of Electronic Commerce: Legal, Ethical, and Tax Issues

Web Server Hardware and Software

Electronic Commerce Software

Electronic Commerce Security

Managing Electronic Commerce Implementations

Filters