Module 5 Intro To Chargebacks Overview
.png "Module 5 Intro To Chargebacks Overview - Quiz")
Questions and Answers
- 1.
You can automatically chargeback a Pay at the Pump (5542) as fraud?
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
You cannot chargeback a transaction under $25.00 and/or a participating merchant.Rate this question:
-
- 2.
For a transaction that is card present '90' you should order sales slips for fraud transactions?
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
Mastercard does not require a sales slip to be ordered.Rate this question:
-
- 3.
What card status should be in place prior to a fraud chargeback?
- A.
L
- B.
C
- C.
S
- D.
U
Correct Answer
D. UExplanation
The correct answer is "U". In the context of a fraud chargeback, "U" refers to the status of "Unauthorized." This means that the cardholder did not authorize or participate in the fraudulent transaction. Prior to a fraud chargeback, it is necessary to establish that the transaction was unauthorized in order to initiate the process of reversing the charge and refunding the cardholder.Rate this question:
-
- 4.
All transactions that are E-Commerce '81' can be charged back as fraud?
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
You cannot chargeback an E-Commerce '81' transaction that has UCAF indicator of '2' and '3'.Rate this question:
-
- 5.
Define: Chargeback
- 6.
If case total is $1,000.00 or greater, an Investigative Referral should be completed?
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
Only write off total of $1,000.00 or greater requires an Investigative Referral.Rate this question:
-
- 7.
Select all other reasons an Investigative Referral would be required.
- A.
Confirmed Identity Theft
- B.
$25,000.00 Case Total
- C.
Suspect Identified - Full Name
- D.
HNB Employee
Correct Answer(s)
A. Confirmed Identity Theft
B. $25,000.00 Case Total
C. Suspect Identified - Full NameExplanation
An Investigative Referral would be required in cases of confirmed identity theft, where someone's personal information has been stolen and used without their consent. It would also be necessary when the case involves a significant amount of money, such as the $25,000.00 mentioned. Additionally, if the suspect's full name has been identified, it would be important to refer the case for further investigation. The fact that the suspect is an HNB employee may also be a relevant factor in determining the need for an Investigative Referral, as it could suggest an internal breach or involvement.Rate this question:
-
- 8.
How long does the acquirer (Merchant) have to represent on a chargeback?
- A.
10 Days
- B.
20 Days
- C.
45 Days
- D.
90 Days
Correct Answer
C. 45 DaysExplanation
The acquirer (merchant) has 45 days to represent on a chargeback. This means that if a chargeback is initiated by a customer, the merchant has 45 days to provide evidence or documentation to dispute the chargeback and prove that the transaction was legitimate. This time frame allows the merchant to gather necessary information and present their case before a final decision is made on the chargeback.Rate this question:
-
Quiz Review Timeline +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
-
Current Version
-
Mar 20, 2023Quiz Edited by
ProProfs Editorial Team -
Feb 12, 2013Quiz Created by
RobynKemp
- Academic Quizzes
- Adult Learning Quizzes
- Blended Learning Quizzes
- Coaching Quizzes
- College Quizzes
- Communication Quizzes
- Curriculum Quizzes
- Distance Learning Quizzes
- E Learning Quizzes
- Early Childhood Education Quizzes
- GCSE Quizzes
- Graduation Quizzes
- Kindergarten Quizzes
- Knowledge Quizzes
- Literacy Quizzes
- Physical Education Quizzes
- Qualification Quizzes
- Religious Education Quizzes
- School Quizzes
- Special Education Quizzes
- Student Quizzes
- Study Quizzes
- Subject Quizzes
- Teaching Quizzes
- Theory Quizzes
- Thesis Quizzes
- University Quizzes
Back to top