Module 5 Intro To Chargebacks Overview

1. You can automatically chargeback a Pay at the Pump (5542) as fraud?

True

False

You cannot chargeback a transaction under $25.00 and/or a participating merchant.

Explanation

You cannot chargeback a transaction under $25.00 and/or a participating merchant.

2. How long does the acquirer (Merchant) have to represent on a chargeback?

10 Days

20 Days

45 Days

90 Days

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.

Explanation

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.

3. For a transaction that is card present '90' you should order sales slips for fraud transactions?

True

False

Mastercard does not require a sales slip to be ordered.

Explanation

Mastercard does not require a sales slip to be ordered.

4. All transactions that are E-Commerce '81' can be charged back as fraud?

True

False

You cannot chargeback an E-Commerce '81' transaction that has UCAF indicator of '2' and '3'.

Explanation

You cannot chargeback an E-Commerce '81' transaction that has UCAF indicator of '2' and '3'.

5. What card status should be in place prior to a fraud chargeback?

L

C

S

U

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.

Explanation

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.

6. If case total is $1,000.00 or greater, an Investigative Referral should be completed?

True

False

Only write off total of $1,000.00 or greater requires an Investigative Referral.

Explanation

Only write off total of $1,000.00 or greater requires an Investigative Referral.

7. Select all other reasons an Investigative Referral would be required.

Confirmed Identity Theft

$25,000.00 Case Total

Suspect Identified - Full Name

HNB Employee

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.

Explanation

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.

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