1.
Who can you email a merchant's statement to?
Correct Answer
C. The Merchant & The Agent
Explanation
The correct answer is "The Merchant & The Agent." When emailing a merchant's statement, it is important to send it to both the merchant and the agent. The merchant needs to review the statement to ensure accuracy and reconcile any discrepancies, while the agent needs to have a copy for record-keeping purposes and to provide support if any issues arise. By sending the statement to both parties, it ensures that all relevant individuals have access to the information and can take appropriate actions as needed.
2.
True or False, a customer service representative can resend a cancellation letter to a merchant.
Correct Answer
A. True
Explanation
A customer service representative can resend a cancellation letter to a merchant because they have the authority and access to the necessary resources to perform this task. They can retrieve the original cancellation letter, make any necessary edits or updates, and send it again to the merchant. This allows for effective communication and ensures that the cancellation request is properly received and processed by the merchant.
3.
What needs to be included in TMS notes? (check all that apply)
Correct Answer(s)
A. Who called
B. Why they called
D. The advice you provided
E. How the call was resolved
F. Any necessary follow up needed
Explanation
The TMS notes should include information about who called, why they called, the advice provided, how the call was resolved, and any necessary follow-up needed. Including these details in the notes helps to maintain a record of the communication, provide a reference for future interactions, and ensure that any necessary actions are taken.
4.
If a caller requests a supervisor, you must do the following:
Correct Answer
C. Give an additional offer of assistance to resolve the issue, if the merchant declines, transfer the call to an available supervisor
Explanation
If a caller requests a supervisor, the correct action to take is to give an additional offer of assistance to resolve the issue. This shows that you are willing to help and provides an opportunity to address the caller's concerns directly. However, if the merchant declines the offer, it is appropriate to transfer the call to an available supervisor who can further assist the caller. This ensures that the caller's request for a supervisor is properly addressed and that they receive the necessary support.
5.
True or False, we need 6 months of processing before we can switch a merchant's discount frequency
Correct Answer
B. False
Explanation
The statement is false because we do not need 6 months of processing before we can switch a merchant's discount frequency. The actual processing time may vary depending on the specific circumstances and requirements, but it is not a fixed duration of 6 months.
6.
What is the term for funds that are being held because of the following: The bank account is closed or is unable to be located.
Correct Answer
A. Good Money
Explanation
Good Money refers to funds that are being held because the bank account is closed or unable to be located. This term implies that the funds are legitimate and should be returned to the rightful owner once the account is reopened or located. It suggests that the funds are not associated with any collections or risk issues, but rather a temporary situation related to the bank account.
7.
What is a NACHA Block?
Correct Answer
C. When funds are returned by the receiving bank due to a stop or hold placed on the account.
Explanation
A NACHA Block refers to a situation where funds are returned by the receiving bank due to a stop or hold placed on the account. This means that the bank has decided to prevent any further transactions on the account, either temporarily or permanently, due to certain reasons such as suspicious activity, fraud, or legal issues. The funds are held back to ensure that any potential issues are resolved before allowing further transactions.
8.
What is the SLA to update the discount frequency of a global account?
Correct Answer
B. 24-48 hours
Explanation
The SLA (Service Level Agreement) to update the discount frequency of a global account is 24-48 hours. This means that once a request is made to update the discount frequency, it should be completed within this time frame.