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Ask the expert: Industry knowledge

Authored by Lior Sarraf Manole

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Professional Development

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Ask the expert: Industry knowledge
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17 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Who are the major card brands?

VISA, Stripe, Mastercard, Square 

VISA, Mastercard, American Express, Discover 

Mastercard, JPMC, JCB, Adyen 

American Express, VISA, Revolut, Wells Fargo 

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is true about an issuer? 

Responsible for the cardholder 

Must ensure the cardholder performs only legal transactions

Must maintain the cardholder account in a compliant way 

All of the above 

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is true about an Acquirer?

Provides merchant accounts 

Responsible for merchant compliance with relevant laws 

Not associated with the credit card schemes 

A and B 

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Who does a cardholder directly pay when making a credit card transaction with a merchant? 

The merchant 

The merchant’s acquiring bank 

The cardholder’s issuing bank 

The card scheme 

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following are “additional players” in the payments flow? 

Gateways 

Payment service providers (PSP) 

Alternative payment methods 

Mobile payments 

All of the above 

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What is the Risk based approach?

A means to identify, assess and understand money laundering and terror financing risk. 

A movie featuring Tom Cruise where he plays the role of a compliance analyst 

A transaction monitoring protocol which assists banks in identifying risk 

Something only applicable to banks 

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does FATF stand for? 

Financial Action Task Force 

Financial Action Terminology Framework 

Financial Articles Task Force 

Financial Anti-terror Task Force 

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