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Exercise 1 Fintech

Total questions: 19

Worksheet time: 10mins

Name
Class
Date
1.

Which of these is not a Payment Token?

a)

Wallet

b)

USSD

c)

Bank Account

d)

Payment Card

2.

___ is an asset account that records what the bank expects from external parties.

a)

Virtual

b)

Payable

c)

Suspense

d)

Receivable

3.

Settlements in Fintech are only applied to?

a)

Lending

b)

Investments

c)

Successful transactions

4.

If a payment is not —---, it cannot be successful

a)

Pushed

b)

Authorized

c)

Pull

5.

The highest member status in the Payment Card Network Hierarchy is called?

a)

A TPP

b)

Affiliate

c)

Principal

6.

A Payment Token + A Payment Channel + A Financial Institution is =?

a)

Payment Gateway

b)

Payment Method

7.

Which of the following is not part of the 4-party model in Fintech?

a)

Issuer

b)

Cardholder

c)

Merchant

d)

Payment Gateway

e)

Acquirer

8.

____processes the payments and ensures the money is transferred from the cardholder’s bank account to the bank account of the Merchant.

a)

Issuer

b)

Acquirer

9.

A Payment card is administered for use throughout its lifecycle using a____

a)

Card Management System

b)

Core Banking System

10.

In Fintech, ____ usually has a terminal and supports 1 or more Payment methods.

a)

Issuer

b)

Acquirer

c)

Merchants

d)

Payment Gateways

11.

The payment token is from the________

a)

Acquirer

b)

Issuer

12.

Which of these payment accounts is tied to Terminals to record the flow of money through them?

a)

Payable Account

b)

Virtual Accounts

c)

Settlement Accounts

d)

Till Accounts

e)

Receivable Accounts

13.

____ is the service provider that accepts cardholder's payments and assumes liability for processing these payments on the merchant's behalf. This service provider in many cases appears on a cardholder's receipt.

a)

PayFac

b)

Independent Sales Organisations

c)

Merchants of Record

14.

____is the latest version of the universal financial industry message scheme for payment protocols?

a)

ISO20022

b)

ISO8583

15.

____is the global organization that maintains and promotes payment card industry standards for safeguarding cardholder data across the globe.

a)

EMV

b)

ISO

c)

PADSS

d)

PCI DSS

16.

Which of these identifiers CANNOT be found on a physical card?

a)

PAN

b)

MM/YY

c)

MII

d)

P2P

17.

Which of these Licenses is now bundled with the switching license in Nigeria?

a)

PSSP

b)

PTSP

c)

MMO

18.

_____is an architectural style that structures an application as a collection of highly maintainable services, testable, loosely coupled, independently deployable, and organized around Fintech business capabilities.

a)

API protocol

b)

Microservices

c)

ISO Messaging

19.

_______ is the fee card networks charge consumer banks for issuing cards?

a)

The Swipe Tax

b)

Interchange

c)

Interbank Levy

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