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WorksheetsChapter 5: E-Commerce Security & Payment System
Total questions: 18
Worksheet time: 9mins
According to the slide, which statement best defines a credit card?
A prepaid plastic card that must be loaded with funds before use
A small plastic card that is part of a payments system where the issuer grants a line of credit to the consumer
A bank account card that directly withdraws money from the user’s checking account
A card that requires the balance to be paid in full each month
Fill in the blank: A credit card differs from a _______ card because it allows consumers to revolve their balance, though they will be charged interest.
charge
debit
gift
prepaid
What is an E-Wallet?
A physical card used for ATM withdrawals
A system that stores a customer's data for easy retrieval for online purchases
An online store that sells electronic goods
A bank account that earns interest automatically
Fill in the blank based on the content: Since completing forms as part of an _______ transaction can be a reason for aborting a transaction, an e-Wallet service can reduce this inconvenience for the consumer.
e-tail
retail
wholesale
offline
According to the content, E-Cash is a computer generated system that allows items to be purchased using which of the following methods while providing secure online transactions and processing?
Cryptocurrency only
Credit card, check, or money order
Cash on delivery only
Bank transfer only
Fill in the blank: E-Cash provides access to ______, secure and reliable, real-time payment processing worldwide.
rapid
limited
delayed
manual
According to the ECash Internet Payment Processing Workflow, what is the first step in the process?
ECash routes the authorization request through the payment processor
Customer places order at Merchant’s web site
Merchant transfers a settlement request to the issuing bank
The card system contacts the issuing bank for authorization
Fill in the blank with the exact term from the workflow: The merchant securely transfers order information to ECash over the Internet via a proprietary _______.
Electronic Commerce Messaging Protocol (ECMP)
Secure Socket Layer (SSL)
Hypertext Transfer Protocol (HTTP)
Simple Mail Transfer Protocol (SMTP)
A merchant sells a digitally delivered service (no physical fulfillment). Using the workflow, choose the correct sequence of actions AFTER authorization is received to ensure funds are transferred:
ECash sends a settlement request to the issuing bank synchronized with the authorization
Merchant or distribution center sends ECash an ECMP fulfillment notification to permit settlement
Issuing bank approves transfer of money to acquiring bank (merchant’s account)
ECash sends an ECMP EDI message authorizing order fulfillment
According to the content, what does the term "micro payment" originally mean in relation to the US dollar?
1/10th of a US dollar
1/100th of a US dollar
1/1000th of a US dollar
1/10,000th of a US dollar
Fill in the blank: Micro payment are means for transferring very small amounts of money in situations where collecting such small amounts with the usual _______ is impractical or very expensive.
payment systems
bank loans
tax returns
insurance policies
According to the slide, Electronic funds transfer (EFT) refers to the _______ systems used to perform financial transactions electronically.
computer-based
manual
paper-based
voice-activated
Which option BEST describes direct debit as listed under Electronic funds transfer concepts?
Payroll payments from a business to its employees via a payroll services company
Cardholder-initiated transactions using a payment card
Payments from customer to business, initiated by the business with customer permission
International transfers via a banking network that generally carry a higher fee
A company needs to pay a supplier in another country today. Which EFT method should they choose and what is the trade-off?
Use a wire transfer via an international banking network, which generally carries a higher fee.
Use a domestic ACH transfer, which is slower but less expensive.
Use a paper check, which is the fastest and cheapest option.
Use a mobile payment app, which is universally accepted for international payments.
Which statement best defines a smart card (also called a chip card or integrated circuit card, ICC) as presented in the material?
A pocket-sized card with a magnetic stripe used only for storing data
A pocket-sized card with embedded integrated circuits capable of processing data
A full-sized plastic badge with printed barcodes for identification
A metal key fob that contains a radio transmitter
A company wants to reduce counterfeiting of employee access cards and enable single sign-on. Based on the material, which TWO features/practices should they adopt?
Embed a hologram on the card
Use smartcards for strong security authentication
Make the card from paper instead of plastic
Remove all integrated circuits to prevent tampering
According to the slide, which technology is specifically used to keep financial data secret from unauthorized parties, addressing privacy?
Hash functions
Digital signatures
Cryptography
Digital certificates
A merchant wants to ensure that a message sent to a customer was not altered during transit and also be able to prove later that the customer actually participated in the transaction. Based on the slide, which two technologies should the merchant apply to meet these goals? Answer with the two technologies separated by a comma, in the order of the goals described.
Hash functions, Digital signatures
Symmetric encryption, Public key infrastructure
Firewalls, Intrusion detection systems
Biometrics, Access control lists
