1. Which of the below functions is associated with Acquirers?
A. Provide settlement services to a merchant
B. Provide authorization services to a merchant
C. Provide clearing services to a merchant
D. All of the options
- Correct Answer: D
2. Which of the following entities will actually appr...
PCIP Practice Exam Questions and Answers 2023 1. Which of the below functions is associated with Acquirers? A. Provide settlement services to a merchant B. Provide authorization services to a merchant C. Provide clearing services to a merchant D. All of the options - Correct Answer: D 2. Which of the following entities will actually approve a purchase? A. Non-Issuing Merchant Bank B. Issuing Bank C. Payment Transaction Gateway D. Acquiring Bank - Correct Answer: B 3. Which of the following lists the correct "order" for the flow of a payment card transaction? A. Clearing, Settlement, Authorization B. Clearing, Authorization, Settlement C. Authorization, Clearing, Settlement D. Authorization, Settlement, Clearing - Correct Answer: C 4. Service Providers include companies which _____________or could______________the security of cardholder data. A. are PCI compliant, prove effective controls for B. control, impact C. manage, test D. control, subrogate - Correct Answer: B 5. Cardholder Data may be stored in "KNOWN" and "UNKNOWN" locations. A. True B. False - Correct Answer: A 6. Storing Track Data "Long -Term" or "persistently" may be permitted if_______________. A. it is being stored by issuers B. it is reported to the PCI SSC annually in a RoC C. it is encrypted by the merchant storing it D. it is hashed by the merchant storing it - Correct Answer: A 7. PCI DSS Requirement 3.4 states the PAN must be rendered unreadable when stored, using___________. A. Encryption, Truncation, or Obfuscating
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