Cards & Payments Concepts Quiz

Test your knowledge of Cards & Credit basics with these 30 questions

Please enter your email:

1. Which of the following are NOT taken into account when calculating your Credit score?

 
 
 
 

2. You can stretch out the repayments on a student loan, if you arrange

 
 
 
 

3. When a Credit line is reduced by an anticipated purchase this is known as

 
 
 
 

4. Who assumes primary liability for the consumer’s debt incurred by use of the card?

 
 
 
 

5. A poor Credit score could affect

 
 
 
 

6. Which statement best describes a Cash Advance

 
 
 
 

7. A revolving Credit account is…

 
 
 
 

8. An Affinity card (Check all that Apply)

 
 
 
 

9. How is interest calculated on a credit card?

 
 
 
 

10. What advice should you give a customer when asked how much they should pay on their Credit Card?

 
 
 
 

11. What role do Card Schemes (like Visa or MasterCard) play in Credit Card purchases?

 
 
 
 

12. Adding someone to Your Credit Card account as an authorized user in an effort to raise their Credit score is …

 
 
 
 

13. Which of the following statements about an individuals credit record, is/are False

 
 
 
 

14. Which impact is the most likely outcome when cancelling a credit card?

 
 
 
 

15. You can increase Your Credit score if you

 
 
 
 

16. What do we mean by the term Zombie debt?

 
 
 
 

17. What is a secured Credit Card?

 
 
 
 

18. True or false: If a Credit Card bill is paid in full, on time, every month, no interest will apply

 
 
 
 

19. Given a lost or stolen card, potential losses with a Debit card are usually

 
 
 
 

20. How many digits are embossed on the front of a standard Visa and Mastercard Credit/Debit Card?

 
 
 
 

21. Credit blocking occurs when

 
 
 
 

22. Failure to pay a Credit Card on time can cause which of the following to happen? (Check all that Apply)

 
 
 
 

23. Which method for calculating interest on an outstanding balance usually produces the lowest overall interest payment for a stated contract rate?

 
 
 
 

24. What term best describes a Credit Card? Choose the answer that best fits

 
 
 
 

25. Can a Credit Card issuer change your interest rate at any time for any reason?

 
 
 
 

26. On a variable rate Credit Card, the interest rate is calculated by

 
 
 
 

27. ONE significant drawback associated with using a Credit Card is

 
 
 
 

28. A credit scoring model is (choose the best answer that applies)

 
 
 
 

29. One difference between a Debit card and a Credit Card is that

 
 
 
 

30. Using the simple interest method calculation, interest is

 
 
 
 


RETAIL, RISK, CREDIT & DIGITAL BANKING

Group, Institution, Corporate & Industry Training Events and Programs

TRAINING COURSES

Digital Innovation in Banking Masterclass
The Cards & Payments Industry professional Course is designed to help you understand the dramatic way in which product and payment services have changed