CPA Test Flashcards
What does FCA stand for?
A) Financial Conduct Authority
B) Financial Consumer Association
C) Financial Credit Authority
D) Financial Compliance Association
A) Financial Conduct Authority
When did the CPA changes have to be done by?
A) 1st October 2014
B) 1st July 2014
C) 1st December 2014
D) 1st September 2014
B) 1st July 2014
What does CPA stand for?
A) Credit Payment Authority
B) Continuous Payment Activity
C) Consumer Payment Advice
D) Continuous Payment Authority
D) Continuous Payment Authority
How many failed attempts can we have per instalment?
A) 1
B) 2
C) 3
D) 4
B) 2
Once CPA is cancelled, when can we take payments from the debit card?
A) When the customer give us permission
B) Straight away
C) Never again
D) After 5 days
A) When the customer gives us permission
How many days after he payment failing does an ATP plan fail under new rules?
A) 5 days
B) 0 - it fails on due date if payment not there
C) 2 days
D) the next day (day 1) if all attempts have failed the previous day
C) 2 days
When do you need to get permission to take a manual debit card payment when a customer is current?
A) Every time
B) Only when CPA has been cancelled by the customer
C) You don’t have to get specific permission as they have agreed CPA
D) You don’t, you only need to get permission if they are in debt
A) Every time
When do you need to get permission to take a manual debit card payment when a customer is in debt?
A) Only if there have been two failed attempts to take payment by CPA
B) Every time
C) Only when CPA has been cancelled by the customer
D) You don’t have to get specific permission as they have agreed to CPA
B) Every time
Which of the following have to happen for CPA to be re-instated for next instalment?
A) Customer must be notified of payment failing
B) Customer must be notified of next instalment
C) Customer has paid and is current or has given permission for CPA
D) All of the above
D) All of the above
- Customer must be notified of payment failing
- Customer must be notified of next instalment
- Customer has paid and is current or has given permission for CPA
What are our new sweep timings?
A) 2am, 4am and 7pm
B) 2am, 5.30am and 7am
C) 4am, 5.30am and 7am
D) 5.30am, 7am and 7pm
B) 2am, 5.30am and 7am
What does we sweep for in the three different timings in which order?
A) Total Amount - Scheduled Amount - Overpayment
B) Total Amount - Customer Overpayment - Scheduled Amount
C) Scheduled Amount - Customers Overpayment - Scheduled Amount
D) Minimum Amount - Overpayment - Scheduled Amount
A) Total Amount - Scheduled Amount - Overpayment
For customers on 211, 212 and 213 we will auto-sweep each day payment until due date?
A) No
B) Yes
A) No
Can you set up an ATP via debit card?
A) Yes
B) No
A) Yes
When can debt customers make a payment online?
A) They can’t, only current customers can pay online
B) Between day 0 - day 15
C) From 0 to 5 days past due date
D) Any time
B) Between day 0 - day 15
Can they pay from a one-off card on the members area?
A) No, only the card on system
B) Yes, as long as it is registered to the customer’s address
C) Yes, as long as it is a debit card and not a credit card
D) Only if it is authorised by a manager
A) No, only the card on system
