07. UMSDD Module 01 Quiz

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Question 1 of 12

1. Question

Which payment instruments and frameworks are within the scope of SEPA?

A: SCT and SCT Inst
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B: Cheques
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C: SEPA Direct Debit Core and B2B
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D: Payment Cards
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Question 2 of 12

2. Question

Which statements are correct about the SEPA area?

A: The SEPA area includes the European Union.
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B: The SEPA area is the same as the Euro area.
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C: United Kingdom is not part of the SEPA Area
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D: SEPA payments are considered as domestic payments in the whole SEPA area.
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Question 3 of 12

3. Question

What are the optional SEPA Schemes?

A: SEPA Credit Transfer
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B: SEPA Instant Credit Transfer
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C: SEPA Direct Debit Core
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D: SEPA Direct Debit B2B
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Question 4 of 12

4. Question

What are the main SEPA Payments Initiatives?

A: SEPA Cards Framework
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B: SEPA goes mobile
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C: SEPA for Crypto-currencies
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D: SEPA for Cash
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Question 5 of 12

5. Question

What are the main goals of the Payment Services Directive?

A: Harmonize legislation surrounding the provision of payment services within the EU.
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B: Encourage competition by allowing new players to enter the European Single Market.
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C: Ensure that prices of payments services are the same in all SEPA countries.
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D: Define the rights and obligations of payment services providers and payment service users.
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Question 6 of 12

6. Question

The PSD 2 introduces the third party payment service providers (TPP). Which of the following belong to the TPP ?

A: Payment Initiation Service Providers
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B: Account Information Service Providers
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C: Payment Instrument Issuer Service Providers
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D: Payment Booking Service Providers
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Question 7 of 12

7. Question

Which statements are correct about the European Payment Council?

A: As part of the European Union institutional framework, the EPC has authority to issue SEPA rules.
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B: The EPC manages the four SEPA Payment schemes and the SEPA Payments initiatives.
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C: The EPC members are Payment Services Providers and large European Corporations.
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D: The EPC publishes the schemes documents and other clarification notes.
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Question 8 of 12

8. Question

Which documents about SEPA are published by the European Payment Council?

A: The Payment Services Directive
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B: The schemes rulebooks
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C: The schemes implementation guidelines
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D: Clarification papers on SEPA schemes
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Question 9 of 12

9. Question

What is the main difference between a Bank PSP and a non-bank PSP?

A: A bank PSP is regulated while a non-Bank PSP is not regulated.
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B: Non-bank PSPs provide payment services, but not credit and saving services like banks.
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C: In contrary to banks, a non-bank PSP needs a license in each EU country where it operates.
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D: In contrary to banks, a non-bank PSP must provide payment services as sole activity.
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Question 10 of 12

10. Question

All SEPA payments are based on the Four Corner Model. What is the Four Corner Model composed of?

A: A PSP and Its PSU on one side, another PSP and Its PSU on another side.
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B: A PSP and Its PSU on one side, another PSP and Its PSU on another side, Both PSPs are interconnected through a USD clearing system.
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C: A PSP and Its PSU on one side, another PSP and Its PSU on another side, Both PSPs are interconnected through clearing and settlement systems in EUR.
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D: A PSP and Its PSU on one side, another PSP and Its PSU on another side, Both PSPs are interconnected through clearing and settlement systems in GBP.
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Question 11 of 12

11. Question

Each SEPA payment is either a push or a pull payment. Which of the following are pull payments?

A: The SEPA Credit Transfer
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B: The SEPA Direct Debit Core
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C: The SEPA Direct Debit Business-to-Business
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D: The SEPA Instant Credit Transfer
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Question 12 of 12

12. Question

Which of the following are the standards for the SEPA Account identifiers?

A: ISO 3166 standard for Country codes.
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B: ISO 20022 for SEPA Messages.
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C: ISO standard 13616 for the IBAN.
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D: ISO standard 9362 for the BIC.
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07. UMSDD Module 01 Quiz

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