11. What is the purpose of the CVV (Card Verification Value) on a credit card?
a) It serves as the card’s expiration date
b) It is used to verify the cardholder’s signature
c) It confirms the cardholder’s identity for online transactions
d) It is the card’s unique identification number
12. Which of the following is an example of a cashback reward?
a) Points that can be redeemed for merchandise
b) A statement credit applied to the cardholder’s account
c) Miles that can be used for travel
d) A gift card to a specific retailer
13. True or False: Debit cards can help build credit history.
14. What is the purpose of a magnetic strip on a credit card?
a) It contains the cardholder’s personal information
b) It serves as a signature for card verification
c) It stores the card’s expiration date
d) It holds encrypted data for transaction processing
15. Which of the following is NOT a major credit card network?
a) Visa
b) Mastercard
c) American Express
d) Discover
