AAFM Exam CWM_LEVEL_2 Topic 6 Question 54 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam

Question #: 54
Topic #: 6

[All CWM_LEVEL_2 Questions]

Section A (1 Mark)

Which of the following statements regarding debit and credit card liability is correct?

AA credit card carries more risk of loss to the cardholder.

BA debit card carries more risk of loss to the cardholder.

CThere is no cardholder liability if either type of card is lost.

DThe Government insures losses on credit but not debit cards.

Show Suggested Answer

Suggested Answer: C

by Wynell at Jan 07, 2023, 09:14 AM

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Kristine

2 months ago

Hmm, let me think. Debit cards are basically your own money, so the risk is higher. Right? Or am I totally off base here?

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Darrin

16 days ago

C) There is no cardholder liability if either type of card is lost.

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Walton

1 months ago

B) A debit card carries more risk of loss to the cardholder.

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Derick

1 months ago

A) A credit card carries more risk of loss to the cardholder.

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Jame

2 months ago

Wait, is this a trick question? I feel like they're trying to mess with us here. Where's the sarcasm font when you need it?

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Roxanne

9 days ago

Actually, it's C) There is no cardholder liability if either type of card is lost.

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Alfred

12 days ago

No, I believe it's B) A debit card carries more risk of loss to the cardholder.

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Lemuel

16 days ago

I think it's A) A credit card carries more risk of loss to the cardholder.

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Bettina

2 months ago

I'm just going to guess and hope for the best. This question is making my head spin! Maybe I should have paid more attention in that finance class...

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Olive

User 2: No, I believe it's B) A debit card carries more risk of loss to the cardholder.

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Armando

6 days ago

User 1: I think it's A) A credit card carries more risk of loss to the cardholder.

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Jacob

12 days ago

User 4: I remember learning that it's D) The Government insures losses on credit but not debit cards.

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Gwenn

27 days ago

User 3: I'm not sure, but I think it might be C) There is no cardholder liability if either type of card is lost.

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Lashawn

28 days ago

User 2: I disagree, I believe it's B) A debit card carries more risk of loss to the cardholder.

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Edda

1 months ago

User 1: I think it's A) A credit card carries more risk of loss to the cardholder.

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Caprice

2 months ago

I'm going with A. Credit cards have those pesky interest rates and fees, so the risk is higher for cardholders. Easy peasy!

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Solange

1 months ago

User 2: I see your point, but I still believe A is the right answer. Credit cards have more potential for loss.

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Sharen

1 months ago

User 1: I think B is correct. Debit cards are linked directly to your bank account, so the risk is higher.

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Blythe

2 months ago

But credit cards have more protection against fraud, so I think A is correct.

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Nobuko

2 months ago

D seems way too good to be true. The government insuring credit card losses but not debit cards? Nice try, exam writers!

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Arlette

2 months ago

B? Seriously? I always thought debit cards were safer since they're directly linked to my bank account. This exam is trying to trick us!

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Omer

3 months ago

I disagree, I believe the answer is B.

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Blythe

3 months ago

I think the correct answer is A.

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