eCommerce MCQ Questions and Solutions with Explanations | Commerce

The most widely used encryption standard is Advanced Encryption Standard (AES). The Advanced Encryption Standard, or AES, is a symmetric block cipher chosen by the U.S. government to protect classified information and is implemented in software and hardware throughout the world to encrypt sensitive data.

A combination of software and information designed to provide security and information for payment is called digital wallet. A digital wallet is a system that securely stores users' payment information and passwords for numerous payment methods and websites.

The correct answer is C: SSL. Here's why:

SSL (Secure Sockets Layer) is the most widely used protocol for securing communication channels on the internet.
It creates an encrypted connection between a web server and a browser, ensuring that all data transmitted is private and secure.
You'll often see "HTTPS" (HTTP Secure) in the URL, which indicates that SSL/TLS is being used.

Let's look at the other options:

A: S-HTTP (Secure HTTP) is an older protocol, less commonly used than SSL/TLS.
It focuses on securing individual messages rather than the entire connection.

B: VPNs (Virtual Private Networks) create a secure connection to a private network.
While they provide security, they are more often used for securing access to a network rather than specifically securing eCommerce transactions directly on websites.

D: PPTP (Point-to-Point Tunneling Protocol) is an older VPN protocol that has known security vulnerabilities.
It is generally not recommended for secure communications anymore.

Therefore, because of its widespread adoption and specific focus on securing web communication, SSL is the most common form of securing eCommerce channels.

The name for direct computer‐to‐computer transfer of transaction information contained in standard business documents is electronic data interchange. Electronic Data Interchange (EDI) is the electronic interchange of business information using a standardized format; a process which allows one company to send information to another company electronically rather than with paper.

Firewalls are essential security measures for protecting computer networks and systems. They perform several functions to enhance network security, including:

Option A: Forbids communications from untrustworthy sources
Firewalls indeed forbid or block communications from untrustworthy or unauthorized sources. This is a fundamental function of firewalls to prevent unauthorized access and potential security threats.

Option B: Allows communications from trustworthy sources
Firewalls allow or permit communications from trusted and authorized sources. This is another crucial function that ensures legitimate network traffic can pass through while blocking suspicious or unauthorized connections.

Option C: Eliminates viruses and other malicious attacks
Firewalls are not primarily responsible for eliminating viruses and other malicious attacks. Their primary role is to prevent unauthorized access and control the flow of network traffic based on predefined security rules. Antivirus software and other security tools are typically used to eliminate viruses and detect malicious attacks.

Option D: Filters traffic based on packet attributes
Firewalls do filter network traffic based on packet attributes such as source and destination addresses, ports, and protocols. This filtering helps in enforcing security policies and access control rules.

Therefore, the correct statement is that firewalls perform all of the mentioned functions except for Option C: Eliminates viruses and other malicious attacks. Firewalls are not primarily responsible for virus elimination; this task is typically handled by dedicated antivirus and anti-malware software.

Financial electronic data interchange is used in B2B to pay for purchases. Business-to-business is a situation where one business makes a commercial transaction with another.

A security plan begins with a risk assessment. Risk assessment is a term used to describe the overall process or method where you: Identify hazards and risk factors that have the potential to cause harm (hazard identification). Analyze and evaluate the risk associated with that hazard (risk analysis, and risk evaluation).

The correct answer is D: Cash
Let's break down why:

A. Credit card: Credit cards involve a bank or financial institution acting as an intermediary.
When you use a credit card, the transaction needs to be processed through the card network (like Visa or Mastercard) and then the bank.

B. Accumulating balance: This isn't a standard payment system.
It sounds like something where a balance builds up over time, but it still wouldn't be instantly convertible without some process.

C. Stored value: Stored value cards (like gift cards or prepaid cards) do have value stored on them, but they usually require a specific system to redeem or convert that value.
There's often some processing involved, making it not instantly convertible.

D. Cash: Cash is the only option that allows for immediate and direct exchange of value without the need for any intermediary or processing.
You hand over the cash, and you immediately receive the goods or service.

Secure Sockets Layers creates a secure, private connection to a web server, encrypts information and sends information over the internet.