MasterCard Implementation Specialist Interview Questions and Answers

The OSI (Open Systems Interconnection) model is a conceptual framework that standardizes the functions of a communication system into seven layers.

• The OSI model is used to understand and describe how different network protocols work together.

• Each layer in the OSI model has a specific function and interacts with the layers above and below it.

• The seven layers of the OSI model are: Physical, Data Link, Network, Transport,...read more

TCP (Transmission Control Protocol) and UDP (User Datagram Protocol) are two protocols used in computer networking.

• TCP is a connection-oriented protocol that provides reliable and ordered delivery of data packets.

• UDP is a connectionless protocol that provides fast and unreliable delivery of data packets.

• TCP is used for applications that require guaranteed delivery of data, such as web browsing and email.

• UDP is used for...read more

RAID (Redundant Array of Independent Disks) is a data storage technology that combines multiple physical drives into a single logical unit for improved performance, fault tolerance, and data protection.

• RAID is used to increase storage capacity, enhance data reliability, and improve read/write performance.

• There are different RAID levels, such as RAID 0, RAID 1, RAID 5, RAID 10, etc., each offering different benefits and...read more

Cloud computing is the delivery of computing services over the internet.

• Cloud computing allows users to access and use computing resources on-demand, such as storage, processing power, and software applications.

• These resources are hosted and managed by a third-party provider, allowing users to avoid the need for physical infrastructure and maintenance.

• Examples of cloud computing services include Amazon Web Services (AW

Debit and credit are accounting terms used to record financial transactions. Journal entries are the detailed records of these transactions. Bookkeeping involves organizing and maintaining financial records. Cash flows track the movement of money in and out of a business. Manual payouts routine wise refer to the process of making payments manually according to a set procedure.

• Debit and credit are used to record increas...read more

Accounting standards are guidelines and rules set by regulatory bodies to ensure consistency and transparency in financial reporting.

• Accounting standards dictate how financial transactions should be recorded, reported, and disclosed in financial statements.

• They help ensure comparability between different companies' financial statements.

• Examples of accounting standards include GAAP (Generally Accepted Accounting Princip...read more