Two factor authentication is often shortened to 2FA, which takes up a lot less room to spell out. Regardless of whether you use the shortened version or the longer one, is up to you. Two factor authentication also functions the same, not matter what you call it. This type of authentication uses a second form of security, in addition to your user name and password, in order to gain access to different resources.
Is 2FA the Same as Answering Security Questions?
Some businesses will require you to answer special security questions ahead of time when setting up your log on account. When you go to access the resource, you enter your user name and password. After this is authenticated, you are challenged with different security questions and entering in their answers. While this is one form of added security, it is not 2FA. Two factor authentication is the piece of authentication which uses something you own or posses like a digital certificate or a USB token key.