FINTECH MIDTERM QUESTIONS WITH DETAILED
VERIFIED AND 100% ACCURATE ANSWERS
What is the primary benefit to a retailer of using "real time payments"?
Correct Answers Speed of payment
In the payment ecosystem which function provides a communication
link between a merchant and an issuer? Correct Answers Card Networks
In the traditional payments space, TSYS and First Data are examples of
Correct Answers Merchant Service Providers (MSPs)
Payment capabilities from applications like Venmo or Facebook are
called Correct Answers social payments
Which is not a responsibility of the Federal Reserve Correct Answers set
the prime lending rate
(responsibilities are to conduct monetary policy, provide supervision and
oversight, and to provide check clearance services
Blockbuster was disrupted by what technology Correct Answers high
overhead costs, streaming services, and direct to consumer mail services
What percentage of the US population is listed as unbanked or
underbanked Correct Answers 28%
, This fintech has reached 75% of the adult population of Kenya in less
than 5 years Correct Answers M-Pesa
What formula defines net interest revenue Correct Answers Net interest
income - net interest expense
T/F Banks make higher gross profit when interest rates are lower
Correct Answers False
The four core services of a traditional retail bank Correct Answers
saving, payments, investing, lending
Fintech companies typically fall into which three categories Correct
Answers complement, catalyst, competitor
PayPal started in 1998 as an original Fintech organizations. What
business model do they best fit within? Correct Answers complementer
or catalyst
Before 1972 traditional banking paper remittance took the shape of the
following Correct Answers personal check, money order, draft, cashiers
check
What are the 5 functions of the credit card value chain? Correct Answers
Processors, card networks, ACH providers, Gateways, and ISOs/MSPs
VERIFIED AND 100% ACCURATE ANSWERS
What is the primary benefit to a retailer of using "real time payments"?
Correct Answers Speed of payment
In the payment ecosystem which function provides a communication
link between a merchant and an issuer? Correct Answers Card Networks
In the traditional payments space, TSYS and First Data are examples of
Correct Answers Merchant Service Providers (MSPs)
Payment capabilities from applications like Venmo or Facebook are
called Correct Answers social payments
Which is not a responsibility of the Federal Reserve Correct Answers set
the prime lending rate
(responsibilities are to conduct monetary policy, provide supervision and
oversight, and to provide check clearance services
Blockbuster was disrupted by what technology Correct Answers high
overhead costs, streaming services, and direct to consumer mail services
What percentage of the US population is listed as unbanked or
underbanked Correct Answers 28%
, This fintech has reached 75% of the adult population of Kenya in less
than 5 years Correct Answers M-Pesa
What formula defines net interest revenue Correct Answers Net interest
income - net interest expense
T/F Banks make higher gross profit when interest rates are lower
Correct Answers False
The four core services of a traditional retail bank Correct Answers
saving, payments, investing, lending
Fintech companies typically fall into which three categories Correct
Answers complement, catalyst, competitor
PayPal started in 1998 as an original Fintech organizations. What
business model do they best fit within? Correct Answers complementer
or catalyst
Before 1972 traditional banking paper remittance took the shape of the
following Correct Answers personal check, money order, draft, cashiers
check
What are the 5 functions of the credit card value chain? Correct Answers
Processors, card networks, ACH providers, Gateways, and ISOs/MSPs
