FINTECH FINAL QUESTIONS WITH DETAILED VERIFIED
AND 100% ACCURATE ANSWERS
Supervised Learning Correct Answers Uses a precise rule to predict
outcome
Ex: Regression Random Forrest
(Predict stock returns)
Unsupervised Learning Correct Answers Uncovers
relationships/commonalties/patterns between variables without a
model/structure
(What stocks are similar to each other)
Deep Learning Correct Answers Mimicking how the brain works, uses
multi-layered neural network
(Detect investor sentiment using social media)
Ex; time series (nerual nets)
Fin-tech: Correct Answers Use of technology and analytics to lower
frictions in financial servies
Hashing Correct Answers -One-way encryption
-Allows us to verify that the content of the message has not been altered,
and comes from the right sender
,-a crypto system to tranform an text of any length into (almsot)
irreversible fixed-length string of numbers and letters
-Hashing is not random. Every time you input as plaintext the same text,
the same hash is produced.
-websites dont keep passwords they keep hashes(they compare the hash
of what you typed to the hash they have in storage, if hacked he only
sees the hash not the password)
Encyption Correct Answers Two-way function, (we encrypt with the
purpose to decypt)
Technique to make sure that the message is not read by anyone else
True or false: Cryptographic hashing is NOT encryption Correct
Answers True
Cyptography Correct Answers Science of transmitting messages and
transactions securely against 3rd party advisories, you do this with
encypting and decypting them (Symetic and Asymetirc Keys)
Ideal Hasing function Correct Answers -Deterministic
-easy to compute but not decrypt
-collision resistant
-fast, but not too fast(or a brute force attack would be feasible)
Brute Force Correct Answers Trying all the possible ways to crack a
code
, Types of Hash Attacks Correct Answers Collision attack: means
designing a method that finds two texts with the same hash (any
hash).•Pre-image attack: means designing a method that, given a specific
target hash, finds a text that generates the hash.
Pre-image is more difficult than collsion
Hashing is used to confirm ... Correct Answers that a file was not
corrupted, and for message authentication, ONE WAY it should be
impossibe to retireve the plaintext from a hash
Types of Encyption Algotrims Correct Answers 1.Symmetric Key
Encryption: A common secret key is exchanged between the sender and
the receiver.
2.Asymmetric (Public) Key Encryption: Only the receiver has the key to
decipher the ciphertext.
•RSA•Elliptic Curve Cryptography
Symmetric key algorithms are best used for: Correct Answers 2 party
transactions (like banks) but not in networks (like blockchain)
Why?:
-How do you safely share a common key
-problem with common secret keys is that we need a key for each pair of
players. With n users in a network, we need O(𝑛2) common keys.
AND 100% ACCURATE ANSWERS
Supervised Learning Correct Answers Uses a precise rule to predict
outcome
Ex: Regression Random Forrest
(Predict stock returns)
Unsupervised Learning Correct Answers Uncovers
relationships/commonalties/patterns between variables without a
model/structure
(What stocks are similar to each other)
Deep Learning Correct Answers Mimicking how the brain works, uses
multi-layered neural network
(Detect investor sentiment using social media)
Ex; time series (nerual nets)
Fin-tech: Correct Answers Use of technology and analytics to lower
frictions in financial servies
Hashing Correct Answers -One-way encryption
-Allows us to verify that the content of the message has not been altered,
and comes from the right sender
,-a crypto system to tranform an text of any length into (almsot)
irreversible fixed-length string of numbers and letters
-Hashing is not random. Every time you input as plaintext the same text,
the same hash is produced.
-websites dont keep passwords they keep hashes(they compare the hash
of what you typed to the hash they have in storage, if hacked he only
sees the hash not the password)
Encyption Correct Answers Two-way function, (we encrypt with the
purpose to decypt)
Technique to make sure that the message is not read by anyone else
True or false: Cryptographic hashing is NOT encryption Correct
Answers True
Cyptography Correct Answers Science of transmitting messages and
transactions securely against 3rd party advisories, you do this with
encypting and decypting them (Symetic and Asymetirc Keys)
Ideal Hasing function Correct Answers -Deterministic
-easy to compute but not decrypt
-collision resistant
-fast, but not too fast(or a brute force attack would be feasible)
Brute Force Correct Answers Trying all the possible ways to crack a
code
, Types of Hash Attacks Correct Answers Collision attack: means
designing a method that finds two texts with the same hash (any
hash).•Pre-image attack: means designing a method that, given a specific
target hash, finds a text that generates the hash.
Pre-image is more difficult than collsion
Hashing is used to confirm ... Correct Answers that a file was not
corrupted, and for message authentication, ONE WAY it should be
impossibe to retireve the plaintext from a hash
Types of Encyption Algotrims Correct Answers 1.Symmetric Key
Encryption: A common secret key is exchanged between the sender and
the receiver.
2.Asymmetric (Public) Key Encryption: Only the receiver has the key to
decipher the ciphertext.
•RSA•Elliptic Curve Cryptography
Symmetric key algorithms are best used for: Correct Answers 2 party
transactions (like banks) but not in networks (like blockchain)
Why?:
-How do you safely share a common key
-problem with common secret keys is that we need a key for each pair of
players. With n users in a network, we need O(𝑛2) common keys.
