FinTech Test 1 Practice Questions
(Adam) What are the three functions of money? - ANS-Medium of trade, shop of fee, & unit of
account.
(Anik) Economists outline money as? - ANS-Anything that human beings are willing to accept in
payment for goods & offerings or to repay money owed.
(Cindy) Which part of the credit score card transaction cycle approves or declines a credit score
card transaction based totally on to be had funds? - ANS-The card issuing financial institution
(Ethan & Samuel) Which city does maximum of the American enterprise for credit/debit
purchases go through? - ANS-Atlanta
(Evan) What government act required the Fed to offer bargain window loans, check clearing and
other price offerings, and require all depository institutions to preserve money in reserve debts
at the Fed? - ANS-The Depository Institutions Deregulation and Monetary Control Act of 1980
(Jim) What is Bitcoin? - ANS-The biggest virtual currency.
(Kaytlyn) What turned into the original Fintech? - ANS-Money
(Keith) According to Dennis Lockhart, what is digital gold? - ANS-Cryptocurrencies
(Luke) The Federal Reserve manages 3 key functions. - ANS-Electronic price range transfer,
distribution of coins, & take a look at processing.
(Me) Which of the subsequent factors often contributed to the Great Recession? -
ANS-Subprime mortgages
(Momodou) Which founding father championed the creation of a countrywide bank? -
ANS-Alexander Hamilton
(Nicole) Which of the subsequent is NOT a feature of cash? - ANS-Unstable
(Norsi) What is a barter financial system? - ANS-An economic system wherein goods & services
are made directly & money is not wanted.
(Paul) Atlanta is referred to as "transaction alley" due to the fact? - ANS-Decades vintage
organizations based in Atlanta, on the vanguard of the credit and debit card processing, grew to
grow to be leaders within the subject.
, (Roneisha) What are the simple issues with charge? - ANS-Frictionless, Immediate, &
Anonymous
(Vanessa) What are two of Fintech's predominant troubles? - ANS-Blockchain & Artificial
Intelligence
Banking Act of 1933 - ANS-Glass-Steagall Act: Allowed the creation of the FDIC and separated
commercial banks from funding banks. Also set up the FOMC.
Characteristics of Money - ANS-SAD DPS
*Scarce
*Acceptable
*Divisible
*Durable
*Portable
*Stable
Disinflation - ANS-Decreasing the charge of inflation. Deflation is while expenses cross down.
Four Factors of a Good Digital Signature - ANS-*Computationally green
*Collision resistant
*Deterministic
*Pre-Image Resistant
How Are Checks Collected Now? - ANS-Electronically via pix. Overall, their processing is going
down.
How can an entrepreneur encourage an investor to provide funding on more favorable phrases?
- ANS-*Provide more relevant facts to the buyers.
*Give the investor more governance energy over control.
How Do Banks Make Money? - ANS-*Charging higher hobby fees for loans than deposits
*Bank fees
*Investing in economic markets
How many transactions can Bitcoin handle in line with 2d? - ANS-7
How many transactions can Visa handle according to second? - ANS-24,000
Is it easier to alternate personal businesses way to Fintech? - ANS-No. The policies forestall
that.
(Adam) What are the three functions of money? - ANS-Medium of trade, shop of fee, & unit of
account.
(Anik) Economists outline money as? - ANS-Anything that human beings are willing to accept in
payment for goods & offerings or to repay money owed.
(Cindy) Which part of the credit score card transaction cycle approves or declines a credit score
card transaction based totally on to be had funds? - ANS-The card issuing financial institution
(Ethan & Samuel) Which city does maximum of the American enterprise for credit/debit
purchases go through? - ANS-Atlanta
(Evan) What government act required the Fed to offer bargain window loans, check clearing and
other price offerings, and require all depository institutions to preserve money in reserve debts
at the Fed? - ANS-The Depository Institutions Deregulation and Monetary Control Act of 1980
(Jim) What is Bitcoin? - ANS-The biggest virtual currency.
(Kaytlyn) What turned into the original Fintech? - ANS-Money
(Keith) According to Dennis Lockhart, what is digital gold? - ANS-Cryptocurrencies
(Luke) The Federal Reserve manages 3 key functions. - ANS-Electronic price range transfer,
distribution of coins, & take a look at processing.
(Me) Which of the subsequent factors often contributed to the Great Recession? -
ANS-Subprime mortgages
(Momodou) Which founding father championed the creation of a countrywide bank? -
ANS-Alexander Hamilton
(Nicole) Which of the subsequent is NOT a feature of cash? - ANS-Unstable
(Norsi) What is a barter financial system? - ANS-An economic system wherein goods & services
are made directly & money is not wanted.
(Paul) Atlanta is referred to as "transaction alley" due to the fact? - ANS-Decades vintage
organizations based in Atlanta, on the vanguard of the credit and debit card processing, grew to
grow to be leaders within the subject.
, (Roneisha) What are the simple issues with charge? - ANS-Frictionless, Immediate, &
Anonymous
(Vanessa) What are two of Fintech's predominant troubles? - ANS-Blockchain & Artificial
Intelligence
Banking Act of 1933 - ANS-Glass-Steagall Act: Allowed the creation of the FDIC and separated
commercial banks from funding banks. Also set up the FOMC.
Characteristics of Money - ANS-SAD DPS
*Scarce
*Acceptable
*Divisible
*Durable
*Portable
*Stable
Disinflation - ANS-Decreasing the charge of inflation. Deflation is while expenses cross down.
Four Factors of a Good Digital Signature - ANS-*Computationally green
*Collision resistant
*Deterministic
*Pre-Image Resistant
How Are Checks Collected Now? - ANS-Electronically via pix. Overall, their processing is going
down.
How can an entrepreneur encourage an investor to provide funding on more favorable phrases?
- ANS-*Provide more relevant facts to the buyers.
*Give the investor more governance energy over control.
How Do Banks Make Money? - ANS-*Charging higher hobby fees for loans than deposits
*Bank fees
*Investing in economic markets
How many transactions can Bitcoin handle in line with 2d? - ANS-7
How many transactions can Visa handle according to second? - ANS-24,000
Is it easier to alternate personal businesses way to Fintech? - ANS-No. The policies forestall
that.
