FinTech Quiz 1 || with 100% Errorless Solutions.
Material correct answers The Financial Stability Board defines fintech as "technology-enabled innovation in financial services that could result in new business models, applications, processes or products with an associated __________ effect on the provision of financial services"
Fintech Adoption Rate correct answers What measures the fintech users as a percentage of the digitally active population?
b) eliminate all risk in the online banking system correct answers Open Banking standards do all but which of the following?
a) make it possible to pass on information to third parties
b) eliminate all risk in the online banking system
c) streamline access to bank data
d) make it easier to find banks with disabled access
e) enable comparison of the features of different personal and business accounts
Robo-Advisors correct answers ______________ are online services that use algorithms to automatically perform many investment tasks done by a human financial advisor
II and III only correct answers Which of the following regarding banking-as-a-service are true?
I. It has restricted the financial transparency options for account holders
II. It is an end-to-end process that allows fintechs and other third parties to connect with banks' systems directly via APIs
III. The process begins with a fintech or other third-party provider paying a fee to access the platform
a & b. It helped reduce the bid-ask spread, and it ended fixed securities commissions. correct answers The advantages of the establishment of the NASDAQ include which of the following?
a) it helped reduce the bid-ask spread
b) it ended fixed securities commissions
c) it led to the proliferation of ATMs
e) banks are known for having greater agility and a more innovative mindset correct answers Which of the following is not an advantage that retail banks maintain over fintechs?
a) banks have tens of millions of trusting customers who interact with them daily
b) the cost of capital for banks is close to zero
c) banks have decades of compliance experience
d) banks have more experienced legal teams
e) banks are known for having greater agility and a more innovative mindset
Smart Contract correct answers a _______________________ is an application that runs exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference
Material correct answers The Financial Stability Board defines fintech as "technology-enabled innovation in financial services that could result in new business models, applications, processes or products with an associated __________ effect on the provision of financial services"
Fintech Adoption Rate correct answers What measures the fintech users as a percentage of the digitally active population?
b) eliminate all risk in the online banking system correct answers Open Banking standards do all but which of the following?
a) make it possible to pass on information to third parties
b) eliminate all risk in the online banking system
c) streamline access to bank data
d) make it easier to find banks with disabled access
e) enable comparison of the features of different personal and business accounts
Robo-Advisors correct answers ______________ are online services that use algorithms to automatically perform many investment tasks done by a human financial advisor
II and III only correct answers Which of the following regarding banking-as-a-service are true?
I. It has restricted the financial transparency options for account holders
II. It is an end-to-end process that allows fintechs and other third parties to connect with banks' systems directly via APIs
III. The process begins with a fintech or other third-party provider paying a fee to access the platform
a & b. It helped reduce the bid-ask spread, and it ended fixed securities commissions. correct answers The advantages of the establishment of the NASDAQ include which of the following?
a) it helped reduce the bid-ask spread
b) it ended fixed securities commissions
c) it led to the proliferation of ATMs
e) banks are known for having greater agility and a more innovative mindset correct answers Which of the following is not an advantage that retail banks maintain over fintechs?
a) banks have tens of millions of trusting customers who interact with them daily
b) the cost of capital for banks is close to zero
c) banks have decades of compliance experience
d) banks have more experienced legal teams
e) banks are known for having greater agility and a more innovative mindset
Smart Contract correct answers a _______________________ is an application that runs exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference
