MML201- 3
Authored by Education 10x
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1st - 8th Grade
Used 606+ times
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7 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Decentralized finance (Defi) provides financial instruments without the use of intermediaries like brokerages, exchanges, or banks.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Blockchain-based smart contract is used in:
Centralized finance
Decentralized finance
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
People can use DeFi platforms to:
lend or borrow money
speculate with derivatives
trade cryptocurrencies
all of the above
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The main difference between centralized/decentralized finance: centralized finance has a bank/agency involved whereas, in decentralized finance, blockchain smart-contract protocol is used.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
In DeFi, you'd use your decentralized finance application (dApp) to enter your loan needs.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
In _________ finance, you just need to agree to one of the lender's terms and receive your loan.
Centralized
Decentralized
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
A cryptocurrency is a decentralized digital currency.
True
False
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