Which of the following best describes how blockchain technology achieves data immutability in FinTech applications?

• By allowing all participants to modify previous blocks

• Through centralized database management systems

• Using cryptographic hashes linking each block to its predecessor

• By storing all transaction data in a single location for easy access

What characteristic of cloud computing allows FinTech companies to manage demand spikes without significant upfront investment?

• Fixed capacity planning

• Elastic scalability

• Single-tenancy architecture

• On-premises deployment

Cloud-based services in FinTech allow companies to

• Delay launching new products and services

• Deploy their services quickly and easily without complex on-premise deployments

• Ignore market changes and customer needs

• Increase the cost of product development

What role does IoT play in enhancing FinTech services?

• Reducing the amount of real-time data collection

• Decreasing the efficiency and convenience of financial services

• Collecting real-time data for personalized financial services

• Limiting access to financial accounts

How do robo-advisors utilize cloud computing in the FinTech ecosystem?

• By providing personalized financial advice using vast data storage and processing capabilities

• By reducing the amount of data analysis possible

• By limiting investment recommendations

• By increasing the cost of financial advice

Blockchain technology enhances FinTech services by providing:

• Decreased transparency in transactions

• Higher transaction costs

• Less secure data storage

• Immutable and transparent record-keeping

Which protocol forms the basis of most real-time, peer-to-peer cryptocurrency transactions?

• SMTP (Simple Mail Transfer Protocol)

• HTTP (Hypertext Transfer Protocol)

• TCP/IP (Transmission Control Protocol/Internet Protocol)

• Blockchain Protocol

What aspect of digital currency transactions allows for direct transfers between parties without the need for a central clearing authority?

• Peer-to-peer (P2P) network structure

• Credit card networks

• Centralized banking systems

• Traditional wire transfer services

In a cloud computing environment, what term describes the model where computing resources are provisioned over the internet on an as-needed basis?

• Community Cloud

• On-Demand Self-Service

• Distributed Computing

• Managed Hosting

Which IoT application is transforming the insurance industry by allowing more accurate risk assessment?

• Social media monitoring

• Traditional survey methods

• Telematics in vehicles

• Manual record keeping