Digital Financial Services Quiz

Which of the following is an example of a digital financial service?

• Sending a letter to the bank to check your balance.

• Using an app to pay bills online.

• Visiting a bank branch to deposit cash.

• Calling a bank's customer service to ask for account details.

What is mobile banking?

• service that allows you to perform banking transactions using a mobile device.

• type of bank that only exists in shopping malls.

• method for withdrawing cash from ATMs.

• A way to transfer money using physical checks.

What is the main function of an e-wallet?

• To store cash in a physical wallet.

• To make and receive digital payments.

• To withdraw money from an ATM.

• To deposit money in a bank branch.

What does the term "cryptocurrency" refer to?

• A traditional paper currency used by banks.

• A digital or virtual currency secured by cryptography.

• A service provided by mobile banking apps.

• A type of loan offered by online banks.

Why are fintech companies important in the digital era?

• They build physical bank branches in rural areas.

• They offer innovative financial services through technology.

• They print physical money for banks.

• They provide only cash-based services.

What is the primary benefit of using blockchain technology?

• It allows for unlimited data storage.

• It provides a secure and transparent way to record transactions.

• It eliminates the need for internet access.

• It is a type of social media platform.

What is a key feature of peer-to-peer lending?

• It involves borrowing from traditional banks only.

• It allows individuals to lend and borrow money directly from each other.

• It requires collateral for all loans.

• It is only available for business loans.

Which of the following describes a smart contract?

• A contract that is signed electronically.

• A self-executing contract with the terms directly written into code.

• A contract that requires a notary public.

• A type of insurance policy.