AL IT in security

What is traditional currency made up of?

• Digital records

• Coins and banknotes

• Cryptocurrencies

• Stored-value cards

Who controls the amount of physical money in circulation?

• Individual consumers

• Central banks or financial institutions

• Online payment systems

• Private businesses

What does digital currency refer to?

• Physical coins and banknotes

• Money recorded electronically

• Money used only in online games

• Coins with unique serial numbers

Which of the following is NOT a characteristic of a centralised banking system?

• Regulation of debit and credit card systems

• Control of the money supply

• Lack of central authority

• Supervision of financial activities

What is a central bank digital currency (CBDC)?

• A type of physical money

• Digital currency regulated by a government

• A virtual currency used in online games

• A decentralized cryptocurrency

How does a credit card transaction work?

• Money is immediately deducted from the cardholder’s account

• The cardholder is billed later by the issuing bank

• The cardholder must pay in cash

• Transactions are directly processed through cryptocurrency

What differentiates a debit card from a credit card?

• Debit cards allow borrowing money

• Credit cards require immediate payment

• Debit cards directly deduct funds from the cardholder’s account

• Credit cards use a unique serial number for each transaction

Which system requires electronic authorization for transactions?

• Offline debit cards

• Online debit cards

• Credit cards

• Stored-value cards

What is the primary function of an ATM?

• To process online payments

• To check account balances and withdraw cash

• To store cryptocurrency keys

• To issue credit cards

What does an electronic point-of-sale (EPOS) system do?

• Manages credit card issuance

• Completes sales transactions in stores

• Mines cryptocurrencies

• Issues stored-value cards