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Understanding Fintech and Blockchain Basics

Authored by Shamim Ahmed

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University

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Understanding Fintech and Blockchain Basics
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term "fintech" stand for?

Financial Technology

Finance Techniques

Final Technology

Fiscal Network

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a key feature of blockchain technology?

Centralised database

Decentralised ledger

Paper-based records

Manual transaction approval

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is an example of a fintech service?

Online banking app

Physical cheque book

Cash register

Manual accounting ledger

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of blockchain in financial transactions?

To increase paperwork

To provide a transparent and secure record

To slow down transactions

To eliminate all digital records

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which cryptocurrency was the first to use blockchain technology?

Ethereum

Bitcoin

Ripple

Litecoin

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In fintech, what does the term "peer-to-peer" (P2P) refer to?

Transactions between banks only

Transactions directly between individuals

Transactions with government agencies

Transactions using only cash

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes a "smart contract" in blockchain?

A legal document signed by a lawyer

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

A paper contract stored in a safe

A verbal agreement between two parties

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