FinTech Regulations Quiz

FinTech Regulations Quiz

9th - 12th Grade

25 Qs

quiz-placeholder

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FinTech Regulations Quiz

FinTech Regulations Quiz

Assessment

Quiz

Instructional Technology

9th - 12th Grade

Practice Problem

Easy

Created by

Renz Hector

Used 1+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Bangko Sentral ng Pilipinas (BSP) has direct regulatory authority over all FinTech companies operating in the Philippines, including those that do not offer financial services.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under the Anti-Money Laundering Act (AMLA), FinTech firms facilitating digital payments are required to report suspicious transactions exceeding ₱500,000.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Philippine Data Privacy Act of 2012 (RA 10173) requires FinTech firms to obtain explicit consent from users before collecting personal financial data.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the Philippines, a FinTech company providing digital lending services must secure a license from both the Securities and Exchange Commission (SEC) and the BSP.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Regulatory sandboxes allow Philippine FinTech startups to test their innovations without any regulatory oversight.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Digital Payments Transformation Roadmap 2020-2023 of the BSP aims to achieve 70% financial inclusion by shifting to a fully cashless economy.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under Philippine laws, consumers have the right to request a detailed explanation of an algorithmic decision made by an AI-driven FinTech platform.

True

False

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