WorksheetsACC5044-Week 2
Total questions: 20
Worksheet time: 24mins
Disintermediation in the financial industry means:
Increasing the number of intermediaries
The discontinuation of intermediation services
Centralization of economic exchanges
Decrease in Peer-to-Peer sharing
What is a significant economic impact of the Fourth Industrial Revolution?
Decrease in new job opportunities
Shift in the nature of work
Reduction in business models
Stagnation of technological innovation
The Internet of Things (IoT) primarily functions to:
Connect billions of devices and share data
Improve healthcare services exclusively
Focus on agricultural advancements
Develop new energy sources
Fintech is best described as:
A declining financial services sector
The use of technology in transforming banking and financial industries
A focus on non-technological business models
The avoidance of digital innovations in finance
What characterizes the Fourth Industrial Revolution?
Advancements in manufacturing
Digital technology-driven change
Focus on agricultural development
Expansion of mechanical inventions
Decentralized Finance (DeFi) is characterized by:
Centralized financial applications
Blockchain-enabled applications challenging the current financial ecosystem
Traditional banking practices
Decreased use of smart contracts
A major concern associated with the Fourth Industrial Revolution is:
Decreased data generation
Privacy and security issues
Reduced need for reskilling
Lowered ethical standards
A potential benefit of fintech is:
Slower financial processes
Improved speed and efficiency in financial services
Increased regulatory protection
Reduced economic opportunities
The digital sharing economy can be defined as:
A decline in digital platform usage
A shift away from technology in business
The use of digital solutions to facilitate collaborative transactions
The reduction of internet access globally
Which technology is transforming decision-making and business models in the Fourth Industrial Revolution?
3D Printing
Blockchain
Artificial Intelligence and Machine Learning
Biotechnology
A potential risk associated with fintech is:
Enhanced understanding of financial products by consumers
Loss of consumer control over data
Decreased possibilities for financial crime
Increased regulatory protections
In terms of global market share, the UK fintech sector:
Is the leading market
Accounts for about 10% of the global market
Has minimal impact internationally
Is predominantly focused on local markets only
Which of the following is a service offered by fintech companies?
Traditional banking only
E-wallets and alternative finance
Solely insurance services
Agricultural development
Define the digital sharing economy and its significance in the Fourth Industrial Revolution.
Discuss the potential risks associated with fintech, including regulatory and technological challenges.
Identify the main actors in the Fintech sector and their roles.
What is disintermediation, and how is it affecting the traditional financial industry?
The Fourth Industrial Revolution is characterized by a ------------------.
(a)
Digital sharing economy can be defined as the application of technology and innovation leveraging --------------- to collaboratively engage communities in numerous transactions such as accommodation, transportation, multimedia exchange, finance, health, education and etc.
(a)
Key Technologies Driving the Fourth Industrial Revolution include all of the following except:
Robotics
Artificial Intelligence
electricity
astronautics
