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WorksheetsDigital Transformation in Banking and Finance
Total questions: 20
Worksheet time: 13mins
This SMS says “Your bank account is locked. Click the link to verify.” Is this phishing?
Yes
No
Complicated
Which statement best describes the relationship between AI and ML?
ML is broader than AI
AI is a subset of ML
ML is a subset of AI
AI and ML are unrelated
Why is real-time decision-making crucial in banking?
What is one major reason banks struggle without AI in handling data?
Traditional tools cannot process large-scale modern data
Banks do not collect enough customer data
Data quality in banking is always poor
Regulations limit data usage
What competitive pressure pushes banks toward AI adoption?
Decline of customer data
Growth of FinTech companies
Lack of trained employees
Decrease in cyber-attacks
Which is a key benefit of AI in fraud detection?
It eliminates the need for human analysts
It detects fraud in milliseconds
It prevents all types of fraud
It only works on historical data
What is a major capability of ML in banking risk management?
Replacing all manual KYC processes
Guaranteeing perfect credit scoring
Ensuring 0% false positives
Learning continuously from new fraud patterns
Which technology is used by JPMorgan to detect unusual transaction sequences?
Rule-based algorithms
Robotic Process Automation
Deep learning
Blockchain
Mastercard’s Decision Intelligence System primarily focuses on:
Scoring each transaction in real-time
Increasing ATM uptime
Enhancing customer biometrics
Monitoring employee behavior
What is a major takeaway from PayPal’s AI fraud detection?
Why are banks high-value targets for cybercriminals?
Banks share customer data publicly
Banks operate only during business hours
Banks store extremely sensitive personal and financial data
Banking systems are rarely updated
What does GDPR primarily enforce for banks?
What is Zero Trust Architecture’s core principle?
Trust internal systems by default
Allow unrestricted employee access
“Never trust, always verify”
Encrypt only external data
Which of the following is a common cyberattack on banks?
Account takeover is an example of which threat type?
Infrastructure failure
Social engineering fraud
Hardware malfunction
Business continuity risk
Why are third-party vendors a cybersecurity risk?
Which method enhances identity security in banking?
Single-factor authentication
IP-based login
Allowing shared user credentials
Multi-factor authentication
Which concept helps secure Open Banking APIs?
Rate limiting and API gateways
Offline transaction processing
Removing encryption
Manual log reviews only
AI/ML in threat detection mainly helps by:
Why is cybersecurity described as “foundational” for digital transformation?
It decreases the need for mobile apps
Without it, digital innovations can lead to severe damage
It improves employee productivity only
Cybersecurity is only needed after digital products launch
