MC Questions Flashcards
1
Q
Fintechs are likely to dominate the finance industry in the future because
A
The statement is untrue
2
Q
Bitcoin is
A
- Hard to use
- Not a useful currency as value fluctuates
- None of the above
3
Q
Challenger Banks
A
Are likely to remain small and co-exist with legacy banks
4
Q
Fintechs attack the payments system because
A
- Profitable part of banking
- Low capital commitment
- Legacy banks have outdates systems
5
Q
Distributed Ledger is
A
A network that records ownership through a shared registry
6
Q
Central banks should abolish cash because
A
- Expensive to produce
- Exposes those handling it to risk of theft or attack
7
Q
M-pesa
A
Using ‘Tokens’ in the form of a code sent by text message
8
Q
Blockchain technology can
A
- enables accounting process to be automated
- result in every transaction being ‘notarised’
- allow for automated audit of all transactions
9
Q
Blockchain technology can
A
- fast settlement which is almost realtime
- transaction cost will be low
- settlement of securities transactions by consensus
10
Q
Most Fintech technologies involve
A
PROCESS IMPROVEMENT
