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Topic 8 Test 3 Fintech
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What does FinTech stand for
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1 point
A) Financial Technology
B) Fiscal Technology
C) Financial Transition
D) Fiscal Transition
Which technology is commonly used in FinTech?
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A) Cloud computing
B) Typewriters
C) Fax machines
D) Radio
What does SaaS stand for in the context of FinTech?
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A) System as a Service
B) Software at a Shop
C) System at a Site
D) Software as a Service
FinTech companies often focus on which of the following?
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A) Decreasing technology use
B) Avoiding regulations
C) New business models
D) Reducing transparency
Is mobile technology relevant to FinTech?
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A) Yes, it's crucial
B) No, it's irrelevant
C) Rarely used
D) Only in old systems
What is one benefit of FinTech?
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A) Increased costs
B) Slower transactions
C) Reduced transparency
D) Cheaper transactions
Can FinTech lead to greater financial inclusion?
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A) Yes
B) No
C) It's not related
D) Only in some countries
Which of the following is a focus of FinTech?
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A) Reducing technology in finance
B) Increasing paper-based systems
C) Introducing new financial processes
D) Avoiding digital transformation
FinTech combines which two elements?
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A) Finance and Teaching
B) Finance and Technology
C) Food and Technology
D) Fitness and Technology
What is one risk associated with FinTech?
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A) Improved efficiency
B) Enhanced security
C) Cybercrime
D) Better customer service
What does the 'unbundling' of banks refer to in FinTech?
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A) Increasing the size of banks
B) Combining more banks together
C) Breaking down services into smaller parts
D) Strengthening bank regulations
What trend contributes to the growth of FinTech?
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A) Decrease in mobile usage
B) Increase in mobile payment transactions
C) Reduction in internet availability
D) Slower technological advancements
How has FinTech affected financial transactions?
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A) Made them more expensive
B) Slowed them down
C) Made them faster and cheaper
D) Made them less secure
What is a significant concern in the FinTech sector?
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A) Over-regulation
B) Excessive transparency
C) Cybercrime
D) Decrease in innovation
FinTech uses extensive technology including:
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A) Metadata analysis
B) Pneumatic tubes
C) Abacuses
D) Mainframe computers from the 1960s
What might be an effect of user anonymity in FinTech?
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A) Easier regulatory compliance
B) Reduced cybercrime
C) Potential for criminal activities
D) Enhanced government control
Which of the following is a funding trend in FinTech?
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A) Decrease in investments
B) Stability in funding
C) Explosive growth in funding activities
D) No funding activities
How does FinTech benefit transactions?
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1 point
A) By making them more complicated
B) By increasing the transaction time
C) By increasing costs
D) By making them cheaper and faster
Which technology is integral to the operation of FinTech?
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1 point
A) Steam engines
B) SaaS
C) Telegraphs
D) Carbon paper
Increased regulatory scrutiny in FinTech is due to:
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A) Decreasing technology use
B) Fewer financial transactions
C) The sector's growth and technology integration
D) Lack of innovation
The introduction of new financial products is a characteristic of:
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A) Traditional banking
B) FinTech
C) Old school economics
D) Non-digital financial systems
Which factor is a driving force behind the increasing establishment of FinTech companies?
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A) Decreasing mobile usage
B) High costs of technology
C) Increasing mobile payment trends
D) Decreasing internet speeds
What potential risk does the anonymity feature of FinTech introduce?
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A) Improved efficiency
B) Enhanced customer service
C) Money laundering risks
D) Decreased transaction times
The use of cloud computing in FinTech is primarily for:
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A) Enhancing data security and scalability
B) Eliminating internet usage
C) Decreasing data accessibility
D) Increasing physical data storage
Volatility in FinTech markets can be attributed to:
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A) Decreased funding activities
B) Traditional banking methods
C) Quick transfer of funds and market reactions
D) Lack of technological advancement
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