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The document contains 30 multiple-choice questions related to FinTech, covering topics such as definitions, technologies, products, and regulatory bodies. Key concepts include the role of Artificial Intelligence, Blockchain, and Big Data in enhancing financial services, as well as the challenges and benefits of FinTech adoption. It highlights the significance of convenience, accessibility, and regulatory compliance in the FinTech landscape.

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12 views5 pages

12

The document contains 30 multiple-choice questions related to FinTech, covering topics such as definitions, technologies, products, and regulatory bodies. Key concepts include the role of Artificial Intelligence, Blockchain, and Big Data in enhancing financial services, as well as the challenges and benefits of FinTech adoption. It highlights the significance of convenience, accessibility, and regulatory compliance in the FinTech landscape.

Uploaded by

kritikpaudel123
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Here are 30 multiple-choice questions (MCQs) based on the provided document, with answers in

bold:

1. What does FinTech stand for?


(a) Financial Techniques
(b) Financial Technology
(c) Finance Terminal
(d) Finance Tracking

2. Which of the following technologies is NOT considered part of FinTech's "ABCD"?


(a) Artificial Intelligence
(b) Blockchain
(c) Cloud Computing
(d) Digital Marketing

3. What is a primary objective of FinTech?


(a) Increase bank visits
(b) Enhance financial accessibility and efficiency
(c) Reduce mobile technology usage
(d) Limit financial transactions

4. Which of the following is an example of a FinTech product?


(a) Peer-to-Peer (P2P) lending
(b) Social media management
(c) Warehouse management systems
(d) Office automation software
Answer: (a) Peer-to-Peer (P2P) lending

5. Crowd funding platforms primarily help in:


(a) Raising funds from multiple investors online
(b) Organizing corporate events
(c) Stock market analysis
(d) Employee training
Answer: (a) Raising funds from multiple investors online

6. Which regulatory body in India oversees crowd funding and securities?


(a) Reserve Bank of India (RBI)
(b) Securities and Exchange Board of India (SEBI)
(c) Ministry of Finance
(d) National Payments Corporation of India (NPCI)
Answer: (b) Securities and Exchange Board of India (SEBI)

7. What is the primary function of Blockchain in FinTech?


(a) Data storage optimization
(b) Decentralized transaction verification
(c) Customer support
(d) Marketing analytics
Answer: (b) Decentralized transaction verification
8. Robo-advisors are used for:
(a) Automated financial planning and investment management
(b) Online banking transactions
(c) Insurance premium calculations
(d) Loan disbursement
Answer: (a) Automated financial planning and investment management

9. What makes FinTech companies attractive compared to traditional banks?


(a) Higher transaction fees
(b) Slow service delivery
(c) Ease of access and lower costs
(d) Limited customer reach
Answer: (c) Ease of access and lower costs

10. Which of the following technologies helps in analyzing large datasets for market predictions?
(a) Artificial Intelligence
(b) Cloud Computing
(c) Big Data
(d) Blockchain
Answer: (c) Big Data

11. Unified Payment Interface (UPI) allows users to:


(a) Apply for loans
(b) Transfer funds instantly between bank accounts
(c) Invest in stocks
(d) Purchase insurance
Answer: (b) Transfer funds instantly between bank accounts

12. What is a major challenge associated with FinTech adoption?


(a) High transaction fees
(b) Regulatory compliance
(c) Lack of data availability
(d) Reduced digital connectivity
Answer: (b) Regulatory compliance

13. Cloud Computing in FinTech provides:


(a) Offline transaction processing
(b) On-demand access to computing resources
(c) Physical data storage solutions
(d) Hardware cost reduction only
Answer: (b) On-demand access to computing resources

14. Which of the following is a benefit of Big Data in financial institutions?


(a) Data deletion
(b) Enhanced decision-making
(c) Reduced data storage
(d) Manual report generation
Answer: (b) Enhanced decision-making

15. The concept of smart contracts is associated with:


(a) Artificial Intelligence
(b) Blockchain
(c) Cloud Computing
(d) Big Data
Answer: (b) Blockchain

16. Which of the following is a FinTech trend?


(a) Decline in digital banking
(b) Increasing blockchain adoption
(c) Manual accounting systems
(d) Reduced mobile payment usage
Answer: (b) Increasing blockchain adoption

17. Which of the following is an example of a digital payment gateway?


(a) PayPal
(b) LinkedIn
(c) Dropbox
(d) Yahoo Finance
Answer: (a) PayPal

18. The primary role of Artificial Intelligence in FinTech is to:


(a) Automate financial decision-making
(b) Perform manual calculations
(c) Develop marketing campaigns
(d) Manage physical assets
Answer: (a) Automate financial decision-making

19. What is a potential downside of FinTech solutions?


(a) Enhanced customer service
(b) Risk of cybersecurity threats
(c) Faster transactions
(d) Better accessibility
Answer: (b) Risk of cybersecurity threats

20. Which of the following best describes the use of distributed ledger technology (DLT)?
(a) Centralized financial control
(b) Peer-to-peer transaction validation
(c) Offline banking transactions
(d) Manual record keeping
Answer: (b) Peer-to-peer transaction validation

21. InsurTech refers to:


(a) Investment strategies
(b) Technological advancements in the insurance industry
(c) Stock market trading
(d) Retail banking solutions
Answer: (b) Technological advancements in the insurance industry

22. What is a key advantage of mobile payments?


(a) High transaction charges
(b) Cashless convenience
(c) Slow processing
(d) Paper receipts
Answer: (b) Cashless convenience

23. Which of the following financial services heavily uses AI-driven chatbots?
(a) Retail banking
(b) Loan disbursement
(c) Asset management
(d) Investment banking
Answer: (a) Retail banking

24. FinTech regulations in India are primarily governed by:


(a) RBI
(b) SEBI
(c) Both A and B
(d) NITI Aayog
Answer: (c) Both A and B

25. Which factor drives the adoption of FinTech among consumers?


(a) High complexity
(b) Convenience and accessibility
(c) Limited transparency
(d) Poor data security
Answer: (b) Convenience and accessibility

26. The key benefit of Big Data in financial institutions is:


a) Eliminating cyber threats
b) Providing valuable insights and predictions
c) Reducing cloud storage needs
d) Increasing paper documentation
Answer: b) Providing valuable insights and predictions

27. Smart contracts are powered by which technology?


a) Artificial Intelligence
b) Cloud Computing
c) Blockchain
d) Big Data
Answer: c) Blockchain

28. Which cloud computing model is most commonly used in FinTech? a) Infrastructure
as a Service (IaaS)
b) Platform as a Service (PaaS)
c) Software as a Service (SaaS)
d) Hardware as a Service (HaaS)
Answer: c) Software as a Service (SaaS)

1.

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