CBP - Certified Bitcoin Professional History and Properties of Money Questions and Answers

Question 1

Which of the following is NOT considered a primary function of money?

Accepted Answer

Speculation

Answer

Medium of Exchange

Answer

Unit of Account

Answer

Store of Value

Question 2

A software developer in Canada is paid in Bitcoin by a client in Japan. This transaction primarily highlights which property of money that Bitcoin excels in?

Accepted Answer

Portability (Salability across space)

Answer

Durability

Answer

Divisibility

Answer

Scarcity

Question 3

The historical progression from barter to commodity money, such as shells or salt, was primarily a solution to which problem?

Accepted Answer

The double coincidence of wants

Answer

The problem of inflation

Answer

The lack of government oversight

Answer

The need for a durable store of value

Question 4

Which property of money ensures that one unit of the currency is interchangeable with another unit of the same value?

Accepted Answer

Fungibility

Answer

Divisibility

Answer

Portability

Answer

Durability

Question 5

The concept of 'salability across time' is most closely related to which function of money?

Accepted Answer

Store of Value

Answer

Medium of Exchange

Answer

Unit of Account

Answer

Means of Payment

Question 6

When the United States officially abandoned the Gold Standard in 1971, the US dollar became what type of money?

Accepted Answer

Fiat Money

Answer

Commodity Money

Answer

Representative Money

Answer

Cryptocurrency