FIA Financial Technology & Systems

Question 1

What is fintech?

Accepted Answer

Technology-driven financial services

Answer

Financial investment firms

Answer

Traditional banking

Answer

Financial accounting

Question 2

What is blockchain technology used for in finance?

Accepted Answer

Secure and transparent transactions

Answer

Data encryption only

Answer

Bank loans

Answer

Tax filing

Question 3

What is the role of ERP systems in finance?

Accepted Answer

Integrate financial and operational data

Answer

Marketing analysis

Answer

Payroll only

Answer

Customer service

Question 4

How do robo-advisors impact financial management?

Accepted Answer

Automated investment advice

Answer

Manual investment decisions

Answer

Tax audits

Answer

Credit scoring

Question 5

What is the purpose of cloud computing in financial systems?

Accepted Answer

Remote, scalable access

Answer

Local data storage

Answer

Manual data entry

Answer

Paper-based accounting

Question 6

What is cybersecurity’s role in financial systems?

Accepted Answer

Protect data and systems

Answer

Enhance marketing

Answer

Reduce financial reporting

Answer

Increase manual work

Question 7

What does AI enable in financial technology?

Accepted Answer

Predictive analytics and automation

Answer

Manual bookkeeping

Answer

Physical cash handling

Answer

Tax evasion

Question 8

What is the benefit of mobile payments in fintech?

Accepted Answer

Convenience and speed

Answer

Slower payments

Answer

Increased cash use

Answer

Paper checks only

Question 9

What is RegTech?

Accepted Answer

Regulatory technology

Answer

Marketing software

Answer

Financial accounting

Answer

Customer relationship management