1. What are the major technological trends not materially influencing the provision of financial services? a.The development of internet communication technology b.The advancement of mobile smart phones cThe blockchain technology d.Big data e.Green energy and battery technology

2. What are the main frictions that limit the financial market development? Which one of the following is not the explanation?

a. Information asymmetry

b. agency problem

c. lemon problem and adverse selection

d. efficient market

e. bank run

3. How do machine learning and advanced deep learning related to pattern recognition and decision making relate to financial services? Which one of the following is not the explanation?

a. Better process

b. Improved decision making

c. automation of labor work

d. cost reduction

e. customer acquisition

4. How are open API initiatives influencing marketing channels & customer processes for financial services? Which one of the following is not the explanation?

a. Introduction of competition

b. New business opportunities

c. Data sharing and improved customer experience

d. Enhanced privacy protection

e. Service and product cross sale

5. What are tradeoffs of utilizing permissioned vs. permissionless payment applications? Which of the following is not correct?

a. Efficiency

b. Energy consumption

c. Decentralization

d. inclusiveness

6. What are the design features of Bitcoin, the first use case for blockchain technology? Choose the one not belonging to design features?

a. cryptography

b. append-only timestamped blocks

c. distributed consensus algorithms

d. networking of ledgers

e. Cloud computing

7. What is the double-spending problem and how it is addressed by blockchain technology? Which of the following is not related?

a. When no central party to verify a balance, users may overspend

b. Blockchain uses consensus to address this

c. Proof of work to verify

d. Byzantine general problem and broadcast of each transaction

8. What are smart contract platforms such as Ethereum? What generally distinguishes them from Bitcoin? Which of the following is not related?

a. Smart contracts are algorithm based and executed automatically

b. Turin complete

c. Proof of stake

d. Open-source platform allows for further adoption and development

9. What attributes help distinguish successful ICOs? Why have so many ICOs failed? Which of the following is irrelevant or incorrect?

a. ICO raises native tokens such as ETH or BTC

b. ICOs are often very early stage projects

c. Quality of ICOs is hard to verify

d. ICOs issue coins that is often subject to speculations

e. ICOs are regulated by securities authorities

10. How critical are the technical and commercial challengesscalability, efficiency, privacy, security, interoperabilityof current blockchain technology?

a. Current blockchain technology needs to improve efficiency

b. Interoperability is major technological barrier for blockchain

c. Privacy is well protected in blockchain

d. Blockchain technology will achieve both scalability and efficiency when more users are adopting it.