01. PF Module 02 Quiz

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Question 1 of 10

1. Question

What are the main types of payments systems models?

A : Closed loop models
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B : Interbank system models
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C : Open loop models
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D : central bank systems models
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Question 2 of 10

2. Question

What is abstraction in payment system modeling?

A : Abstraction is about highlighting the system structure
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B : Abstraction is about presenting the different part of the structure and how they work together
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C : Abstraction is about showing the connections of end parties to the payments system
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D : Abstraction is about hiding unimportant details in order to focus on essential characteristics of a system.
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Question 3 of 10

3. Question

What is the payment system model of a country usually composed of?

A : Banks and payment service providers
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B : Interbank clearing systems
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C : Central bank systems
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D : Payment products
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Question 4 of 10

4. Question

In Closed loop systems, how do end parties interact with the system ?

A : End parties transact directly with the system.
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B : End parties use intermediaries to transact with the system
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C : End parties sign an agreement directly with the system.
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D : All the three other answers
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Question 5 of 10

5. Question

What is true about participation of banks to payment systems?

A : A bank chooses which interbank clearing systems to join as participant.
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B : A bank must become participant of the central bank system used for settlement.
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C : A bank cannot use different payments systems for clearing of the same payment instrument.
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D : A bank can join a payment system only as direct participant.
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Question 6 of 10

6. Question

How can a closed loop system access an open loop system?

A : Join the system as a direct participant.
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B : Join the system as indirect participant, so access the CSM through a major Bank
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C : Join the open loop system as an end party by becoming customer of a Bank / PSP
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D : All the three other answers
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Question 7 of 10

7. Question

On which models do Cryptocurrencies mostly operate?

A : A combination of open and closed loop models
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B : Closed loop models
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C : Open loop models
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D : All the three other answers
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Question 8 of 10

8. Question

Cryptocurrency systems operate completely autonomously and never use open loop systems

A : True
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B : False
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Question 9 of 10

9. Question

What are the major differences between closed loop systems and open loop systems?

A : It is possible for banks and PSPs to join open loop system as intermediary, but not closed loop system.
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B : Closed loop systems interconnects consumers while open loop systems interconnect merchants.
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C : Closed loop systems are centralized while open loop systems are decentralized
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D : Closed loop systems work better for merchants than open loop systems.
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Question 10 of 10

10. Question

Which of the following sentences is true about clearing and settlement mechanism?

A : Clearing mechanism is usually implemented in Central bank systems.
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B : Settlement mechanism is usually implemented in Interbank transfer systems.
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C : Settlement mechanism is implemented in Central bank systems.
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D : Clearing mechanism is usually implemented in Interbank transfer systems.
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01. PF Module 02 Quiz

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