01. PF Module 02 Quiz

Quiz Summary

0 of 10 Questions completed

Questions:

You have already completed the quiz before. Hence you can not start it again.

Quiz is loading…

You must sign in or sign up to start the quiz.

You must first complete the following:

Results

Quiz complete. Results are being recorded.

Results

0 of 10 Questions answered correctly

Your time:

You have reached 0 of 0 point(s), (0)

Current
Review
Answered
Correct
Incorrect

Question 1 of 10

1. Question
What are the main types of payments systems models?
- A : Closed loop models
- B : Interbank system models
- C : Open loop models
- D : central bank systems models
Correct

Incorrect

Hint

Select all correct answers and click Submit
Question 2 of 10

2. Question
What is abstraction in payment system modeling?
- A : Abstraction is about highlighting the system structure
- B : Abstraction is about presenting the different part of the structure and how they work together
- C : Abstraction is about showing the connections of end parties to the payments system
- D : Abstraction is about hiding unimportant details in order to focus on essential characteristics of a system.
Correct

Incorrect

Hint

Select best answer and click Submit
Question 3 of 10

3. Question
What is the payment system model of a country usually composed of?
- A : Banks and payment service providers
- B : Interbank clearing systems
- C : Central bank systems
- D : Payment products
Correct

Incorrect

Hint

Select all correct answers and click Submit
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.
- B : End parties use intermediaries to transact with the system
- C : End parties sign an agreement directly with the system.
- D : All the three other answers
Correct

Incorrect

Hint

Select all correct answers and click Submit
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.
- B : A bank must become participant of the central bank system used for settlement.
- C : A bank cannot use different payments systems for clearing of the same payment instrument.
- D : A bank can join a payment system only as direct participant.
Correct

Incorrect

Hint

Select all correct answers and click Submit
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.
- B : Join the system as indirect participant, so access the CSM through a major Bank
- C : Join the open loop system as an end party by becoming customer of a Bank / PSP
- D : All the three other answers
Correct

Incorrect

Hint

Select best answer and click Submit
Question 7 of 10

7. Question
On which models do Cryptocurrencies mostly operate?
- A : A combination of open and closed loop models
- B : Closed loop models
- C : Open loop models
- D : All the three other answers
Correct

Incorrect

Hint

Select best answer and click Submit
Question 8 of 10

8. Question
Cryptocurrency systems operate completely autonomously and never use open loop systems
- A : True
- B : False
Correct

Incorrect

Hint

Select best answer and click Submit
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.
- B : Closed loop systems interconnects consumers while open loop systems interconnect merchants.
- C : Closed loop systems are centralized while open loop systems are decentralized
- D : Closed loop systems work better for merchants than open loop systems.
Correct

Incorrect

Hint

Select all correct answers and click Submit
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.
- B : Settlement mechanism is usually implemented in Interbank transfer systems.
- C : Settlement mechanism is implemented in Central bank systems.
- D : Clearing mechanism is usually implemented in Interbank transfer systems.
Correct

Incorrect

Hint

Select all correct answers and click Submit

Payments Fundamentals

01. PF Module 02 Quiz

Quiz Summary

Information

Results

Results

Categories

1. Question

Hint

2. Question

Hint

3. Question

Hint

4. Question

Hint

5. Question

Hint

6. Question

Hint

7. Question

Hint

8. Question

Hint

9. Question

Hint

10. Question

Hint

Contact

Learn more about us

Join our newsletter

Success!

Follow us