Fintech

The _____ Act aimed to help businesses raise funds in public capital markets by minimizing regulatory requirements.

JOBS

Funding U was founded by _______.

Jeanne Tarkenton

According to Robert Merton, which of the following is not a substitute for trust?

complexity

According to Merton, as technology becomes more complex and opaque, the values of trust as an asset _____.

increases

The Securities Act of 1933 _______.

prohibited deceit, misrepresentation, and other fraud in the sale of securities

In Bitcoin, the private key is a randomly selected integer between 0 and _______.

1.15 * 10^77

When miner earns new Bitcoin it cannot be transferred until _____ new blocks have been created.

100

According to Larry Wall's June 2018 post, Visa is capable of handling _____ transactions per second and bitcoin can handle _____ transactions per second.

24,000; 7

As of the taping of this semester's interview, small businesses may borrow up to $______ from Kabbage.

250,000

A Bitcoin miner will earn _____ BTC (as of September 2020) for being the first miner to find an acceptable hash for a new block.

6.25

Not all securities offerings must be registered. Which of the following is most likely to be exempt?

An offering by the State of Georgia

According to Larry Wall, the most important difference between bitcoin and Ethereum is _____.

Ethereum's blockchain is designed to run smart contracts

The _________ made crowdfunding easier and more effective.

JOBS Act

Kabbage was co-founded by Rob Frohwein and _______.

Kathryn Petralia

The first insurance company was ________.

Lloyd's of London

The ____ family was responsible for the growth of banking in Italy.

Medici

Which of the following is not a potential problem of a blockchain splitting into two blockchains?

Those opposing the split could no longer develop apps.

According to the Robert Merton video. which of the following statements is not true?

Truly transparent services require the most trust.

Nonce means _________.

a random number used once

According to the Robert Merton video, __________ is(are) essential for economic growth and stability.

a well-functioning financial system

Venture debt ___________

allows shareholders to retain a larger percentage of equity but adds risk

Bitcoin is _______.

anonymous

Ethereum was designed to ________.

better run smart contracts

According Luke Timberlake, companies typically raise _________ in the seed round. (Note this is his experience. There are no rules that specify a dollar amount for the seed round.)

between $1 million and $5 million

According Luke Timberlake, some companies are using ___________ to allow financial institutions to trade securitized loans more efficiently.

blockchain technology

FinTech start-ups may benefit by partnering with banks because of all of the following except banks _______.

can move quickly in regard to new ideas

According Luke Timberlake, banks ___________.

can't make a profit on loans under $1 million

According to Merton, regulation exist in part to _________.

create trust

According to the Robert Merton video, the economic and financial crises of the 1970s stimulated all of the following innovations except ____________.

cryptocurrencies

According to the Robert Merton video, financial crises ______ crush financial innovation.

do not always

An advantage to selling utility tokens is that they _________.

effectively amount to the presale of the issuer's forthcoming product

The digital signature scheme in Bitcoin is based on __________.

eliptic curve cryptography

Which of the following describes itself as "a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference"?

ethereum

According Luke Timberlake,___________.

fees and time in payments is a race to the bottom.

According to Merton, _____________ is (are) inherently opaque and cannot be verified.

financial advice

Which of the following is not necessary for a well-functioning economy?

governmental corruption

In the Kabbage video, Rob Frohwen states that capital should have _______, diversity, flexibility, and permanence.

immediacy

Angel investors normally invest ____________.

in the first few rounds of capital formation

After 2007 retail investors moved more money into _____ funds than _____ funds. Merton believes this is due to a _____ in trust.

index; actively-managed; decrease

Which of the following is not a function of money?

inflation indicator

Libra ___________.

is a type of stable coin backed by Facebook

Bitcoin ______.

is an electronic payment system

True learning ___________.

is effortful and requires time

If there is a conflict the community will accept the blockchain that ________.

is the longest

According to analysis by Larry Wall, fractional reserve banking in a particular cryptocurrency would____________.

likely reduce the purchasing power of the cryptocurrency

In the equation, hash(message,R)·Q+R = s·P where R=r·P, Q=n·P, and s = hash(message,r·P)*n + r, ______ is the private key.

n

In the equation, hash(message,R)·Q+R = s·P where R=r·P, Q=n·P, and s = hash(message,r·P)*n + r, the sender of the message must provide all of the following except _________ to the community so that they can verify the equation.

n

A Bitcoin miner changes the ________ randomly to find an acceptable _________.

nonce; hash

The use of ______ governance in blockchain places the ultimate decision on whether or not to adopt a coding change in the hands of the individuals supplying the computing capacity needed to run the blockchain.

off-chain

Banks ___________.

often sell home loans to Freddie Mac

Which of the following is not likely to be a successful use case for cryptocurrencies?

payments when speed of execution is critical, like buying something in a store

Alternative lending platforms ______.

perform the credit underwriting process in near real time

Gould and Fisk ______.

printed fraudulent shares in the Erie Railroad and sold them to Vanderbilt

According to the Robert Merton video, in the 2008 financial crisis there was a loss of trust in the _____ and _____ of financial services.

providers; regulators

Larry Wall suggests that an entrepreneur can encourage an investor to provide funding on more favorable terms by _________.

providing more relevant information to the investors giving the investor greater governance power over management

The verification key is also known as the ______ key.

public

A cryptographic hash function must be all of the following except ________.

quasi-anonymous

Which of the following is not a critical component of effective learning?

reviewing notes

In the early 1800s some traders used _________ to relay stock price information between New York and Philadelphia.

semaphore flags

According to Larry Wall, one should wait for ____ blocks before regarding a bitcoin transaction to be confirmed.

six

According to Larry Wall, for blockchain to be used it must be ___________.

superior for some use cases relative to alternatives

Initial coin offerings _________.

tend to be issued by start-ups rather than mature companies tend to involve the presale of a product to be developed occur on a blockchain

According Luke Timberlake, _________ is(are) developing their own, faster inter-bank payment system.

the Federal Reserve

According Luke Timberlake, ________ allows for the instantaneous transfer of money between two parties.

the SWIFT network

The claim that blockchains are tamperproof and immutable is based on ________.

the costs of rewriting all subsequent blocks would likely exceed the economic benefits

For a FinTech innovation to be successful, ______.

the finance science behind it must be sound the technology behind it must work there must be sufficient economic benefit regulations must allow it

Using the riddle analogy to explain digital signatures in blockchain, which is considered the private key?

the mental ability of the true owner to solve the riddle

To verify a message, the community must have the verification key and be sent ______.

the message and the signed message

According to Robert Merton, to trust a model all of the following must be true except ____.

the model must be complete.

In elipitc curve cryptography, the community knows all of the following except ________.

the number of times that P was added to itself where P is the starting point

The main innovation of Satoshi Nakamoto in Bitcoin is _______.

the prevention of double spending

As of March 2018 ___________.

the question of when ICO issuance becomes a securities offering had not been settled in court

Using the riddle analogy to explain digital signatures in blockchain, which is considered the public key?

the riddle

Using the riddle analogy to explain digital signatures in blockchain, which is considered the signature?

the solution to the riddle

In order to trust a model, Robert Merton claims that one must ________.

trust the motivations of the model's creator trust the competence of the model's creator trust the data

According to Merton, trust in a person requires that the person be______.

trustworthy and competent

Which of the following is not a desirable property of currency?

unitary

Satoshi Nakamoto's true identity is _________.

unknown