Preview Questions FinTech Specialist | Role Specific Skill

Question 1: Which of the following is the most common method used by attackers to exploit weaknesses in financial systems and steal sensitive data?

Which action should you take?

Choose only one option

Brute force login attempts

Man-in-the-middle attacks

Phishing and social engineering attacks

Distributed Denial of Service (DDoS) attacks

Question 2: In the context of blockchain scalability, what is the solution provided by "sharding"?

Which action should you take?

Choose only one option

Increasing the number of nodes on the blockchain network

Reducing the complexity of the consensus algorithm

Using off-chain transactions to reduce congestion

Splitting the blockchain into smaller pieces or shards to increase transaction throughput

Question 3: Which of the following is a primary security feature of "EMV chip" cards used in digital payment systems?

Which action should you take?

Choose only one option

They allow for contactless payments only

They use cloud storage for transaction data

They generate a unique, one-time authentication code for each transaction

They store customer PINs in unencrypted form

Question 4: What does the term "open banking" refer to in the context of financial regulation in the EU?

Which action should you take?

Choose only one option

Allowing consumers to create their own digital wallets

Enabling cross-border payments through centralized systems

Allowing banks to offer cryptocurrencies to customers

Enabling third-party providers to access bank data with customer consent

Question 5: What is the primary advantage of using a "centralized" payment system in the BFSI sector?

Which action should you take?

Choose only one option

It simplifies the reconciliation of cross-border payments

It offers better security and privacy for end users

It allows for faster transaction speeds and improved scalability

It reduces the processing fees for large transactions

Question 6: How does sharding improve blockchain scalability?

Which action should you take?

Choose only one option

By splitting the database across multiple nodes

By parallelizing transaction verification

By increasing block size

By reducing block confirmation times