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What does 'Fintech' stand for?

A) Financial Technology

B) Finance Terminology

C) Financial Technique

D) Future Technology

Fintech encompasses technologies like digital payments, decentralized finance (DeFi), and robo-advisors.

True

False

Which of the following is a primary advantage of Fintech in modern economies?

A) Reduces government control

B) Enhances financial inclusion and accessibility

C) Reduces the number of financial transactions

D) Increases financial secrecy

Which Fintech innovation allows users to access decentralized financial services without traditional banks?

A) Digital Wallets

B) Decentralized Finance (DeFi)

C) Mobile Banking

D) Stock Market Apps

The introduction of Fintech has made banking services accessible only to large corporations.

True

False

What is one key challenge facing the Fintech industry?

A) Lack of technological advancements

B) Regulatory hurdles and privacy concerns

C) Limited scalability

D) Slow transaction speeds

What does DeFi stand for in the context of Fintech?

A) Digital Financing

B) Decentralized Finance

C) Distributed Funding

D) Dedicated Finance

Digital payments through Fintech platforms like PayPal and Venmo have significantly reduced the reliance on cash.

True

False

Which of the following best describes the role of blockchain in Fintech?

A) A payment method for physical goods

B) A public ledger technology used to secure and validate transactions

C) A type of cryptocurrency used only by large institutions

D) A traditional banking system used in fintech platforms

Robo-advisors in Fintech offer automated, algorithm-driven financial planning services without the need for human intervention.

True

False

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