DeFi Quiz

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DeFi Quiz

Watched the Video on my Channel on Defi ? Great ? Now Test your Knowledge

Which of the following is not a type of StableCoin Category

1 point

Fiat Based

Crypto Based

Algorithm Based

Exchange Based

Clear selection

Which is the most Risk Free ?

1 point

Defi

CryptoCurrency

Government Bonds(Traditional Finance)

Equity Markets

Clear selection

Which of the following Statements is False

1 point

Once uploaded Decentralized Applications (DAPPS) code cannot be removed

Third Party Payment Apps are mandatory to be integrated with DAPPS for Payment handling

DeFi Applications can do Lending, borrowing and Interest Earning as well

DeFi helps to reduce the volatility in the CryptoCurrency Markets

Clear selection

You are a Business Analyst working in a Payments Technology Organization. Your CTO has given a clear direction to move the organization towards start accepting cryptoCurrencies for Payments. You know that CryptoCurrencies are risky for customers.How would you advise the customers keeping in mind the organization's targets ?

1 point

Advise Customers about the benefits of CryptoCurrency and the fact the profit can be made faster using them

Advise Customers about benefits of Defi like fuss free investments, higher interest rates and that only a little amount of their asset value depending upon the risk appetite can be invested in Crypto and from thereon options like Defi can be explored to mitigate risks

Let the Customers decide what is the best for them and do not make any advise as Crypto is a risky affair and you don't want to risk the customer's money

Talk to the CTO and advise him that Crypto and DeFi are still not mature enough to be used by Customers

Clear selection

Pick the Correct choice to complete the statement correctly : A stable coin that has its value pegged at US dollar will

1 point

have the same value as that of the US dollar

need to be registered at an Exchange like SEBI or NASDAQ

can default if the company issuing doesn't have enough funds to back it

Both 1 and 3 are correct

Clear selection

How can you Engage in DeFi

1 point

Lending

Flash Loan

Trading

Savings and Interest

Derivatives

All of the above except Derivatives

All of the Above (1-5) are can be used

Only Lending and Interest is Possible

Clear selection

You Friend Tim said that Ethereum Gas or the Price for a Transaction on Defi can vary so you pay attention while investing in DeFi. What would you do?

1 point

Thank Tim for the advise and look for the gas charges before submitting the transaction. If they are higher then will probably wait and recheck

Ignore Tim as Ethereum Gas Charges are always fixed .

Clear selection

What is a Smart Contract ?

1 point

A Legal Document written and signed by the Coin Issuing Company and the Coin Holder

A computer Program used in Bitcoin to Enable Faster Mining

A computer Program used in DeFi that is stored on Ethereum Blockchain

A compute Program that is a binding agreement to all parties involved in the Blockchain Transaction

Both 3 and 4 are correct

Clear selection

Which of the following statements is TRUE

1 point

Smart Contracts are IF ELSE statements that define the agreement in a Defi Application

Transparency and Anonymity are Key drivers of a DeFi transaction or Application

DeFi Applications are highly regulated by intermediaries just like Exchange Traded Funds

All of the Above

Only. 1 and.2

Clear selection

Crypto backed Stable Coins are riskier than Fiat based Stable Coins.

1 point

True

False

Clear selection

Have you reached this Website and Quiz through my YouTube Channel

0 points

Yes

Clear selection

Submit

Clear form

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