Question 1

Virtual currency has legitimate uses. Laws that apply to virtual currency include all of the following except​

Accepted Answer

A)   ​federal registration requirements.
B)   ​state licensing requirements.
C)   ​the proposed uniform Regulation of Virtual Currencies Act.
D)   ​the Federal Deposit Insurance Corporation regulations.E) A) and B)
F) A) and C)

Question 2

​Mobile payment and digital wallet services include Apple Pay, Google Wallet, and Samsung Pay. The ultimate goal of these payment systems is to

Accepted Answer

A)   ​link from a digital wallet to another app within a single phone.
B)   ​entail more security risks than carrying a physical wallet.
C)   ​communicate wirelessly with point-of-sale systems.
D)   ​work with existing magnetic-strip credit-card machines.E) A) and B)
F) C) and D) A

Question 3

Transactions in virtual currency do not require financial institutions, and can be conducted anonymously. With these features of virtual currency in mind, the most ethical action a user can take is to​

Accepted Answer

A)   ​protect himself or herself.
B)   ​avoid the use of virtual currency entirely.
C)   ​use virtual currency exclusively.
D)   ​take advantage of those who are not aware of how virtual currency is used.E) C) and D)
F) B) and D) A

Question 4

Apple Pay and other phone-based payment systems enable mobile devices to​

Accepted Answer

A)   ​link from a digital wallet to another app within a single phone.
B)   ​entail more security risks than carrying a physical wallet.
C)   ​communicate wirelessly with point-of-sale systems.
D)   ​work with existing magnetic-strip credit-card machines.E) A) and D)
F) None of the above

Question 5

A digital invoice is​

Accepted Answer

A)   ​an electronic version of a paper bill that can be paid online.
B)   ​an online view of a paper bill that cannot be paid online.
C)   ​a statement for a subscription service that makes B2B payments.
D)   ​a supplemental record of a transaction payment.E) B) and D)
F) B) and C)

Question 6

Virtual currency is stored in a digital wallet and identified by public keys. To access virtual currency requires corresponding sequences of private keys. Unlike real currency, virtual currency is​

Accepted Answer

A)   ​not issued or backed by any government or bank.
B)   ​subject to special digital transaction fees.
C)   ​risk-free.
D)   ​required to be accepted in payment or exchange.E) A) and B)
F) A) and C)

Question 7

Businesses have been required to switch to digital invoices in​

Accepted Answer

A)   ​the European Union.
B)   ​the United States.
C)   ​countries that host the Association of Financial Professionals.
D)   ​the home regions of cloud-based companies.E) A) and C)
F) A) and B) A

Question 8

Virtual currency is a medium of exchange that operates like a currency in some environments. In other words, more precisely, virtual currency is​

Accepted Answer

A)   ​digital money.
B)   ​coins and bills.
C)   ​checks, notes, and other negotiable instruments in paper form.
D)   ​all of the choices.E) All of the above
F) None of the above

Exam 56: Negotiable Instruments

Virtual currency has legitimate uses. Laws that apply to virtual currency include all of the following except

Correct Answer
verified

Mobile payment and digital wallet services include Apple Pay, Google Wallet, and Samsung Pay. The ultimate goal of these payment systems is to

Correct Answer
verified
A

Transactions in virtual currency do not require financial institutions, and can be conducted anonymously. With these features of virtual currency in mind, the most ethical action a user can take is to

Correct Answer
verified
A

Apple Pay and other phone-based payment systems enable mobile devices to

Correct Answer
verified

A digital invoice is

Correct Answer
verified

Virtual currency is stored in a digital wallet and identified by public keys. To access virtual currency requires corresponding sequences of private keys. Unlike real currency, virtual currency is

Correct Answer
verified

Businesses have been required to switch to digital invoices in

Correct Answer
verified
A

Virtual currency is a medium of exchange that operates like a currency in some environments. In other words, more precisely, virtual currency is

Correct Answer
verified

Exam 56: Negotiable Instruments

Virtual currency has legitimate uses. Laws that apply to virtual currency include all of the following except​

Correct AnswerverifiedShow Answer

​Mobile payment and digital wallet services include Apple Pay, Google Wallet, and Samsung Pay. The ultimate goal of these payment systems is to

Correct AnswerverifiedA

Transactions in virtual currency do not require financial institutions, and can be conducted anonymously. With these features of virtual currency in mind, the most ethical action a user can take is to​

Correct AnswerverifiedA

Apple Pay and other phone-based payment systems enable mobile devices to​

Correct AnswerverifiedShow Answer

A digital invoice is​

Correct AnswerverifiedShow Answer

Virtual currency is stored in a digital wallet and identified by public keys. To access virtual currency requires corresponding sequences of private keys. Unlike real currency, virtual currency is​

Correct AnswerverifiedShow Answer

Businesses have been required to switch to digital invoices in​

Correct AnswerverifiedA

Virtual currency is a medium of exchange that operates like a currency in some environments. In other words, more precisely, virtual currency is​

Correct AnswerverifiedShow Answer

Virtual currency has legitimate uses. Laws that apply to virtual currency include all of the following except

Correct Answer
verified

Mobile payment and digital wallet services include Apple Pay, Google Wallet, and Samsung Pay. The ultimate goal of these payment systems is to

Correct Answer
verified
A

Transactions in virtual currency do not require financial institutions, and can be conducted anonymously. With these features of virtual currency in mind, the most ethical action a user can take is to

Correct Answer
verified
A

Apple Pay and other phone-based payment systems enable mobile devices to

Correct Answer
verified

A digital invoice is

Correct Answer
verified

Virtual currency is stored in a digital wallet and identified by public keys. To access virtual currency requires corresponding sequences of private keys. Unlike real currency, virtual currency is

Correct Answer
verified

Businesses have been required to switch to digital invoices in

Correct Answer
verified
A

Virtual currency is a medium of exchange that operates like a currency in some environments. In other words, more precisely, virtual currency is

Correct Answer
verified