Blockchain in Banking Masterclass Assessment – 1

Please complete the following evaluation assessment of the Blockchain in Banking Masterclass. This assessment consists of 25 questions. You have three (3) chances to take the test and are required to attain a score of 70% or higher to complete the requirements for the Blockchain in Banking Masterclass course.

HINT: You may get different questions each time you do the test, and the correct answers are shown after each question, to help you.

Good Luck!
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1. Are there any specific conditions for using Blockchain technology in an organization?

 
 
 
 

2. Why is blockchain sometimes called a “trustless” network? (Mark all that apply)

 
 
 
 

3. What is the first consideration when commencing a blockchain project?

 
 
 
 

4. True or False: A permissioned blockchain has properties of both private and public blockchains.

 
 

5. Banks (or a grouping of Banks and organisations) will often choose two of the following blockchain types, when creating a shared, common platform, such as  a Trade Finance platform, involving multiple, untrusted parties . These are called _________ blockchains and __________ blockchains

 
 
 
 

6. Which of the following examples would you consider to be successful implementations of blockchain? (All the examples below are real-world examples)

 
 
 
 

7. What type of blockchain has the least restrictions on who may access it?

 
 
 
 

8. The start of a successful blockchain project begins __________

 
 
 
 

9. Blockchain records are added sequentially (one after the next) into a ‘chain’ so each record is linked to the previous one. Complete the following sentence. Each new record is linked ______

 
 
 
 

10. Each data block of a blockchain consists of which of the following elements?

 
 
 
 

11. What sort of information is contained in the blockchain ‘Ledger’?

 
 
 
 

12. What is a blockchain Mining?

 
 
 
 

13. Which parties would normally have access to a PUBLIC blockchain?

 
 
 
 

14. Peer-to-peer blockchain networks have centralized points of vulnerability that computer hackers can exploit

 
 

15. Once a record is successfully lodged on a blockchain, can that record be altered? (Select the two applicable answers)

 
 
 
 

16. Which statement best describes how blockchain works?

 
 
 
 

17. Which word below describes the permanent, tamper-proof nature of a blockchain record or set of records?

 
 
 
 

18. The first step to implementing a blockchain project starts _______

 
 
 
 

19. Blockchains are comprised or made up of blocks of information linked in a sequential chain. Which of the following elements would be found in each blockchain block?

 
 
 
 

20. Ripple’ has been adopted by many banks around the world, where it acts as both Cryptocurrency and a Digital Payment Network for cross-border Financial transactions. Which two features are proprietary to Ripple Networks?

 
 
 
 

21. Permissioned blockchains are a popular choice in Banking thanks to their ability to allocate specific permissions to various users on the network.

 
 

22. In blockchain, ‘Nodes’ are an important component part of each blockchain network. What is a Node?

 
 
 
 

23. How could an information leak from an insecure data network impact an organisation? Select all that apply

 
 
 
 

24. What is meant by a blockchain “Proof of Stake”?

 
 
 
 

25. Is it possible to program a blockchain to record transactions automatically?

 
 
 
 


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