Blockchain and Cryptocurrency Training Assessment

1. What is blockchain?

A traditional centralized database A decentralized, distributed ledger technology A social media platform for financial data

2. What is the main difference between public and private blockchains?

Public blockchains are open to everyone; private ones are restricted Private blockchains are faster than public ones Public blockchains require no internet connection

3. Which of the following is a real-world application of blockchain in finance?

Photo editing software Cross-border payments and digital transactions Social media marketing

4. What is the key difference between fiat and cryptocurrency?

Fiat is used only online, while crypto is printed Fiat is government-issued; cryptocurrency is digital and decentralized Cryptocurrency is backed by gold, fiat is not

5. What is a primary legal risk associated with cryptocurrencies?

Slow transaction speeds Use in money laundering and terrorist financing Lack of mobile apps

6. Which two global bodies regulate cryptocurrency risks?

FATF and OFAC IMF and WTO FBI and CIA

7. What is a cryptocurrency exchange's role in financial crime?

Offering savings accounts Preventing internet scams Facilitating anonymous transfers used in illegal activities

8. What is the primary goal of cryptocurrency investigations?

To build new crypto platforms To promote cryptocurrency to the public To trace and recover illicitly used or stolen digital assets

9. What does KYT stand for in crypto compliance?

Keep Your Tokens Know Your Transaction Know Your Team

10. Why is the chain of custody important in investigations?

It helps reduce taxes It preserves the integrity of evidence for court use It tracks cryptocurrency profits

11. Which of the following is a recommended tool for crypto investigations?

Canva QLUE Uber

12. What is DeFi short for?

Default Finance Decentralized Finance Deferred Investments

13. Why are cryptocurrencies attractive to criminals?

They offer low interest rates They can be transacted anonymously They are government-regulated

14. What does the FATF Travel Rule require?

Cryptocurrency traders to report travel history VASPs to share sender and receiver details Banks to freeze crypto wallets

15. Which of these best describes OFAC\'s role in crypto?

Enforcing sanctions and monitoring transactions for compliance Creating new blockchains Offering crypto loans