1.
a.
b.
c.
What is the main advantage of stable coins over general crypto‐assets?
Provides utility functions besides it can be used for payments
Price volatility is generally lower
Provides faster execution time for transactions
2.
a.
b.
c.
What can be potential consequence if a regulatory authority restricts innovation
Consumer protection issues could rise.
Fintech firms could get an unfair advantage over incumbents
Losing control as innovation and customers may abandon domestic services
3. According to McKensey Fintech landscape which of the following statement is the most
appropriate?
A. Most of innovation in the large corporate segment focuses on lending
B. Payment innovations have the highest share in every consumer segment analyzed.
C. Innovation for retail customers with focus on capital markets are the most significant by their
numbers.
4. Who created the RICE and DICE models.
a. Fran Ramsey
b. Paul Romer
c. William Nordhaus
d. Robert solow
5.
a.
b.
c.
d.
Which is the benchmark period in RICE climate model radiative forcing function?
Pre‐Industrial
Pre‐Hellenic
Pre‐Classic
Pre‐Agricultural
6.
a.
b.
c.
Which statement is correct about MNB regulatory Sandbox?
Start up companies or non licenced firms are not able to participate in it
Prevents excessive risk taking by setting limit for participants on the number of clients
Applicants are not able to test innovative customer identification solutions
7.
a.
b.
c.
How can Bitcoin be defined using BIS money flower?
It’s a central bank issued, digital, widely accessible but non peer to peer currency
It’s a non central bank issued, digital, peer to peer and widely accessible currency
It’s a non‐central bank issued, peer to peer, digital but not widely accessible currency
8.
a.
b.
c.
Select the correct statement regarding GDPR
The abbreviation stands for General Data Privacy Regulation
It applies to all companies in the EU
It applies only to Hungarian companies
9. Hat is NOT a general function of innovation Hubs?
a. Giving financial contribution to the licensing processes
b. Helping innovators in interpreting the legal framework
c. Assessing the need for amending legislation in place
10. Select the correct statements about cloud services and cloud computing
a. A use of cloud service providers can increase transparency and regulatory oversight of financial
institutions
b. In a platform as a service (pass) model complete application run in the loud and offered as a
service
c. In a private cloud computing resources are used solely by one single organization either
physically in the company’s on site data centre(s) or externally with the third party provider.
Which statement is appropriate about fintech unicorns?
a. A Unicorn is a privately held start up valued at over $1 billion. Most of the Fintech Unicorn are
based in Asia
b. A Unicorn is a privately held start up valued at over $1 Million Most of the Fintech Unicorn are
based in the USA
c. A Unicorn is a privately held start up valued at over $1 billion. Most of the Fintech Unicorn are
based in the USA
The payment market is strongly characterized by network effects. What is NOT considered a
consequence of this peculiarity?
a. High market concentration
b. Low market entries barriers partly in connection with economic scales.
c. Suboptimal level of investment
What is the most appropriate statement regarding customer payments habits in Europe.
a. In countries with the most developed payment systems annual growth in numbers of card
payments is around 20%
b. Card Usage in southeastern countries is rather moderate, but significant improvements can be
seen
c. Finland was the most developed country in 2018 in number of yearly card payments per capita
What can be a major benefit for corporates if they are using TransferWise infrastructure?
a. Enabling rapid efficiency gains in their workflow
b. Application of a transparent pricing policy for their customers
c. Continuous assistance in their growth strategy
Select a FALSE statement about bank’s competitive position regarding digitalization
a. The potential persistence of the low interest rate environment underline the need to improve
the bank’s operational efficiency
b. Most of the banks can implement new technologies efficiently as their it systems are flexible
and scalable
c. Up until the end of the 20th century, the banking system spearheaded the use of technological
innovations
What expression is define as “An ecosystem comprised of applications built on top of public distributed
ledgers for the facilitation of permissionless financial services?
a. Peer to peer trading platform
b. Decentralized finance
c. Initial coin offerings
Select the FALSE statement about the Fintech company called XERO
a. A xero is active in New Zeland, Australia and the United Kingdom.
b. Xero has more than 2 million subscribers
c. Xero is a cloud based financial management platform for individual
Which of the following is not consider as a potential negative consequence of the financial system if the
central bank digital currency is launched
a. Monetary policy has less room for maneuver
b. Less room for fiscal stimulus within the economy
c. Central bank takes on credit risk on its balance sheet
What type of environmental intervention does the RICE model assume?
a.
b.
c.
d.
Locally varying renewable energy support systems
Globally unified carbon quota trading system
Regionaly isolated carbon quota tranding systems
Global emissions commitment systems
What is a demilitarized zone in IT network security
a. A network security system for monitoring and controlling network traffic
b. A system which applies predetermined security rules
c. A screened subnet attached to a firewall
Select the false statement on the possible effects of digitalization for the banking sector
a. Due to innovations banking services could become more transparent for customer
b. Improvements in cost and operational efficiency could undermine financial stability
c. Use of advanced technologies can optimize decision making processes within banks
What are the elements of the CIA triad in information security
a. Condifentiality, integrity and availability
b. Cybersecurity, identification and authentication
c. Computer security, information protection and administrative controls
According to the finding of global research by MagnaCarta what is the biggest challenge for most of the
fintech?
a. Funding and finance
b. Market competition
c. Achieving scale and reach
Which of the followings is not correct about an innovation hub?
a. Most of the innovation’s hubs are available for unregulated and currently regulated activities as
well.
b. Applicants can get exemptions for compliance with laws effective for financial institutions
c. Useful for relationship building the supervisory authority and the innovator
What discount rate does the RICE model calculate?
a.
b.
c.
d.
Increasing but the rate of growth decrease over time
Decreasing and the rate of decline also decreases over time
Decreasing but the rate of decline increases over time
Increasing and the rate of decline also increase over time
Select the FALSE statement regarding family finances
a. It is a spin‐off company of a Hungarian commercial bank
b. Offers design‐driven mobile banking solutions
c. Focuses mainly on younger customers
Which statements is the LEAST appropriate regarding business model Canvas?
a. A details environmental sectoral and industry conditions and the effects of these on the planned
operation.
b. It is a clear and concise tool to design your business idea
c. Helps to identify and think through the most important elements of the business model
planned.
The RICE model treats fossil fuels as a separate factor of productions
a. Verdadero
b. Falso
At how many interconnected levels does the RICE model examine carbon spread and neutralization
a.
b.
c.
d.
2
1
3
4
Which policy scenario can’t be examined with the RICE model?
A. In a mixed approach some regions optimize carbon interventions based on global welfare,
others on maximizing their own welfare.
B. In a non‐cooperative approach region optimize carbon interventions based on maximizing their
own welfare.
A. Regions don’t apply carbon emissions interventions
B. In a cooperative approach region optimize carbon emissions interventions based on maximizing
global welfare.
Select the correct statement according to financial stability board’s classification on analytical methods
a. Big data analysis always requires artificial intelligence
b. Unsupervised learning is a subset of reinforcement learning mechanisms
c. The categories of machine learning algorithms vary according to the level of human intervention
required in labelling the data.
How is the price of Bitcoun determined?
a. The price is tied to USD
b. Through supply and demand across multiple bitcoin exchanges
c. Determined by the developers of Bitcoin
Which of the following is mostly a pressure on the cost side for banks?
a. Low or negative interest rate
b. Existence of a complex legacy IT architecture
c. Emergence of niche competitors in most profitable segments.
Select the FALSE statement on AI’s impact to operation of financial markets
a. Use of similar AI solutions can decrease market correlation
b. More efficient data processing could reduce information asymmetries
c. Investment and trading strategies can improve with the use of AI.
A factor associated with the widespread adoption of algorithmic trading is increased.
a. trading destinations
b. Average trade sides
c. Market efficiency
According to Yoskovits a good metric is
a. Data oriented comparable, convincing, understandable.
b. Understandable, comparative, a ratio or a rate, behavior changing
c. Comparative, a ratio or rate targeted lean
What is the most appropriate statement regarding regulatory Sandboxes
a. Most of the regulatory sandboxes are available only for companies without financial services
licence
b. Regulatory sandboxes allow fintech innovators to test solutions on real customers
c. Sandboxes encourage video game developers to test applications that could be useful for
finance.
In providing investment services, robo‐advicers are most likely to
a. Be free from regulation when acting as fully automated walth manager
b. Offer fairly conservative advice as easily accessible guidance
c. Rely on their cost effectiveness to pursue active strategies
Text analytics is appropriate for applications to.
a. Economic trend analysis
b. Public but not private information
c. Large, structured dataset.
The main difference between the DICE RICE models is that while the former views the whole world as a
single closed economy, the latter separates individual regions.
a. True
b. False
OTP strengthens the generation of non traditional bank value propositions from several sides. Which of
the following considered as an internal process
a. Operation of venture capital fund.
b. Employee idea contests
c. Start up partnership program
Select the correct statement about OTP bank start up partner program
a. Offers a 6 months pilot for validating the different solutions
b. Opens educative channels to promote innovation within the organization
c. It has an international scope
Innovation on payment markets, which use traditional infraestructures, are at least likely characterized
by.
a. Gaster and in some cases cheaper service
b. Availability of money transfers in regions with underdeveloped financial infrastructure
c. Limited level of competition and innovation.
Which of the following innovations can’t be considered as a disruptive innovation for financial
intermediation?
a. Robo‐advisory
b. Instant payment system
c. Crowdfunding
What does LAN stand for in information technology?
a. Local area network
b. Live available network
c. Local access network
Which is the LEAST appropriate statement regarding central bank digital currencies
a. Deposit collected by central banks can directly affect the behavior of market players
b. Interest rate paid after a central bank digital currency diminishes internal lag in policy rate
setting mechanisms
c. There assets may increase the effectiveness of monetary policy in negative interest rate
environments.
Which of the following is not a cryptocurrency
a. Coincash
b. Tether
c. Ethereum
According to OTP what is not considered a major reason for their agile transformation
a. Faster and more efficient reactions to the market trends
b. Better serving of ever‐changing needs of customers
c. Better integration of digital technologies into operations.
In the use of machine learning
a. Some techniques are termed black box due to data bases
b. Training data can be learned too precisely, resulting in inaccurate predictions when used with
different datasets
c. Human judgment is not needed because algorithms continuously learn from data.
What is a distributed ledger technology (DLT) application suited for physical assts?
a. Tokenization
b. Cryptocurrencies
c. Permissioned networks
Which are the 2 highest valued fintech unicorns worldwide as of November 2019
a. Stripe and transferwise
b. Robinhood and revolut
c. Lu.com and stripe
Choose the country with the largest customer base of fintech companies
a. India
b. USA
c. China
What is the most appropriate statement regarding regulatory Sandboxes
a. A regulatory sandbox is a community space where fintech innovators can test their business
model using technologies and share their knowledge with others
b. A regulatory sandbox can be an efficient framework for start uo to asses the growth potential of
the solution planned
c. A regulatory sandbox typically issue guidance to help fintech star ups in interpreting
corresponding legislation.
Why transferwise international payments can be executed in a short time period?
a. Transparent pricing strategy makes decision making faster for customers.
b. They complete international transfer as domestic one with accounts held at each country
c. Their solutions is integrate into most of the leading global banks core system
Which factor production is affected by climate change in the RICE Model?
a.
b.
c.
d.
Labot
Technology
Energy supply
It affects all factors of production
Which of the following is considered as a global megatrend that can increase demand for chatbots like
talk a bot?
a. Emergence of super apps
b. Rise of international payments
c. Increasing need for cybersecurity
What potential benefits can cryptocurrencies provide?
a. Fast transactions execution due to unlimited supply
b. Direct access to global poll of investors
c. Better understanding of financial markets operations
In the RICE model, changes in the global average temperature cause varying degrees of economic
damage in each region
a. True
b. False
15. Growth stage
1.Which one is not true for Environmental Economics?
-Cost-bearers are the polluters
2.Plan B is about:
-The sustainable future
3.All model results are necessarily contained in the model assumptions.
-True
4.General equilibrium means that on each market demand equals supply.
-True
5.Rocier’s states that there is a tendency in our normally functioning economies for the
increase of banks’ financial assets on non-bank agents.
-False
6.Economic models used in practice to simulate the effects of innovation are not models that
describe our economies.
-False
7.A sole focus on the business enterprise sector.
-True
8.R&D has a sole focus on the business enterprise sector.
-True
9.RICE model assumes a Cobb-Douglas production function.
-True
10.What future global population trajectory does the RICE model calculate?
-constant
-exponentially increasing
-decreasing, but the rate of decline increases over time
-increasing, but the rate of growth decreases over time
11.Which is the benchmark period in RICE Climate Module radiative forcing function?
-Pre agricultural
12.Investors do not want to know what is the distribution strategy of company.
-True
13.If there is a gap in the team, address it explicitly, before investors have to ask about it.
-True
14.Without reasonable protection for their IP, individuals and companies would innovate and
create less.
-True
15.Which one is a definition of applied research?
-The objective is to get complete knowledge and understanding of one special subject IN a
practical situation, to solve a practical problem
16.American universities enjoyed a world-leading status from:
-1960s
17.Main elements of Israel innovation ecosystems are:
-Israeli industry center for R&D
-Israel Export Institute
-National Agency for Industrial R&D
18.China’s annual research spending exceeds $300 billion, slowly but surely catching up with
the US.
-True
19.Which answer is correct:
-An important feature of the Israeli innovation ecosystem is that the STATE has a major role to
play in funding basic research.
20.Postulates can be underpinned theoretically
-False
21.Market economies are subject to double growth imperative stemming form the behavior of
commercial banks and firms.
-True
22.Which statement is true?
C-In the case of weak sustainability, manufactured capital of equal value CAN take the place of
natural capital
23.Innovation allows for extra-profit.
-True
24.A part of R&D is to devise new applications available knowledge
-True
25.A comparison of the scenarios showed that all regions were interested in cooperation.
-True
26.Oikonomia means spending money to acquire more money.
-False
27.Which policy scenario cannot be examined with the RICE model?
D-in a mixed approach, some regions optimize carbon interventions based on global welfare,
others on maximizing their own welfare
28.The RICE model uses the generalized consumption concept.
-True
29.What discount rate does the RICE model calculate?
-increasing, but the rate of growth decreases over time
30.Crowdfunding serving as a “bridge” for entrepreneurs and funds, enables fund-seekers to
overcome these limitations by making use of the Web 2.0 applications.
-True
31.A company do not need highly experienced and well-qualified manpower to do the research
and development.
-False
32.Growth stage is the initial funding used to establishing a business, or creating a new product
or service
-False
33.Which one CANNOT be the level of sustainable development?
-intragenerational
34.The winner takes all principle is true in market economies because the labor is scalable for
the entrepreneur
-True
35.Basic types of innovation according to the Schumpeterian concept, which one is NOT true:
-Pricing
36.Which answer is correct?
- The first phase of the US innovation ecosystem began in the 1870s
37.In 2015, China launched a pioneering program called:
- Mass Entrepreneurship and Innovation.
38.Main characteristics of innovation, which two is not true?
- associated with uncertainty, an investment need
- having negative spillover-effect
39.What are the key players in the US innovation ecosystem?
- large corporations and their corporate labs
- universities and other public research institutions, such as the Federal labs and the National
Institute of Health
40.In China, high-tech parks account for nearly … of R&D investments by all the country’s
enterprises
-40%
41.The typically large amount (few million dollars) of crowdfunding investment allows more
and more people to try themselves as investors.
-False
42.Which one CANNOT be a solution for closing the open loops of the economy?
- Keeping useful products in use for shorter
43.China is seeing rapid development in more than … high-tech parks and independent
innovation demonstration zones.
-130
44.Silent evidence is facts that we cannot see, but falsify beliefs.
-True
45.Money creation is central because the implementation of innovation is generally required.
-True
46.The main difference between the DICE and RICE models is that while the former views the
whole world as a single closed economy, the latter separates the individual regions.
-True
47.Investors should be confident that there is a good credible core group of talent that believe
in the company and can execute the next set of milestones.
-True
48.Rachel Carson’s silent spring (1962) was about:
- DDT
49.What type of environmental intervention does the RICE model assume?
-Locally varying
-Global emissions
-Globally unified
-Regionally isolated(probably)
50. Which ARE the core criteria of R&D activity?
- novel
-creative
-uncertain
-systematic
-transferable and/or reproducible.
51.The present level of resource consumption is already ecologically unsustainable.
-True
52. The digital economy has given rise to many new forms of financing and has added new roles
to classic forms of financing.
-True
53.Environmental economics is focusing on the …
- relationship and interactions of the society and environment
54.Main criteria of Disruptive innovation, which one is NOT true?
-Incumbent firms have not enough resources to respond to disruptive technologies
55.Which sentence is correct?
- Venture money is not long-term money
56.Which of the following innovations cannot be considered as a disruptive innovation for financial
intermediation?
-instant payment(probably)
-robo-advisory
-crowdfunding
57.The objective of basic research is to get complete knowledge and understanding of a particular
situation.
-False
58.How long is a period in the RICE model?
-10 years
59.Chrematics means spending money to satisfy needs.
-True
60.Though innovation is not up to choice, fostering innovation is up to choice.
-True
61.Which statement is not true for climate innovation?
-Climate innovations are usually associated with adaptation activities
62.The results of the RICE model show that reducing CO2 emissions had a greater welfare-enhancing
effect on developed countries than in developing ones.
-False
63.Which factor of production is affected by climate change in RICE model?
-Energy supply
64.Use photos, diagrams and videos to demonstrate your product during VC presentations.
-True
65.Models in practice are generally based on some correlation between money spent on innovation and
productivity or GDP growth.
-True
66.Second order disruption might arise from the adoption of a first order disruption into many different
markets and industries.
-True
67.Which answer is correct?
The U.S. system of intellectual property protection has its roots in the U.S. Constitution
68.Which one is NOT a type of R&D?
-day to day application
69.The second Venture Capital firm was American Research & Development Corporation (ARD),
founded in 1946 by the famous Harvard business School professor georges Doriot.
-False
70.The original RICE model examines global economic output by 2050.
-False
71.Compared to other nations, the U.S. regulation system erects few barriers to entry for firms
to break into existing markets and relatively easy to start a new business.
-True
72.The Business Plan cover sheet shouldn’t include the company name.
-False
73.Ecological economics considers the socio-economic system as …
- as a part (or subsystem) of the biosphere
74.The results of the RICE model show that carbon reduction policy interventions cannot stop
global temperature rises, but reducing emissions has significant global economic benefits.
-True
75.Business angels are natural informal investors that, unlike their VC counterparts, tend to
operate in a wider industry sector spectrum and who mostly invest during a company’s early
stages.
-True
76.Crowfunding as we know it today kickstarted in 1997 when fans donated $60k online to the
British rock band Marillion to fund the band’s reunion tour.
-True
77.Important elements of a business plan:
-Executive summary
-cover sheet
78.(General) crisis is a situation where there exists at least one economic agent who … her
plans.
-True
79.Acording to William Nordhaus, the oil crisis has highlighted the need to change the modeling
approach from a spaceship economy to a cowboy economy.
-False
80.The products or services description of your Business Plan should include why your product
new or just unique?
-True
81.Which is usually called the fourth pillar of sustainability?
-institutional
82.The RICE model treats fossil fuels as a separate factor of production.
-True
83.Use technical or industry jargon during VC presentations.
-False
1. Capital efficiency can be increased by the division of labour/ increase of
production.
True
False
2. Second order disruption might arise from first order disruption into many different
markets and industries.
True
First‐order: localized disruptions within a market or industry.
Second‐order disruption is broader: resulting either from the clustering of numerous
first‐ order localized disruptions or from the adoption of a first order disruption into
many different markets and industries.
3. R and D has a sole focus on the business enterprise sector.
True
4. How long is a period in the RICE (Regional Integrated Climate Economy) model?
one year
half year
5 years
10 years
5. What future global population trajectory does the RICE model calculation?
Decreasing, but the rate of decline increases over time
Exponentially increasing
Constant
Increasing, but the rate of growth decreases over time
6. Business angels are natural informal investors that, unlike their VC counterparts,
tend to operate in a wider industry sector spectrum and who mostly invest during a
company’s early stages.
True
7. Economic models used in practice to simulate the effect of innovation are not
models that describe our economies.
True
8. A part of RandD is to devise new applications of available knowledge.
True
9. A sole focus on the business enterprise sector.
True
10. Which scenario can not be examined with the RICE model?
mixed approach
11. RICE model uses generalized consumption concept.
TRUE
12. Which one CANNOT be the level of sustainable development?
Intragenerational
The levels are: ( Global, Regional, Interregional, Local )
13. Which one is NOT true for environmental economics?
Cost bearers are the polluters.
14. Market economies are subject of double growth imperative stemming from the
behaviour of commercial banks and firms.
True
15. The winner takes all principle is true in market economies because labour is
scalable for the entrepreneur.
True
16. Which one can not be a solution for closing the open loops of the economy?
Keeping useful products in use for shorter
The right solutions are for closing the loops:
1. Decreasing the input
2. Improving the product/waste ratio
3. Keeping useful products in use for longer
4. Reusing products
5. Recycling
6. Neutralising the harmful effects of waste
17. General equilibrium is
General equilibrium: demand=supply for all commodities (i.e. on all markets)
18. Though innovation is not up to choice, fostering innovation is up to choice.
True
19. (General) crisis is a situation where there exists at least one economic agent who
is unable to realise her plan.
True
20. Normal functioning of the economy
situation that abides the theoretical possibility of agents’ realizing all their plans
21. Plan B is about
the sustainable future
22. Which statement is true?
‐In the case of strong sustainability, the manufactured capital of equal value can take
the place of natural capital.
‐In case of weak sustainability, the manufactured capital of equal value can take the
place of natural capital.
‐In case of strong sustainability, , the manufactured capital of equal value can NOT
take the place of natural capital.
‐In case of weak sustainability, , the manufactured capital of equal value can NOT
take the place of natural capital.
Strong sustainability: The existing stock of natural capital must be maintained and
enhanced because the functions it performs cannot be duplicated by manufactured
capital
23. Oikonomia means spending money to acquire more money.
False
OIKONOMIA : wealth used for satisfacion of human needs, wealth accumulation for
the purpose of satisfying human needs commodity transformation for the purpose of
satisfying human needs
CRHMATISTIKÉ: wealth used for acquiring more money
24. Crowdfunding serves as a "bridge" for entrepreneurs and funds, enables fund
seekers to overcome those limitations by making use of the web 2.0 application
True
25. A company do not need highly experienced and well‐qualified manpower is
required to do the research and development.
FALSE
26. Growth stage is the initial funding used to establishing a business, or creating a
new product or service.
False
• Seed stage: it is the initial funding used to establishing a business, or creating a new
product or service.
• Early stage: venture investors focus to taking a company that has successfully
proven its concept to accelerate their sales and marketing efforts.
• Growth stage: Growth of companies is often exponential by this stage and VC
funding serves as a tool to enabling expansion to additional markets and
diversification of product lines.
27. The RICE model assumes a Cobb‐Douglas production function.
True
28. Rosier's states that there is a tendency in our normally functioning economies for
the increase of bank's financial assets on non financial agents.
False
29. China is already a world leader in promoting innovation. The country's annual
research spending exceeds $ 300 billion, slowly but surely catching up with the
United States.
30. In 2015, China launched a pioneering program called Mass Entrepreneurship and
Innovation.
31. China is seeing rapid development in more than 130 high‐tech parks and
independent innovation demonstration zones. These parks and zones, accounting for
less than 1% of China's territory, account for nearly 40% of R&D investment by all the
country's enterprises. As well as 32.8% of revenue from sales of new products.
32. Who created the RICE and DICE model?
William Nordhaus
33. Use technical or industry jargon during VC presentation.
FALSE
34. Postulates can be underpinned theoritically.
False
35. Basic types of innovation according to the Schumpeterian concept.
Product
Marketing
Pricing is NOT!
Process
36. Main elements of the Israel Innovation ecosystem are:
 Israeli Industry Center for R&D;
 Israel Export Institute
 National Agency for industrial R&D
37. What are the key players in the U.S. innovation ecosystem?
‐large corporations and their corporate labs
 universities and other public research institutions, such as the Federal labs and the
National Institute of Health
 individual inventors, small firms and science‐based start‐ups.
As Christopher Freeman defined it, a national innovation system is "the network of
institutions in the public and private sectors whose activities and interactions initiate,
import, modify and diffuse new technologies.
Influencing factor : Trade, Tax, and Regulatory Environment