Here are 50+ multiple choice questions (MCQs) with answers based on the provided content related to the Fintech Case Discussion:
Gartner Hype Cycle:
In which phase of the Gartner Hype Cycle are benefits of a technology largely unknown?
- a) Peak of Inflated Expectations
- b) Innovation Trigger
- c) Trough of Disillusionment
- d) Plateau of Productivity
- Answer: b) Innovation Trigger
When do most companies start dropping out of adopting a technology according to the Gartner Hype Cycle?
- a) Peak of Inflated Expectations
- b) Innovation Trigger
- c) Trough of Disillusionment
- d) Plateau of Productivity
- Answer: c) Trough of Disillusionment
In which phase of the Gartner Hype Cycle do imitators appear?
- a) Innovation Trigger
- b) Peak of Inflated Expectations
- c) Plateau of Productivity
- d) Slope of Enlightenment
- Answer: c) Plateau of Productivity
At which stage should a manager adopt a new technology according to the Gartner Hype Cycle?
- a) Innovation Trigger
- b) Peak of Inflated Expectations
- c) Trough of Disillusionment
- d) Slope of Enlightenment
- Answer: d) Slope of Enlightenment
Fintech Background:
What type of business was Fintech originally focused on?
- a) E-commerce
- b) Alcohol payment processing
- c) IT Consulting
- d) Cloud Computing
- Answer: b) Alcohol payment processing
Fintech's first move into the cloud was aimed at improving what?
- a) Customer relationship
- b) Data-driven insights
- c) Payment processing
- d) Sales reporting
- Answer: b) Data-driven insights
EFTPS Process:
What is the role of Fintech in the EFTPS process?
- a) Delivering alcohol
- b) Creating invoices
- c) Transferring payment between retailer and wholesaler
- d) Reporting alcohol sales
- Answer: c) Transferring payment between retailer and wholesaler
If there are insufficient funds in a retailer's account, who pays the wholesaler?
- a) Retailer
- b) Fintech
- c) EFTPS
- d) Government
- Answer: b) Fintech
Data Integration Problem:
What is the key challenge faced by Fintech in its data integration process?
- a) Payment delays
- b) Cloud migration
- c) Data inconsistency in brand naming
- d) Security vulnerabilities
- Answer: c) Data inconsistency in brand naming
How can Fintech solve the data inconsistency problem?
- a) By improving its payment system
- b) By using a Primary Key and Foreign Key
- c) By hiring more developers
- d) By switching cloud providers
- Answer: b) By using a Primary Key and Foreign Key
Cloud Computing:
Which of the following is NOT a feature of Cloud Computing?
- a) Pay-as-you-go
- b) On-demand services
- c) Manual hardware setup
- d) Ubiquitous computing
- Answer: c) Manual hardware setup
Which cloud computing model allows users to access software over the internet on a subscription basis?
- a) IaaS
- b) PaaS
- c) SaaS
- d) DaaS
- Answer: c) SaaS
What does IaaS provide in cloud computing?
- a) Operating system and programming environment
- b) Software subscription service
- c) Virtual machines and storage
- d) Data analysis tools
- Answer: c) Virtual machines and storage
Which of the following is an example of Platform as a Service (PaaS)?
- a) Microsoft Office
- b) Google App Engine
- c) Amazon EC2
- d) AWS S3
- Answer: b) Google App Engine
In the travel industry, which cloud computing service would likely support travel agents with computing infrastructure?
- a) IaaS
- b) PaaS
- c) SaaS
- d) DaaS
- Answer: a) IaaS
Concerns Related to Cloud:
Which of the following is a major concern related to cloud computing?
- a) Increased server cost
- b) Data breaches
- c) Lack of availability
- d) No scalability
- Answer: b) Data breaches
Which of these is a cloud security threat involving unauthorized system access?
- a) Data breaches
- b) Denial of Service (DoS) attacks
- c) Advanced Persistent Threats (APT)
- d) All of the above
- Answer: d) All of the above
Fintech's Cloud Computing Strategy:
Fintech's cloud provider evaluation emphasized the need for:
- a) High data throughput
- b) Low-cost solutions
- c) Customer data security and access controls
- d) On-premise infrastructure
- Answer: c) Customer data security and access controls
Which technology did Fintech use for extracting and processing data in the cloud?
- a) SSIS Packages
- b) SAP
- c) Oracle Cloud
- d) SQL Plus
- Answer: a) SSIS Packages
Which cloud provider was known for offering Redshift, a specialized data warehousing solution?
- a) Google Cloud
- b) Microsoft Azure
- c) Amazon Web Services (AWS)
- d) Oracle Cloud
- Answer: c) Amazon Web Services (AWS)
Big Data:
What is one of the major characteristics of Big Data?
- a) Small-scale storage
- b) Structured and simple
- c) Scale, diversity, and complexity
- d) Requires only simple algorithms
- Answer: c) Scale, diversity, and complexity
Which of the following are the three V's of Big Data?
- a) Volume, Velocity, Variety
- b) Variety, Veracity, Volume
- c) Value, Variety, Volume
- d) Velocity, Veracity, Variety
- Answer: a) Volume, Velocity, Variety
Which of the following describes the purpose of Big Data Analytics?
- a) To find simple patterns in small data sets
- b) To analyze vast amounts of data to uncover hidden patterns and insights
- c) To store data in a compressed format
- d) To visualize only structured data
- Answer: b) To analyze vast amounts of data to uncover hidden patterns and insights
Which type of analytics focuses on predicting future outcomes based on historical data?
- a) Descriptive Analytics
- b) Predictive Analytics
- c) Prescriptive Analytics
- d) Diagnostic Analytics
- Answer: b) Predictive Analytics
1. What is Fintech's primary business focus?
A) Cloud computing
B) Processing electronics payments and reporting U.S. wholesale distributors and retailers of alcohol
C) Developing new AI technologies
D) Manufacturing payment terminals
Answer: B
2. Which process does Fintech use to manage alcohol payments between wholesalers and retailers?
A) PayPal
B) EFTPS (Electronic Fund Transfer Payment System)
C) Blockchain
D) SWIFT
Answer: B
3. What is Fintech’s main challenge in integrating data from wholesalers, retailers, and producers?
A) Lack of cloud adoption
B) Data Integration
C) Slow processing time
D) Customer dissatisfaction
Answer: B
4. What solution does Fintech plan to introduce to help solve its data integration issues?
A) Cloud computing service
B) Payment gateway
C) Blockchain technology
D) A new mobile app
Answer: A
5. Fintech's data inconsistency problem is related to:
A) Incorrect branding names used by producers, wholesalers, and retailers
B) Payment delays
C) Cloud storage costs
D) Lack of customer support
Answer: A
6. Fintech aims to strengthen its relationship with customers by:
A) Lowering prices
B) Moving its services to the cloud
C) Hiring more staff
D) Reducing the number of clients
Answer: B
7. What technology does Fintech focus on for making data-driven insights easier for their customers?
A) Artificial Intelligence
B) Cloud computing
C) Machine learning
D) Internet of Things
Answer: B
8. Which of the following is NOT a capability of Fintech's IT staff?
A) Network Administration
B) Custom Application Programming
C) Machine learning algorithm design
D) Security
Answer: C
9. What kind of tools do Fintech customers prefer to use for accessing data?
A) .sav (SPSS) or .csv files
B) XML files
C) PDF documents
D) JPEG images
Answer: A
10. Which cloud computing model involves software being accessed online via a subscription?
A) IaaS
B) PaaS
C) SaaS
D) DaaS
Answer: C
11. What does PaaS (Platform as a Service) provide to the user?
A) Physical infrastructure
B) Software development platforms like operating systems, programming languages, and databases
C) Cloud storage
D) Mobile application development kits
Answer: B
12. Which of the following is an example of IaaS (Infrastructure as a Service)?
A) Salesforce
B) Microsoft Office
C) Amazon EC2
D) Google App Engine
Answer: C
13. In the travel industry, how can cloud computing models like SaaS, PaaS, and IaaS be useful?
A) For setting up physical offices
B) For handling payments and bookings efficiently through cloud services
C) For managing travel itineraries manually
D) None of the above
Answer: B
14. Which factor is NOT a technical factor to consider when choosing a cloud service provider?
A) Programmability
B) Database support
C) Initial Price
D) Scalability
Answer: C
15. What is a concern related to cloud computing?
A) Data breaches
B) High electricity consumption
C) Environmental impact
D) Lack of international regulations
Answer: A
16. Which phase comes after the "Trough of Disillusionment" in the Gartner Hype Cycle?
A) Peak of Inflated Expectations
B) Plateau of Productivity
C) Slope of Enlightenment
D) Innovation Trigger
Answer: C
17. What phase is characterized by "imitators starting to appear" in the Gartner Hype Cycle?
A) Peak of Inflated Expectations
B) Trough of Disillusionment
C) Plateau of Productivity
D) Slope of Enlightenment
Answer: C
18. What is the final step in the Gartner Hype Cycle?
A) Innovation Trigger
B) Plateau of Productivity
C) Peak of Inflated Expectations
D) Slope of Enlightenment
Answer: B
19. Which factor is NOT part of the human factors to consider in cloud adoption?
A) Availability of IT staff
B) Availability of consultant services
C) Complementary investments
D) Skills of local IT staff
Answer: C
20. What is a common security risk in cloud computing?
A) Malicious insiders
B) Server overheating
C) Lack of mobile access
D) Insufficient storage space
Answer: A
21. Which of the following is a benefit of cloud computing?
A) High upfront costs
B) Pay-as-you-go pricing
C) Slow scaling options
D) Complicated installation
Answer: B
22. What is the key observation about Microsoft Azure’s cloud service in the Fintech case?
A) It offers the cheapest price
B) It offers great scalability at a lower cost
C) It is more expensive than Amazon and Google but cheaper than on-premise licensing
D) It cannot handle large amounts of data
Answer: C
23. In Google Cloud, data access is typically secured using:
A) SSH keys
B) Google User and Host controls
C) AWS keys
D) Microsoft Azure User and Host controls
Answer: B
24. Which type of analytics examines large volumes of data to uncover hidden patterns?
A) Descriptive Analytics
B) Predictive Analytics
C) Prescriptive Analytics
D) Big Data Analytics
Answer: D
25. What key feature of Amazon Web Services (AWS) made it appealing for Fintech?
A) Lack of scalability
B) Data warehousing specialization with Redshift
C) High operational cost
D) Poor support
Answer: B
26. What does the 3rd party tool help with in AWS during data loading?
A) Creates new databases
B) Loads and stages data into AWS S3
C) Improves payment processing time
D) Adds additional security measures
Answer: B
27. What is a major concern regarding cloud service providers for Fintech?
A) Lack of user support
B) Permanent data loss
C) Poor marketing strategies
D) Limited customer base
Answer: B
28. Which cloud provider offered the best support cost according to Fintech’s evaluation?
A) Microsoft
B) Amazon
C) Google
D) None of the above
Answer: B
29. What step is common in the cloud service process for all providers mentioned in the case?
A) User interface customization
B) SQL Server Integration Services (SSIS) package creation
C) On-premise hosting
D) Data deletion processes
Answer: B
30. Which cloud provider required the use of MySQL for data access?
A) Amazon
B) Microsoft
C) Google
D) IBM
Answer: C
