QUESTION $11$

Please select TWO supply factors that have contributed to the fintech evolution according to the textbook:

Increased availability of mobile technology

Millennials are now the largest generation in the labor force and much heavier users of tech than previous demographic groups

Banks decreased lending to small businesses and riskier customers

"A low interest rate environment that caused bank profits to decrease, causing banks to explore ways to cut costs"

$4$ points

QUESTION $12$

"For many years, commentators thought there was a chance that fintech comapnies could cause the downfall of retail $($traditional$)$ banks due to the many advantages of fintech."

True

False

$2$ points

QUESTION $13$

Select THREE major advantages mentioned in the text that retail banks have over tech banks.

Customers

Compliance

Credit

Capital

Character

Capacity

$6$ points

QUESTION $14$

"Because of the balance sheet structure of retail banks, they have a cost of capital near zero, where as fintech companies have a much higher cost of capital."

True

False

$2$ points

QUESTION $15$

"According to the text, what is the main characteristic that retail banks need to improve upon in order to make benefit of digital opportunity?"

Customer base

Compliance

Culture

Capacity

$4$ points

QUESTION $16$

"According to the text, what is the name of Goldman Sach's consumer brand?"

Marcus

Goldman Bank

Consumer Banking Services

Imment

$4$ points

QUESTION $17$

"According to the text, which open banking product provides consumers convenient access to credit card, mortgage, and bank account information from different banks in the same place?"

Connected Money

Venmo

PayPal

Bank of America Mobile Banking App

$4$ points

QUESTION $18$

Cryptocurriencies are issued by a central bank.

True

False

$2$ points

QUESTION $19$

The $2018$ cryptocurrency crash was worse than the $78\%$ crash of the dot com bubble.

True

False

$2$ points

QUESTION $20$

"According to the textbook, the European Central Bank CEO Mario Draghi believes that cryptocurrency is highly speculative, risky, and not a form of money, but instead an investment."

True

False