Get All Weeks Decentralized Finance (DeFi) Infrastructure Quiz Answers
Week 01 Quiz Answers
Module Quiz Quiz Answers
Q1. Both early barter trading and modern day DeFi are peer-to-peer systems of market exchange.
- True
- False
Q2. Which of the following is NOT a primary or secondary role of money?
- Medium of exchange
- Unit of account
- Method to earn interest
- Store of value
- Transfer of value
Q3. Iraqi Swiss Dinars were an example of a currency that had intangible value.
- True
- False
Q4. Which of the following are TRUE about centralized finance as per the lecture, “Brief overview of CeFi problems”?
- Perfect interoperability of commercial banking institutions
- Every person without exception has access to banks
- Costs of transacting are low
- Fund transfer are not instantaneous
Q5. Why do small entrepreneurs have to fund their businesses with credit cards?
- Although credit card borrowing is costly, the return on business is always higher than that; thus, profits are mostly assured.
- Size of these entrepreneurs’ businesses is too small to interest institutional channels of finance.
- They are afraid that the banks may fail.
- They want to use their credit card so they can build credit history by increasing the volume of their credit card transactions
Q6. Which of these early DeFi ideas made trading stocks cheaper?
- 3-day settlement
- Dark pools
- Demat accounts
- Brokers
Q7. Which are the problems the plague centralized finance? Hint: You can choose more than one.
- Limited access
- Centralized control
- Inefficiency
- Opacity
- Lack of interoperability
Q8. Most current Fintech initiatives use legacy banking infrastructure?
- True
- False
Q9. Which ideas did Satoshi Nakamoto combine to introduce Bitcoin?
- Proof of stake
- Blockchain
- Mining pools
- Proof of work
Q10. Which of the following statements are FALSE with respect to the bitcoin blockchain?
- Mistakes can be edited and fixed
- Censorship resistant
- Computational platform for smart contracts
- Allows for portability of Bitcoin
Week 02 Quiz Answers
Module Quiz Quiz Answers
Q1. Blockchain was invented by Satoshi Nakamoto in the famous 2008 paper.
- True
- False
Q2. No matter how many times an (identical) data set is hashed, the output will always be the same.
- True
- False
Q3. Blockchains are called blockchains because the ledger is broken into smaller datasets or blocks. The last line of the block contains a cryptographic hash that is repeated as the first line of the next block thus serving as the “chain”.
- True
- False
Q4. Go to https://emn178.github.io/online-tools/sha256.html and enter the word DeFi (be careful of capitalization and no spaces). Which is the correct SHA-256 output (first six characters):
- 3871f9
- da9fa3
- 0000sn
- 340a4d
Q5. Miners gather transactions, verify that the transactions are valid, hash the transactions (which happens very quickly) and post a new block.
- True
- False
Q6. It is possible today, albeit very computationally challenging, to derive the private key associated with a public key.
- True
- False
Q7. The gas required to operate on the Ethereum blockchain is paid in another cryptocurrency acceptable on the Ethereum blockchain.
- True
- False
Q8. Miners on the Ethereum blockchain can choose any transactions to add to their block. Thus, inevitably, they end up choosing those transactions that bid the highest fees.
- True
- False
Q9. Oracles enable external information to be used in computations on the Ethereum blockchain.
- True
- False
Q10. There are three types of stablecoins: fiat or other asset collateralized, cryptocollateralized, and non-collateralized.
- True
- False
Q11. DAOs or decentralized autonomous organizations have a board of directors, a CEO that has control over major decisions, and company headquarters.
- True
- False
Week 03 Quiz Answers
Module Quiz Answers
Q1. There is little difference between a dApp and an Apps like Robinhood, Venmo, Zelle, WeChat Pay, Alipay, etc.
- True
- False
Q2. Keepers and Oracles are essentially the same, except that keepers do for DeFi platforms what Oracles do for blockchains.
- True
- False
Q3. While vampirism is a risk to DeFi platforms due to their open-source nature (i.e., code can be copied and repurposed), there is a benefit of using existing code and improving on it.
- True
- False
Q4. Yield farming refers to a situation where a user deposits crypto funds (potentially in various different DeFi platforms) and seeks the highest possible rewards or savings rates.
1 point
- True
- False
Q5. Initial DeFi Offering, or IDOs, are a long, expensive process, that includes filing with securities regulators such as the SEC in the US.
- True
- False
Q6. DeFi refers to a fast-growing and highly opaque corner of the cryptocurrency market.
- True
- False
Q8. A DeFi protocol is truly decentralized only if special privileges are given to the administrator.
- True
- False
Q8. DeFi Legos is a concept that implies that each DeFi protocol is rigid and is incapable of interacting with other DeFi protocols.
- True
- False
Q9. Tokenizing physical assets is much more straightforward than tokenizing virtual assets.
- True
- False
Q10. One disadvantage of an Initial DeFi Offering is that an artificial floor on the cryptocurrency price is established that potentially could inhibit price discovery.
- True
- False
Week 04 Quiz Answers
Module Quiz Answers
Q1. All cryptocurrencies are anonymous and the technology makes it easier for criminals to operate.
- True
- False
Q2. The Bitcoin and Ethereum blockchains are routinely hacked so these cryptos are not safe to use.
- True
- False
Q3. Central banks’ Central Bank Digital Currencies or CBDC have nothing to do with DeFi.
- True
- False
Q4. All cryptocurrencies have no fundamental value.
- True
- False
Q5. Quantum computing poses very little threat to the main cryptocurrencies.
- True
- False
Q6. Today the cost of transacting on the main networks like Bitcoin and Ethereum is trivial, opening up a new way to handle day to day transactions, like buying a coffee at Starbucks.
- True
- False
Q7. DeFi is so hard to understand that it will likely go nowhere.
- True
- False
Q8. Given the rise of cryptocurrencies like bitcoin and ethereum, the price volatility has substantially decreased due to widespread use.
- True
- False
Q9. The DeFi space is just too small compared to banks and, as such, is doomed to be a failure.
- True
- False
Q10. Mining that underlies Proof of Work crypto protocols like Bitcoin and (currently) Ethereum is environmentally damaging.
- True
- False
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Get All Course Quiz Answers of Decentralized Finance (DeFi): The Future of Finance Specialization
Decentralized Finance (DeFi) Infrastructure
Decentralized Finance (DeFi) Primitives
Decentralized Finance (DeFi) Deep Dive
Decentralized Finance (DeFi) Opportunities and Risks
