Based on ASIC's Innovation Hub Sandbox exemption for fintech testing, given f...
1.Based on ASIC's Innovation Hub Sandbox exemption for fintech testing, given fintech in sandbox must:Select one:a. Have no more than 100 retail clientsb. Can have unlimed wholesale clientsc. Have total exposure to customers of no more that $5 milliond. All of the above2.What do you understand under the term of distributed markets?Select one:a. Interrelated financial markets with considerable network effectsb. Markets distributed on a global basis using technologyc. Blockchain based marketsd. Markets driven and designed around central banks
3.Which of the following is wealth management sector actively providing to the clients portfolio?Select one:a. Peer-to-peer lendingb. Internet of things (IOT)c. Cyber securityd. Robo advisory
4。Online lending platform "Judo Bank" in addition to their core revenue of interest rates and funding fees can enhance their ability to profit fromSelect one:a. Providing customer insights using customer informationb. Opening bank accounts and offering banking servicesc. Opening SME checking accounts and long-term saving accounts
5。What do you understand under the term of SME lending in the context of FinTech?Select one:a. Everyone is able to lend to SME clientsb. Bank can lend to a retail customer directlyc. Platform for investment and lending among SME clientsd. Bank-to-bank lending platform for SME clients
6。Simple KYC is local Sydney based RegTech company specializing in KYC deliveries, is the solution in production environment now?Select one:a. Trueb. False
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1) a. Have no more than 100 retail clients.
2) b. Markets distributed on a global basis using technology
3) d. Robo advisory
4) c. Opening SME checking accounts and long-term saving accounts
5) a. Everyone is able to lend to SME clients
6) a. True
Step-by-step explanation
1) To rely on the ASIC Fintech Licensing Exemption, businesses must: have no more than 100 retail clientshave a total client exposure not exceeding AUD 5 millioncomply with consumer protection requirements have adequate compensation arrangements have both internal and external dispute resolution procedures in place
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