Question 1

Businesses have been required to switch to digital invoices in

Accepted Answer

A)  the European Union.
B)  the United States.
C)  countries that host the Association of Financial Professionals.
D)  the home regions of cloud-based companies.E) B) and C)
F) None of the above A

Question 2

Transactions in virtual currency do not require financial institutions, and can be conducted anonymously. With these features of virtual currency in mind, the most ethical action a user can take is to

Accepted Answer

A)  protect himself or herself.
B)  avoid the use of virtual currency entirely.
C)  use virtual currency exclusively.
D)  take advantage of those who are not aware of how virtual currency is used.E) All of the above
F) A) and B) A

Question 3

Virtual currency is stored in a digital wallet and identified by public keys. To access virtual currency requires corresponding sequences of private keys. Unlike real currency, virtual currency is

Accepted Answer

A)  not issued or backed by any government or bank.
B)  subject to special digital transaction fees.
C)  risk-free.
D)  required to be accepted in payment or exchange.E) A) and C)
F) All of the above

Question 4

Virtual currency is a medium of exchange that operates like a currency in some environments. In other words, more precisely, virtual currency is

Accepted Answer

A)  digital money.
B)  coins and bills.
C)  checks, notes, and other negotiable instruments in paper form.
D)  all of the choices.E) A) and D)
F) A) and B)

Question 5

A digital invoice is

Accepted Answer

A)  an electronic version of a paper bill that can be paid online.
B)  an online view of a paper bill that cannot be paid online.
C)  a statement for a subscription service that makes B2B payments.
D)  a supplemental record of a transaction payment.E) A) and D)
F) All of the above A

Question 6

Virtual currency has legitimate uses. Laws that apply to virtual currency include all of the following except

Accepted Answer

A)  federal registration requirements.
B)  state licensing requirements.
C)  the proposed uniform Regulation of Virtual Currencies Act.
D)  the Federal Deposit Insurance Corporation regulations.E) A) and B)
F) A) and C)

Exam 53: Negotiable Instruments

Businesses have been required to switch to digital invoices in

Correct Answer
verified
A

Transactions in virtual currency do not require financial institutions, and can be conducted anonymously. With these features of virtual currency in mind, the most ethical action a user can take is to

Correct Answer
verified
A

Virtual currency is stored in a digital wallet and identified by public keys. To access virtual currency requires corresponding sequences of private keys. Unlike real currency, virtual currency is

Correct Answer
verified

Virtual currency is a medium of exchange that operates like a currency in some environments. In other words, more precisely, virtual currency is

Correct Answer
verified

A digital invoice is

Correct Answer
verified
A

Virtual currency has legitimate uses. Laws that apply to virtual currency include all of the following except

Correct Answer
verified

Exam 53: Negotiable Instruments

Businesses have been required to switch to digital invoices in

Correct AnswerverifiedA

Transactions in virtual currency do not require financial institutions, and can be conducted anonymously. With these features of virtual currency in mind, the most ethical action a user can take is to

Correct AnswerverifiedA

Virtual currency is stored in a digital wallet and identified by public keys. To access virtual currency requires corresponding sequences of private keys. Unlike real currency, virtual currency is

Correct AnswerverifiedShow Answer

Virtual currency is a medium of exchange that operates like a currency in some environments. In other words, more precisely, virtual currency is

Correct AnswerverifiedShow Answer

A digital invoice is

Correct AnswerverifiedA

Virtual currency has legitimate uses. Laws that apply to virtual currency include all of the following except

Correct AnswerverifiedShow Answer

Correct Answer
verified
A

Correct Answer
verified
A

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A

Correct Answer
verified