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Exam 312-82 Questions Answers - Free 312-82 Test Questions
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| Topic |
Details |
| Topic 1 |
- Blockchain’s Cryptocurrency Assets: This segment tests the proficiency of professionals like cryptocurrency traders in the area of cryptocurrency assets. It examines the role of blockchain in creating and managing digital currencies like Bitcoin and Ethereum, as well as its broader impact on the financial world.
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| Topic 2 |
- Decentralized Applications (dApps): This final section examines the skills of software developers in creating decentralized applications (dApps). It discusses the design, development, and deployment of dApps and their potential to revolutionize traditional business models by offering more secure, transparent, and efficient solutions.
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| Topic 3 |
- Insurance Applications: This section evaluates the expertise of insurance professionals, such as underwriters and claims managers in utilizing blockchain technology within the insurance industry.
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| Topic 4 |
- Blockchain Project Implementation: In this section, the exam focuses on the capability of project managers to execute blockchain projects effectively.
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| Topic 5 |
- Introduction: This part of the exam gauges the basic knowledge of blockchain technology for professionals like financial analysts and covers key blockchain concepts such as distributed ledgers, consensus mechanisms, and smart contracts, forming the basis for more advanced topics covered later.
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| Topic 6 |
- Ethereum: This part of the exam evaluates the expertise of blockchain developers and IT professionals in Ethereum, the leading platform for decentralized applications (dApps).
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| Topic 7 |
- Blockchain as a Service (BaaS): This section measures the skills of IT architect in deploying Blockchain as a Service (BaaS). It outlines how BaaS enables organizations to create and manage blockchain applications without building their own infrastructure, simplifying the adoption and scaling of blockchain technologies.
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| Topic 8 |
- Security in Blockchains: This part assesses the knowledge of cybersecurity experts, IT auditors, and compliance professionals in securing blockchain systems.
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| Topic 9 |
- Open Source: This module assesses the understanding of software developers and IT professionals concerning open-source blockchain frameworks. It explores the advantages of open-source development in blockchain, such as fostering innovation, transparency, and collaboration, as well as how professionals can contribute to or adopt these open-source solutions.
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| Topic 10 |
- Bitcoin: This module zeroes in on Bitcoin, the first and most prominent cryptocurrency. It tests the understanding of blockchain developers about how Bitcoin works, its impact on the financial landscape, and the challenges and opportunities related to its adoption as a digital currency.
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EC-COUNCIL EC-Council Blockchain Fintech CertificationB|FC exam Sample Questions (Q33-Q38):
NEW QUESTION # 33
________can support up to 10-14 transactions per second.
- A. Dapps
- B. Ethereum
- C. Bitcoin
- D. Zcash
Answer: B
Explanation:
Ethereumcurrently supports a transaction throughput of approximately10-14 transactions per second (TPS)
. This transaction speed is a result of Ethereum's design, which balances decentralization and security, albeit at the cost of scalability. This TPS rate is consistent across the Ethereum network prior to its upgrade to Ethereum 2.0, which aims to increase scalability through sharding and Proof of Stake.
Key Details:
* Limitations of Current Throughput: Ethereum's TPS rate is due to limitations in its consensus mechanism (formerly Proof of Work, now Proof of Stake) and block size, which prioritize security over transaction speed.
* Comparison with Other Networks: Bitcoin, for example, supports around 3-7 TPS, while other networks like Solana or Binance Smart Chain support significantly higher TPS. Ethereum's TPS may increase as Ethereum 2.0 is fully implemented, which aims to improve its scalability.
* Impact on Decentralized Applications (DApps): Ethereum's transaction capacity impacts DApps running on the network, as higher usage can lead to congestion and increased transaction fees(gas fees).
The upcoming upgrades are intended to alleviate these issues and enhance performance.
Therefore,D. Ethereumis the correct answer, as it supports approximately 10-14 TPS in its current form.
NEW QUESTION # 34
FinCEN requires any person engaging in the business of money transmission or the transfer of funds, including CVC, to (I) maintain an ''effective'' written anti-money laundering program reasonably designed to prevent the business from being employed to help the financing of terrorist activities and money laundering and________.
- A. Maintain detailed records of all customers
- B. Report suspidous transactions
- C. Submit reports to the SEC
- D. Registry as a money service business
Answer: B
Explanation:
FinCENrequires money transmitters and companies involved in virtual currency (CVC) transmission to report suspicious transactions as part of their anti-money laundering (AML) responsibilities. This is in addition to maintaining an effective AML program and registering as a money service business (MSB).
Key Details:
* AML Program: The program must be reasonably designed to detect and prevent the use of financial services for money laundering or terrorist financing.
* Reporting Suspicious Activity: FinCEN mandates that companies must file Suspicious Activity Reports (SARs) for any transactions that appear to be potentially suspicious or indicative of illegal activities.
* Regulatory Compliance: This requirement ensures that businesses adhere to federal regulations, contributing to a secure financial system by monitoring and reporting illicit activity.
Therefore,A. Report suspicious transactionsis the correct answer, as this is a key requirement for companies under FinCEN's regulations regarding money transmission and virtual currencies.
NEW QUESTION # 35
According to FinCEN what dictates the obligations of money transmitters?
- A. How the company advertises itself
- B. The company stated mission
- C. The business model
- D. The industry designation
Answer: C
Explanation:
According to theFinancial Crimes Enforcement Network (FinCEN), the obligations of money transmitters are determined primarily bythe business modelof the company. FinCEN regulations stipulate that companies engaged in money transmission services must comply with Anti-Money Laundering (AML) and Counter- Terrorism Financing (CTF) regulations, based on how they conduct their business rather than on their industry designation or self-description.
Key Details:
* Regulatory Basis: FinCEN's guidelines are focused on the activities of the business-specifically, whether it facilitates the transfer of money or currency on behalf of others. This regulatory approach ensures that companies involved in money transmission are subject to appropriate oversight, regardless of their industry.
* Activities Over Labels: Even if a company does not advertise itself as a money transmitter, it may still be subject to FinCEN regulations if its business operations fit the criteria for money transmission services.
* Compliance Requirements: Money transmitters must register with FinCEN and implement AML/CTF measures to prevent illicit activities, aligning their compliance obligations with the nature of their operations.
Thus,C. The business modelis the correct answer, as FinCEN focuses on the activities a company performs when determining regulatory obligations.
NEW QUESTION # 36
What is the term for the smallest subunit in Ether.
- A. Wie
- B. Bitcoin
- C. Gas
- D. ETH
Answer: A
Explanation:
The smallest subunit of Ether is called aWei. Ether (ETH) is divided into several subunits for precision in transactions, with Wei being the smallest, equivalent to 10#1810
