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So you think you know FinTech?

What is the function of an issuing bank?

An issuing bank provides branded cards directly to consumers

A bank that issues debt with no interest

A bank that will issue credit cards to anyone that walks in the door

APR stands for

Average perfunctory risk

Annual percentage rate

Actual pension relevance

The Durbin amendment enforces which of the following interchange rate caps on financial institutions over $10 billion in assets?

A set 0.85%

0.05% plus 21 cents

A flat 25 cents

Big brands like Apple, Amazon, Google, Facebook, and others don't pose a threat to traditional financial insitutions

True

False

Products like Squarecash and Venmo are making money hand over fist in peer to peer payments

True

False

Open Banking is a term that means

The use of open API's that enable third party developers to build applications and services around the financial institution

A new banking movement where banks open their doors to anyone - including the traditionally underbanked - to open an account

Blockchain for banking that creates a much more open echosystem

Which of the following was not a founder at PayPal?

Elon Musk

Max Levchin

Peter Thiel

Jack Dorsey

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