CS10023 Assessment & Award

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Question 1 of 30

1. Question
What is the purpose of Module 1 in CS10023?
- A) To teach you how to become a professional cryptocurrency trader.
- B) To provide a guide on how to get started in cryptocurrency.
- C) To offer advanced strategies for investing in cryptocurrency.
- D) To teach you how to mine Bitcoin.
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Question 2 of 30

2. Question
What is the main problem that Bitcoin aims to solve?
- A) High transaction fees for traditional banking systems.
- B) Slow transaction times for traditional banking systems.
- C) Lack of privacy in traditional banking systems.
- D) All of the above.
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Question 3 of 30

3. Question
What resources are available to help you in your crypto journey?
- A) Glossary and acronyms
- B) Resources to dive deeper into a topic
- C) A beginners course covering various aspects of crypto
- D) All of the above
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Question 4 of 30

4. Question
What personal details are typically required to sign up for a cryptocurrency exchange?
- A) Bank account details and personal ID
- B) Credit card details and social security number
- C) Bank statements
- D) All of the above
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Question 5 of 30

5. Question
What is the definition of cryptocurrency?
- A) Physical objects that are used as a form of payment
- B) Digital or virtual money that uses cryptography for security and is not tied to a specific country or government
- C) A type of stock in a company that is based in the crypto space
- D) A type of online game currency that can be used for purchases
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Question 6 of 30

6. Question
How is cryptocurrency typically secured?
- A) By a government agency that regulates its use
- B) By a giant network of computers that verify everyone is playing by the rules
- C) By a physical key that is kept in a safe
- D) By a password that is only known to the owner of the cryptocurrency.
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Question 7 of 30

7. Question
What is one reason people might get into cryptocurrency?
- A) To fight inflation
- B) To support their government
- C) To increase exchange rates
- D) To lower transaction fees
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Question 8 of 30

8. Question
What benefit can cryptocurrency offer people in countries with historically poor financial management?
- A) The ability to print more money
- B) A degree of freedom and flexibility
- C) Access to centralized banking systems
- D) The ability to control government policies.
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Question 9 of 30

9. Question
What was the main reason for the creation of Bitcoin?
- A) To make money for its creators
- B) To provide an alternative to traditional currency during the 2008/09 financial crisis
- C) To be controlled by governments
- D) To provide a more convenient form of currency for tech-savvy individuals
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Question 10 of 30

10. Question
Which of the following is a characteristic of Bitcoin?
- A) It can be issued by any government or financial institution
- B) It relies on a centralized network to process and verify transactions
- C) It is not widely accepted as a legitimate form of currency
- D) It is a store of value that is difficult to change
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Question 11 of 30

11. Question
What is the benefit of Bitcoin as a store of value?
- A) It can be easily changed
- B) It is controlled by a central bank
- C) It is difficult to change, providing a hedge against inflation
- D) It is not accepted as a legitimate form of currency
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Question 12 of 30

12. Question
What is Bitcoin’s aim as non-state money?
- A) To separate money from the governments or the state
- B) To inflate the money supply
- C) To make it easier for a single central bank to change the money
- D) To create a less fair financial system
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Question 13 of 30

13. Question
What are the benefits of Bitcoin?
- a) Reduction of cost to settlement payments
- b) Hedge against inflation
- c) Inclusion into the broader financial system
- d) All of the above
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Question 14 of 30

14. Question
Please type in ONE correct answer:
What is a cryptocurrency that has stood the test of time so far?
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Question 15 of 30

15. Question
How risky are cryptocurrencies?
Please select one
- Low
- Medium
- High
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Question 16 of 30

16. Question
What annual percentage yield (APY) should you start becoming suspicious of?
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Question 17 of 30

17. Question
What is the recommended approach to high APY investments if you do not understand where the yield comes from or how it works?
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Question 18 of 30

18. Question
What does DCA stand for?
- Drug Control Agency
- Director of Consumer Affairs
- Debt Collection Agency
- Doller Cost Average
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Question 19 of 30

19. Question
Is 2FA important?
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Question 20 of 30

20. Question
What are the 3 basic security risks in crypto to watch out for?
- Exchange risk
- Scammer Risk
- Storage Risk
- Frisky Whisky Risk
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Question 21 of 30

21. Question
When investing in cryptocurrencies, it’s important to perform a comprehensive _______ assessment before considering investing. This is because failing to do so can significantly impact the risk-reward ratio of your portfolio. Additionally, most cryptocurrency projects will almost certainly _______ over the long-term for a variety of different reasons, including (but not limited to) low user adoption, poor management, lack of innovation, technical failure, or outright malicious intent. Finally, it’s important to diversify your cryptocurrency portfolio, as owning several cryptocurrencies that are all based within the same industry or designed to solve the same problem may expose you to unnecessary _______ if the industry or sector no longer has a demand or need for a blockchain-based solution.
- A) risk, decline, risk
- B) opportunity, profitability, potential
- C) threat, success, failure
- D) risk, profitability, threat
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Question 22 of 30

22. Question
Did you use the Fast method or the normal method to buy Bitcoin?
- Fast method
- Normal Method
- Different Method
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Question 23 of 30

23. Question
How confident are you in your bitcoin or cryptocurrency plan?
0 to 10
- 012345678910
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Question 24 of 30

24. Question
Which exchange has the most international reach?
- Binance
- Coinspot
- Coinbase
- Other
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Question 25 of 30

25. Question
Should you take my bitcoin off the exchange?
- Yes
- No
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Question 26 of 30

26. Question
Where is the better place to store your cryptocurrency?
- Hardware Wallet
- Non hardware wallet
- On the Exchange
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Question 27 of 30

27. Question
Are you a bitcoiner now?
- Yes
- No
- I already was
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Question 28 of 30

28. Question
You can keep track of my cryptocurrency on the Collective Shift platform.
- Yes
- No
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Question 29 of 30

29. Question
You can keep track of the latest crypto news on the Collective Shift Platform
- Yes
- No
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Question 30 of 30

30. Question
This course helped me understand bitcoin and cryptocurrency a little better
0-10
- 012345678910
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CS10023

CS10023 Assessment & Award

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