Question 1

Which of the following is a method of transferring money from one person's account to another?

Accepted Answer

A

Question 2

If you need to transfer money to another person via the internet, which of the following methods could you use?

Accepted Answer

All the options listed are methods through which money can be transferred over the internet. A financial cybermediary facilitates online transactions, an electronic check is a digital version of a paper check, and electronic bill presentment and payment is a process that allows bills to be paid online.

Question 3

Which of the following permits the transmission of a bill, along with payment of that bill, to be conducted over the Internet?

Accepted Answer

C

Question 4

A combination of software and information designed to provide security and information for payment is called a what?

Accepted Answer

A digital wallet is a software-based system that securely stores users' payment information and passwords for numerous payment methods and websites. It enables users to complete purchases easily and quickly with near-field communications technology.

Question 5

What is the name for direct computer-to-computer transfer of transaction information contained in standard business documents?

Accepted Answer

Electronic Data Interchange (EDI) is the computer-to-computer exchange of business documents in a standard electronic format between business partners.

Question 6

Which of the following is used in B2B to pay for purchases?

Accepted Answer

Financial electronic data interchange (EDI) is used in B2B transactions to facilitate the electronic exchange of payment information and processing of payments.

Question 7

Public key encryption uses multiple keys. One key is used to encrypt data, while another is usedto decrypt data. The key used to encrypt data is called the _____ key, while the key used todecrypt data is called the _____ key.

Accepted Answer

In public key encryption, the public key is used to encrypt data, and the private key is used to decrypt data. This ensures that anyone can encrypt data using the public key, but only the holder of the private key can decrypt it.

Question 8

Secure Sockets Layers does which of the following?

Accepted Answer

Secure Sockets Layer (SSL) creates a secure, private connection to a web server, encrypts information to keep it secure, and is used to send information securely over the internet.

Question 9

When a transaction is processed online, how can the merchant verify the customer's identity?

Accepted Answer

Secure Electronic Transactions (SET) is a protocol specifically designed to secure credit card transactions over the internet by providing a mechanism for ensuring the confidentiality of payment information and authenticating both the cardholder and the merchant.

Question 10

The practice of forging a return address on an e-mail so that the recipient is fooled into revealing private information is termed?

Accepted Answer

Spoofing refers to the act of disguising communication from an unknown source as being from a known, trusted source. In the context of email, it involves forging the sender's address to trick the recipient into thinking the message is from someone they trust, often to steal sensitive information.

Question 11

What is a model of a proposed product, service, or system?

Accepted Answer

A prototype is a preliminary model of a product, service, or system that is used to demonstrate or test various aspects of its design before final production.

Question 12

What is an internal organizational Internet that is guarded against outside access by a specialsecurity feature called a firewall (which can be software, hardware, or a combination of thetwo)?

Accepted Answer

An intranet is a private network accessible only to an organization's staff, often protected from external access by a firewall.

Question 13

What is an intranet that is restricted to an organization and certain outsiders, such as customers and suppliers?

Accepted Answer

An extranet is an intranet that allows controlled access to users outside of an organization, such as customers and suppliers, enabling secure and efficient collaboration.

Question 14

Which factor determines when your IT system will be available for knowledge workers to access?

Accepted Answer

Availability determines when IT systems are accessible to users, ensuring that systems are up and running when needed.

Question 15

Which factor determines who has the right to access different types of IT systems and information?

Accepted Answer

Accessibility determines who has the right to access different types of IT systems and information, focusing on the permissions and controls that govern access to data and resources.

Question 16

Which factor represents a system's ability to change quickly?

Accepted Answer

Flexibility in a system refers to its ability to adapt or change quickly in response to varying conditions or requirements, which is essential for responding to new challenges or opportunities.

Question 17

What is a set of conditions used to measure how well a product or system functions?

Accepted Answer

A benchmark is a set of conditions or standards used to measure the performance or effectiveness of a product, system, or service, often by comparison to an industry standard or best practice.

Quiz 3: Financial Transactions, Security Measures, and IT Infrastructure