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Model cards provide standardized documentation of AI model purpose, performance, and limitations.
- True
- False
Answer: True
Model Cards (Google proposal) document: intended use, training data, evaluation metrics, ethical considerations. Enable informed deployment and accountability. Adopted by many AI developers globally.
Which principle ensures AI systems are robust against adversarial attacks and errors?
- Fairness
- Robustness
- Transparency
- Privacy
Answer: Robustness
Robustness requires AI systems to perform reliably under normal conditions, edge cases, and adversarial inputs. Techniques: adversarial training, uncertainty quantification, fallback mechanisms. Critical for safety-critical AI applications.
The pilot phase of India's retail CBDC allows transactions via ________ wallets issued by partner banks.
Answer: Digital / e₹
e₹-R pilot involves major banks issuing digital wallets for retail transactions: P2P, P2M, QR payments. Tests usability, scalability, and integration with existing payment systems before full rollout.
Which regulatory approach treats crypto assets based on their economic function rather than technology?
- Technology-Neutral Regulation
- Substance-Over-Form
- Risk-Based Supervision
- All of these
Answer: All of these
Modern crypto regulation focuses on economic substance: payment tokens, security tokens, utility tokens regulated based on function. Avoids technology lock-in and adapts to innovation. Critical for policy design questions.
Stablecoins are cryptocurrencies pegged to stable assets like fiat currency or commodities.
- True
- False
Answer: True
Stablecoins (USDT, USDC) maintain value via reserves or algorithms. Used for trading, remittances, DeFi. Regulatory focus: reserve transparency, redemption rights, systemic risk. Critical for crypto ecosystem understanding.
Which CBDC benefit enables faster cross-border payments compared to traditional systems?
- 24/7 Availability
- Direct Settlement
- Reduced Intermediaries
- All of these
Answer: All of these
CBDC cross-border payments: operate 24/7, enable direct central bank-to-central bank settlement, reduce correspondent banking layers. Critical for trade finance and remittance efficiency.
The global standard for crypto asset classification and regulation is developed by ________.
Answer: FATF / Financial Action Task Force
FATF provides international standards for virtual assets: definition of VASPs, Travel Rule, risk-based supervision. Countries implement through domestic laws. Critical for cross-border crypto compliance.
Which privacy feature enables selective disclosure of transaction details in CBDC?
- Zero-Knowledge Proofs
- Ring Signatures
- Confidential Transactions
- All of these
Answer: All of these
Privacy-preserving techniques: ZK-proofs verify without revealing data; ring signatures obscure sender; confidential transactions hide amounts. Balance privacy with regulatory compliance (AML/KYC).
Wholesale CBDC (e₹-W) is designed for interbank settlements and financial market infrastructure.
- True
- False
Answer: True
Wholesale CBDC enables real-time gross settlement between banks, central counterparties, and financial institutions. Improves efficiency, reduces counterparty risk, and enables new financial products.
Which Indian authority regulates Virtual Digital Asset exchanges and service providers?
- RBI
- SEBI
- Both A and B
- MeitY
Answer: Both A and B
RBI regulates payment aspects of crypto; SEBI regulates securities-like tokens; FIU-IND monitors suspicious transactions. Multi-regulator approach addresses different crypto use cases. Critical for compliance questions.
The technology underlying most cryptocurrencies that enables decentralized consensus is called ________.
Answer: Blockchain
Blockchain is distributed ledger using cryptographic hashing and consensus mechanisms (PoW, PoS) for tamper-resistant record-keeping. Foundation for Bitcoin, Ethereum, and many CBDC prototypes.
Which CBDC architecture enables programmable money with conditional payments?
- Account-based
- Token-based
- Smart Contract-enabled
- All of these
Answer: Smart Contract-enabled
Smart contract-enabled CBDC allows conditional payments: escrow, subsidies with usage restrictions, automated tax collection. Requires careful design to balance flexibility with privacy and monetary policy control.
FATF recommendations require Virtual Asset Service Providers to implement AML/CFT measures.
- True
- False
Answer: True
FATF (Financial Action Task Force) Travel Rule requires VASPs to share sender/receiver information for crypto transactions above threshold. India aligns regulations with FATF standards for anti-money laundering.
Which CBDC design enables offline transactions for financial inclusion?
- Token-based
- Account-based
- Hybrid
- All of these
Answer: Hybrid
Hybrid CBDC design combines online (account-based) and offline (token-based) capabilities. Offline mode uses secure hardware for transactions without internet. Critical for rural inclusion and disaster resilience.
The Indian tax provision that imposes 30% tax on income from virtual digital assets is Section ________ of Income Tax Act.
Answer: 115BBH
Section 115BBH (introduced FY 2022-23) taxes crypto income at 30% plus cess, with 1% TDS on transactions. No loss offset allowed. Critical for crypto taxation compliance questions.
Which feature distinguishes CBDC from cryptocurrencies like Bitcoin?
- Central Bank Issuance
- Legal Tender Status
- Regulatory Oversight
- All of these
Answer: All of these
CBDCs are sovereign digital currency: issued by central banks, legal tender status, regulated monetary policy. Cryptocurrencies are decentralized, volatile, and largely unregulated. Critical for understanding digital money evolution.
India's Central Bank Digital Currency (e₹) is a digital form of legal tender issued by RBI.
- True
- False
Answer: True
e₹ (e-Rupee) is RBI-issued digital token representing sovereign currency. Two types: retail (e₹-R) for public transactions via wallets, wholesale (e₹-W) for interbank settlements. Built on distributed ledger technology.
Which technology enables real-time monitoring of forest cover and deforestation using satellites?
- Remote Sensing
- GIS Mapping
- AI Analytics
- All of these
Answer: All of these
Forest monitoring combines: satellite imagery (Sentinel, Resourcesat), GIS for spatial analysis, AI for change detection. Used for REDD+ programs and climate reporting. Critical for environmental governance.
The metric that measures data center energy efficiency is called Power Usage ________.
Answer: Effectiveness / PUE
PUE = Total Facility Energy / IT Equipment Energy. Ideal PUE is 1.0; modern data centers achieve 1.1-1.3. Critical for measuring and improving data center sustainability.
Which standard verifies carbon offset projects for credibility and additionality?
- Gold Standard
- Verra VCS
- Both A and B
- Neither
Answer: Both A and B
Gold Standard and Verra's Verified Carbon Standard (VCS) certify offset projects: renewable energy, forestry, methane capture. Ensure real, measurable, additional emission reductions. Critical for carbon market integrity.