Q. In 2021, which bank was fined $400 million for failing to maintain adequate anti-money laundering controls?
-
A.
Wells Fargo
-
B.
Deutsche Bank
-
C.
Citigroup
-
D.
Barclays
Solution
Deutsche Bank was fined $400 million for inadequate anti-money laundering controls.
Correct Answer:
B
— Deutsche Bank
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Q. In 2021, which major bank was fined $1.5 billion for its role in the 1MDB scandal?
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A.
Deutsche Bank
-
B.
Goldman Sachs
-
C.
Barclays
-
D.
UBS
Solution
Goldman Sachs was fined $1.5 billion for its role in the 1MDB scandal in 2021.
Correct Answer:
B
— Goldman Sachs
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Q. In 2022, which bank was fined $1.5 billion for violating anti-money laundering regulations?
-
A.
Wells Fargo
-
B.
Deutsche Bank
-
C.
Citigroup
-
D.
Barclays
Solution
Deutsche Bank was fined $1.5 billion in 2022 for violating anti-money laundering regulations.
Correct Answer:
B
— Deutsche Bank
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Q. In 2022, which country’s central bank became the first to adopt a digital currency for retail use?
-
A.
China
-
B.
Sweden
-
C.
Bahamas
-
D.
Estonia
Solution
The Bahamas became the first country to adopt a digital currency for retail use with the Sand Dollar.
Correct Answer:
C
— Bahamas
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Q. In 2022, which country’s central bank raised interest rates to combat rising inflation, marking its largest hike in 28 years?
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A.
United States
-
B.
United Kingdom
-
C.
Brazil
-
D.
Turkey
Solution
Turkey's central bank raised interest rates significantly in 2022 to combat rising inflation.
Correct Answer:
D
— Turkey
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Q. In 2022, which country’s government announced a plan to nationalize its largest bank to stabilize its economy?
-
A.
Argentina
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B.
Turkey
-
C.
Venezuela
-
D.
Zimbabwe
Solution
Argentina announced plans to nationalize its largest bank to stabilize its economy amid financial turmoil.
Correct Answer:
A
— Argentina
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Q. In 2022, which major bank announced it would stop financing new oil and gas projects as part of its climate strategy?
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A.
Goldman Sachs
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B.
JP Morgan Chase
-
C.
HSBC
-
D.
Bank of America
Solution
HSBC announced it would stop financing new oil and gas projects to align with its climate goals.
Correct Answer:
C
— HSBC
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Q. In 2023, which country became the first to adopt Bitcoin as legal tender?
-
A.
El Salvador
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B.
Venezuela
-
C.
Ukraine
-
D.
Japan
Solution
El Salvador became the first country to adopt Bitcoin as legal tender in September 2021, and it continued to be a significant topic in 2023.
Correct Answer:
A
— El Salvador
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Q. In 2023, which major bank announced a significant restructuring plan that included job cuts?
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A.
Deutsche Bank
-
B.
HSBC
-
C.
Goldman Sachs
-
D.
JP Morgan
Solution
HSBC announced a significant restructuring plan in 2023 that included job cuts as part of its strategy to streamline operations.
Correct Answer:
B
— HSBC
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Q. In 2023, which major financial institution announced a partnership with a fintech company to enhance its digital banking services?
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A.
Bank of America
-
B.
Citi
-
C.
Wells Fargo
-
D.
Chase
Solution
Bank of America announced a partnership with a fintech company in 2023 to enhance its digital banking services.
Correct Answer:
A
— Bank of America
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Q. In 2023, which major financial institution announced it would no longer finance fossil fuel projects?
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A.
Goldman Sachs
-
B.
Morgan Stanley
-
C.
JP Morgan
-
D.
HSBC
Solution
HSBC announced in 2023 that it would no longer finance fossil fuel projects as part of its commitment to sustainability.
Correct Answer:
D
— HSBC
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Q. What is the name of the central bank that raised interest rates in the United States in March 2022?
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A.
European Central Bank
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B.
Federal Reserve
-
C.
Bank of England
-
D.
Bank of Japan
Solution
The Federal Reserve raised interest rates in the United States in March 2022 to combat rising inflation.
Correct Answer:
B
— Federal Reserve
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Q. What is the name of the digital payment system launched by the Reserve Bank of India in 2021?
-
A.
UPI 2.0
-
B.
Bharat QR
-
C.
e-RUPI
-
D.
Digital India Payment
Solution
The Reserve Bank of India launched e-RUPI, a digital payment solution aimed at ensuring leak-proof delivery of welfare services.
Correct Answer:
C
— e-RUPI
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Q. What is the name of the European Central Bank's digital currency initiative launched in 2021?
-
A.
Digital Euro
-
B.
EuroCoin
-
C.
ECB Coin
-
D.
Euro Digital
Solution
The European Central Bank launched the Digital Euro initiative in 2021.
Correct Answer:
A
— Digital Euro
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Q. What is the name of the financial technology company that went public in 2021 and is known for its buy now, pay later services?
-
A.
Affirm
-
B.
PayPal
-
C.
Square
-
D.
Afterpay
Solution
Affirm went public in 2021 and is recognized for its buy now, pay later services.
Correct Answer:
A
— Affirm
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Q. What is the primary purpose of the Basel III framework introduced in 2021?
-
A.
To regulate cryptocurrency
-
B.
To enhance bank capital requirements
-
C.
To promote digital banking
-
D.
To eliminate cash transactions
Solution
The primary purpose of the Basel III framework is to enhance bank capital requirements to improve financial stability.
Correct Answer:
B
— To enhance bank capital requirements
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Q. What was the primary reason for the collapse of Silicon Valley Bank in March 2023?
-
A.
Fraudulent activities
-
B.
Poor investment decisions
-
C.
Liquidity crisis
-
D.
Cyber attack
Solution
The primary reason for the collapse of Silicon Valley Bank in March 2023 was a liquidity crisis.
Correct Answer:
C
— Liquidity crisis
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Q. Which bank became the first to issue a green bond in the Indian market in 2021?
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A.
State Bank of India
-
B.
ICICI Bank
-
C.
HDFC Bank
-
D.
Axis Bank
Solution
State Bank of India became the first bank to issue a green bond in the Indian market in 2021.
Correct Answer:
B
— ICICI Bank
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Q. Which bank was fined $2.5 billion in 2022 for its role in the Libor scandal?
-
A.
Barclays
-
B.
Wells Fargo
-
C.
Citigroup
-
D.
Deutsche Bank
Solution
Deutsche Bank was fined $2.5 billion in 2022 for its involvement in the Libor scandal.
Correct Answer:
D
— Deutsche Bank
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Q. Which country launched its first digital currency, the e-krona, in 2022?
-
A.
Sweden
-
B.
China
-
C.
Japan
-
D.
United States
Solution
Sweden launched its first digital currency, the e-krona, in 2022 as part of its efforts to modernize its payment system.
Correct Answer:
A
— Sweden
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Q. Which country launched its first digital currency, the eNaira, in October 2021?
-
A.
Ghana
-
B.
Nigeria
-
C.
Kenya
-
D.
South Africa
Solution
Nigeria launched the eNaira, becoming the first African country to introduce a central bank digital currency.
Correct Answer:
B
— Nigeria
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Q. Which country’s central bank announced a pilot program for a digital currency in 2022, called the Digital Pound?
-
A.
Canada
-
B.
Australia
-
C.
United Kingdom
-
D.
Sweden
Solution
The United Kingdom's central bank announced a pilot program for a digital currency called the Digital Pound in 2022.
Correct Answer:
C
— United Kingdom
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Q. Which country’s central bank announced a pilot program for a digital currency in 2022?
-
A.
India
-
B.
Canada
-
C.
Australia
-
D.
South Africa
Solution
The Bank of Canada announced a pilot program for a digital currency in 2022.
Correct Answer:
B
— Canada
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Q. Which country’s central bank raised interest rates to combat inflation in 2022, marking its highest level in over a decade?
-
A.
United States
-
B.
United Kingdom
-
C.
Canada
-
D.
Australia
Solution
The Bank of England raised interest rates in 2022 to combat rising inflation.
Correct Answer:
B
— United Kingdom
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Q. Which cryptocurrency exchange filed for bankruptcy in November 2022, causing significant market turmoil?
-
A.
Coinbase
-
B.
Binance
-
C.
FTX
-
D.
Kraken
Solution
FTX filed for bankruptcy in November 2022, leading to significant turmoil in the cryptocurrency market.
Correct Answer:
C
— FTX
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Q. Which cryptocurrency exchange filed for bankruptcy in November 2022, leading to significant market turmoil?
-
A.
Coinbase
-
B.
Binance
-
C.
FTX
-
D.
Kraken
Solution
FTX filed for bankruptcy in November 2022, causing major disruptions in the cryptocurrency market.
Correct Answer:
C
— FTX
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Q. Which fintech company became the first to achieve a valuation of $100 billion in 2021?
-
A.
Stripe
-
B.
Square
-
C.
PayPal
-
D.
Ant Group
Solution
Stripe became the first fintech company to achieve a valuation of $100 billion in 2021.
Correct Answer:
A
— Stripe
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Q. Which fintech company went public through a SPAC merger in 2021, becoming one of the largest in the sector?
-
A.
Robinhood
-
B.
SoFi
-
C.
Affirm
-
D.
Chime
Solution
SoFi went public through a SPAC merger in 2021, becoming one of the largest fintech companies.
Correct Answer:
B
— SoFi
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Q. Which major bank announced a partnership with a fintech company to enhance its digital banking services in 2021?
-
A.
Citi
-
B.
Wells Fargo
-
C.
Bank of America
-
D.
Chase
Solution
Chase announced a partnership with a fintech company to improve its digital banking services.
Correct Answer:
D
— Chase
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