R3 Corda Application in Blockchain Finance BFC Practice Questions (Page 6)

Questions 26–30

1. 26expert · hard

   A bank is using Corda for a syndicated loan platform. They need to integrate with an external credit rating agency that is not part of the Corda network. The rating agency needs to receive loan data for analysis but does not need to participate in transactions. What is the most appropriate integration approach?

   • ACreate a smart contract that automatically sends loan data to the agency's public blockchain address
   • BSet up a Corda node for the rating agency and grant it read-only access to the relevant states
   • CRequire the rating agency to use a REST API to query the Corda node directly
   • DUse Corda's vault query API to export loan data to a secure file and send it to the agency via SFTP
   Reveal Solution Discussion Select an answer first
2. 27foundation · easy

   In a Corda network, what is the primary role of a notary service?

   • ATo execute smart contract code on behalf of the transacting parties
   • BTo store a copy of all transaction data for regulatory compliance
   • CTo provide a timestamping service for all transactions
   • DTo prevent double-spending by validating that inputs are unspent
   Reveal Solution Discussion Select an answer first
4. 28application · medium

   A bank is implementing a syndicated loan on Corda. The loan agreement is represented as a state, and the contract enforces the terms. The bank wants to ensure that any update to the loan (e.g., changing the interest rate) is only valid if all parties agree. What should the contract's verify function check?

   • AThat the transaction is signed by the notary, proving that the loan state is unique
   • BThat the transaction includes a command with the required signers, and the verify function enforces the business rules for the loan update
   • CThat the transaction is broadcast to all nodes in the network for consensus
   • DThat the transaction has the required signatures from all parties listed in the state's participants field
   Reveal Solution Discussion Select an answer first
5. 29application · medium

   A bank wants to integrate its existing trade finance platform with a Corda network. The platform needs to initiate a trade finance flow and receive the result asynchronously. Which integration approach should the bank use?

   • AExpose a REST API from the CorDapp that starts the flow and returns a future, then use a callback or webhook to notify the platform
   • BDirectly access the Corda node's database to insert transactions
   • CUse the network map to find the other party's node and send a message directly
   • DUse the Corda RPC client to invoke the flow and wait for the flow to complete synchronously
   Reveal Solution Discussion Select an answer first
6. 30application · medium

   A Corda application for trade finance needs to handle a scenario where the buyer's bank and seller's bank must both sign a transaction that updates a letter-of-credit state. The flow must be resilient to one bank being temporarily offline. Which flow design pattern should be used?

   • AA flow that sends the transaction to a notary first, then to the banks for signatures
   • BA flow that uses subflows to collect signatures sequentially, with checkpointing so the flow can resume if a party is offline
   • CA flow that stores the transaction on a shared database accessible to both banks
   • DA single flow that sends the transaction to both banks simultaneously and waits for both responses
   Reveal Solution Discussion Select an answer first