What is the primary way that Corda integrates with existing legacy financial systems?

By storing all legacy data on the Corda ledger

By using APIs and messaging to connect Corda nodes with external databases and applications

By providing a graphical user interface for legacy system users

By requiring all legacy systems to be replaced with Corda nodes

How can Corda be used in the area of digital assets?

To store digital assets in a centralized database

To create a public cryptocurrency that can be mined

To provide a wallet for storing Bitcoin

To issue and transfer tokenized assets such as bonds or shares between parties

A fintech startup is evaluating Corda for a cross-border payments application. They need to ensure that only the sending and receiving banks can see the payment details, and that the transaction is finalized quickly. Which Corda feature directly supports the privacy requirement?

The use of a shared global ledger that all participants can query

The requirement that all transactions be stored on a public blockchain for transparency

The global broadcast of all transactions to every node in the network

The ability to share transaction data only with the parties involved in the transaction

A Corda state represents a bond issuance. The bond has a maturity date and an interest rate. The state is updated when the interest rate changes. What is the correct way to represent this update in Corda?

Store the updated interest rate in a separate database and reference it from the state

Delete the old state and create a new one with the same ID

Create a new state with the updated interest rate and mark the old state as consumed

Modify the existing state in place to change the interest rate

A Corda network is used for a supply chain finance application. A notary is configured to validate transactions. The notary is also a member of the network and participates in some trades. What is the primary role of the notary in this network?

To provide uniqueness consensus and timestamping for transactions

To validate the business logic of every transaction

To act as a central authority that approves all transactions

To store a copy of all transactions for audit purposes

EC-CouncilBlockchain Fintech Certification

Domain 9Objective 4

R3 Corda Application in Blockchain Finance BFC Practice Questions (Page 8)

Part of the Financial Modeling and Enterprise Platforms domain, which makes up ~13% of our current practice bank.

43questions here

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Questions 36–40

36foundation · easy
What is the primary way that Corda integrates with existing legacy financial systems?
Select an answer first
37foundation · easy
How can Corda be used in the area of digital assets?
Select an answer first
38application · medium
A fintech startup is evaluating Corda for a cross-border payments application. They need to ensure that only the sending and receiving banks can see the payment details, and that the transaction is finalized quickly. Which Corda feature directly supports the privacy requirement?
Select an answer first
39application · medium
A Corda state represents a bond issuance. The bond has a maturity date and an interest rate. The state is updated when the interest rate changes. What is the correct way to represent this update in Corda?
Select an answer first
40application · medium
A Corda network is used for a supply chain finance application. A notary is configured to validate transactions. The notary is also a member of the network and participates in some trades. What is the primary role of the notary in this network?
Select an answer first

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