Financial System Architectures and Testable Workflows CT-FT Practice Questions (Page 3)

Questions 11–15

1. 11foundation · easy

   Why is auditability an important characteristic of a testable financial workflow?

   • AIt allows the workflow to be executed faster
   • BIt ensures that every action and state change is logged and traceable, which is essential for verifying correct behavior and for regulatory compliance
   • CIt makes the workflow more complex and harder to test
   • DIt eliminates the need for testing
   Reveal Solution Discussion Select an answer first
2. 12application · medium

   A bank is implementing a new anti-money laundering (AML) workflow that screens transactions against a watchlist. The workflow must comply with regulatory requirements for reporting suspicious activity. Which testing activity is most directly required by the regulatory constraint?

   • AEnsuring the workflow is user-friendly for compliance officers
   • BChecking that the workflow can be easily modified for new watchlist formats
   • CTesting the workflow's performance under high transaction volume
   • DVerifying that the workflow generates a report for every transaction that matches the watchlist
   Reveal Solution Discussion Select an answer first
4. 13application · medium

   A financial workflow for trade settlement includes steps for trade capture, validation, confirmation, and settlement. The workflow is implemented as a state machine. Which characteristic makes this workflow testable?

   • AThe workflow is documented only in the code comments
   • BEach state has a defined set of possible transitions
   • CThe workflow is executed as a single batch process
   • DThe workflow uses a shared database for all state data
   Reveal Solution Discussion Select an answer first
5. 14foundation · easy

   Which of the following best describes the typical architecture of a financial system?

   • AA single monolithic application that handles all banking, payment, and trading functions in one codebase
   • BA collection of integrated components, including core banking, payment processing, and trading systems, that work together to support financial operations
   • CA single database that stores all financial data, with no application logic or processing components
   • DA network of independent, unconnected systems that operate in isolation without any data exchange
   Reveal Solution Discussion Select an answer first
6. 15foundation · easy

   In a typical financial system architecture, which component is primarily responsible for managing customer accounts and maintaining balances?

   • ACore banking system
   • BRegulatory reporting system
   • CPayment processing system
   • DTrading system
   Reveal Solution Discussion Select an answer first