Functional Testing of Financial Systems CT-FT Practice Questions (Page 6)

Questions 26–29

1. 26application · medium

   During functional testing of a payment system, a tester discovers that when a user enters a negative amount in the payment field, the system accepts it and processes a negative payment, which could lead to incorrect account balances. What is the most appropriate severity classification for this defect?

   • ACritical severity, because it could be exploited to steal money from the system.
   • BLow severity, because it only affects a specific input and can be easily fixed.
   • CMedium severity, because it causes incorrect data but does not crash the system.
   • DHigh severity, because it allows invalid transactions that can corrupt financial records and balances.
   Reveal Solution Discussion Select an answer first
2. 27application · medium

   A retail bank is implementing a new loan origination system. The compliance team has specified that the annual percentage rate (APR) must be calculated using the actuarial method and displayed to two decimal places. The test team is designing functional test cases. Which test case best validates the APR calculation requirement?

   • AEnter a loan amount, term, and interest rate, then verify the displayed APR matches the expected value computed independently using the actuarial formula.
   • BEnsure that the APR field is included in the loan approval workflow and cannot be bypassed.
   • CVerify that the APR field is visible and editable on the loan application screen for all user roles.
   • DConfirm that the APR is stored in the database as a decimal with two places after the decimal point.
   Reveal Solution Discussion Select an answer first
4. 28foundation · easy

   What is the purpose of assigning a severity level to a defect?

   • ATo identify the module where the defect occurred
   • BTo prioritize the order in which defects should be fixed
   • CTo determine which tester found the defect
   • DTo track the time spent on fixing the defect
   Reveal Solution Discussion Select an answer first
5. 29application · medium

   A financial institution is implementing a new anti-money laundering (AML) system. The system must flag transactions above a certain threshold and report them to the compliance team. The test team is analyzing the functional requirements. Which requirement is most critical for the AML system to be effective?

   • AThe system must flag all transactions above the threshold and generate a report for the compliance team.
   • BThe system must be available 99.99% of the time to ensure no transactions are missed.
   • CThe system must integrate with the core banking system to retrieve transaction data.
   • DThe system must have a user-friendly interface for compliance officers to review flagged transactions.
   Reveal Solution Discussion Select an answer first