Deck 12: Emerging Technologies: Blockchain and Ai Automation

Question 1

In which of the following situations would blockchain add value?

A)Multiple parties that do not trust each other want to collaborate.
B)Management would like to automate routine tasks.
C)A prediction on weather related losses is needed.
D)Contracts need to be reviewed for revenue recognition.

Answer 1

A

Question 2

Which of the following is not accurate regarding blockchain?

A)Data is distributed safely.
B)The technology uses cryptography.
C)Consensus must be reached to propagate transactions.
D)Only the administrator keeps a copy of the entire database.

Answer 2

D

Question 3

The key difference between artificial intelligence applications and machine learning is that machine learning involves the computer learning from specific instructions versus experience.

Answer 3

False

Question 4

Which of the following is not a consensus algorithm?

A)Proof of miner.
B)Proof of work.
C)Proof of authority.
D)Proof of stake.

Question 5

Which of the following is a key difference between Bitcoin and Ethereum?

A)Only Bitcoin uses blockchain technology.
B)Only Bitcoin provides mining rewards.
C)Ethereum employs smart contracts.
D)Ethereum has no cryptocurrency.

Question 6

A benefit of blockchain is the lowered cost of processing transactions.

Question 7

Blockchain was built to minimize the use of:

A)US Dollars.
B)Regulators.
C)Intermediaries.
D)Accountants.

Question 8

Satoshi Nakamoto used all of the following when creating a distributed ledger system except:

A)Confusion Matrix.
B)Resource intensive mining.
C)Peer-to-peer transactions.
D)Open participation.

Question 9

Consortium blockchain has no access restrictions in relation to viewing or participating in the blockchain network.

Question 10

A use case for blockchain may exist wherever there is a significant cross-organization workflow.

Question 11

Blockchain is only used for cryptocurrency.

Question 12

Ethereum is a type of artificial intelligence.

Question 13

Smart contracts may be an opportunity for auditors as they contain business rules.

Question 14

The cost of a false prediction is important to data analysts.

Question 15

Which of the following is not benefit of blockchain?

A)Past information is easily edited.
B)New transactions are propagated to all participants.
C)Consensus must be reached to propagate transactions.
D)Participating parties do not need to trust each other.

Question 16

Artificial neural networks are the engines of machine learning.

Question 17

Smart contracts do all of the following except:

A)Define terms.
B)Define business rules.
C)Define miners.
D)Define transfer of assets.

Question 18

To be considered blockchain a technology must have all of the following except:

A)Rewardability.
B)Consensus.
C)Immutability.
D)Decentralization.

Question 19

How often is a block added to Ethereum?

A)Every 10 minutes.
B)Every 12-15 seconds.
C)Every 16-22 minutes.
D)Every second.

Question 20

Blockchain is a highly regulated technology.

Question 21

Deep learning is best described as:

A)A form of machine learning that involves complex,multilayer neural networks.
B)A form of machine learning that involves hidden neural networks.
C)A form of learning based on regression analysis.
D)A form of reinforcement learning.

Question 22

Which one of the following is not an example of machine learning assisting in an audit?

A)Reviewing journal entries.
B)Reviewing organization charts.
C)Reviewing cash transactions.
D)Reviewing journal entry descriptions.

Question 23

Artificial Intelligence can include all of the following except:

A)Database programming.
B)Visual perception.
C)Logical thinking.
D)Language translation.

Question 24

What is not a general function of blockchain technology?

A)Transfer digital assets.
B)Authenticate identities.
C)Generation of bitcoin.
D)Ability to create value.

Question 25

When an accounting team automates account reconciliations this is an example of:

A)Robotic process automation.
B)Spreadsheet automation.
C)Natural language automation.
D)Internet automation.

Question 26

How do data analysts use confusion matrices?

A)To predict a non-binary outcome.
B)To predict a binary outcome.
C)To understand a model's prediction results.
D)To audit artificial intelligence.

Question 27

If a machine is attempting to reduce the dimensions in a dataset it is using:

A)Reinforcement Learning.
B)Unsupervised Learning.
C)Supervised Learning.
D)Matrix Learning.

Question 28

One of the largest challenges across the accounting industry for auditing firms which use blockchain is:

A)Understanding business activities.
B)Continuous monitoring.
C)Deciphering cryptocurrency.
D)A gap in skillset.

Question 29

Which type of blockchain would an accounting department of a large international firm set up to track control testing?

A)Private.
B)Public.
C)Consortium.
D)Supply Chain Block.

Question 30

Which type of blockchain would a corporation and their key supplier set up to facilitate transactions?

A)Private.
B)Public.
C)Consortium.
D)Supply Chain Block.

Question 31

Which of the following is the best description of neural networks?

A)Mathematical models that convert inputs to outputs/predictions.
B)Intelligence exhibited by machines rather than humans.
C)A blockchain network where participants need permission to join the network.
D)A ledger where individual entries are separate in time and location.

Question 32

All of the following are challenges for auditors when auditing records residing in a blockchain network except:

A)Programming skills may be needed.
B)Complicated protocols may be difficult to understand.
C)Smart contracts cannot be used as evidence.
D)Converting traditional audit approaches to blockchain technology.

Question 33

Which of the following is an example of natural language processing?

A)A product that creates a language based confusion matrix.
B)A product which provides voice and visual communications.
C)A product which creates training manuals which are easy to understand.
D)A product which reads contracts and helps accountants with revenue recognition.

Question 34

Which type of blockchain offers economic reward for the computational proof of work in mining?

A)Private.
B)Public.
C)Consortium.
D)Supply Chain Block.

Question 35

Which statement below describes the relationship between artificial intelligence and machine learning?

A)Artificial intelligence is like a city and machine learning is like the state.
B)Artificial intelligence is like a database and machine learning is like a table in the database.
C)Machine learning is like a library and artificial intelligence is like a book.
D)Machine learning is like the general ledger and artificial intelligence is like an account.

Question 36

Which of the following is the least likely use case for implementing blockchain?

A)A grocery store would like to modernize their payroll systems.
B)A county would like to modernize how auto titles are transferred.
C)A foreign goods importer would like to track their product as they move to the United States.
D)American Express would like multiple vendors to allow customers to pay with loyalty points.

Question 37

Which of the following best represents the virtuous cycle of machine learning?

A)Input customer purchase data→Predict future purchases→Learn pattern.
B)Input customer purchase data→Learn pattern→Predict future purchases.
C)Predict pattern→Input purchase data→Learn pattern.
D)Predict outcome→Input data→Learn mistakes.

Question 38

If a machine learns by trial and error,it is using:

A)Reinforcement Learning.
B)Confusion Learning.
C)Semi-Supervised Learning.
D)Matrix Learning.

Question 39

When a bank has an input file of FICO scores and uses machine learning to help predict credit losses for each customer,they are likely using which type of learning?

A)Reinforcement Learning.
B)Unsupervised Learning.
C)Supervised Learning.
D)Matrix Learning.