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2025 312-82: Updated Valid EC-Council Blockchain Fintech CertificationB|FC exam Test Review
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| Topic |
Details |
| Topic 1 |
- Ethereum: This part of the exam evaluates the expertise of blockchain developers and IT professionals in Ethereum, the leading platform for decentralized applications (dApps).
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| Topic 2 |
- Insurance Applications: This section evaluates the expertise of insurance professionals, such as underwriters and claims managers in utilizing blockchain technology within the insurance industry.
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| Topic 3 |
- Open Source: This module assesses the understanding of software developers and IT professionals concerning open-source blockchain frameworks. It explores the advantages of open-source development in blockchain, such as fostering innovation, transparency, and collaboration, as well as how professionals can contribute to or adopt these open-source solutions.
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| Topic 4 |
- Decentralized Applications (dApps): This final section examines the skills of software developers in creating decentralized applications (dApps). It discusses the design, development, and deployment of dApps and their potential to revolutionize traditional business models by offering more secure, transparent, and efficient solutions.
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| Topic 5 |
- Blockchain Project Implementation: In this section, the exam focuses on the capability of project managers to execute blockchain projects effectively.
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| Topic 6 |
- Blockchain as a Service (BaaS): This section measures the skills of IT architect in deploying Blockchain as a Service (BaaS). It outlines how BaaS enables organizations to create and manage blockchain applications without building their own infrastructure, simplifying the adoption and scaling of blockchain technologies.
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EC-COUNCIL EC-Council Blockchain Fintech CertificationB|FC exam Sample Questions (Q46-Q51):
NEW QUESTION # 46
FinCEN requires any person engaging in the business of money transmission or the transfer of funds, including CVC, to (I) maintain an ''effective'' written anti-money laundering program reasonably designed to prevent the business from being employed to help the financing of terrorist activities and money laundering and________.
- A. Report suspidous transactions
- B. Maintain detailed records of all customers
- C. Submit reports to the SEC
- D. Registry as a money service business
Answer: A
Explanation:
FinCENrequires money transmitters and companies involved in virtual currency (CVC) transmission to report suspicious transactions as part of their anti-money laundering (AML) responsibilities. This is in addition to maintaining an effective AML program and registering as a money service business (MSB).
Key Details:
* AML Program: The program must be reasonably designed to detect and prevent the use of financial services for money laundering or terrorist financing.
* Reporting Suspicious Activity: FinCEN mandates that companies must file Suspicious Activity Reports (SARs) for any transactions that appear to be potentially suspicious or indicative of illegal activities.
* Regulatory Compliance: This requirement ensures that businesses adhere to federal regulations, contributing to a secure financial system by monitoring and reporting illicit activity.
Therefore,A. Report suspicious transactionsis the correct answer, as this is a key requirement for companies under FinCEN's regulations regarding money transmission and virtual currencies.
NEW QUESTION # 47
The financial Action Task force defines virtual asset providers as companies that (choose two):
- A. Sell products for virtual currency
- B. Transfer virtual assets
- C. Exchange virtual assets for fiat currency
- D. Purchase virtual currency
Answer: B,C
Explanation:
TheFinancial Action Task Force (FATF)definesVirtual Asset Service Providers (VASPs)in its guidelines to include entities that engage in theexchange of virtual assets for fiat currencyand thetransfer of virtual assets. This categorization is part of the FATF's efforts to regulate and monitor the flow of virtual assets to mitigate risks associated with illicit activities.
Key Details:
* Exchange and Conversion Services: FATF recognizes companies that offer exchange services between virtual assets and fiat currencies as VASPs. These services are critical for converting virtual assets into forms that can be readily used in traditional markets.
* Transfer Services: VASPs that facilitate the transfer of virtual assets are also within the FATF's regulatory scope. This includes services that manage, transfer, or act as intermediaries in the movement of virtual assets between users, ensuring these transactions are conducted transparently and within regulatory frameworks.
Therefore,C. Exchange virtual assets for fiat currencyandD. Transfer virtual assetsare the correct answers, as they align with the FATF's definition of VASPs.
NEW QUESTION # 48
What is the term for the smallest subunit in Ether.
- A. Wie
- B. ETH
- C. Gas
- D. Bitcoin
Answer: A
Explanation:
The smallest subunit of Ether is called aWei. Ether (ETH) is divided into several subunits for precision in transactions, with Wei being the smallest, equivalent to 10#1810
