Jeff and Nathan Are Going to a Concert and Jeff

question 55

Multiple Choice

Jeff and Nathan are going to a concert and Jeff forgot his wallet back at home. Nathan has extra cash and lends Jeff $100. Jeff has his phone with him and Interac e-transfers the $100 to Nathan. This example illustrates which innovation in banking?

• A) theft protection
• B) convenient deposit options
• C) increased access to funds
• D) real-time monitoring of funds

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Definitions:

Digital Wallets

Electronic devices or online services that allow individuals to make electronic transactions, including purchasing items on-line with a computer or using a smartphone to purchase something at a store.

Hot and Cold

In data storage, "hot" refers to data that is frequently accessed, while "cold" refers to data that is infrequently accessed and stored for the long term.

Glycoproteins

Proteins that have carbohydrate groups attached to the polypeptide chain, playing crucial roles in cell-cell interactions and immune function.

Phospholipid Bilayer

The fundamental structure of a cell membrane, composed of two layers of phospholipids, with hydrophobic tails facing inward and hydrophilic heads facing outward.