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312-82 Latest Guide Files, 312-82 Exam Braindumps

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EC-COUNCIL 312-82 Exam Syllabus Topics:

Topic
Details

Topic 1

Security in Blockchains: This part assesses the knowledge of cybersecurity experts, IT auditors, and compliance professionals in securing blockchain systems.

Topic 2

Introduction: This part of the exam gauges the basic knowledge of blockchain technology for professionals like financial analysts and covers key blockchain concepts such as distributed ledgers, consensus mechanisms, and smart contracts, forming the basis for more advanced topics covered later.

Topic 3

Blockchain Project Implementation: In this section, the exam focuses on the capability of project managers to execute blockchain projects effectively.

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.

Topic 5

Blockchain’s Cryptocurrency Assets: This segment tests the proficiency of professionals like cryptocurrency traders in the area of cryptocurrency assets. It examines the role of blockchain in creating and managing digital currencies like Bitcoin and Ethereum, as well as its broader impact on the financial world.

Topic 6

Ethereum: This part of the exam evaluates the expertise of blockchain developers and IT professionals in Ethereum, the leading platform for decentralized applications (dApps).

Topic 7

Bitcoin: This module zeroes in on Bitcoin, the first and most prominent cryptocurrency. It tests the understanding of blockchain developers about how Bitcoin works, its impact on the financial landscape, and the challenges and opportunities related to its adoption as a digital currency.

Topic 8

Financial Applications: This section assesses the understanding of blockchain applications within financial services for professionals such as fintech developers and covers how blockchain is reshaping areas like payments, remittances, and trading by providing secure, transparent, and efficient alternatives to conventional methods.

Topic 9

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.

Topic 10

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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EC-COUNCIL EC-Council Blockchain Fintech CertificationB|FC exam Sample Questions (Q12-Q17):

NEW QUESTION # 12
______is a computer program that runs stop a blockchain and embedded within it are governance and business logic rules

A. DAO
B. DaS
C. DAC
D. Dapps

Answer: D

Explanation:
Decentralized Applications (Dapps)are applications that run on a blockchain network and include embedded governance and business logic rules. Unlike traditional applications, Dapps are decentralized, meaning they operate on a peer-to-peer network rather than a centralized server, leveraging smart contracts to automatically enforce rules and protocols without intermediaries.
Key Details:
* Characteristics of Dapps: Dapps are open-source, operate autonomously, and store data on a blockchain. They utilize smart contracts to handle various functions, from transaction processing to enforcing governance rules and executing business logic.
* Smart Contracts: The embedded rules within Dapps are typically coded as smart contracts, which are self-executing contracts with the terms of the agreement directly written into lines of code. This ensures that all transactions and operations within the Dapp are transparent, immutable, and automatically enforced.
* Use Cases: Dapps are commonly found in areas such as decentralized finance (DeFi), gaming, supply chain management, and social media, offering users more control and transparency compared to traditional applications.
In conclusion,Dapps (A)is the correct answer as it refers to computer programs running on a blockchain with embedded governance and business logic rules.

NEW QUESTION # 13
These wallets contain randomly generated private keys and are also called just a bunch of key wallets.

A. Brain Wallets
B. Deterministic Wallets
C. Non-Deterministic Wallets
D. Hierarchical Deterministic Wallets

Answer: C

Explanation:
Non-Deterministic Wallets, also known as"Just a Bunch of Keys" (JBOK)wallets, contain randomly generated private keys that are not derived from a single seed. In this type of wallet, each key is created independently and must be backed up individually, as there is no way to recover keys through a mnemonic seed phrase.
Key Details:
* Random Key Generation: Non-Deterministic wallets generate private keys independently, without a hierarchical or sequential structure. As a result, each key is standalone, and losing a key means losing access to the corresponding funds permanently.
* Backup Requirements: Since each key is unique and unrelated, Non-Deterministic wallets require separate backups for each key. This differs from Hierarchical Deterministic wallets, which can be restored using a single seed phrase.
* Use Case: These wallets were more common in the early days of cryptocurrency, but they are less favored today due to the convenience and recoverability provided by deterministic wallets.
In conclusion,C. Non-Deterministic Walletsis the correct answer, as it refers to wallets that contain randomly generated private keys and are known as JBOK wallets.

NEW QUESTION # 14
Which of the following are benefits of blockchain for financial services according to IBM ''Blockchain for Financial Services''?

A. Faster settlement
B. Automated compliance
C. Increased customer base
D. Streamlined regulations

Answer: A,B

Explanation:
According to IBM's "Blockchain for Financial Services", blockchain offers several benefits, including faster settlement and automated compliance. These features are critical in enhancing the efficiency and reliability of financial services.
Key Details:
Faster Settlement: Blockchain technology enables near-instantaneous settlement of transactions by eliminating the need for traditional intermediaries and reducing processing times, which can speed up transactions significantly compared to legacy systems.
Automated Compliance: Blockchain's transparency and immutability allow for the automatic recording and verification of regulatory requirements. Smart contracts can be used to enforce compliance rules in real-time, ensuring that transactions adhere to regulatory standards without manual intervention.
Impact on Financial Services: These benefits translate to reduced operational costs, improved transaction accuracy, and increased trust between parties, making blockchain an attractive solution for financial institutions.
Thus, A. Faster settlement and B. Automated compliance are the correct answers, as these are specific benefits of blockchain in financial services according to IBM.

NEW QUESTION # 15
_______is a word use to describe technologies which store, distribute and facilitate the exchange of value between users, either privately or publicly

A. DAO
B. Ledger
C. DLT
D. Blockchain

Answer: C

Explanation:
Distributed Ledger Technology (DLT)is a broad term used to describe technologies that store, distribute, and facilitate the exchange of value between users, either privately or publicly. DLTencompasses various types of ledgers, including blockchains, where data is replicated, shared, and synchronized across a distributed network.
Key Details:
* Definition and Scope: DLT refers to a digital system for recording transactions across multiple locations simultaneously. It allows for decentralized data management and reduces the need for a central authority to maintain a ledger.
* Private and Public Ledgers: DLT can be implemented in both private (permissioned) and public (permissionless) networks. In public DLT, anyone can participate, while private DLT restricts access to authorized participants only.
* Examples of DLT: Blockchain is one form of DLT, but other types include Directed Acyclic Graphs (DAGs) and Hashgraph. Each of these has unique mechanisms for data storage and consensus.
Therefore,C. DLTis the correct answer, as it is the term that broadly covers technologies used for the exchange and storage of value in distributed systems.

NEW QUESTION # 16
According to FinCEN what dictates the obligations of money transmitters?

A. How the company advertises itself
B. The business model
C. The company stated mission
D. The industry designation

Answer: B

Explanation:
According to theFinancial Crimes Enforcement Network (FinCEN), the obligations of money transmitters are determined primarily bythe business modelof the company. FinCEN regulations stipulate that companies engaged in money transmission services must comply with Anti-Money Laundering (AML) and Counter- Terrorism Financing (CTF) regulations, based on how they conduct their business rather than on their industry designation or self-description.
Key Details:
* Regulatory Basis: FinCEN's guidelines are focused on the activities of the business-specifically, whether it facilitates the transfer of money or currency on behalf of others. This regulatory approach ensures that companies involved in money transmission are subject to appropriate oversight, regardless of their industry.
* Activities Over Labels: Even if a company does not advertise itself as a money transmitter, it may still be subject to FinCEN regulations if its business operations fit the criteria for money transmission services.
* Compliance Requirements: Money transmitters must register with FinCEN and implement AML/CTF measures to prevent illicit activities, aligning their compliance obligations with the nature of their operations.
Thus,C. The business modelis the correct answer, as FinCEN focuses on the activities a company performs when determining regulatory obligations.

NEW QUESTION # 17
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