Bitcoin End-of-Course Exam

Instructions

This exam consists of 10 multiple-choice questions. For each question, select the best answer from the choices given. Write your answers in a notepad and see if you've passed (Answer key at the end).

Question 1

What is Bitcoin?

(A) A digital currency
(B) A peer-to-peer payment system
(C) A decentralized ledger
(D) All of the above

Question 2

Who created Bitcoin?

(A) Satoshi Nakamoto
(B) Hal Finney
(C) Nick Szabo
(D) Craig Wright

Question 3

How does Bitcoin work?

(A) Bitcoin is a peer-to-peer payment system that uses cryptography to secure transactions.
(B) Bitcoin is a decentralized ledger that records all Bitcoin transactions.
(C) Bitcoin is a digital currency that is not subject to government or financial institution control.
(D) All of the above

Question 4

What are the benefits of using Bitcoin?

(A) Bitcoin is a secure payment system.
(B) Bitcoin is a fast payment system.
(C) Bitcoin is a global payment system.
(D) All of the above

Question 5

What are the risks of using Bitcoin?

(A) Bitcoin is a volatile asset.
(B) Bitcoin is a relatively new asset.
(C) Bitcoin is not widely accepted as a payment method.
(D) All of the above

Question 6

What is the Bitcoin protocol?

(A) The Bitcoin protocol is a set of rules that govern the Bitcoin network.
(B) The Bitcoin protocol is a set of algorithms that are used to mine Bitcoin.
(C) The Bitcoin protocol is a set of rules that govern Bitcoin transactions.
(D) All of the above

Question 7

What is Bitcoin mining?

(A) Bitcoin mining is the process of adding new blocks to the Bitcoin blockchain.
(B) Bitcoin mining is the process of verifying Bitcoin transactions.
(C) Bitcoin mining is the process of creating new Bitcoin.
(D) All of the above

Question 8

What are Bitcoin transactions?

(A) Bitcoin transactions are records of Bitcoin payments.
(B) Bitcoin transactions are stored on the Bitcoin blockchain.
(C) Bitcoin transactions are verified by Bitcoin miners.
(D) All of the above

Question 9

What are Bitcoin addresses?

(A) Bitcoin addresses are unique identifiers for Bitcoin wallets.
(B) Bitcoin addresses are used to send and receive Bitcoin.
(C) Bitcoin addresses are stored on the Bitcoin blockchain.
(D) All of the above

Question 10

What are Bitcoin wallets?

(A) Bitcoin wallets are software applications that store Bitcoin.
(B) Bitcoin wallets are used to send and receive Bitcoin.
(C) Bitcoin wallets are stored on the Bitcoin blockchain.
(D) All of the above

Answer Key (Click to open)

Answer Key

Grading

Each question is worth 1 point. To pass the exam, you must score at least 70%.

Congratulations!

If you have passed the exam, you have demonstrated a good understanding of Bitcoin.

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