Business functions, regulation and technology

A consortium of electronics manufacturers wants to ensure that the cobalt used in their batteries is not sourced from conflict zones. They implement a technology that creates an immutable, decentralized, and time-stamped digital ledger of every transaction from the mine to the factory. Which technology are they utilizing?

A predictive healthcare provider uses algorithms to analyze petabytes of unstructured data, including patient social media posts, wearable device metrics, and global epidemiological reports, to forecast localized disease outbreaks. Which of the '4 Vs' of Big Data is most strongly demonstrated by the inclusion of social media posts and wearable metrics alongside traditional medical records?

A national smart-grid energy company discovers that malicious software has encrypted their core distribution databases. The attackers demand a payment of $5 million in cryptocurrency to provide the decryption key, threatening to shut down power to major cities if unpaid. What specific type of cyber-security threat is this?

MetaEstate is a virtual real estate platform where users buy digital land. Criminals have started using stolen credit cards to buy digital land, immediately selling it to legitimate users for cryptocurrency, and then transferring the crypto to offshore wallets. Which stage of the money laundering process does the 'selling of the digital land to legitimate users' represent?

In a fully automated fintech application, the system automatically approves micro-loans based on an AI credit score. However, a human compliance officer must manually review and authorize any loan exceeding $10,000. Furthermore, the compliance officer does not have the system permissions to alter the AI's scoring algorithm. What internal control principle is primarily being demonstrated here?

True or False: 'Spear-phishing' is a cyber-attack where millions of generic emails are sent out randomly in hopes that a few people will click a malicious link.

A company subscribes to a cloud-based accounting software (like Xero or QuickBooks) where they simply log in via a web browser and use the application without managing any underlying servers. Which cloud computing model is this?

True or False: In auditing, 'compliance testing' is used to verify the monetary accuracy of a specific transaction, whereas 'substantive testing' checks if internal controls are operating effectively.

SECTION B - SCENARIO 3 (Syllabus C) 'LedgerLogix' is a decentralized finance (DeFi) exchange. Task 1: They use a distributed, immutable ledger to record all trades. Task 2: Hackers flood their servers with fake traffic, taking the exchange offline. Task 3: An auditor traces a specific trade from the user's wallet through the exchange to verify its existence. Task 4: The exchange requires all users to submit government ID before trading to prevent illicit funds from entering the system. Which of the following correctly identifies the concepts in Tasks 1 to 4?