Module 3 Quiz

Test your understanding of digital payment systems covered in Lessons 9-12.

Passing Score: 70%

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Quiz Questions

See the interactive quiz at: frontend/defi-high-school/quizzes/money-basics/module-03-quiz.html

Topics Covered:

• How card payments work behind the scenes

• The parties involved in card transactions

• Payment apps as digital IOU systems

• Why bank transfers take days

• The concept of "float" and who profits

• Who really controls money in accounts

Key Concepts to Review:

1. The difference between authorization, clearing, and settlement

2. Why merchants pay 2-3% on card transactions

3. How payment apps create instant-feeling transfers

4. ACH batch processing and why it's slow

5. The control spectrum (cash to crypto)

6. Usage rights vs. ownership rights for money