Practice Banking And Finance (13.3.6) - Applications of Data Science

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9 questions

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3 cards from this section. Quick, good the night before a test.
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6 questions · about 4 min · pass mark 70%. Hints available.
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Quiz
3 questions · about 2 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
What is the main purpose of fraud detection?
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Think about why banks need to secure customer funds.
Question 2.
What does credit scoring help determine?
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Consider the financial decisions banks make.
3Question 3.
What is one key purpose of fraud detection?
- Increase loan approvals
- Identify unusual transactions
- Enhance marketing efforts
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Consider the security of customer accounts.
4Question 4.
True or False: Credit scoring only relies on a borrower's income.
- True
- False
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Think about other data points that could be relevant.
Question 5.
Create a hypothetical dataset that could be used for credit scoring and explain the types of analyses you would conduct.
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Think of what lenders need to know about a borrower.
Question 6.
Design a basic fraud detection algorithm that flags transactions. What parameters would it consider?
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Focus on what makes a transaction suspicious.

5 more questions in this section. Enroll free to practise them all.