The rise of non-fungible tokens

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. What does the acronym NFT stand for?

  2. What feature unites cryptocurrencies?

  3. What is the definition of a token?

  4. Which of the following is the most accurate description of a non-fungible token (NFT)?

  5. Which of the following is not a known benefit of an NFT?

  6. Which of the following reasons describes why NFTs are useful in the art world?

  7. What does the ownership of an NFT not necessarily grant?

  8. For accountants and auditors, what is the key question they should ask in relation to NFTs?

  9. Which of the following is not a known risk of NFTs?

  10. Which of the following is not a recent example of an NFT?

1 Unit