problem 1:

a) List and describe the major components of the MACSS.

b) S.W.I.F.T. monitors the payments traffic of members of the MACSS Closed User Group (CUG) and will direct any payments designated as MACSS RTGS payments to the FIN Y-Copy Service. In brief describe the how FIN Y-Copy service works.

c)

• What are the advantages of an online broker compared to the traditional broker?
• Outline the role of a specialist and that of a market maker.

d) List down the possible drivers behind the wide-spread success for mobile services.

problem 2:

a) Describe what you understand by the term brute force attack, giving an illustration of such an attack.

b) In brief outline the concept of Caesar cipher and recognize any related weaknesses.

c) Describe what you understand by encryption or decryption by using an appropriate illustration to support your answer and state on what two things the security of encrypted data is wholly dependent.

d) Distinguish between the symmetric and the asymmetric encryption system giving illustrations where essential to support your answer.

e) The given technologies can be applied to an e-banking infrastructure to make sure security. In brief describe the role of each one of them.

• SSL (Secure Socket Layer)
• Digital Certificate

problem 3:

a) List and describe the role of the different parties comprised in any e-payment system.

b) Outline five factors (characteristics) that find out the acceptance of an electronic payment method.

c)

• Outline the main differences between a credit and a debit card.
• describe why the use of credit cards is not appropriate for micro-payments and propose an alternate payment instrument which could be used.   

d) Describe the concept behind electronic check and what are the advantages of using a e-check instead of going for the normal paper-based check?