Security And Crypto Assets

Summary

In both personal and real security, the right of security depends on the principal obligations validity. A kustingsbrief is a mortgage bond registered with land transfer to secure unpaid purchase balances. Crypto assets in South Africa are not legal tender and are not classified as e-money under the National Payment Systems Act. Digital currency denominated in fiat currency differs from in-game currencies like World of Warcraft Gold. Credit cards have a credit limit, contrary to the belief they are ideal for regular payments without limits.

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Question *.* (* mark) True or false: A “kustingsbrief”... is a type of mortgage bond, that is registered at the same time as the transfer of land, to secure the unpaid balance of the purchase price. It is typically in favour of a seller or another person or financial institution who advanced the balance of the purchase price to the buyer. a. True b. False
The correct answer to Question *.* is:
a. True
A "kustingsbrief" is indeed a type of mortgage bond registered simultaneously with the transfer of land to secure the unpaid balance of the purchase price, typically in favor of the seller or another party who advanced the balance.
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Question *.* (* mark) Which one of the following statements regarding crypto assets is incorrect? a. The use of crypto assets in South Africa is dependent on retailers voluntarily using it through both online and physical transactions. b. At present under South African Law, crypto assets do not have the status of legal tender. c. Crypto assets are regarded as a form of e-money in terms of the National Payment Systems Act * of *. d. Cryptocurrency is a subset of virtual currencies.
The incorrect statement regarding crypto assets is:
c. Crypto assets are regarded as a form of e-money in terms of the National Payment Systems Act * of *.
Crypto assets are not classified as e-money under this Act.
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True or false: Digital currency is a digital form of payment that is denominated in fiat currency and an example of such is World of Warcraft Gold. a. True b. False
False. Digital currency that is denominated in fiat currency, like digital dollars or euros, is different from in-game currencies like World of Warcraft Gold, which have no real-world value outside the game.
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True or false: Digital currency is a digital form of payment that is denominated in fiat currency and an example of such is World of Warcraft Gold. a. True b. False
The correct answer to the question is:
b. False
World of Warcraft Gold is not denominated in fiat currency. It's an in-game currency rather than a digital currency tied to a fiat currency. Digital currencies like Bitcoin or e-money are better examples of digital forms of payment denominated in fiat currency.
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Choose the incorrect option: Certain advantages relating to the use of credit cards as a form of modern payment method include: a. the card holder does not have to carry cash on their person. b. the credit card can be used both within South Africa and across borders in other countries. c. they are ideally used for regular monthly payments as there is typically no credit limit. d. None of the above.
The incorrect option regarding the advantages of using credit cards is:
c. they are ideally used for regular monthly payments as there is typically no credit limit.
Credit cards do have a credit limit, which is determined by the issuing bank based on various factors.
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