FINAL EXAMSI. TRUE/ FALSE: Write TRUE if the statement is correct and FALSE if it is otherwise. 1.The Internet reduces transaction costs in value chains and offers an efficient means of communication to anyone with an Internet connection. 2. Virtual communities began online after the Internet was in general use. 3. Most of the early Web community businesses are open and thriving today. 4. The general idea behind all of the social networking sites is that people are invited to join by existing members who think they would be valuable additions to the community. 5. The 2008 U.S. elections saw the first major use of blogs as a political networking tool. 6. Any business that uses the Web becomes an international business instantly. 7. Businesses that operate on the Web must comply with the same laws and regulations that govern the operations of all businesses. 8. In the physical world, geographic boundaries rarely coincide with legal and cultural boundaries. 9. The legal systems of most countries include a concept called constructive notice. 10. Physical boundaries are a convenient and effective way to announce the ending of one legal or cultural system and the beginning of another. 11.Digital certificates never expire. 12. Message packets on the Internet travel a planned path from a source node to a destination node. 13. Any message traveling on the Internet is subject to secrecy, integrity, and necessity threats. 14. One significant threat to electronic commerce is theft of sensitive or personal information. 15. Secrecy protection is a legal matter. 16. Fewer than 5 percent of all credit card transactions are completed online, but those transactions are responsible for about 50 percent of the total dollar amount of credit card fraud. 17. The front-end processor handles chargebacks and any other reconciliation items through the interchange network and the acquiring and issuing banks, including the ACH transfers. 18. Many stores that accept credit cards require a minimum purchase amount of $50. 19. Small purchases are not profitable for merchants that accept only credit cards for payment. 20. Concerns about electronic payment methods include privacy and security, independence, portability, and convenience. II. MULTIPLE CHOICE. Write the Letter of your answer on the answer sheet provided. Use CAPITAL LETTERS only. 1.____ were computers that allowed users to connect through modems (using dial-up connections through telephone lines) to read and post messages in a common area. a. Electronic social systems c. IRC systems b. Bulletin chat systems d. Bulletin board systems 2. A(n) ____ is a gathering place for people and businesses that does not have a physical existence. a. meetup c. lock-in community b. online community d. escrow service 3. A(n) ____ site is a Web site that allows individuals to create and publish a profile, create a list of other users with whom they share a connection (or connections), control that list, and monitor similar lists made by other users. a. social commerce c. social networking b. electronic commerce d. social medium UNIX b. a. tort d. 100 c.C. forum selection c. Tiffany 7. Linux d. The trend toward having readers help write the online newspaper is called ____ journalism. ActiveX controls run only on computers with ____ operating systems. 2000 b. Vickrey's b. a. federal courts have ____ over issues governed by federal law. subject-matter jurisdiction 11. a. The earliest written records of auctions are from Babylon and date from ____ B. subject-matter jurisdiction c. hidden route b. Sun Microsystems 14. long-arm statutes d. A(n) ____ is a program hidden inside another program or Web page that masks its true purpose. In the United States. a. IBM d. subject-matter jurisdiction c. Notice 9. Windows c. A(n) ____ is an object that contains programs and properties that Web designers place on Web pages to perform particular tasks. a. a. a. a. statewide jurisdiction b. objective c. Jurisdiction c. insider program 13. Subject-matter jurisdiction b. a. A ____ clause is a statement that the contract will be enforced according to the laws of a particular state. forum selection 12. Trojan horse d. plug-in 15. Mac . a. ____ in 1744 and Christie's in 1766. collective 5. jurisdiction d. but generally create personal jurisdiction over nonresidents who transact business or commit tortious acts in the state. legitimacy 10.4. William's c. a. 500 d. deposition 8. ____ is a court's authority to decide a particular type of dispute. The details of ____ vary from state to state. A ____ is an intentional or negligent action taken by a legal entity that causes harm to another legal entity. a. 4000 6. peer d. social b. Oracle b. personal jurisdiction d. The 18th century saw the birth of two British auction houses. mask program c. participatory c. Personal jurisdiction d. Microsoft c. ActiveX control b. Java is a programming language developed by ____. contract exception c. notice b. personal jurisdiction b. Sotheby's d. Java++ d. crime b. A(n) ____ is software that attaches itself to another program and can cause damage when the host program is activated. Spam III. . decryption 18. Pharming b. The largest dollar volume of payments today are made using ____. Privacy d. a. A ____ is a stored-value card that is a plastic card with an embedded microchip that can store information. a. Phishing b. Money laundering d. drift b. cookie d. applet c. ____ is a technique for committing fraud against the customers of online businesses. Money laundering c. Secrecy c. virus b. firewall b. debit card d. charge card b. a. Due diligence b. ____ is a key element in a phishing attack. Pharming c. a. debit cards d. a. a. 1. Sensitivity 19. Server-side c. message digest 17. interval d. which is the delay that occurs between the time that a person writes a check and the time that check clears the person’s bank. Due diligence c. a user can pay off the entire card balance or pay a minimum amount each billing period. ACL c. a. ____ is the protection of individual rights to nondisclosure. Banks have been working for years to develop technologies that will help them reduce the ____. Money laundering 25. Identity theft d. Due diligence d. fluctuation c. float 23. Fill in the blanks.16. credit card c. steganography d. a. ____ digital wallets remain on a server and thus require no download time or installation on a user’s computer. Chargeback 24. Virtual 20. a. paper checks c. Paypal 22. a. The term ____ describes the process of hiding information within another piece of information. Paypal b. Client-side d. smart card 21. With a(n) ____________________ card. credit cards b. ____ is a criminal act in which the perpetrator gathers personal information about a victim and then uses that information to obtain credit. Necessity b. or modification of assets. 8. 6. 3. A(n) ____________________ is used to identify services provided. ____________________ cookies exists until the Web client ends the connection. 12. The ____________________ patent. Cookies can be placed on the client computer by the Web server site. but in rising every time we fall. Give 5 significant lessons that you have learned in our subject and explain how you will be able to apply this in your career in the future. A(n) ____________________ auction is often better for the seller because the bidder with the highest private valuation will not let the bid drop much below that valuation for fear of losing the item to another bidder. 11. 7. and sell an invention. 15. 9. 20.” ― Oliver Goldsmith God Bless in your exams! .2. ___________________ cards give consumers a unique card number that is valid for one transaction only. ESSAY. ____________________ security means having all security measures working together to prevent unauthorized disclosure. 1. A(n) ____________________ is a distinctive mark. The name or part of that name that a business uses to identify itself is called a(n) ____________________. destruction. 4. Businesspeople often use the term ____________________ as a general term to describe all types of plastic cards that consumers use to make purchases. successive lower (next highest) bidders are awarded the remaining items at the price they bid. Dutch auctions are also called ____________________ auctions. 17. A(n) ____________________ is an exclusive right granted by the government to an individual to make. ____________________ cookies remain on the client machine indefinitely. 13. In 2004. 5. use. If multiple items are being auctioned in a(n) ____________________ sealed-bid auction. 18. A Web ____________________ is a tiny graphic that a third-party Web site places on another site’s Web page. motto. 10. A(n) ____________________ cookie originates from a Web site other than the site being visited. is quite controversial. 19. “Our greatest glory is not in never falling. in which case they are called ____________________ cookies. device. 14. An entity becomes liable for ____________________ infringement if it is capable of supervising the infringing activity and obtains a financial benefit from the infringing activity. IV. or implement that a company affixes to the goods it produces for identification purposes. William Vickrey won the 1996 Nobel Prize in Economics for his studies of the properties of ____________________ sealed-bid auctions. which protects a specific set of procedures for conducting a particular business activity. Google used a(n) ____________________ auction to sell its stock to investors in its initial public offering. 16.