Personal Finance Courses: Consumer Protection against Fraud

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1.
When shopping online, it is safer to shop with a _______.
Choose wisely. There is only one correct answer.
Credit card. Credit cards offer more protection than debit cards.
2.
Trojans and spyware are examples of _______.
Choose wisely. There is only one correct answer.
Malware. Malware is software that damages or disables computers.
3.
If a salesman is promoting an investment opportunity as being limited to just a few people, that means it is likely legitimate.
Choose wisely. There is only one correct answer.
False. Generally, describing such an opportunity as limited to just a few people is a sign of a scam. It is designed to make you feel special and therefore willing to give up your money.
4.
Which of the following will stop payment on your check in the event of identity theft?
Choose wisely. There is only one correct answer.
Both of the above. Both will stop payment on your check in the event of identity theft.
5.
Which law gives a consumer the right to have a credit report item dispute resolved within 30 days?
Choose wisely. There is only one correct answer.
Fair Credit Reporting Act. The FCRA gives consumers the right to have disputed information investigated and reported back to them within 30 days.
6.
Telephone scammers assume that people they call will want to be courteous to them on the phone.
Choose wisely. There is only one correct answer.
True. This courtesy is part of how they trap innocent people.
7.
When your credit record is harmed by identity theft, you will learn about it right away.
Choose wisely. There is only one correct answer.
False. Though in some cases you might, in many others you won't until you try to take out a loan, which can be years down the road.