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1.
Why are older people common targets for romance scammers?
They usually have more assets than younger people. Older people can be prime targets because of their assets.
2.
Which of the following job offers is most likely a work-at-home scam?
Processing rebates for two hours a day for $500. Pay that is far above market rates is a classic sign of a scam.
3.
It is possible to actually receive what you were promised in a money transfer scam.
True. Though rare, it can happen, but you are usually being used to cover another person's illegal activity, and you can get in trouble for it.
4.
If you are unsure whether a broker is licensed, you should contact _______.
Your state securities regulator. Brokers are registered at the state level.
5.
How do pyramid schemes differ from legitimate sales opportunities?
They offer payments to people only for recruiting new members. Legitimate sales opportunities involve selling actual products, while pyramid schemes do not involve paying people to sell actual products.
6.
Telephone swindlers assume that people they call will want to be courteous to them on the phone.
True. This courtesy is part of how they trap innocent people.
7.
About how many seniors have been victimized by elder financial fraud?
One in 5. About one in 5 Americans over 60 have been defrauded financially.
8.
In the world of cryptocurrency, what is a private key?
A string of secret numbers used to sign transactions. A private key provides access to your cryptocurrency.