Choose wisely. There is only one correct answer to each question.
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1.
Being paid to recruit others to a sales opportunity is sufficient to indicate that the opportunity is actually a pyramid scheme.
False. Though it's a part of a pyramid scheme by nature, being paid to recruit others is not by itself an indicator, as even legitimate firms may offer fees for recruitment.
2.
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.
3.
Creating artificial demand for a stock and then selling it to make a quick profit is known as _______.
Pump and dump. Pumping and dumping means creating artificial demand and then selling in order to gain from it.
4.
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.
5.
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.
6.
Romance scammers try to prey on our _______.
Any of the above. A romance scammer takes advantage of our basic human goodness in order to take money from us.
7.
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.
8.
Why might a work-at-home job in which you reship items you receive in the mail to others be a scam?
The items might actually be stolen. Reshipping is often a cover for sending stolen items.