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Basics Beginner:
Understanding and Avoiding Fraud and Scams
Test your knowledge
Choose wisely. There is only one correct answer to each question.
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1.
Telephone swindlers demand immediate compliance from their victims because _______.
Choose wisely. There is only one correct answer.
They don't want victims to take time to reflect on what's being offered
They don't want victims to seek advice from others
Both of the above
None of the above
Both of the above. Swindlers don't want their scams to be exposed.
2.
Scammers who target the elderly usually come across as _______.
Choose wisely. There is only one correct answer.
Mean and vicious
Likable
Naive
Likable. Scammers who target the elderly put on a positive face. Many elderly find it hard to turn down someone in need.
3.
It is possible to actually receive what you were promised in a money transfer scam.
Choose wisely. There is only one correct answer.
True
False
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.
Why are older people common targets for romance scammers?
Choose wisely. There is only one correct answer.
They don't understand social media.
They are usually single.
They usually have more assets than younger people.
They aren't.
They usually have more assets than younger people. Older people can be prime targets because of their assets.
5.
Why are pyramid schemes unsustainable by nature?
Choose wisely. There is only one correct answer.
There are never enough participants to keep the pyramids growing
Membership fees are too low
They pay too much in dividends to their members
They're not unsustainable; they can last a very long time, in fact
There are never enough participants to keep the pyramids growing. They are a fast way for scammers to defraud others.
6.
Which of the following descriptions of a work-at-home job is most likely to be that of a scam?
Choose wisely. There is only one correct answer.
A long list of all the companies it serves
An assurance that anyone can do it
It pays twice minimum wage
Its physical address, phone number, and Website
An assurance that anyone can do it. Of the choices, this one is the most likely to be from a scam.
7.
Creating artificial demand for a stock and then selling it to make a quick profit is known as _______.
Choose wisely. There is only one correct answer.
Prime bank note fraud
A Ponzi scheme
Pump and dump
All of the above
Pump and dump. Pumping and dumping means creating artificial demand and then selling in order to gain from it.
8.
In the world of cryptocurrency, what is a private key?
Choose wisely. There is only one correct answer.
A password
A string of secret numbers used to sign transactions
A secret word that a scammer sends you
None of the above
A string of secret numbers used to sign transactions. A private key provides access to your cryptocurrency.
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