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.
If you are unsure whether a broker is licensed, you should contact _______.
Your state securities regulator. Brokers are registered at the state level.
3.
Which of the following descriptions of a work-at-home job is most likely to be that of a scam?
An assurance that anyone can do it. Of the choices, this one is the most likely to be from a scam.
4.
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.
5.
Telephone swindlers demand immediate compliance from their victims because _______.
Both of the above. Swindlers don't want their scams to be exposed.
6.
Why might a money-transfer opportunity require that you sign a non-disclosure agreement?
To prevent you from discussing the deal with other people. This is a common tactic in investment fraud.
7.
When you send a cryptocurrency payment to another person, it is not reversible.
True. Crypto payments are not reversible; to get one back, the other person would have to send it to you, which is not likely to happen if the person had defrauded you.
8.
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.