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.
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.
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.
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.
6.
The perpetrators of Ponzi schemes typically pay money to some of the early investors because _______.
They want to portray the investment as legitimate. This is often the perfect way to keep the later investors faithful.
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.
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.