Choose wisely. There is only one correct answer to each question.
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1.
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.
2.
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.
3.
Why might a scammer go to great lengths to detail the intricate aspects of an "opportunity"?
Detail makes the opportunity look legitimate. The more detail, the more real it seems.
4.
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.
5.
Which of the following descriptions of an investment is a telephone scammer most likely to use?
"Risk-free". Scammers often describe their investments as risk-free.
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.
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.
8.
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.