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.
Telephone swindlers demand immediate compliance from their victims because _______.
Both of the above. Swindlers don't want their scams to be exposed.
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.
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.
5.
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.
6.
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.
7.
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.
8.
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.