Basics Beginner:
Consumer Protection against Fraud
Test your knowledge
Choose wisely. There is only one correct answer to each question.
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Review your answers below to learn more.
1.
The Better Business Bureau can help you research an investment opportunity that someone is trying to sell you.
Choose wisely. There is only one correct answer.
True
False
True. The Better Business Bureau is a resource that can help you find out whether a business opportunity is legitimate.
2.
The information most valuable to an identity thief is _______.
Choose wisely. There is only one correct answer.
Your mother's maiden name
Your previous employers
Your Social Security number
Your Social Security number. Your mother's maiden name is the second most valuable piece of information to an identity thief.
3.
When your credit record is harmed by identity theft, you will learn about it right away.
Choose wisely. There is only one correct answer.
True
False
False. Though in some cases you might, in many others you won't until you try to take out a loan, which can be years down the road.
4.
It is safe to use automatic log-in processes on your computer, because the sites that save your account information and passwords are secure.
Choose wisely. There is only one correct answer.
True
False
False. Another person can get onto your computer and take advantage of it. Also, not all sites are secure.
5.
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.
6.
Which of the following will stop payment on your check in the event of identity theft?
Choose wisely. There is only one correct answer.
Your financial institution
Check verification services
Both of the above
Both of the above. Both will stop payment on your check in the event of identity theft.
7.
When a criminal is required by law to pay back what he or she defrauded you of, that is called _______.
Choose wisely. There is only one correct answer.
Restitution
Adverse information
Truth in lending
Restitution. Making restitution is required with regard to numerous federal crimes.
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DONE