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Personal Finance Courses: Consumer Protection against Fraud

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1.
Telephone scammers demand immediate compliance from their victims because _______.
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Both of the above. Scammers don't want their actions to be exposed.
2.
The information most valuable to an identity thief is _______.
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Your Social Security number. Your mother's maiden name is the second most valuable piece of information to an identity thief.
3.
Posting your birth date online is harmless.
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False. Thieves can sometimes use birth dates in conjunction with names to commit fraud against you.
4.
The only known danger of medical identity theft is having large medical bills charged to you.
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False. There are other dangers; for example, a thief could put false information on your medical record, which could be life-threatening.
5.
What is an identity theft affidavit?
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It is a form provided by the Federal Trade Commission that creditors may accept when you claim you are not responsible for new transactions. The information you provide will help creditors investigate your claim.
6.
If you are unsure whether a broker is licensed, you should contact _______.
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Your state securities regulator. Brokers are registered at the state level.
7.
Which law gives a consumer the right to have a credit report item dispute resolved within 30 days?
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Fair Credit Reporting Act. The FCRA gives consumers the right to have disputed information investigated and reported back to them within 30 days.