What is a pyramid scheme?

A scam in which payts from low-level, recruited emps are pushed to hi-level

Which type of identity theft is MOST prevalent for people age 19 and under?

Employment or tax-related fraud

Which of these students is doing a POOR job of protecting themselves against identity theft?

David: “I use the same login creds for all my accts to stay organized

Influencers can have a direct impact on consumers’ financial habits because they typically…

Rate and review products that their followers are likely to purchase

Sean received a notice that his info was compromised and he is a victim of identity theft. Sean should not do which one?

Wait for 90 days before contacting the FTC to see if they catch the fraud

Niko used his CC to buy a coat he found online.He hasn't received an email, and thinks he was scammed.What should he do?

Report the fraud charge to his bank and ask them to reverse the transaction

All of the following are ways to use social media more mindfully EXCEPT…

Check your social media accounts frequently throughout the day

Sofia receives a text message from her bank. All of the following indicate that the text may actually be a scam EXCEPT…

The text asks her to call the number that is on the back of her debit card

A person who can convince you to buy product/service by promoting it on SM

Which of the following is an example of the Roach Motel dark pattern?

A website signs you up for a sub when you create an acct & you can't cancel

What is a potential benefit of comparison shopping?

You are more likely to find a product that best fits your budget

Zach gets a notice from the IRS that he owes money. Which indicates that the notification is real and not a scam?

The IRS sends him a formal letter in the mail telling him of taxes he owes

When deciding to follow an influencer on social media, the most important thing teens value is…

How authentic the influencer appears

Which of the following is TRUE about scams?

There are red flags that can help you avoid being scammed

Which of these most accurately defines a dark pattern?

When features trick users into doing something that benefits the business

What is a Pump and Dump scam?

A fraudster will boost the price of stock based on false info then sell it

Which of the following is TRUE about recent trends in identity theft?

Many large orgs have experienced data breaches that leaked consumer info

How might freezing your credit help you protect your personal information?

Your credit info is blocked to prevent one from opening accts in your name

What does it mean if a fraudster accessed your personal information through phishing?

They tricked you into revealing personal info through email, texts, etc

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NGPF Consumer Skills - Sp 24

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Questions 25

Answers

1
What is a pyramid scheme?
A scam in which a company sells you products that you never receive
A scam in which a fraudster hacks into your SM, bank, & email accts
A scam in which a fraudster purchases in groups of 3 to minimize suspicion
A scam in which payts from low-level, recruited emps are pushed to hi-level
2
Which type of identity theft is MOST prevalent for people age 19 and under?
Employment or tax-related fraud
Phone or utilities fraud
Bank fraud
Loan or lease fraud
3
Which of these students is doing a POOR job of protecting themselves against identity theft?
Wynn: “I just requested copies of my annual credit report.”
David: “I use the same login creds for all my accts to stay organized
Bea: “I have a reminder to check my bank balance once a week for charges.
Sonia: “I use 2-factor authen. on my mobile device for all my logins.”
4
Josie sees an ad on SM featuring a dr who is promoting a drink. The dr cites her experience. Which 6 ways of influence?
Social Proof
Scarcity
Authority
Liking
5
Influencers can have a direct impact on consumers’ financial habits because they typically…
Work with followers to design products that consumers are likely to buy
Encourage consumers to save money instead of spending it
Rate and review products that their followers are likely to purchase
Promote reusing/recycling items their followers may already have at home
6
Sean received a notice that his info was compromised and he is a victim of identity theft. Sean should not do which one?
Wait for 90 days before contacting the FTC to see if they catch the fraud
Enable Two-Factor Authentication on his accounts for added security
Place an extended fraud alert or security freeze on his credit
File an identity theft report with the Federal Trade Commission
7
Each of the following is one of the six ways of influence EXCEPT…
Blackmail
Social Proof
Authority
Scarcity
8
Niko used his CC to buy a coat he found online.He hasn't received an email, and thinks he was scammed.What should he do?
Try to contact the vendor to see if they can reverse the transaction
Report the fraud charge to his bank and ask them to reverse the transaction
Wait for his bank to identify the fraud and reach out to him within 7 days
Wait to see if the transaction shows up on his next credit card statement
9
All of the following are ways to use social media more mindfully EXCEPT…
Unfollow accounts that encourage you to spend more money than you’d like
Make a budget and use it to track your spending from social media
Check your social media accounts frequently throughout the day
Delay the act of purchasing by adding it to a "wish list"
10
Sofia receives a text message from her bank. All of the following indicate that the text may actually be a scam EXCEPT…
The text asks her to call the number that is on the back of her debit card
The text message includes a link that starts with “http”
The text message has a few spelling errors in the body of the text
The text indicates that she will lose money if she doesn't respond in 1 hr
11
Which of the following does social media influence consumers to buy the MOST of?
Vacation experiences
Clothing or accessories
Electronics
Food or drinks
12
Tara has found a coat that she really likes. But, she is unfamiliar with the brand. Which factors might help her?
Whether or not the company accepts her credit card
Current sales and discounts that the company is offering
The brand’s return policy
Customer reviews
13
An influencer is…
Any type of media (ad) that convinces you to buy a product or service
A person who can convince you to buy product/service by promoting it on SM
Someone who agrees to follow you back if you follow them on social media
An ad agency that works with organizations to promote their products on SM
14
Which of the following is an example of the Roach Motel dark pattern?
A hotel site tells you the #of deals you missed by failing to book a room
An app uses green buttons to select NO but then changes it to select YES
An ad has a speck of dust to trick users to wipe screen & click the speck
A website signs you up for a sub when you create an acct & you can't cancel
15
What is a potential benefit of comparison shopping?
Stores provide a discount if they know you took time to find the best deal
You qualify for a reward program if you take the time to comp. shop often
You are more likely to find a product that best fits your budget
You are guaranteed to find a product
16
Zach gets a notice from the IRS that he owes money. Which indicates that the notification is real and not a scam?
The IRS calls him and demands he pay taxes he owes within 24 hours
The IRS threatens to send police if he doesn't send the money he owes ASAP
The IRS texts him from an unknown number
The IRS sends him a formal letter in the mail telling him of taxes he owes
17
Sean wants to buy a new backpack. Which of the following should he be LEAST concerned about when comparison shopping?
WHEN the backpack was made
The PRICE of the backpack
The QUALITY of the backpack
REVIEWS left by other consumers
18
When deciding to follow an influencer on social media, the most important thing teens value is…
Who sponsors the influencer
The number of followers the influencer has
How authentic the influencer appears
The types of products and services the influencer promotes
19
Which of the following is TRUE about scams?
Scams today most commonly occur through paper mail you receive
You are guaranteed to get your $$ back from a scam by local police
Young people aren't targeted for scams unless they have a bank account
There are red flags that can help you avoid being scammed
20
Which of these most accurately defines a dark pattern?
When features trick users into doing something that benefits the business
When a business takes advantage of customers based on a certain demo
When a salesperson continues to send you emails after you’ve left the store
When sellers keep you in the dark by withholding info about their product
21
What is a Pump and Dump scam?
A fraudster will boost the price of stock based on false info then sell it
Fraudster goes through your mail to get your info be "dumping" it in trash
The scam “pumps” all your $ from your bank and “dumps” it a fraud account
Fraudsters make purchases through your bank acct in a short amt of time
22
The two major signs of a scam are a request for personal information and ___________.
A coupon code offered for a current sale
An urgent need for money
A request to like and subscribe an account on social media
A free 30 day trial of a product or service
23
Which of the following is TRUE about recent trends in identity theft?
Most cases of identity theft result in a large dollar amount lost
The number of ID theft reports has decreased over the past decade
Many large orgs have experienced data breaches that leaked consumer info
Young people are never victims of identity theft
24
How might freezing your credit help you protect your personal information?
Your CR continues to include past credit info but does not include new info
Your credit info is blocked to prevent one from opening accts in your name
Your credit info is locked for 10 years but can be used by auto/mort lender
All of your credit cards are canceled and removed from your credit file
25
What does it mean if a fraudster accessed your personal information through phishing?
The fraudster obtained your information through the dark web
The fraud'r contacted your relatives and got your info by saying he was HR
The fraudster got your info by going through trash
They tricked you into revealing personal info through email, texts, etc

NGPF Consumer Skills - Sp 24 Flashcards | StudBud