Fraud and Identity Theft: Standard 9 Test

Which of the following steps would help reduce your potential of being a victim of consumer fraud?

Delete all e-mails asking for personal information without responding to them.

You are invited to invest in a birthday club. Once a month, the club meets to celebrate those with birthdays that month. You are required to pay $1,000 to join the club, and you are promised to receive $500 for every person you get to join the club. What should you do?

Do not join. This is a Ponzi Scheme, and you will probably lose all of your money.

Which of the following is NOT a good way to protect yourself from being a fraud victim?

Enter your personal information on a web site so you can get more information before deciding on an investment.

______________________is a legal term used when someone knowingly deceives you for their own

Fraud

The MOST secure password for Internet or other uses should include

a combination of numbers and letters.

Bargain City advertises a special price on a certain type of rollerblades. They really do not have those rollerblades in the store. Instead, they have a much more expensive brand to sell you at double the advertised price. This practice is called

bait and switch.

If you become the victim of fraud or identity theft, you should

call the police immediately and report what happened.

People who attempt to swindle or trick you into illegal schemes are commonly called

con artist.

Recent changes in legislation now allow you to get a copy of your credit report

free of charge once a year to check its accuracy.

"Dumpster Diving" refers to the practice of

going through someone's trash looking for personal information on it.

Using a person's name or personal information without permission to make purchases or get loans is called

identity theft.

Setting up a false company only to ask people to buy stock in it is called

long firm fraud.

One of the BEST ways to protect yourself from identity theft is

shredding all papers with personal information.

If someone comes to your door offering you a great opportunity to invest in a new company, you should

tell them you are not interested and ask them to leave.

If you think you are a victim of fraud, you should contact

the Fraud Division of the three credit bureaus to request a fraud alert on your files.