Question 1

Which of the following observations is NOT true of foreign-advance fee scams?

Accepted Answer

A) Perpetrators are well-known businesses and there is usually some urgency to participate. 
B) Perpetrators claim to trust the victim with their money or assets. 
C) Perpetrators are always willing to transfer money or other assets to the victims, but only after money or information is extracted. 
D) Perpetrators claim to have access to large sums of money or assets. 
A) Perpetrators are well-known businesses and there is usually some urgency to participate. 
B) Perpetrators claim to trust the victim with their money or assets. 
C) Perpetrators are always willing to transfer money or other assets to the victims, but only after money or information is extracted. 
D) Perpetrators claim to have access to large sums of money or assets. A

Question 2

TransUnion,Equifax,and Experian are examples of what type of agencies?

Accepted Answer

A) identity theft investigation agencies 
B) credit reporting agencies 
C) money transfer agencies 
D) credit billing agencies 
A) identity theft investigation agencies 
B) credit reporting agencies 
C) money transfer agencies 
D) credit billing agencies B

Question 3

Once a fraudster has gained confidence that the identity theft is working,he or she often takes out a loan using the victim's identity.The most common type of fraudulent loan is for which of the following items?

Accepted Answer

A) foreign travel. 
B) purchasing real estate. 
C) education. 
D) an automobile. 
A) foreign travel. 
B) purchasing real estate. 
C) education. 
D) an automobile. D

Question 4

Which of the following is NOT a symptom of potential investment scams?

Accepted Answer

A) pressures to get in early on the investment. 
B) a business with a history of bankruptcy or scandals. 
C) use of a special tax loophole or a tax avoidance scheme. 
D) promise of returns comparable to those of treasury bonds. 
A) pressures to get in early on the investment. 
B) a business with a history of bankruptcy or scandals. 
C) use of a special tax loophole or a tax avoidance scheme. 
D) promise of returns comparable to those of treasury bonds.

Question 5

What makes telemarketing fraud more effective than Internet or mail-based approaches?

Accepted Answer

A) Reduced transaction costs. 
B) Opportunity to speak with a person directly. 
C) Increased size of the fraud. 
D) Absence of government regulations. 
A) Reduced transaction costs. 
B) Opportunity to speak with a person directly. 
C) Increased size of the fraud. 
D) Absence of government regulations.

Question 6

​According to the text,which of the following is the best defense against becoming a victim of consumer fraud?

Accepted Answer

A) Avoid internet offers. 
B) ​Register on the do-not call list. 
C) ​Check companies named in all print ads through the Better Business Bureau. 
D) ​Education. 
A) Avoid internet offers. 
B) ​Register on the do-not call list. 
C) ​Check companies named in all print ads through the Better Business Bureau. 
D) ​Education.

Question 7

What is one of the biggest marketing campaigns of illegal MLMs?

Accepted Answer

A) Promise of full-time work from home for huge weekly earnings. 
B) Absence of headhunter fees. 
C) A mysterious "benefactor" interested in contributing a large sum of money. 
D) Promise that investors will always make money from future downline growth. 
A) Promise of full-time work from home for huge weekly earnings. 
B) Absence of headhunter fees. 
C) A mysterious "benefactor" interested in contributing a large sum of money. 
D) Promise that investors will always make money from future downline growth.

Question 8

Which of the following is a true statement regarding The Gramm-Leach-Bliley Act?

Accepted Answer

A) The act gives financial institutions the right to share personal information for a profit. 
B) The act expressly requires financial institutions to protect against identity theft. 
C) The act allows financial institutions to share personal information, as long as it is not for a profit. 
D) The act protects confidentiality of customer information. 
A) The act gives financial institutions the right to share personal information for a profit. 
B) The act expressly requires financial institutions to protect against identity theft. 
C) The act allows financial institutions to share personal information, as long as it is not for a profit. 
D) The act protects confidentiality of customer information.

Question 9

Which of the following is a variation of fraudulent MLMs,in which an organization sells illusionary products and profits,instead of real products?

Accepted Answer

A) ponzi scheme 
B) foreign advance scheme 
C) identity theft scheme 
D) shoulder surfing scheme 
A) ponzi scheme 
B) foreign advance scheme 
C) identity theft scheme 
D) shoulder surfing scheme

Question 10

Which of the following is a hi-tech method by which thieves capture personal or account information from a credit card,driver's license,or even a passport?

Accepted Answer

A) Surfing 
B) Skimming 
C) Clawbacks 
D) Phishing 
A) Surfing 
B) Skimming 
C) Clawbacks 
D) Phishing

Question 11

How do fraudsters use "cookie" type software?

Accepted Answer

A) to automatically remove web histories after one closes the web browser. 
B) to initiate pop-ups to unknown sites to gather valuable consumer information. 
C) to show the status of a Web site to be secure. 
D) to gather personal and confidential information from consumers' hard drives. 
A) to automatically remove web histories after one closes the web browser. 
B) to initiate pop-ups to unknown sites to gather valuable consumer information. 
C) to show the status of a Web site to be secure. 
D) to gather personal and confidential information from consumers' hard drives.

Question 12

A Nigerian money offer email is a form of which of the following scams?

Accepted Answer

A) foreign advance-fee scam. 
B) purchase of real estate scam. 
C) clearing house scam. 
D) multilevel marketing scam. 
A) foreign advance-fee scam. 
B) purchase of real estate scam. 
C) clearing house scam. 
D) multilevel marketing scam.

Question 13

Which act gives individuals the right to opt-out of having their information sold?

Accepted Answer

A) Identity Theft and Assumption Deterrence Act 
B) Family Education Rights and Privacy Act 
C) The Gramm-Leach-Bliley Act 
D) Fair Credit Reporting Act 
A) Identity Theft and Assumption Deterrence Act 
B) Family Education Rights and Privacy Act 
C) The Gramm-Leach-Bliley Act 
D) Fair Credit Reporting Act

Question 14

​Which of the following was the top consumer fraud in number of victims identified in the U S Federal Trade Commission report?

Accepted Answer

A) ​foreign lottery scams 
B) ​advance fee loan scams 
C) ​fraudulent weight-loss products 
D) ​credit card insurance 
A) ​foreign lottery scams 
B) ​advance fee loan scams 
C) ​fraudulent weight-loss products 
D) ​credit card insurance

Question 15

Which of the following statements defines shoulder surfing?

Accepted Answer

A) Criminals physically confront consumers forcing them to reveal their valuable information. 
B) Criminals follow consumers to discover their buying habits. 
C) Criminals sneak into victims' homes and steal their information. 
D) Criminals watch consumers from a nearby location as they give credit card information over the phone 
A) Criminals physically confront consumers forcing them to reveal their valuable information. 
B) Criminals follow consumers to discover their buying habits. 
C) Criminals sneak into victims' homes and steal their information. 
D) Criminals watch consumers from a nearby location as they give credit card information over the phone

Question 16

A fraudster changes the physical address or e-mail of the victim so that credit card statements are sent by the financial institution to the perpetrator rather than the victim.Which stage of the identity theft cycle is being discussed here?

Accepted Answer

A) Verification stage 
B) Trial stage 
C) Discovery stage 
D) Action stage 
A) Verification stage 
B) Trial stage 
C) Discovery stage 
D) Action stage

Question 17

Which is the primary agency responsible for helping victims of identity theft?

Accepted Answer

A) Social Security Office 
B) Federal Bureau of Investigation 
C) Permits Department 
D) Federal Trade Commission 
A) Social Security Office 
B) Federal Bureau of Investigation 
C) Permits Department 
D) Federal Trade Commission

Question 18

What percent of the population was estimated to have been victims of fraud in 2005?​

Accepted Answer

A) ​8.5 % 
B) ​13.5 % 
C) ​22.5 % 
D) ​41.5 % 
A) ​8.5 % 
B) ​13.5 % 
C) ​22.5 % 
D) ​41.5 %

Question 19

Which of the following is NOT an action to minimize your risk of identity theft?

Accepted Answer

A) opting out of pre-approved credit cards. 
B) shredding mail that contains detailed information. 
C) using strong passwords and changing them often. 
D) using Social Security number on visiting cards. 
A) opting out of pre-approved credit cards. 
B) shredding mail that contains detailed information. 
C) using strong passwords and changing them often. 
D) using Social Security number on visiting cards.

Question 20

Which of the following statements correctly describes consumer fraud?

Accepted Answer

A) Any fraud that is committed by a consumer. 
B) Any fraud that targets individuals as victims. 
C) Any fraud that is committed against an organization. 
D) Any fraud that is instigated from a separate country. 
A) Any fraud that is committed by a consumer. 
B) Any fraud that targets individuals as victims. 
C) Any fraud that is committed against an organization. 
D) Any fraud that is instigated from a separate country.

Which of the following observations is NOT true of foreign-advance fee scams?

TransUnion,Equifax,and Experian are examples of what type of agencies?

Once a fraudster has gained confidence that the identity theft is working,he or she often takes out a loan using the victim's identity.The most common type of fraudulent loan is for which of the following items?

Which of the following is NOT a symptom of potential investment scams?

What makes telemarketing fraud more effective than Internet or mail-based approaches?

According to the text,which of the following is the best defense against becoming a victim of consumer fraud?

What is one of the biggest marketing campaigns of illegal MLMs?

Which of the following is a true statement regarding The Gramm-Leach-Bliley Act?

Which of the following is a variation of fraudulent MLMs,in which an organization sells illusionary products and profits,instead of real products?

Which of the following is a hi-tech method by which thieves capture personal or account information from a credit card,driver's license,or even a passport?

How do fraudsters use "cookie" type software?

A Nigerian money offer email is a form of which of the following scams?

Which act gives individuals the right to opt-out of having their information sold?

Which of the following was the top consumer fraud in number of victims identified in the U S Federal Trade Commission report?

Which of the following statements defines shoulder surfing?

A fraudster changes the physical address or e-mail of the victim so that credit card statements are sent by the financial institution to the perpetrator rather than the victim.Which stage of the identity theft cycle is being discussed here?

Which is the primary agency responsible for helping victims of identity theft?

What percent of the population was estimated to have been victims of fraud in 2005?

Which of the following is NOT an action to minimize your risk of identity theft?

Which of the following statements correctly describes consumer fraud?

The Nature of Fraud

Who Commits Fraud and Why

Fighting Fraud: an Overview

Preventing Fraud

Recognizing the Symptoms of Fraud

Data-Driven Fraud Detection

Investigating Theft Acts

Investigating Concealment

Conversion Investigation Methods

Inquiry Methods and Fraud Reports

Financial Statement Fraud

Revenue- and Inventory-Related Financial Statement Frauds

Liability, asset, and Inadequate Disclosure Frauds

Fraud Against Organizations

Bankruptcy, divorce, and Tax Fraud

E-Commerce Fraud

Legal Follow-Up

Filters

Exam 15: Consumer Fraud

Which of the following observations is NOT true of foreign-advance fee scams?

TransUnion,Equifax,and Experian are examples of what type of agencies?

Once a fraudster has gained confidence that the identity theft is working,he or she often takes out a loan using the victim's identity.The most common type of fraudulent loan is for which of the following items?

Which of the following is NOT a symptom of potential investment scams?

What makes telemarketing fraud more effective than Internet or mail-based approaches?

​According to the text,which of the following is the best defense against becoming a victim of consumer fraud?

What is one of the biggest marketing campaigns of illegal MLMs?

Which of the following is a true statement regarding The Gramm-Leach-Bliley Act?

Which of the following is a variation of fraudulent MLMs,in which an organization sells illusionary products and profits,instead of real products?

Which of the following is a hi-tech method by which thieves capture personal or account information from a credit card,driver's license,or even a passport?

How do fraudsters use "cookie" type software?

A Nigerian money offer email is a form of which of the following scams?

Which act gives individuals the right to opt-out of having their information sold?

​Which of the following was the top consumer fraud in number of victims identified in the U S Federal Trade Commission report?

Which of the following statements defines shoulder surfing?

A fraudster changes the physical address or e-mail of the victim so that credit card statements are sent by the financial institution to the perpetrator rather than the victim.Which stage of the identity theft cycle is being discussed here?

Which is the primary agency responsible for helping victims of identity theft?

What percent of the population was estimated to have been victims of fraud in 2005?​

Which of the following is NOT an action to minimize your risk of identity theft?

Which of the following statements correctly describes consumer fraud?

The Nature of Fraud

Who Commits Fraud and Why

Fighting Fraud: an Overview

Preventing Fraud

Recognizing the Symptoms of Fraud

Data-Driven Fraud Detection

Investigating Theft Acts

Investigating Concealment

Conversion Investigation Methods

Inquiry Methods and Fraud Reports

Financial Statement Fraud

Revenue- and Inventory-Related Financial Statement Frauds

Liability, asset, and Inadequate Disclosure Frauds

Fraud Against Organizations

Bankruptcy, divorce, and Tax Fraud

E-Commerce Fraud

Legal Follow-Up

Filters

According to the text,which of the following is the best defense against becoming a victim of consumer fraud?

Which of the following was the top consumer fraud in number of victims identified in the U S Federal Trade Commission report?

What percent of the population was estimated to have been victims of fraud in 2005?