Question 1

According to the Federal Trade Commission,what is the largest type of consumer fraud?

Accepted Answer

A) Identity theft 
B) Ponzi scheme 
C) Magazine fraud 
D) Telephone fraud 
A) Identity theft 
B) Ponzi scheme 
C) Magazine fraud 
D) Telephone fraud A

Question 2

What is dumpster diving?

Accepted Answer

A) An activity where fraudsters use an information storage device to gain access to valuable information. 
B) An activity where perpetrator will try to build a relationship of confidence with the victim. 
C) An activity where criminals watch consumers from a nearby location as they give credit card or other valuable information. 
D) An activity where fraudsters rummage through consumers' trash. 
A) An activity where fraudsters use an information storage device to gain access to valuable information. 
B) An activity where perpetrator will try to build a relationship of confidence with the victim. 
C) An activity where criminals watch consumers from a nearby location as they give credit card or other valuable information. 
D) An activity where fraudsters rummage through consumers' trash. D

Question 3

_____ is a scam where perpetrators promise high pay for working on different projects like wooden calendars,paper towel holders,hair clips,or holiday decorations.

Accepted Answer

A) Product testing 
B) Mail stuffing 
C) Craft assembly 
D) Skimming 
A) Product testing 
B) Mail stuffing 
C) Craft assembly 
D) Skimming C

Question 4

Which of these is a second dimensional action in the trial stage of the identity theft?

Accepted Answer

A) Larger thefts,often involving personal interaction,without much chance of getting caught. 
B) Smallest thefts that lay down a solid foundation for the perpetrator to commit identity theft. 
C) Largest thefts committed after perpetrators have confidence that their schemes are working. 
D) Small thefts to test the stolen information. 
A) Larger thefts,often involving personal interaction,without much chance of getting caught. 
B) Smallest thefts that lay down a solid foundation for the perpetrator to commit identity theft. 
C) Largest thefts committed after perpetrators have confidence that their schemes are working. 
D) Small thefts to test the stolen information.

Question 5

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 6

Which act limits consumers' liability for fraudulent credit card charges?

Accepted Answer

A) Identity Theft and Assumption Deterrence Act 
B) Fair Credit Billing Act 
C) Family Education Rights and Privacy Act 
D) Fair Credit Reporting Act 
A) Identity Theft and Assumption Deterrence Act 
B) Fair Credit Billing Act 
C) Family Education Rights and Privacy Act 
D) Fair Credit Reporting Act

Question 7

All of the following are types of foreign advance schemes,EXCEPT:

Accepted Answer

A) Disbursement of money from wills. 
B) Multi-level marketing scams. 
C) Sale of crude oil below market price. 
D) Purchase of real estate scam. 
A) Disbursement of money from wills. 
B) Multi-level marketing scams. 
C) Sale of crude oil below market price. 
D) Purchase of real estate scam.

Question 8

Product testing is a fraud:

Accepted Answer

A) that request the consumers to review the products presented in the brochures and send their commentaries to the supplier for review. 
B) where consumers respond to an advertisement that promises income simply for stuffing envelopes. 
C) that promise victims a job that involves strolling through stores,enjoying the displays,shopping for merchandise,and then filing reports on the experiences they have had. 
D) where perpetrators promise high pay for working on different projects. 
A) that request the consumers to review the products presented in the brochures and send their commentaries to the supplier for review. 
B) where consumers respond to an advertisement that promises income simply for stuffing envelopes. 
C) that promise victims a job that involves strolling through stores,enjoying the displays,shopping for merchandise,and then filing reports on the experiences they have had. 
D) where perpetrators promise high pay for working on different projects.

Question 9

TransUnion,Equifax,and Experian are examples of _______.

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

Question 10

_____ is a scam where consumers respond to an advertisement that promises income simply for filling envelopes.

Accepted Answer

A) Craft assembly 
B) Bogus mystery shopping 
C) Mail stuffing 
D) Skimming 
A) Craft assembly 
B) Bogus mystery shopping 
C) Mail stuffing 
D) Skimming

Question 11

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 12

Accumulating documentation belongs to which stage of the identity theft cycle?

Accepted Answer

A) The action stage 
B) The discovery stage 
C) The trial stage 
D) The concealment stage 
A) The action stage 
B) The discovery stage 
C) The trial stage 
D) The concealment stage

Question 13

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 _____.

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.

Question 14

A clearinghouse scam:

Accepted Answer

A) involves a victim receiving a letter that claims he or she has inherited a significant amount of money. 
B) involves a victim receiving a mail from a known party who claims to have access to large sums of money or assets. 
C) involves a victim receiving a letter that falsely claims the writer represents a foreign bank. 
D) involves a victim receiving an email containing the Social Security number and/or credit information. 
A) involves a victim receiving a letter that claims he or she has inherited a significant amount of money. 
B) involves a victim receiving a mail from a known party who claims to have access to large sums of money or assets. 
C) involves a victim receiving a letter that falsely claims the writer represents a foreign bank. 
D) involves a victim receiving an email containing the Social Security number and/or credit information.

Question 15

All of the following are ways to minimize your risk of identity theft,EXCEPT:

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 16

First dimensional actions in the trial stage of the identity theft are:

Accepted Answer

A) efforts to gain victim's personal information. 
B) larger thefts,often involving personal interaction,without much chance of getting caught. 
C) largest thefts committed after perpetrators have confidence that their schemes are working. 
D) small thefts to test the stolen information. 
A) efforts to gain victim's personal information. 
B) larger thefts,often involving personal interaction,without much chance of getting caught. 
C) largest thefts committed after perpetrators have confidence that their schemes are working. 
D) small thefts to test the stolen information.

Question 17

What is the most important way to fight identity theft?

Accepted Answer

A) By shredding mail that contains detailed information. 
B) By taking extra care of the personal valuable information. 
C) By using strong passwords and changing them often. 
D) By preventing it from happening in the first place. 
A) By shredding mail that contains detailed information. 
B) By taking extra care of the personal valuable information. 
C) By using strong passwords and changing them often. 
D) By preventing it from happening in the first place.

Question 18

Which of the following is false regarding a Nigerian money offer scam?

Accepted Answer

A) States the need for urgent assistance. 
B) Makes the victim feel like he or she is the only recipient of the special opportunity. 
C) Involves someone trying to sell a piece of prime African real estate. 
D) The e-mail is the promise of money and asks for help. 
A) States the need for urgent assistance. 
B) Makes the victim feel like he or she is the only recipient of the special opportunity. 
C) Involves someone trying to sell a piece of prime African real estate. 
D) The e-mail is the promise of money and asks for help.

Question 19

Consumer fraud is described as any fraud that:

Accepted Answer

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

Question 20

Fraudsters use "cookie" type software to:

Accepted Answer

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

According to the Federal Trade Commission,what is the largest type of consumer fraud?

What is dumpster diving?

_____ is a scam where perpetrators promise high pay for working on different projects like wooden calendars,paper towel holders,hair clips,or holiday decorations.

Which of these is a second dimensional action in the trial stage of the identity theft?

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 act limits consumers' liability for fraudulent credit card charges?

All of the following are types of foreign advance schemes,EXCEPT:

Product testing is a fraud:

TransUnion,Equifax,and Experian are examples of _______.

_____ is a scam where consumers respond to an advertisement that promises income simply for filling envelopes.

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

Accumulating documentation belongs to which stage of the identity theft cycle?

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 _____.

A clearinghouse scam:

All of the following are ways to minimize your risk of identity theft,EXCEPT:

First dimensional actions in the trial stage of the identity theft are:

What is the most important way to fight identity theft?

Which of the following is false regarding a Nigerian money offer scam?

Consumer fraud is described as any fraud that:

Fraudsters use "cookie" type software to:

The Nature of Fraud

Why People Commit Fraud

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

Fraud in E-Commerce

Legal Follow-Up

Filters

Exam 15: Consumer Fraud

According to the Federal Trade Commission,what is the largest type of consumer fraud?

What is dumpster diving?

_____ is a scam where perpetrators promise high pay for working on different projects like wooden calendars,paper towel holders,hair clips,or holiday decorations.

Which of these is a second dimensional action in the trial stage of the identity theft?

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 act limits consumers' liability for fraudulent credit card charges?

All of the following are types of foreign advance schemes,EXCEPT:

Product testing is a fraud:

TransUnion,Equifax,and Experian are examples of _______.

_____ is a scam where consumers respond to an advertisement that promises income simply for filling envelopes.

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

Accumulating documentation belongs to which stage of the identity theft cycle?

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 _____.

A clearinghouse scam:

All of the following are ways to minimize your risk of identity theft,EXCEPT:

First dimensional actions in the trial stage of the identity theft are:

What is the most important way to fight identity theft?

Which of the following is false regarding a Nigerian money offer scam?

Consumer fraud is described as any fraud that:

Fraudsters use "cookie" type software to:

The Nature of Fraud

Why People Commit Fraud

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

Fraud in E-Commerce

Legal Follow-Up

Filters