protection against losses or damages

Your health insurance copay is

A fee you pay each time you visit the doctor

When would you need disability insurance?

When you become disabled and are unable to earn an income.

Which of the following is a common sign of identity theft? Opening a new bank account, Changing your phone number, Getting a new credit card, Receiving bills for services you did not use

Receiving bills for services you did not use

What should you do if you suspect your identity has been stolen?

Immediately notify your bank and credit card companies

Which of the following is a common sign of a phishing attempt? - Receiving an email from a known contact with a familiar subject line - Receiving an email with a generic greeting and urgent request for personal information - Receiving a phone call from a family member - Receiving a text message from your bank confirming a transaction

Receiving an email with a generic greeting and urgent request for personal information

What should you do if you suspect an email is a phishing attempt?

Delete the email and report it to your IT department or email provider.

What is the primary purpose of the Truth in Lending Act?

To ensure consumers are informed about the cost of credit

Which of the following disclosures is required by the Truth in Lending Act? The lender's profit margin, The borrower's employment history, The annual percentage rate (APR), The borrower's credit score

The annual percentage rate (APR)

What is the primary purpose of the Dodd-Frank Act?

To increase consumer protection and financial stability

What is the primary purpose of the Fair Debt Collection Practices Act (FDCPA)?

To protect consumers from abusive debt collection practices

Which of the following actions is prohibited under the Fair Debt Collection Practices Act? - Sending a written notice of debt - Contacting a debtor's employer for location information - Calling a debtor before 8 a.m. or after 9 p.m. - Reporting a debt to a credit bureau

Calling a debtor before 8 a.m. or after 9 p.m.

What is a Ponzi scheme?

A fraudulent investment scam promising high returns with little risk.

What is a common method to protect yourself from identity theft? Options: Sharing your passwords with friends, Using strong, unique passwords for each account, Writing your PIN on your credit card, Posting personal information on social media

Using strong, unique passwords for each account

Which of the following actions can help prevent identity theft? Options: Using the same password for all accounts, Ignoring suspicious emails, Regularly checking your credit report, Leaving your wallet unattended

Regularly checking your credit report

Insurance & Identity Theft Flashcards

Student preview

26 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is the basic definition of insurance?

Back

A contract that pays someone for lost or damaged property, injury or death

2.

FLASHCARD QUESTION

Front

What is the possibility of loss or injury to an individual called?

Back

Risk

3.

FLASHCARD QUESTION

Front

After a claim, what is the cost a client must incur before insurance will pay?

Back

Deductible

4.

FLASHCARD QUESTION

Front

What type of insurance covers a person for a specified amount of time?

Back

Term

5.

FLASHCARD QUESTION

Front

Which type of auto insurance covers damage to a car when collision is not involved?

Back

Comprehensive

6.

FLASHCARD QUESTION

Front

Liability Insurance for your car is optional

Back

False

7.

FLASHCARD QUESTION

Front

The purpose of Disability Insurance is: Health Cost Reimbursement, Income Replacement, Investment for Retirement, All Answers are correct

Back

Income Replacement

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