LAST REVIEW FLASHCARD

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What is identity theft?

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Identity theft is a crime where someone wrongfully obtains and uses another person's personal information.

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How can someone avoid falling victim to a scam?

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Be cautious of suspicious emails, links, and attachments; verify website legitimacy; use strong passwords.

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What are some red flags to look out for when shopping online?

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suspiciously low prices, unsecured payment methods, lack of customer reviews or ratings, unfamiliar or untrustworthy websites, and poor customer service

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Imagine William, Scarlett, and Maya are planning to do some online shopping for the upcoming school event. What advice would you give them to protect themselves from online shopping fraud?

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Use secure and reputable websites, verify the seller's reputation, avoid sharing personal information, use strong and unique passwords, regularly monitor bank statements, and be cautious of suspicious emails or links.

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What are some common types of social media scams? Options: cat phishing scams, fake giveaways, romance scams, and identity theft scams, investment scams, email scams, lottery scams

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cat phishing scams, fake giveaways, romance scams, and identity theft scams

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What are some preventive measures to avoid credit fraud and scams? Options: Regularly monitor credit reports, be cautious of phishing scams, use strong passwords, avoid sharing personal information, be careful with credit card and ATM transactions, keep devices and software updated

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Regularly monitor credit reports, be cautious of phishing scams, use strong passwords, avoid sharing personal information, be careful with credit card and ATM transactions, keep devices and software updated

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What is the safest set of practices for using credit cards online? Options: Use secure websites, connect to public Wi-Fi, ignore statements, use weak passwords, trust all emails, never consider virtual credit cards, Use secure websites, avoid public Wi-Fi, monitor statements, use strong passwords, be cautious of phishing emails, consider virtual credit cards, Use secure websites, avoid public Wi-Fi, ignore statements, use weak passwords, trust all emails, never consider virtual credit cards, Use unsecured websites, connect to public Wi-Fi, ignore statements, use weak passwords, trust all emails, never consider virtual credit cards

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Use secure websites, avoid public Wi-Fi, monitor statements, use strong passwords, be cautious of phishing emails, consider virtual credit cards

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Which of the following is an example of a secondary market? Initial Public Offering (IPO), Stock exchange, Venture capital investment, Commercial bank deposit

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Stock exchange

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What is a financial asset?

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A claim on the property and income of the borrower

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What is the role of savings in the financial system?

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To provide funds for borrowers