2025 Insurance, Identity Theft, Scams, Consumer Protection

Deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right?

• Extended Warranty

• Fraud

• Unit Pricing

• Mediation

What is ponzi scheme?

• Extortion is a crime in which one person forces another person to do something against his will, generally to give up money or other property, by threat of violence

• The selling of false things/tickets/items in order to gain free money

• a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors

• Promoting false advertisement and propaganda in order to bait people into buying the product

A type of scam in which personal information is requested, typically through an illegitimate email

• Phishing Scam

• Price Matching

• Privacy Zuckering

• Pyramid Scheme

A type of scam in which investors artificially inflate the price of an asset and then sell out before the price falls

• Privacy Zuckering

• Pump and Dump Scam

• Price Matching

• Reciprocity Bias

Which of the following is the best definition of a co-insurance payment?

• The amount you must pay every month to purchase health insurance.
• The added cost you pay to receive better quality services
• The percentage of covered medical expenses you are responsible for paying, after your deductible is met
• The maximum amount of coverage your insurer will pay each year

What is the term for the monthly payment you make to your insurance company, even if you do not use any services?

• Deductible

• Premium

• Coverage Amount

• Copay

Answer explanation

Remember: Your premium does NOT count as an out-of-pocket expense that goes toward your annual maximum.

Your premium is simply your monthly fee for having insurance.

You'll pay this fee even if you NEVER once make a claim.

Which of these is the BEST step to take after realizing your financial information may have been exposed while out shopping?

• Dial 911 and report an emergency with the police department
• Cancel all your credit cards and close your bank accounts
• Call all the stores you visited to ask if they saw anyone or anything suspicious
• Put a freeze on your credit and file an identity theft report with the FTC

Answer explanation

Freezing your credit blocks and prevents anyone from opening new credit accounts in your name. You can still use all your credit cards and make normal purchases. It has no impact on your credit report or your good credit score.

You just can't open new credit until you un-freeze it... Which is quick, easy and free.

Vanessa is purchasing auto insurance, She wants to make sure she's covered in case she damages someone else's property Which type of auto insurance should she get?

• Uninsured motorist
• Collision
• Comprehensive
• Liability

Answer explanation

Liability insurance covers the damage you do to another person or their property. Liability covers the damage YOU are responsible for causing.

Liability auto insurance is required by law in almost every state.

What is the relationship between insurance premiums and deductibles?

• Higher deductible plans charge higher monthly premiums
• Lower deductible plans charge lower monthly premiums
• Higher deductible plans charge lower monthly premiums
• There is no relationship between premiums and deductibles

Why would someone want to have renters insurance if their building owner has insurance?

• The building owner's insurance only covers liability. Renters insurance will cover damage to the exterior and structure of the building.
• The building owner's insurance only covers the building structure. Renters insurance covers your personal property and your liability if you cause damage or someone gets hurt in your home.

• There is no need to get renters insurance if the building owner already has an insurance policy
• By law, you must have two types of insurance: landlord insurance and renters insurance