Consumer Economics Consumer Skills Review

What is a Pump and Dump scam?

• A scam in which a fraudster will boost the price of a stock based on false or misleading information and then sell the stock
• You are more likely to find a product that best fits within your budget
• Clothing or accessories
• A website automatically signs you up for a paid subscription when you create an account but there is no easy way to cancel it

Influencers can have a direct impact on consumers' financial habits because they typically...

• Rate and review products that their followers are likely to purchase
• Following influencers who promote products or services
• Wait for 90 days before contacting the Federal Trade Commission to see if they catch the fraudulent behavior
• A type of scam in which payments from lower-level, recruited employees are pushed to higher-level employees

Sean wants to buy a new backpack for school. Which of the following factors should he be LEAST concerned about when comparison shopping?

• A person who has the ability to convince someone to buy a product or service by promoting it on social media
• He may continue to receive unwanted emails and other marketing messages until he is able to cancel
• Check her free credit report at least once each year to check for any mistakes, fraudulent accounts, etc. so that she can catch errors early on
• WHEN the backpack was made

Each of the following is one of the six ways of influence EXCEPT...

• Blackmail
• The IRS sends him a formal letter in the mail notifying him of taxes he owes
• Comparison shopping provides benefits such as:
• A person who has the ability to convince someone to buy a product or service by promoting it on social media

Which of the following is TRUE about recent trends in identity theft?

• Multiple large organizations have experienced data breaches that have leaked consumer information
• When design features trick users into doing something that benefits the business
• Customer reviews
• A scam in which a fraudster will boost the price of a stock based on false or misleading information and then sell the stock

When deciding to follow an influencer on social media, the most important thing teens value is...

• Wait for 90 days before contacting the Federal Trade Commission to see if they catch the fraudulent behavior
• A scam in which a fraudster will boost the price of a stock based on false or misleading information and then sell the stock
• How authentic the influencer appears
• He may continue to receive unwanted emails and other marketing messages until he is able to cancel

Zach receives a notification from the IRS that he owes money. Which of the following indicates that the notification is real and not a scam?

• Social media ads and marketing that encourage you to spend money
• The IRS sends him a formal letter in the mail notifying him of taxes he owes
• A person who has the ability to convince someone to buy a product or service by promoting it on social media
• He will continue to be charged for the subscription until he can cancel

Which type of identity theft is MOST prevalent for people age 19 and under?

• You are more likely to find a product that best fits within your budget
• Employment or tax-related fraud
• A person who has the ability to convince someone to buy a product or service by promoting it on social media
• When design features trick users into doing something that benefits the business

Which of the following is an example of the Roach Motel dark pattern?

• Report the fraudulent charge to his bank and ask them to reverse the transaction
• How authentic the influencer appears
• A website automatically signs you up for a paid subscription when you create an account but there is no easy way to cancel it
• He will continue to be charged for the subscription until he can cancel

An influencer is...

• The text message asks her to call the number that is on the back of her debit card
• A person who has the ability to convince someone to buy a product or service by promoting it on social media
• He may continue to receive unwanted emails and other marketing messages until he is able to cancel
• Examples could include shopping for a new car, electronic device, household supplies, etc