TC2--MSU Adulting: Avoiding Money Mishaps Quiz

What is the primary focus of the course "Avoiding Money Mishaps"?

• Advanced investment strategies

• Preventing fraud, scams, and identity theft

• Cryptocurrency trading

• Real estate investment

Which of the following is a recommended strategy to avoid falling victim to scams?

• Ignoring unsolicited calls and emails

• Sharing personal information freely

• Verifying the legitimacy of offers before responding

• Responding immediately to offers that seem too good to be true

What is a common sign of a predatory lending practice?

• Low interest rates

• Flexible repayment terms

• High fees and unclear terms

• Transparent and straightforward agreements

Which of the following is a recommended action to protect your identity?

• Sharing your Social Security number freely

• Using strong and unique passwords for online accounts

• Ignoring credit report monitoring services

• Publicly sharing personal information on social media

What is the purpose of the FDIC insurance for bank accounts?

• To provide loans to account holders

• To insure deposits up to $250,000 per depositor

• To offer investment opportunities

• To charge fees for account maintenance

Which of the following is a recommended practice when using credit cards?

• Carrying a high balance to improve credit score

• Paying only the minimum payment each month

• Paying the full balance on time to avoid interest charges

• Sharing your credit card information with others

What should you do if you notice unauthorized transactions on your bank account?

• Ignore them if the amount is small

• Contact your bank immediately to report the issue

• Wait for the next statement to see if they resolve

• Attempt to resolve the issue yourself without notifying the bank

Which of the following is a sign of a potential phishing scam?

• An email from a known contact

• A message requesting personal information urgently

• A phone call from a recognized company

• A letter from your bank with official branding

What is the recommended action if you receive an unsolicited offer that seems too good to be true?

• Accept the offer immediately

• Research the offer and the company before responding

• Share the offer with friends and family

• Ignore the offer without any further action

Why is it important to monitor your credit report regularly?

• To increase your credit score

• To identify and dispute any inaccuracies or fraudulent activities

• To apply for new credit cards

• To reduce your credit limit