NEW
Font size
S
M
L
XL
WorksheetsCredit Card & Fraud Review
Total questions: 30
Worksheet time: 34mins
Name
Class
Date
1.
Megan’s credit card statement indicates that she is now paying a penalty APR. Which scenario best describes why?
a)
Megan missed making her January and February credit card payments while she was participating in her college’s Study Abroad program when the friend she left in charge of sending the payments in forgot.
b)
Megan’s credit card payment has been paid in full each of the last 6 months.
c)
Megan’s card had a lower introductory interest rate for the first year and now the interest rate has increased, as stated on her contract.
d)
The new computer Megan purchased made her account go over the credit limit for 1 week, until the credit card company processed her credit card statement.
2.
Paying the minimum payment on a credit card every month will:
a)
pay a large percentage of the total balance owed every month.
b)
make the final amount paid substantially higher than the amount initially charged to the card.
c)
help the cardholder create a plan for paying off a credit card in a decent amount of time.
d)
allow the cardholder to avoid paying any interest charges.
3.
Sarah will turn 18 next month. She plans to apply for a credit card. Which statement is true?
a)
Sarah cannot obtain a credit card until she turns 21.
b)
Sarah will need to use a special application since she is under 25.
c)
Sarah can only obtain a credit card if she has a co‐signer or proof of sufficient income to make the required payments.
d)
Sarah can obtain a credit card by filling out an application as long as she waits until after her 18th birthday.
4.
Tyler is trying to be responsible in using his new credit card and has heard there is a way to avoid paying interest on the things he charges. How can he legally avoid paying interest when using his credit card?
a)
Tyler needs to make sure he pays the minimum balance every month before the due date on the credit card statement.
b)
Tyler needs to pay the credit card balance in full every month before the due date listed on the credit card statement.
c)
Tyler needs to limit the use of his credit cards to balance transfers only.
d)
Tyler needs to understand that the use of a credit card requires paying interest. There is not a legal way for him to avoid paying interest if he uses his card during the billing cycle.
5.
Carson’s wallet with his driver’s license, a debit card, and his credit card has been stolen. Which is not something an identity thief might realistically do with this information?
a)
Rent an apartment under Carson’s name
b)
Use Carson’s name during an arrest
c)
Make purchases with Carson’s credit card
d)
Take a college admissions exam in Carson’s name
6.
Ashley plans to do some of her Christmas shopping online. What is a safety tip to follow when she is shopping online?
a)
Shred all sales receipts as soon as the item purchased has been received.
b)
Use a debit card.
c)
Use a credit card.
d)
Black out the bank account numbers on the credit card bill before returning it with payment.
7.
Which is an act of identity theft?
a)
Receiving permission to use a parents’ credit card for school clothes
b)
Wrongfully acquiring and using someone’s personal identification
c)
Taking the identity of another individual as inspiration for a costume
d)
Having the same name as another person
8.
Which action will not make an individual vulnerable to identity theft?
a)
Using a computer without updated spyware protection
b)
Responding to an email from one’s depository institution
c)
Paying cash for a movie ticket
d)
Throwing mail in the garbage
9.
Which is a general rule when dealing with credit reports to minimize identity theft?
a)
Check each credit report at least once per year.
b)
Wait 60 days before disputing any wrong information found in a credit report or on a credit card statement.
c)
Keep credit reports in an easily accessible location, so information can be accessed if fraud occurs.
d)
Report mistakes to only one credit reporting agency and they will inform the others.
10.
Matt wants to guard his personal information. Which personal information is least likely to be used by scammers?
a)
Phone numbers
b)
Credit card numbers
c)
Bank account numbers
d)
Driver’s license numbers
11.
Charis wants to decrease the risk of fraudulent use of her credit cards. Which strategy would be the most effective?
a)
Carrying all credit cards in her wallet so they do not get lost
b)
Signing the back of her card with her signature and “Please see picture ID”
c)
Giving account numbers over the Internet rather than over the phone
d)
Using credit cards for all her purchases so she only needs to pay one bill each month
12.
What does APR stand for?
a)
Annual Profit Return
b)
Always Pay Receipts
c)
Annual Percentage Rate
d)
All Places Required
13.
What is a balance transfer?
a)
Amount of purchases made in a month
b)
Equal switching of jobs
c)
Getting cash using credit card
d)
Transferring debt from one credit card to another
14.
What is a cash advance?
a)
printing money at home
b)
getting cash using credit card
c)
transferring debt from one card to another
d)
buying items
15.
If you're between 18-21, how do you get a credit card?
a)
get a co-signer &/or provide proof of sufficient income to make payments
b)
steal one
c)
apply for one on your own
d)
pick one up off the street
16.
If your credit card is stolen or lost, what is the first thing to do?
a)
cry and call your mama/daddy
b)
call the credit card company/bank
c)
tell a friend
d)
submit a new application
17.
Which is NOT a positive credit card behavior?
a)
post your credit card number on Facebook
b)
be aware of how your credit card affects your credit history
c)
pay the entire amount on time every month
d)
check statement monthly for errors
18.
which is not an example of ID theft/fraud?
a)
going to the bank to cash a check you found on the street
b)
taking someone's wallet & ID
c)
using your debit card at another bank's ATM
d)
making up a credit card number for an online purchase
19.
How often should you purchase fraud protections/ID watch (ex. Lifelock)
a)
Every 6 months
b)
Never
c)
Once a month
d)
Once a year
20.
Which of the following is best for online purchases?
a)
debit card
b)
credit card
c)
mailing a check
d)
mailing cash
21.
a person who purchases goods and
services for personal use
services for personal use
a)
consumer
b)
credit history
c)
credit report
22.
A scam in which an email is sent from someone posing as your bank or other legitimate business asking for personal information.
a)
Social Engineering
b)
Skimming
c)
Phishing
d)
Pharming
23.
When someone wrongfully acquires and uses someone’s personal identification, credit or account information.
a)
Hacking
b)
Identity Theft
c)
Dumpster Diving
d)
Skimming
24.
The federal agency that handles is the federal clearinghouse for complaints of identity theft.
a)
Social Engineering
b)
Credit Card Fraud
c)
Personal Information
d)
Federal Trade Commission (FTC)
25.
Software that is installed on a computing device to prevent viruses from infecting the device.
a)
Antivirus
b)
Firewall
c)
Phishing
d)
Spyware
26.
Software installed on the victim’s computer, without their knowledge or consent, that monitors internet use, sends pop up ads, re-directs the computer to other sites, and tracks key strokes.
a)
Firewall
b)
Antivirus
c)
Spyware
d)
Spam
27.
Where should you keep your social security card?
a)
In you wallet
b)
With your parents
c)
In a secure place at your home
d)
In the bank
28.
What should you do with paid bills or other important documents that have personal information on it?
a)
Put in the trash
b)
Shred them
c)
Give to your parents
d)
Keep them in your house
29.
Someone got my credit card statement out of my mail box. I am a victim of?
a)
Theft of my wallet
b)
Dumpster Diving
c)
Mail Fraud
d)
shoulder surfing
30.
Which of the following is not a credit card company?
a)
VISA
b)
Mastercard
c)
American Express
d)
NASCAR
Reset
