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Unit 8: Financial Pitfalls

Total questions: 11

Worksheet time: 6mins

Name
Class
Date
1.

Trained professional planner who give overall investment advice based on your goals, age, lifestyle, and other factors

a)

financial planner

b)

certified public accountant

c)

real estate agent

d)

insurance agent

2.

An intentional deception to get an unfair gain. Can apply to many different contexts - insurance, voting, healthcare, bank account, taxes, etc.

a)

scam

b)

fraud

c)

predatory lending

d)

payday loan

3.

An activity that results in an easy profit for one person and a financial loss for the other person

a)

scam

b)

fraud

c)

predatory lending

d)

personal loan

4.

The crime of obtaining someone else's personal data and using it for financial gain or to defraud or deceive

a)

scam

b)

restitution

c)

predatory lending

d)

identity theft

5.

A small loan, offered through a business, lent at a high interest rate, and meant to be paid as soon as you receive your next paycheck

a)

personal loan

b)

predatory lending

c)

payday loan

d)

restitution

6.

Loan granted from one individual to another, where usually the people know one another and jointly decide on loan terms

a)

personal loan

b)

predatory lending

c)

payday loan

d)

restitution

7.

A business that rents household items at extremely high interest rates with no down payment and no credit check; completing all the payments on time allows the consumer to eventually own the item

a)

predatory

b)

rent-to-own

c)

predatory lending

d)

restitution

8.

The act of lending money at an unreasonably high interest rate, making repayment excessively difficult, or charging excessive fees such that the debtor is trapped in a cycle of debt

a)

personal loan

b)

predatory lending

c)

rent-to-own

d)

payday loan

9.

An independent agency of the U.S. government who enforces antitrust laws and the promotion of consumer protection

a)

Federal Trade Commission (FTC)

b)

Better Business Bureau

10.

An agency of the Ohio government that protects citizens from predatory and illegal business practices,

a)

Better Business Bureau

b)

Office of Consumer Protection

11.

A private organization that investigates consumer complaints of dishonest business practices

a)

Better Business Bureau

b)

Federal Trade Commission (FTC)

c)

Office of Consumer Protection