Basic Trivia Quiz On Fraud!

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| By Chris.nigrin
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Chris.nigrin
Community Contributor
Quizzes Created: 1 | Total Attempts: 118
Questions: 8 | Attempts: 118

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Basic Trivia Quiz On Fraud! - Quiz


Questions and Answers
  • 1. 

    You should be courteous to telemarketers and listen to their pitch.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    Be wary of pushy telemarketers who try to pressure you into making immediate decisions, ask for personal information like credit card numbers, Social Security numbers or bank account numbers. You don’t have to talk with telemarketers. Just hang up!

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  • 2. 

    State insurance regulators can help you recover investment losses.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    Insurance and securities investments are not insured. You should determine what degree of risk you are willing to take, knowing that legitimate investments are not guaranteed against market loss. In cases of fraud, sometimes a state regulator can help with restitution of a portion of the losses.

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  • 3. 

    Reporting cases of investment and insurance fraud won’t help get your money back.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Your investment losses are not insured, but reporting cases of fraud will help protect others against the same schemes. Don’t let embarrassment or fear stop you from alerting others.

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  • 4. 

    You can reduce the number of telemarketing calls you receive.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Get on the National Do Not Call Registry at www.donotcall.gov or call 888-382-1222.

    Rate this question:

  • 5. 

    Websites and brochures are reliable indicators of legitimate investments.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    Unscrupulous salespeople often use professional-looking materials and websites to make their schemes look legitimate. Always double-check before you invest and verify the investment with a state regulator.

    Rate this question:

  • 6. 

    You should always check before you invest, even if a recommendation comes from someone you trust and have done business with for many years.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    You should always assess your investment objectives and determine the risk involved
    before making any investment decisions. And never allow the salesperson to manage your assets
    as he or she sees fit without consulting you.

    Rate this question:

  • 7. 

    High rates of return often involve high risk.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Be wary of salespeople who offer low-risk investments with high rates of return. Never invest more than you can afford to lose.

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  • 8. 

    State regulators can help you verify the legitimacy of an insurance or investment representative or company.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    Take a pledge to stop, think and double-check before you invest.

    Rate this question:

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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Dec 08, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jun 04, 2015
    Quiz Created by
    Chris.nigrin
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