Identity Theft: Protect Yourself from Financial Fraud

Question 1

Which of the following types of personal information is NOT commonly targeted by identity thieves?

Accepted Answer

Your pet's name

Answer

Social Security number

Answer

Credit card numbers

Answer

Birthdate

Question 2

Which of the following is NOT a potential repercussion of identity theft?

Accepted Answer

Enhanced job opportunities

Answer

Financial losses

Answer

Damage to credit score

Answer

Emotional distress

Question 3

Which of the following is a reliable source of information about identity theft?

Accepted Answer

Government websites and consumer protection agencies

Answer

Social media platforms

Answer

Friends and family

Answer

Online forums and discussion boards

Question 4

What immediate action should be taken if identity theft is suspected?

Accepted Answer

Taking all the aforementioned steps

Answer

Contacting credit reporting agencies and banks

Answer

Filing a police report

Answer

Reporting the incident to the FTC (Federal Trade Commission)

Question 5

Which type of identity theft involves using stolen information to open accounts in the victim's name?

Accepted Answer

Financial identity theft

Answer

Medical identity theft

Answer

Tax identity theft

Answer

Criminal identity theft

Question 6

Define a credit freeze.

Accepted Answer

A temporary measure that restricts access to credit reports without consent

Answer

A permanent measure that prevents credit reports from being released

Answer

Insurance against potential identity theft

Answer

A service that monitors credit reports for suspicious activity

Question 7

What is the primary purpose of a social security number?

Accepted Answer

Identification for tax and social security purposes

Answer

Monitoring spending habits

Answer

Providing access to government services

Answer

Registration for voting

Question 8

Identify an action that cannot lead to identity theft.

Accepted Answer

Knowing someone's name and address

Answer

Phishing emails

Answer

Lost wallets or purses

Answer

Computer hacking

Question 9

Which of the following is a secure method for transmitting sensitive information online?

Accepted Answer

Encrypted website

Answer

Email

Answer

Text message

Answer

Unencrypted website

Question 10

What is the purpose of a credit freeze?

Accepted Answer

To prevent access to your credit report

Answer

To cancel all your credit cards

Answer

To alert creditors of potential identity theft

Answer

To remove negative items from your credit report

Question 11

Which of the following is a type of fraud that involves using someone else's personal information to obtain goods or services?

Accepted Answer

Identity theft

Answer

Credit card fraud

Answer

Mortgage fraud

Answer

Insurance fraud

Question 12

What is the most important step you can take to recover from identity theft?

Accepted Answer

Contacting credit bureaus

Answer

Filing a police report

Answer

Obtaining a new Social Security number

Answer

Hiring a private investigator

Question 13

Which of the following is not a type of identity theft?

Accepted Answer

Online gaming identity theft

Answer

Financial identity theft

Answer

Medical identity theft

Answer

Utilities identity theft

Question 14

What is the name of the federal law that protects consumers from identity theft?

Accepted Answer

Identity Theft Prevention Act

Answer

Fair Credit Reporting Act

Answer

Financial Fraud Enforcement Act

Answer

Consumer Fraud and Abuse Act

Question 15

Which type of identity theft is the most prevalent?

Accepted Answer

Credit card fraud

Answer

Tax fraud

Answer

Medical identity theft

Answer

Government benefits fraud

Question 16

Which action listed below would NOT be advisable for preventing identity theft?

Accepted Answer

Posting personal information on social media

Answer

Shredding sensitive documents

Answer

Using strong passwords

Answer

Monitoring your credit report

Question 17

What is the main purpose of a credit freeze?

Accepted Answer

To prevent new credit accounts from being opened in your name

Answer

To lower your credit score

Answer

To cancel existing credit cards

Answer

To get a free credit report

Question 18

Which of the following is NOT a type of identity theft?

Accepted Answer

Property theft

Answer

Credit card fraud

Answer

Medical identity theft

Answer

Social Security number theft

Question 19

What is a credit freeze?

Accepted Answer

A temporary measure that prevents creditors from accessing your credit report without your consent

Answer

A permanent measure that prevents creditors from accessing your credit report

Answer

A type of identity theft protection service

Answer

A form of credit monitoring

Question 20

Which of the following is NOT a benefit of identity theft monitoring services?

Accepted Answer

Prevention of identity theft

Answer

Notifications of suspicious activity

Answer

Credit report monitoring

Answer

Insurance coverage for identity theft expenses

Question 21

What is the name of the government agency responsible for investigating identity theft?

Accepted Answer

Federal Trade Commission (FTC)

Answer

Federal Bureau of Investigation (FBI)

Answer

Secret Service

Answer

Internal Revenue Service (IRS)

Question 22

Which of the following is NOT a recommended practice for protecting your identity online?

Accepted Answer

Sharing personal information on social media

Answer

Using strong passwords and changing them regularly

Answer

Enabling two-factor authentication

Answer

Using a virtual private network (VPN)

Question 23

What type of identity theft involves using someone else's Social Security number?

Accepted Answer

Tax identity theft

Answer

Synthetic identity theft

Answer

Medical identity theft

Answer

Criminal identity theft

Question 24

What is the purpose of a credit freeze?

Accepted Answer

To prevent new credit accounts from being opened in your name without your consent

Answer

To remove negative information from your credit report

Answer

To monitor your credit activity and alert you to suspicious activity

Answer

To repair your credit after identity theft

Question 25

Which of the following is NOT a sign of identity theft?

Accepted Answer

Unexpected lottery winnings

Answer

Unauthorized withdrawals from your bank account

Answer

Unexpected credit inquiries

Answer

Unusual activity on your credit report

Question 26

Which type of identity theft involves obtaining goods or services using someone else's personal information?

Accepted Answer

Financial identity theft

Answer

Medical identity theft

Answer

Criminal identity theft

Answer

Child identity theft

Question 27

What is the purpose of a credit freeze?

Accepted Answer

To prevent new credit accounts from being opened in your name

Answer

To remove existing credit inquiries from your credit report

Answer

To monitor your credit activity

Answer

To dispute fraudulent charges

Question 28

Which of the following is NOT a form of financial identity theft?

Accepted Answer

Medical identity theft

Answer

Credit card fraud

Answer

Bank account takeover

Answer

Student loan fraud

Question 29

Which U.S. government agency is responsible for investigating identity theft cases?

Accepted Answer

Federal Trade Commission (FTC)

Answer

Federal Bureau of Investigation (FBI)

Answer

Internal Revenue Service (IRS)

Answer

Secret Service

Question 30

Which of the following is NOT a sign that you may be a victim of identity theft?

Accepted Answer

Your identity documents are securely stored

Answer

Receiving bills for accounts you did not open

Answer

Noticing unauthorized charges on your credit cards

Answer

Receiving medical statements for appointments you did not make

Question 31

What is the primary reason to freeze your credit?

Accepted Answer

To prevent new accounts from being opened in your name without your consent

Answer

To stop creditors from accessing your credit report

Answer

To remove negative items from your credit report

Answer

To improve your credit score

Question 32

Why is it important to shred sensitive documents before discarding them?

Accepted Answer

To prevent identity thieves from accessing personal information

Answer

To reduce the risk of paper jams in recycling bins

Answer

To comply with privacy regulations

Answer

To save space in your trash can

Question 33

What is the best way to protect your Social Security number?

Accepted Answer

Memorize it and keep it confidential

Answer

Carry it on you at all times

Answer

Share it with trusted individuals

Answer

Use it as a PIN number for accounts

Question 34

What is the most common type of financial identity theft?

Accepted Answer

Credit card fraud

Answer

Bank account fraud

Answer

Loan fraud

Answer

Tax fraud

Question 35

Why is a credit freeze primarily initiated?

Accepted Answer

To temporarily limit access to your credit report.

Answer

To remove fraudulent accounts from your credit history.

Answer

To monitor credit activity and receive alerts about suspicious changes.

Question 36

What is the primary purpose of using a credit monitoring service?

Accepted Answer

To notify you of suspicious credit inquiries or activity that may indicate identity theft

Answer

To provide insurance coverage for stolen or compromised identities

Answer

To assist you in disputing fraudulent transactions with creditors

Answer

To recover stolen funds lost due to identity theft

Question 37

Which of the following would NOT be considered an indication that you may have become a victim of identity theft?

Accepted Answer

A sudden increase in your credit score

Answer

Unauthorized withdrawals from your bank account

Answer

Collection calls for debts you don't recognize

Answer

New credit accounts opened in your name without your knowledge

Question 38

Which of the following types of identity theft involves using someone else's personal information to obtain medical services?

Accepted Answer

Medical identity theft

Answer

Financial identity theft

Answer

Criminal identity theft

Answer

Government identity theft

Question 39

In the event that you suspect you have become a victim of identity theft, which of the following is the most appropriate initial action to take?

Accepted Answer

Reach out to the fraud departments of the three major credit bureaus and your financial institutions.

Answer

Immediately alter your passwords

Answer

File a police report

Question 40

Which of the following is a technique, known as a social engineering attack, that can be employed to pilfer personal information?

Accepted Answer

Phishing

Answer

Skimming

Answer

Malware

Answer

Hacking

Question 41

What is the primary purpose of initiating a credit freeze?

Accepted Answer

To prevent the opening of new credit accounts in your name without your explicit authorization

Answer

To negatively impact your credit score

Answer

To cancel all existing credit accounts and loans

Question 42

Which of the following advantages is associated with utilizing a robust password?

Accepted Answer

It significantly hinders unauthorized individuals from deciphering your password

Answer

It shields your personal information from theft

Answer

It enables faster access to your accounts

Question 43

Which U.S. government agency offers free support and guidance to victims of identity theft?

Accepted Answer

Federal Trade Commission (FTC)

Answer

Internal Revenue Service (IRS)

Answer

Social Security Administration (SSA)

Answer

Department of Homeland Security (DHS)

Question 44

What is the most common sign of identity theft?

Accepted Answer

Unauthorized credit card charges

Answer

Calls from unknown debt collectors

Answer

Missing mail

Answer

Identity theft protection alerts

Question 45

Which of the following is NOT a way to protect yourself from identity theft?

Accepted Answer

Using public Wi-Fi networks without a VPN

Answer

Monitoring credit reports

Answer

Being cautious of phishing emails

Answer

Creating strong passwords

Question 46

What should you do if you suspect you are a victim of identity theft?

Accepted Answer

File a police report and contact credit bureaus

Answer

Ignore it and hope it goes away

Answer

Only change your passwords

Answer

Post about it on social media

Question 47

What type of identity theft involves using someone else's name to commit crimes?

Accepted Answer

Criminal identity theft

Answer

Employment identity theft

Answer

Medical identity theft

Answer

Financial identity theft

Question 48

Which of the following is a benefit of monitoring your credit reports?

Accepted Answer

Early detection of identity theft

Answer

Personalized credit card offers

Answer

Discounts on insurance premiums

Answer

Free access to your credit score

Question 49

What is the best way to create a strong password?

Accepted Answer

Use a combination of uppercase and lowercase letters, numbers, and symbols, and make it at least 12 characters long

Answer

Use the same password for all accounts

Answer

Use a common word or phrase

Question 50

What is the most effective way to report identity theft?

Accepted Answer

File a report with the Federal Trade Commission (FTC) and local law enforcement

Answer

Call the credit bureaus only

Answer

Submit a complaint to your bank