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Economics Foolproof Module 1 & 2 Questions and Answers
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Economics Foolproof Module 1 & 2 Questions and Answers T/F: Most online financial institutions & businesses will regularly send you emails asking you to update your account information by going to a link in their email. False If you mismanage your checking account by bouncing checks repeat...

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  • September 11, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • economics foolproof module 1 2 questions and ans
  • tf most online financial institutions business
  • if you mismanage your checking account by bouncing
  • which answer applies to fine print fine print

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  • Foolproof

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Economics Foolproof Module 1 & 2
Questions and Answers

T/F: Most online financial institutions & businesses will regularly send you emails asking
you to update your account information by going to a link in their email. - answer False

If you mismanage your checking account by bouncing checks repeatedly or ignoring
overdraft notices, which of the following results may happen to you? - answer All of the
above

Which answer applies to "fine print"? - answer- Fine print is usually where virtually all
the important information is located.
- You should always read the fine print.
- The fine print is always the print you want to ignore.
- Many companies like fine print because you can be confused by it, & make the wrong
decision.

You owe $1,000 on a credit card & choose to pay the minimum payment each month.
Which answer is correct? - answer- Credit card companies love you when you only
make minimum payments. Why? You're throwing your money away by paying extra
interest each month.
- Making minimum payments means it could take thirty or forty years to pay off that
$1,000 credit card bill.

Having a bad credit history impacts every one of these items but one. Which is the one
item not impacted by bad credit history? - answer The fact that I am a good person.

What statement is TRUE about "phishing scams"? - answer Phishing scams cannot hurt
you if you do not respond to them.

What answer best describes a Nigerian scam? - answer Nigerian scammers nearly
always want you to send money back to them.

In the module, we gave you a link to a true story called "Looking for a Roommate?".
How much money did one girl lose in this Nigerian scam? - answer$3,500

What is Fool Proof’s definition of "looking like a fool"? - answer Falling for anything
which makes companies & other people think you're too stupid or too young to know
better.

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