Insurance
Type of insurance required by law
What is car insurance?
Enforces this to keep prices of goods and services low for consumers
What are antitrust laws?
This Act allows people to correct inaccurate credit files more easily
What is the Fair Credit Reporting Act?
In this situation, criminals pay existing investors with funds collected from new investors.
What is a Ponzi Scheme?
How a debit card can cause you problems
What is giving direct access to your bank accounts?
Type of people likely to purchase renters insurance
Who are apartment residents or people renting a house?
The group of people the FTC is mainly concerning with protecting
Who are consumers?
Why people register with the National Do Not Call Registry
What is to receive fewer calls from telemarketers?
The most often result of Ponzi schemes
What is investors losing their money?
The term for the amount you pay for insurance
What is a premium?
The type of insurance that most often protects an individual who is being sued by a third party
What is liability insurance?
A reason that the FTC might sue a company
What is false advertising?
Acts as a mediator between consumers and companies
What is the BBB?
The type of fraud involving emails that appear to be from your bank but aren't.
What is phishing?
The difference between term and whole life insurance
What is covering a certain period of time versus covering the policyholder throughout their life?
Two types of people who would need life insurance
Who are Parents and older people?
An example of a business practice the FTC can stop in order to help consumers
What is unfair, deceptive, and fraudulent business practices?
If you tried to cancel a contract with the cable company and they refused, who you could file a claim with.
What is the Attorney General's Office?
How Ponzi schemes most often attract investors
What is promising high returns with little risk?
This allows Labor Unions to represent workers
What is the National Labor Relations Act?
4 types of insurance a 32-year old construction worker, married with 2 children, who owns his home needs.
What are car, health, life, and homeowners?
The FTC helps prevent consumers from becoming victims of this
What is (investment) fraud?
Typically starts with one person - the initial recruiter
What is a pyramid scheme?
Maria's bank account number and Social Security number were stolen and the criminal used this information to apply for loans and credit cards.
What is identity theft?
This serves as an intermediary between the employer and the employees.
What is a Labor Union?