FL3

Question 1

Need

Answer 1

is needed for survival

Question 2

Want

Answer 2

Desire to have

Question 3

Priority want

Answer 3

Something we’re willing to invest in

Question 4

Why we want what we want

Answer 4

Pressure, advertising

Question 5

Appeal to Intellect

Answer 5

Logic, stats, or research

Question 6

Appeal to authority

Answer 6

Endorsement

Question 7

Appeal to emotion

Answer 7

Pity, fear, vanity, pleasure, desires

Question 8

Impulse buying

Answer 8

Buying unplanned things

Question 9

Advertising strategies

Answer 9

Appeal to intellect, appeal to authority, appeal to emotion

Question 10

Scarcity

Answer 10

When supply is low and demand is high

Question 11

What happens when a product becomes rare?

Answer 11

It becomes more popular.

Question 12

How do financial resources affect purchases

Answer 12

The more we have, the more we spend.

Question 13

FTC

Answer 13

Federal Trade Commission

Question 14

BBB

Answer 14

Better Business Bureau

Question 15

How to prevent identity theft

Answer 15

Review credit report, only carry what is necessary

Question 16

Email scams

Answer 16

Nigerian prince

Question 17

Phishing

Answer 17

Posing as a financial institution for money

Question 18

Lottery scams

Answer 18

You’ve won, but provide info first

Question 19

Talent scams

Answer 19

Pose as talent scout, spend money on screen test

Question 20

Pyramid scheme

Answer 20

Pyramid schemes are called pyramids because there is a hierarchy of membership that resembles a pyramid. Once you join you are required to pay an enrollment fee to the person above you who paid the person above him or her who paid the person above him or her, and so on and so forth.

Question 21

Gifting scheme

Answer 21

Gifting schemes are similar to pyramid schemes in that they require a “gift,” sometimes as much as $5,000 to $10,000, to be paid to one individual. The promise is that you will eventually become the individual receiving a gift of money from a large number of people. Presumably you receive a large return on your initial investment.

Question 22

Ponzi scheme

Answer 22

Ponzi schemes are similar to pyramid schemes in that new enrollees are promised large returns on an initial investment fee. However, there is no pyramid hierarchy; Ponzi schemes usually involve one central individual who may or may not pay earlier participants with the new enrollment fees.