Shared Flashcard Set

Details

Business
N/A
23
Finance
12th Grade
11/29/2012

Additional Finance Flashcards

 


 

Cards

Term
Failure to Plan
Definition
Not making shopping lists, spending plans, doing comparison shopping, etc.
Term
Failure to Protect
Definition
Not securing personal information and property.
Term
Failure to be Informed
Definition
Not reading labels, fine print, contracts, sales offers, etc.
Term
Failure to Communicate
Definition
Not asking questions, discussing purchases, saying "no" when needed.
Term
Scam/Scheme
Definition
A plot designed to trick someone; a deception.
Term
Illegal
Definition
Against the law.
Term
Lie/Lying
Definition
To tell an untruth/the habit or practice of telling untruths.
Term
Concealing Information
Definition
Hiding information;hiding the truth.
Term
Pyramid
Definition
A scam that usually involves a "get rich quick" chain letter, sending money to others in order to, supposedly, receive money in the mail yourself.
Term
Chain Letter
Definition
A letter asking one to send several letters with money in order to, supposedly, receive money in the mail yourself.
Term
High-Pressure Sales Approach
Definition
Using extreme tactics to persuade a consumer to buy.
Term
Vague Offers
Definition
Offers that withhold certain details, expecting one to pay up front to get them.
Term
Sweepstakes Letter
Definition
States that one has won a valuable prize, but must pay a fee to claim it.
Term
Lottery
Definition
Prizes awarded by chance after purchase of a ticket; ver small chance of winning.
Term
Earn-Money-at-Home Offers
Definition
Offers that hinge on a consumer first purchasing something.
Term
Condition
Definition
A stipulation or prerequisite.
Term
Winning bid at Auctions
Definition
A scam artist may notify you that you have the winning bid, ask for money, but never ship the item purchased.
Term
Identity Theft
Definition
Stealing one's personal information to commit theft or fraud.
Term
Media
Definition
Means of communicating---e.g., word of mouth, telephone, texting, emails, etc.
Term
Federal Trade Commission
Definition
FTC; a government agency to assist consumers who've been victims of fraud.
Term
National Consumers League
Definition
Has a website where incidents of consumer fraud may be reported.
Term
Better Business Bureau
Definition
A local consumer protection agency.
Term
State Attorney General
Definition
This state office assists consumers who have been victimized by fraud.
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