Unit Test Study Guide
What types of advertising are there?
Omission - to leave something out
Ex: Pop tarts saying that it is part of a “healthy” breakfast
Cartoon Character mascots
Ex: Tony the tiger, Gecko Gieco
Sounds Good - music and other sound effects that can add excitement to the commercial
JG went worth ad
We will rock you ad
HeartStrings - This ad makes you either feel good, or sad
St. Jude Hospital
Sad puppy dog shelter videos
Repetition - Advertisers repeat the commercial over and over again
Facts and Figures - An ad that puts down another company to make their product seem better.
Scale - A Scale ad is when advertisers make a product look bigger or smaller than the actual product
Bandwagon - joining the crowd
Starpower - celebrities or influencers that are in ads
Ideal kids - this ad is targeted towards families
Excitement
What is the National “Do Not Call” registry?
The National “Do Not Call” registry is designed to stop unwanted sales calls from real corruption from real companies that follow the law.
What are some Scams that the FTC try to protect consumers from?
Tech Support system
UPS text messages
Fake debt collectors
Deceptive mortgage loans
What is the FTC? What is their mission?
The Federal Trade Commision is a agency created to prevent consumers from failing victims to scams from unfair business practices.
What are the two focuses for the FTC?
Consumer Protection
Competition
Pyramid Scheme | Ponzi Scheme | Predatory Lending |
Definition: A pyramid scheme is a type of financial fraud that tricks people into paying money to sell memberships to other people. | Definition: A ponzi scheme(named after Charles Ponzi) is a scheme that pays old investors with the new investors money. | Definition: Predatory Lending Is when lendors use false appraisals to trick borrowers. |
Example: LulaRoe scandal | Example: Charles Ponzi scam | Example:
|
Describe the rise and fall of Sam bankman-Fried?
Sam bankman fried has two companies
Almeda - trading
Buying and investing in crypto
FTX - exchange
He starts taking the peoples money from FTX and transfer it into Almeda.
What is the difference between Pyramid and Ponzi scheme?
Pyramind scheme involves recruiting other people with a real product.
Ponzi scheme is pretending to invest in your money.
Name four ways to protect myself from a identity theft
Read account statements and bills
Read explanations of medical benefits
Keep track of bills and mail
Get and review your credit report
What should you do if you are a victim of a scam?
Report it
Contact the bank
Four requirements of a good deal(things that must be met)?
Product is needed and wanted
Items quality is suitable
Product sells at a price you’re willing to pay
Dealer is reputable
How do multi-level companies like Lula-roe make money?
Lula-roe runs a pyramid scheme. They are making money off of their recruits bringing in new recruits.
What types of advertising are there?
Omission - to leave something out
Ex: Pop tarts saying that it is part of a “healthy” breakfast
Cartoon Character mascots
Ex: Tony the tiger, Gecko Gieco
Sounds Good - music and other sound effects that can add excitement to the commercial
JG went worth ad
We will rock you ad
HeartStrings - This ad makes you either feel good, or sad
St. Jude Hospital
Sad puppy dog shelter videos
Repetition - Advertisers repeat the commercial over and over again
Facts and Figures - An ad that puts down another company to make their product seem better.
Scale - A Scale ad is when advertisers make a product look bigger or smaller than the actual product
Bandwagon - joining the crowd
Starpower - celebrities or influencers that are in ads
Ideal kids - this ad is targeted towards families
Excitement
What is the National “Do Not Call” registry?
The National “Do Not Call” registry is designed to stop unwanted sales calls from real corruption from real companies that follow the law.
What are some Scams that the FTC try to protect consumers from?
Tech Support system
UPS text messages
Fake debt collectors
Deceptive mortgage loans
What is the FTC? What is their mission?
The Federal Trade Commision is a agency created to prevent consumers from failing victims to scams from unfair business practices.
What are the two focuses for the FTC?
Consumer Protection
Competition
Pyramid Scheme | Ponzi Scheme | Predatory Lending |
Definition: A pyramid scheme is a type of financial fraud that tricks people into paying money to sell memberships to other people. | Definition: A ponzi scheme(named after Charles Ponzi) is a scheme that pays old investors with the new investors money. | Definition: Predatory Lending Is when lendors use false appraisals to trick borrowers. |
Example: LulaRoe scandal | Example: Charles Ponzi scam | Example:
|
Describe the rise and fall of Sam bankman-Fried?
Sam bankman fried has two companies
Almeda - trading
Buying and investing in crypto
FTX - exchange
He starts taking the peoples money from FTX and transfer it into Almeda.
What is the difference between Pyramid and Ponzi scheme?
Pyramind scheme involves recruiting other people with a real product.
Ponzi scheme is pretending to invest in your money.
Name four ways to protect myself from a identity theft
Read account statements and bills
Read explanations of medical benefits
Keep track of bills and mail
Get and review your credit report
What should you do if you are a victim of a scam?
Report it
Contact the bank
Four requirements of a good deal(things that must be met)?
Product is needed and wanted
Items quality is suitable
Product sells at a price you’re willing to pay
Dealer is reputable
How do multi-level companies like Lula-roe make money?
Lula-roe runs a pyramid scheme. They are making money off of their recruits bringing in new recruits.
