Money Smart for Older Adults Benchmarking Study

Respondent Number _________

Money Smart for Older Adults

Training Evaluation Form

Thank you for participating in this training. This training seeks to empower you with the knowledge, skills and confidence needed to help you detect and respond to fraud, scams and other forms of financial fraud.

This educational training is offered to you as part of a study of the Consumer Financial Protection Bureau to examine how the content of this Money Smart for Older Adults training can help people protect themselves from fraud, scams and other forms of financial fraud. The study results will also be used to assist the organizations that use the training materials to conduct more effective trainings.

In order to know how much this training has helped you gain knowledge, skills and confidence, we would like to ask you some baseline questions and repeat some of those questions at the end of the training.

The questions do not ask for personal information or demographics. Your answers are anonymous.

Your participation in this study is also voluntary, you may withdraw at any time. However, if you decide to participate in the training, we will be collecting some anonymous answers to non- sensitive questions about what your learned and your assessment of the training. The answers to some these questions is required. Without your answers we will be unable to improve the training, and assist the organizations that use the training materials to conduct more effective trainings.

Responding to the questions should take approximately 15 minutes.

Paperwork Reduction Act:

According to the Paperwork Reduction Act of 1995, an agency may not conduct or sponsor, and a person is not required to respond to a collection of information unless it displays a valid OMB control number. The OMB control number for this collection is 3170-0036. It expires on 10/31/2022. Comments regarding this collection of information, including the estimated response time, suggestions for improving the usefulness of the information, or suggestions for reducing the burden to respond to this collection should be submitted to Bureau at the Consumer Financial Protection Bureau (Attention: PRA Office), 1700 G Street NW, Washington, DC 20552, or by email to [email protected].

Privacy Act Statement

5 U.S.C. 552a(e)(3)

The NAME OF THE CONTRACTOR is assisting the focus group sponsor, the Consumer Financial Protection Bureau (“Bureau”), in collecting feedback about the Money Smart for Older Adults (MSOA) program that will improve the MSOA training led by organizations around the country.

The NAME OF CONTRACTOR will obtain and access identifying information such as your name and email address. The Bureau will only obtain, and access, de-identified results and aggregated analyses of those results.

Information collected will be treated in accordance with the System of Records Notice (“SORN”), CFPB.021 – CFPB Consumer Education and Engagement Records, 85 FR 3662 . Although the Bureau does not anticipate further disclosing the information provided, it may be disclosed as indicated in the Routine Uses described in the SORN. Direct identifying information will only be used to facilitate the focus group and will be kept private except as required by law.

This collection of information is authorized by Pub. L. No. 111-203, Title X, Sections 1013 and 1022, codified at 12 U.S.C. §§ 5493 and 5512.

Participation is voluntary.

The following is a scenario. How would you respond?

1a (Randomized)

SCENARIO: Jane is watching TV when the telephone rings. She answers the call and the man on the line says “Congratulations! You’ve won $2.7 million dollars in the lottery!” Jane is surprised. Although she buys lottery tickets, she hasn’t given her name to anyone. The caller tells her that there are a couple of things she needs to do before she can receive her check. He directs Jane to go to her bank and withdraw $270 to cover processing fees. He tells her to forward the funds through a wire service or to buy and send a special prepaid card that will expedite the process.

QUESTION: What were red flags should have warned Jane that she was likely about to become a victim of a scam? Select all that apply.

1. The caller knows that Jane won the lottery.

2. The caller is asking Jane to withdraw cash from her bank account.

3. The caller is asking Jane to buy a prepaid card and then use a wire service.

4. The caller demands an upfront processing fee.

5. Other red flag not listed here

6. Don’t’ know

7. Prefer not to answer

1b (Randomized)

SCENARIO: Jane is home watching TV when the telephone rings. She answers the call and the man on the line says “Congratulations! You’ve won $2.7 million dollars in the lottery!” Jane is surprised. Although she buys lottery tickets, she hasn’t given her name to anyone. The caller tells her that there are a couple of things she needs to do before she can receive her check. He directs Jane to go to her bank and withdraw $270 to cover processing fees. He tells her to forward the funds through a wire service or to buy and send a special prepaid card that will expedite the process.

QUESTION: What were red flags should have warned Jane that she was likely about to become a victim of a scam? Select all that apply.

1. The caller knows that Jane won the lottery

2. The caller is asking Jane to withdraw cash from her bank account

3. The caller is asking Jane to buy a prepaid card and then use a wire service

4. The caller demands an upfront processing fee

5. Other red flag not listed here

6. Don’t’ know

7. Prefer not to answer

1c (Randomized)

SCENARIO: Your friend John got an email from his bank saying that his account is locked. The email directs him to a website to enter his account number, Social Security number, and password to unlock the account. The email appears legitimate. It has the logo, links to the bank website, etc. In the past when John was locked out of the account, he had to enter the same information. John is unsure about the email and calls you for some advice.

QUESTION: Which of the following actions are you likely to recommend John? Select all that apply.

1. Logging in to his account directly by going to the bank website that he knows to be legitimate or logging in from his mobile device banking app

1. Checking the website linked from the email directs him to visit to make sure it looks legitimate

2. Asking family or friends if that has happened before and what to do

3. Calling the bank directly using a number he knows to be legitimate to check if his account was actually locked

4. Other advice not listed here

5. Don’t’ know

6. Prefer not to answer

Please indicate the degree to which you agree with each statement:

	I am able to:	Strongly Disagree	Disagree	Agree	Strongly Agree	Don’t’ know	Prefer not to answer
	Recognize elder financial exploitation.
	Guard against identity theft.
	Plan for a possible loss of the ability to manage my finances.
	Prepare my finances in the event of a natural disaster.
	Find resources to help me manage my money.

Please tell us how frequently you:

		Never	Sometimes	Always	Don’t’ know	Prefer not to answer
	Cover or block others from seeing the Point of Service (POS)/ATM keypad when I enter my PIN
	Carry only the identification, checks, credit cards, or debit cards I really need
	Use direct deposit for paychecks, tax refunds, benefits payments, etc.
	Shred documents with personal/financial information before disposing of/recycling them
	Use complex passwords with a mix of numbers, symbols, and letters instead of easily guessed words
	Review financial statements/bills monthly and identify/correct errors
	Review my credit report annually and identify/ correct errors
	Use secure mailboxes for incoming/outgoing U.S. (or physical) mail
	Avoid providing/sharing personal information (e.g., SSN) whenever possible
	Review my Medicare Summary Notices (MSN), Explanations of Benefits (EOB) statements, and medical bills for suspicious charges.
	Conduct some research before engaging in a major financial transaction
	Consult a trusted person before engaging on any financial offer?
	Report a suspected scam to law enforcement or any local, state, or federal agency or other entity that responds to fraud or scams.
	Educate or warn others about a scam.

1. Who of the following may be perpetrators of elder financial exploitation? Select all that apply.

a. Family members and caregivers

b. Friends or neighbors

c. Unknown people who contact you by phone, text message, email or mail

d. Financial advisers or other financial/investment professionals

e. Don’t’ know

f. Prefer not to answer

2. What is true of a durable power of attorney (POA)?

Select all that apply.

a. It remains in place if you become incapacitated.

b. It allows the person you select to make financial decisions on your behalf.

c. It can be changed or revoked.

d. No one else can monitor the actions of your designated POA.

e. Don’t’ know

f. Prefer not to answer

3. If you receive a call or an email from someone close to you claiming to be in trouble and in need of emergency funds, what should you do? Select all that apply.

a. Call the individual at a known home or cell phone number to verify that the caller was truly the person you know and that the need is legitimate.

b. Immediately send money to the caller, either by purchasing and sending requested gift cards or wiring funds.

c. If the call is from a hospital or law enforcement agency, look up the number of the institution and call the number you find.

d. Hang up immediately.

e. Don’t’ know

f. Prefer not to answer

4. Your bank will never send you an email asking you to verify your account number or any other identifying information.

a. True

b. False

c. Don’t’ know

d. Prefer not to answer

5. Where can you check a financial adviser’s background? Select all that apply.

a. FINRA BrokerCheck

b. Social Security Administration

c. State Securities Regulator

d. Federal Trade Commission

e. Don’t’ know

f. Prefer not to answer

8. What practices should you avoid in selecting someone to repair your roof? Select all that apply.

a. Getting three bids in writing from local established contractors.

b. Using contractors who come to your door and tell you they are working for a neighbor.

c. Asking if the contractor has the required licenses and getting his/her license numbers.

d. Paying in advance

e. Don’t’ know

f. Prefer not to answer

2