Viral or Vicious?

Consumer Skills

KAHOOT

VERSION

1. What is a leading reason why social media commerce saw such a big increase in 2020?

• The pandemic led people to spend more time online
• Without a social media presence, companies fail
• The number of viral videos increased exponentially
• Only 1% of the US population is not on social media

VIRAL OR VICIOUS | APRIL 2, 2021 EDITION | NEXT GEN PERSONAL FINANCE

1. What is a leading reason why social media commerce saw such a big increase in 2020?

• The pandemic led people to spend more time online
• Without a social media presence, companies fail
• The number of viral videos increased exponentially
• Only 1% of the US population is not on social media

VIRAL OR VICIOUS | APRIL 2, 2021 EDITION | NEXT GEN PERSONAL FINANCE

2. Which feature of social media makes it an effective place for learning about finance?

• There are a lot of people on social media
• Social media platforms are global, not national
• The platforms are visual with lots of videos & images
• Most content is sponsored by brands & companies

VIRAL OR VICIOUS | APRIL 2, 2021 EDITION | NEXT GEN PERSONAL FINANCE

2. Which feature of social media makes it an effective place for learning about finance?

• There are a lot of people on social media
• Social media platforms are global, not national
• The platforms are visual with lots of videos & images
• Most content is sponsored by brands & companies

VIRAL OR VICIOUS | APRIL 2, 2021 EDITION | NEXT GEN PERSONAL FINANCE

3. There’s a fast-growing number of Multi-Level Marketing companies with recruitment schemes in:

• Creating online courses
• Creating Tik Tok dances
• Learning to trade stocks & forex (foreign exchange)
• Learning social media search engine optimization

VIRAL OR VICIOUS | APRIL 2, 2021 EDITION | NEXT GEN PERSONAL FINANCE

3. There’s a fast-growing number of Multi-Level Marketing companies with recruitment schemes in:

• Creating online courses
• Creating Tik Tok dances
• Learning to trade stocks & forex (foreign exchange)
• Learning social media search engine optimization

VIRAL OR VICIOUS | APRIL 2, 2021 EDITION | NEXT GEN PERSONAL FINANCE

4. What is one way that hackers target financial influencers on social media?

• Creating fan pages and selling merch
• Creating fake accounts to ask followers for money
• Promoting a fake event to collect email addresses
• Promoting posts that are unrelated to money

VIRAL OR VICIOUS | APRIL 2, 2021 EDITION | NEXT GEN PERSONAL FINANCE

4. What is one way that hackers target financial influencers on social media?

• Creating fan pages and selling merch
• Creating fake accounts to ask followers for money
• Promoting a fake event to collect email addresses
• Promoting posts that are unrelated to money

VIRAL OR VICIOUS | APRIL 2, 2021 EDITION | NEXT GEN PERSONAL FINANCE

5. Which platforms did Financial Advisors surveyed in the US say they used most?

• Tik Tok and Twitter
• Youtube and Snapchat
• Linkedin and Facebook
• Instagram and Pinterest

VIRAL OR VICIOUS | APRIL 2, 2021 EDITION | NEXT GEN PERSONAL FINANCE

5. Which platforms did Financial Advisors surveyed in the US say they used most?

• Tik Tok and Twitter
• Youtube and Snapchat
• Linkedin and Facebook
• Instagram and Pinterest

VIRAL OR VICIOUS | APRIL 2, 2021 EDITION | NEXT GEN PERSONAL FINANCE

VIRAL OR VICIOUS | APRIL 2, 2021 EDITION | NEXT GEN PERSONAL FINANCE

You’ve completed the exercise, now it’s time to learn

more about the current event:

Discussion Prompt:

VIRAL OR VICIOUS | APRIL 2, 2021 EDITION | NEXT GEN PERSONAL FINANCE

Do you get financial advice on social media? Why or why not? (If so, what advice? And from whom?)

Extend Your Learning

VIRAL OR VICIOUS | APRIL 2, 2021 EDITION | NEXT GEN PERSONAL FINANCE

Three Relevant Resources from NGPF:

• ANALYZE: The Influence of Social Media (Activity)
• Scams & Fraud (Full Year Lesson)
• How Social Media Keeps You Poor (EdPuzzle)

​

References:

• Need help with financial planning? Look on social media (CNBC)
• Can TikTok Make You Better at Money? These Creators Think So (Next Advisor)
• Who uses social media for financial advice? Lots of people, actually (The Guardian)
• Viral or vicious? Financial advice blows up on TikTok (investmentnews.com)
• Is Forex Trading the Latest Pyramid Scheme? (Dame Magazine)