International Baccalaureate (IB) Practice Exam

Should you buy identity theft protection that only provides credit report monitoring?

1. True

2. False

The correct answer is: True

The premise of buying identity theft protection that only provides credit report monitoring aligns with an understanding of the basic functions of identity theft protection services. Credit report monitoring can be a valuable tool in helping individuals keep track of any significant changes or unauthorized activities related to their credit report, such as new accounts being opened in their name or significant score changes. However, while credit report monitoring is a crucial component, relying solely on this feature may not be sufficient for comprehensive identity theft protection. Effective identity theft protection services typically include additional features such as identity restoration assistance, fraud alerts, and access to other financial accounts. These services go beyond just monitoring the credit report and provide support in managing and correcting any identity theft issues that arise. The consideration of purchasing identity theft protection that only offers credit report monitoring thus reflects a partial view of identity protection. It's essential to recognize that identity theft can occur in various forms, and comprehensive protection may require a broader scope of services. Therefore, while there is some merit to credit report monitoring, it ideally should be part of a more extensive package for optimal safety and security against identity theft.