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White Collar Crime

Subjects : law, business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Refers to illegal activity that occurs in the world of finance and financial institutions






2. Hospitals have defraud the government of billions of dollars annually through Medicaid and Medicare. [upcoding - service never performed - kickbacks - and self-referrals]






3. Refers to lawyers engaging in criminal conduct in the course of discharging their professional duties






4. Bankruptcy method used to avoid meeting certain burdensome finical obligations - including obligations to creditors






5. 1980s dubbed as the 'biggest bank robbery' ever - S&Ls offered unrealistically high interest rates to attract large sums of money - money invested was then lent to developers engaged in highly speculative (risky) projects; which bound to go broke unl






6. Kenneth Lay - Jeffery Skilling - Andy Fastile - Luis Barget

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7. Refers to a type of Employee Crime: known as theft through misrepresentation






8. An intrauterine birth control device in the 1960's in which it was discovered that bacteria was traveling up the wick of the device into the womb.






9. The Madoff ponzi scheme was surely the largest in history to date [Started in the 1990s and defrauded thousands of investors of recorded $65 Billion]






10. Refers mainly to small - inexpensive - and expendable components and tools such as nails - bolts - scrap metals - pliers - and drill bits.






11. A situation in which the interests of a person whom serves in their professional role conflict with that person's own private interests as an individual






12. Refers to a type of Employee Crime: known as cheating or swindling






13. Directing patients to the clinic's pharmacy to fill unneeded prescriptions






14. Refers to illegal activity that occurs in the world of finance and financial institutions [Can be committed to benefit financial institutions - such as banks - or for the benefit of individuals - such as investment bankers.]






15. Corporations operating in third-world countries include highly hazardous and dangerous working conditions at industrial facilities; exportation of unsafe products






16. Is the act of manipulating people into performing actions or divulging confidential information - rather than by breaking in or using technical cracking techniques






17. Send you to a different place when they could have diagnosed it themselves






18. Stock price dropped dramatically after drug was not approved by the FDA.






19. A type of Employee Crime: the destruction or fraudulent appropriation of another's money which has been entrusted to one's care






20. Billing for unnecessary tests and services - is the most common form of medical fraud and it is extremely difficult to prove and prosecute






21. Internal computer crimes (sabotaging programs) - Telecommunications crimes (hacking) - Computer manipulation crimes (embezzlements and fraud) - Computers in support of criminal enterprises - Hardware / software thefts (corporate level mainly)






22. A case in which the Ford company placed the gas tank in the rear of the car to save money on engineering costs. When the car was involved in rear-end collisions the gas tank exploded - burning some people to death






23. Gaining unauthorized access to computer system - file or network by using their specialized knowledge of computers






24. In the Anglo-American tradition - the earliest corporations were churches - towns - guilds and universities - 'town saloon'. Over time - these corporations were recognized as trusts with legal control over certain property. These trading corporations






25. High returns are promised - Some early investors may receive payoffs - but most of the invested money is spent by the perpetrators






26. 1/3 of the us adult population has been victimized by some form of consumer fraud - Estimated costs over $100 billion annually - Major causes of this large degree of victimization - Advances in technology (faceless perceptions and victims) - Globaliz






27. They are the top people in the corporate world - government - and military whom have 'interlocks' - or a complex network of ties - that enable them to advance their interrelated interests and move quite easily between high-level private- and public-s






28. A Corporation that ruthlessly undercut virtually all competitors in order to obtain control 95% of the market.






29. Corporate Officials - Directors and Mangers - Outsiders who are 'tipped' [CEO tips family members - 'it going to be a bad month'] - Bankers - accountants and lawyers who provide services with confidential information about securities being traded - [






30. The corporate empires of the robber barons (for example: Rockefeller - Carnegie - Vanderbilt - Gould - and Frick) of the second half of the 19th century were involved in every manner of bribery - fraud - stock manipulation - predation against competi






31. Decreasing the number of high-wage union jobs - reducing wages of US workers - hiring illegal immigrants and the use of offshore plants for cheap workers






32. Let the buyer beware - has traditionally regulated the relationship between buyers and sellers






33. Major corporations cost US taxpayers huge amounts by evading their fair share of the tax burden






34. Manipulation of products - Short weighing - Bait-and-switch - Collection of taxes on nontaxable items [auto shop labor] - Wage theft






35. Your whole family should come in for something that's not that serious]






36. Pilfering - Chiseling - Fraud - Embezzlement






37. Crime that is defined as illegal or harmful conduct committed specifically in the context of their religious entity such as a religious leader may generate a bottomless donation basket for gullible believers to offer money which is used for corrupt p






38. Refers to a type of Employee Crime: known as petty theft






39. Corporations used to annihilate their competitors by undercutting their price and by pressuring dealers - sales agents - unions - and other parties not to work with their competitors






40. Refers to monogrammed clothing - wallets - jewelry - personally modified tools






41. To conceal their own errors [make it look like it was the manager's fault] - To gain time off - For more pay [brake a system so they can charge to fix it] - To express their contempt and anger with their work and employer






42. Activities deviating from norms of employers - professional associations - or coworkers within an occupational setting - such as malingering or sexual harassment






43. Corporations with contracts to provide goods and services to the government. [Halliburton no-bid contracts]






44. Price gouging or systematic overcharging - have also been directed at various industries and corporations when they take advantage of especially vulnerable classes of consumers or circumstances such as shortages. Many states prohibit price gouging by






45. Pyramid Scheme (has product) - A variant of a Ponzi Scheme - Involves recruiting other people into the business in other to sustain profit rather them a truly profitable enterprise [MonVie Acai Berry juice






46. Large corporations taking advantage of political corruption - the absence or paucity of regulatory controls - and the desperation for economic enterprise characteristic of many developing nations






47. 'offenses committed by either corporate officials or the corporation itself - which benefit their corporation'






48. Ponzi Schemes has (no a product) - While a Pyramid Scheme (has a product






49. Corporations are increasingly controlled by paper entrepreneurs - or investors who are principally concerned with short-term profit. These investors are far less likely to be strongly committed to product development of to the local communities in wh






50. White hats are good. Black hats are bad