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






2. 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






3. 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






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






5. 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.]






6. 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






7. A producer of asbestos products which was later found linked to an ultimately fatal lung disease resulting from exposure to asbestos. Manville had internal medical reports of asbestosis among its workers; however - based on cost-benefit analysis - it






8. Refers mainly to basic - bulky components and tools






9. 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






10. Refers to illegal activity that occurs in the world of finance and financial institutions






11. At one point the most-wanted computer criminal in the U.S. and was convicted of various computer and communications related crimes






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






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






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






15. Cheating employees out of overtime pay (Wal-Mart) - Denying workers their pensions (Police Agency) - and Extortion (falsely accusing employees of theft to comp their pay






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






17. 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 - [






18. 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






19. 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.






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






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






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






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






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






25. 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






26. Refers to plagiarism - embezzlement of university discretionary funds - forgery - claims about credentials






27. Pilfering - Chiseling - Fraud - Embezzlement






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






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






30. The Hooker Chemical Corporation bought the canal; drained it - and began dumping metal drums filled with highly toxic chemical wastes. Eventually the property was acquired by a local school board - and both a school and residential neighborhood were






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






32. White hats are good. Black hats are bad






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






34. 1. It is indirect in the sense that victims are not assaulted by another person 2. The effects of corporate violence are removed in time from the action that caused the harm 3. Involves a large number of individuals acting collectively - which causes






35. Food - transport - medical






36. 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






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






38. 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






39. Refers to buying or selling a security - in breach of a fiduciary duty or other relationships of trust and confidence - while in possession of nonpublic information about the security






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






41. 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






42. Goods and supplies that are delivered and paid for but cannot be accounted for by sales or stockroom surveys [because the items disappeared]






43. 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






44. Fixed prices or parallel pricing is when the leaders in the industry set inflated prices and supposed competitors adjust their own prices accordingly. Explicit price fixing was prohibited by the Sherman Antitrust Act of 1890 as a form of 'restraint t






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






46. 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






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






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






49. 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






50. Karl Marx recognized dark side to most corporations. Marx regarded corporations as a capitalist system that exploits and dehumanizes workers and deprives them of a fair return on their labor. The pursuit of profit is the principle rational for the co