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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 lawyers engaging in criminal conduct in the course of discharging their professional duties






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






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






4. 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






5. 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]






6. 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






7. 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






8. 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






9. 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






10. 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






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






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






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






14. 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






15. Was perhaps the single most famous example of a corporation that ruthlessly undercut virtually all competitors]






16. 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






17. 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






18. 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






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






20. 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






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






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






23. 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






24. 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






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






26. 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






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






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






29. Pilfering - Chiseling - Fraud - Embezzlement






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






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






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






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






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

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






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






37. 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






38. For lying about a stock sale conspiracy - and obstruction of justice.






39. 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






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






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






42. White hats are good. Black hats are bad






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






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






46. 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.]






47. 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






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






49. Food - transport - medical






50. Refers mainly to basic - bulky components and tools