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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. Pilfering - Chiseling - Fraud - Embezzlement






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






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






4. 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.]






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






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






7. 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 - [






8. 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






9. 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






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






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






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






13. 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






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






15. 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






16. 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






17. 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






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






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






20. 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






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






22. 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






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






24. 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






25. Its when a corporation commits criminal offences that are non-violence but have vast political and economic consequences. Sutherland






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






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






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






29. Refers mainly to basic - bulky components and tools






30. 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






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






32. 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






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






34. 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.






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






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






37. 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






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






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






40. Galleon Hedge Fund Case was one of the largest hedge funds in the world managing over $7 Billion. - Believed to have obtained inside information from a number of companies - Advanced Micro Devices Inc. - Goldman Sachs Group - Intel Corporation - Raj






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






42. 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






43. 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






44. 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






45. 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






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






48. 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






49. White hats are good. Black hats are bad






50. Food - transport - medical