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






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






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






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






5. 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






6. Refers mainly to basic - bulky components and tools






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






8. 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)






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






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






11. 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






12. 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






13. 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






14. White hats are good. Black hats are bad






15. 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.]






16. 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






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






18. 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






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






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






21. 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 - [






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

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






24. Pilfering - Chiseling - Fraud - Embezzlement






25. 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






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. 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






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






29. Food - transport - medical






30. 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






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






32. 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






33. 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






34. 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]






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






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






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






38. 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






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






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






41. 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.






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






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






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






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






46. 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






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






48. 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






49. 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






50. 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