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White Collar Crime

Subjects : law, business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
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  • 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. A type of Employee Crime: the destruction or fraudulent appropriation of another's money which has been entrusted to one's care






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






3. 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.






4. 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






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






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






7. 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






8. 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






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






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






11. 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






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. 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]






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






15. 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






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

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






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






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






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






21. 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






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






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






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






25. Pilfering - Chiseling - Fraud - Embezzlement






26. White hats are good. Black hats are bad






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






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






29. 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






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






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






32. 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






33. 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






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






35. 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






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






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






38. 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






39. 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)






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






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






42. 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






43. 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






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






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






46. 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






47. 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






48. 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






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






50. 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







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