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






3. 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






4. 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






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






6. 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






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. Food - transport - medical






9. 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






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






11. 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






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






13. 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






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






15. 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






16. 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






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






18. White hats are good. Black hats are bad






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






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

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






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






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






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






25. 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]






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






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






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






29. 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






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






31. 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.]






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






33. 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






34. 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






35. 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






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






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






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






40. 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






41. 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






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






43. 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






44. 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






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






46. 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






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






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






49. 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






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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