Test your basic knowledge |

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






2. 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






3. 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)






4. Refers mainly to basic - bulky components and tools






5. 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






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






7. 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






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






9. 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






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






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






13. White hats are good. Black hats are bad






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






15. 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






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






17. 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






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






19. 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]






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






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






22. 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






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






24. 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






25. 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






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






27. 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






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






29. Pilfering - Chiseling - Fraud - Embezzlement






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






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






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






34. 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






35. 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






36. 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






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






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






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






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






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






43. 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






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






45. 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






46. Food - transport - medical






47. 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






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






49. 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






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