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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 a type of Employee Crime: known as petty theft






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






3. 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






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






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






6. 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






7. 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.]






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






9. White hats are good. Black hats are bad






10. 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






11. 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






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






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






14. 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






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






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






17. Food - transport - medical






18. 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






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






20. 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]






21. 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






22. Refers mainly to basic - bulky components and tools






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






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






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






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






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






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






29. 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






30. 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






31. 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






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






33. 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






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

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35. 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.






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






37. Pilfering - Chiseling - Fraud - Embezzlement






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






39. 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






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






41. 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






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






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. 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






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






47. 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)






48. 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






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






50. 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 - [