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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. 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






2. 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






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






4. 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






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






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






7. 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






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






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






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






11. 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






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






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






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






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






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






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






18. 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






19. 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






20. 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






21. 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






22. 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






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






24. 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






25. 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)






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






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






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






29. 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






30. 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






31. Refers mainly to basic - bulky components and tools






32. 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






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






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






35. 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






36. 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.






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






38. 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






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






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






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






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






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






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

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45. 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 - [






46. Food - transport - medical






47. 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]






48. 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






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






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







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