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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. 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






2. 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






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






4. 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






5. 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






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






7. Pilfering - Chiseling - Fraud - Embezzlement






8. 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]






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






10. 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






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






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






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






14. 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)






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






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






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






18. 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






19. White hats are good. Black hats are bad






20. 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






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






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






23. 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






24. 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






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






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






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






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






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






30. 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.






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






32. 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






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. 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






35. 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






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






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






38. 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






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






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






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






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

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43. 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 - [






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






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






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






47. 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






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






49. 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






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