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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. 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






2. 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






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. 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






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






6. 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)






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






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






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






10. 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.]






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






12. 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






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






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






15. 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






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






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






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






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






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






21. Pilfering - Chiseling - Fraud - Embezzlement






22. 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






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






24. 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






25. Refers mainly to basic - bulky components and tools






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






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






28. 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






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






30. 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






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






32. 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]






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






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






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






36. 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






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






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. 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






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






41. 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






42. 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






43. 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






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






45. Food - transport - medical






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






47. 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






48. 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






49. 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 - [






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

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