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






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






3. 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






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






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






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






7. Refers mainly to basic - bulky components and tools






8. 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






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






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






11. White hats are good. Black hats are bad






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






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






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






15. Food - transport - medical






16. Pilfering - Chiseling - Fraud - Embezzlement






17. 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.]






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






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






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






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






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






24. 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






25. 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






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






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






28. 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






29. 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 - [






30. 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






31. 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






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






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






34. 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






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

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






37. 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.






38. 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)






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 a type of Employee Crime: known as petty theft






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






42. 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






43. 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






44. 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






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






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






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






48. 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






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






50. 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]