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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 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.]






2. 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






3. 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






4. 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)






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






6. White hats are good. Black hats are bad






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






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






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






10. 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






11. 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






12. 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






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






14. 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






15. 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






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






17. 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






18. 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






19. 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






20. 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






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






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






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






24. 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






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






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






27. 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






28. 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






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






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






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


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






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






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






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






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






37. 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]






38. 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






39. 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 - [






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






41. 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






42. Refers mainly to basic - bulky components and tools






43. Pilfering - Chiseling - Fraud - Embezzlement






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






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






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






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






48. 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.






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






50. 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