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White Collar Crime

Subjects : law, business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
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  • 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. 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






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






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






4. 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






5. 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






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






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






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






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






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






11. 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






12. 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






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






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






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






16. 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)






17. White hats are good. Black hats are bad






18. 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






19. 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






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






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






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






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






25. 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






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






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






28. 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






29. 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






30. 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






31. 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






32. 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






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






34. 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.






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






36. 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






37. Pilfering - Chiseling - Fraud - Embezzlement






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






39. 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






40. 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






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






42. 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 - [






43. 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






44. Refers mainly to basic - bulky components and tools






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






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






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






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






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






50. 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







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