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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 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






2. 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]






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






4. 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






5. Refers mainly to basic - bulky components and tools






6. 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






7. 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






8. 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






9. 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






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






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






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






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






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






15. 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.






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






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






18. 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






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






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






21. 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 - [






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






23. 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






24. 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






25. 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






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






27. 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






28. Food - transport - medical






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






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






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






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






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






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


36. Pilfering - Chiseling - Fraud - Embezzlement






37. 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






38. White hats are good. Black hats are bad






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






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






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






42. 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






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






44. 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






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






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






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






48. 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






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






50. 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