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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. Pilfering - Chiseling - Fraud - Embezzlement






2. Food - transport - medical






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






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






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






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






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






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






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






11. 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






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






13. 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.]






14. 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]






15. Refers mainly to basic - bulky components and tools






16. 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






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






18. 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)






19. 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 - [






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






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






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






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






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






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






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






28. 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






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






30. 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






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






32. 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






33. 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






34. 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






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






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. 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






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






39. 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






40. 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






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






42. 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






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






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






45. 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






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






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






48. 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






49. 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.






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