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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. 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






2. 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






3. Food - transport - medical






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






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






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






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






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






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






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






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






12. 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)






13. 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]






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






15. 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






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






17. Refers mainly to basic - bulky components and tools






18. 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






19. 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






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






21. 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






22. 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






23. Pilfering - Chiseling - Fraud - Embezzlement






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






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. 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






27. 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






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






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






30. 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 - [






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






32. 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






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






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






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

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






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






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






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






40. 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.






41. 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






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






43. 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






44. 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






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






46. 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






47. 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






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






49. 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.]






50. 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