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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. 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






2. 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.






3. 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






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






5. 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






6. 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






7. 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






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






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






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






11. 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






12. 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






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






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






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






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






17. 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






18. 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 - [






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






20. 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






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






22. Pilfering - Chiseling - Fraud - Embezzlement






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






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






26. 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






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






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






29. 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






30. Food - transport - medical






31. Refers mainly to basic - bulky components and tools






32. Activities deviating from norms of employers - professional associations - or coworkers within an occupational setting - such as malingering or sexual harassment






33. 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






34. 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






35. 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






36. 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






37. 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.]






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






40. 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]






41. 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






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


43. 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






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






45. White hats are good. Black hats are bad






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






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






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






49. 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)






50. 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