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






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






3. White hats are good. Black hats are bad






4. 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






5. 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






6. 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






7. 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






8. 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






9. Refers mainly to basic - bulky components and tools






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






11. 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






12. 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






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






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






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






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






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






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






19. 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






20. 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






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






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






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






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






25. 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]






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






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






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






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






30. Pilfering - Chiseling - Fraud - Embezzlement






31. 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






32. 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






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






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






35. 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






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






37. 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






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






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






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






42. Cheating employees out of overtime pay (Wal-Mart) - Denying workers their pensions (Police Agency) - and Extortion (falsely accusing employees of theft to comp their pay






43. Food - transport - medical






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






45. 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






46. 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






47. 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






48. 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.]






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






50. 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