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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. 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






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






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






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






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






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






7. 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






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






9. 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






10. 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






11. 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






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






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






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






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






16. 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






17. Food - transport - medical






18. Pilfering - Chiseling - Fraud - Embezzlement






19. White hats are good. Black hats are bad






20. 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






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






22. 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)






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






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






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






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






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






29. 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






30. 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






31. 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






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






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






36. 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]






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






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






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






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






41. 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.]






42. 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






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






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

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45. 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






46. 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.






47. 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






48. 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






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






50. 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