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






2. 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






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






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






5. 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






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






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






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






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






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






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






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






13. 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)






14. 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






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






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






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






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






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


20. 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






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






22. 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






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






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






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






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






27. 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 - [






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






30. Pilfering - Chiseling - Fraud - Embezzlement






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






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






33. 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.






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






35. 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






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






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






38. 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






39. 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






40. 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






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






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






43. Refers mainly to basic - bulky components and tools






44. 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






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






46. 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






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






48. White hats are good. Black hats are bad






49. 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






50. 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]