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






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






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






5. 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






6. 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






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. 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






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






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






11. 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






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






13. 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






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






15. 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






16. 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






17. 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






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






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






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






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






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






23. 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






24. Refers mainly to basic - bulky components and tools






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

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26. 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






27. 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






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






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






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






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






32. Pilfering - Chiseling - Fraud - Embezzlement






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






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






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






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. 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






38. 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






39. 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 - [






40. 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






41. 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






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






43. 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






44. 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






45. 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






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






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






48. 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






49. 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






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







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