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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. 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






3. Pilfering - Chiseling - Fraud - Embezzlement






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






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






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






7. 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






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






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






10. 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






11. 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]






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






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






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






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






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






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






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






19. 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.]






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






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






22. 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






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






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






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






26. 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)






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






28. 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






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






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






31. 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






32. 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






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






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






35. Food - transport - medical






36. 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






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






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






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






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






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






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

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43. 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






44. 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






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






46. 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






47. White hats are good. Black hats are bad






48. 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






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






50. 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