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Test your basic knowledge |
White Collar Crime Basics
Start Test
Study First
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. Former 2nd largest Medicaid provider in Florida - Who was arrested later for billing for services that were never preformed
Olga Romani
Occupational crime
Medicaid
Penny stocks
2. Investment operation that pays returns to investors out of the money paid by susequent investors - rather than profit.
Major locations of S & L fraud
Jose Manaya
Ponzi scheme
Computer crime - types
3. A brand of superabsorbent tampons made by Procter & Gamble starting in 1975. It was recalled from the market in September 1980 because it was linked to Toxic Shock Syndrome The recall cost Procter and Gamble over $75 million.
Rely tampons
Keating Five
Will Black
Ivan Boesky
4. An indictment was returned by a federal grand jury in New Jersey - charging Misulovin and 24 other individuals - 15 of whom were emigres from Eastern Europe - with conspiring to defraud the United States and the state of New Jersey of approximately $
'Corporation' film
Jimmy Swaggart
Fiduciary fraud
Daisy chain
5. In November 2001 Enron - the United States' seventh largest corporation - issued a statement drastically revising its stated profits over the past three years. Within a month - the company was forced to declare bankruptcy—the largest bankruptcy in bu
Control fraud characteristics
Enron
Tightrope enforcement
Payola
6. A treasurer-tax collector of the OC - who declared chapter 9 bankruptcy taxed and charged larged interest rates to save OC which left the OC nearly bankrupt
Will Black
Robert Citron
Land flips
Alan Cranston
7. Buying or selling corporate stock by a corporate officer or other insider on the basis of information that has not been made public and is supposed to remain confidential
Rely tampons
Insider trading
Jose Manaya
Enron
8. Defined by Edwin Sutherland as 'a crime committed by a person of respectability and high social status in the course of his occupation' White-collar crime therefore overlaps with corporate crime because the opportunity for fraud - bribery - insider t
Major locations of S & L fraud
White-collar crime
Hemlock - Michigan
Hemlock - Michigan
9. Buying or selling corporate stock by a corporate officer or other insider on the basis of information that has not been made public and is supposed to remain confidential
UCI fertility clinic case
John McCain
Computer crime - types
Insider trading
10. The secrecy of police officers who lie or look the other way to protect other police officers
Control fraud characteristics
Ed Gray
Sarbanes-Oxley Act
Blue Wall of Silence
11. Any act punishable by law that is committed through opportunity created in the course of an occupation that is legal
UCI fertility clinic case
Nominee loans
Major locations of S & L fraud
Occupational crime
12. Were doctors charge extra for one session - unnecessary charges - and billing without an actual visit
Will Black
Nominee loans
Medical abuse
Money laundering
13. Too much ownership or property - including intellectual property - creates gridlock that results in underutilization of property and stunting of innovation.
Cecil Jacobson
Health Maintenance Organization (HMO) characteristics
Technological gridlock
Keating Five
14. Exploiting control increases the 'take' from fraud; the need to maintain control causes the leaders to act like 'control freaks' over their citizens and employees; their ability to control their firms and nations makes it difficult to prosecute their
Ivan Boesky
Techniques of neutralization
Control fraud characteristics
First Pension Corporation
15. Was a real estate agency headed by Keating. Which later added on Lincoln Savings and Loan Association for $51 million - which left the company broke
ABSCAM
Money laundering
American Continental Corporation
Robert Citron
16. He accepted $1 million in campaign contributions from the Lincoln Savings head - Charles Keating. Keating had wanted federal regulators to stop 'hounding' his savings and loan association. The committee deemed his misconduct the worst among the Keati
Orange County bankruptcy
Alan Cranston
Payola
Techniques of neutralization
17. One of the chief figures in the Iran-Contra scandal was Marine Colonel Oliver North - an aide to the NSC. He admitted to covering up their actions - including shredding documents to destroy evidence. IMP. Although Reagan did approve the sale of arms
Oliver North
Payola
Phoenician
Mafiaboy
18. Exploiting control increases the 'take' from fraud; the need to maintain control causes the leaders to act like 'control freaks' over their citizens and employees; their ability to control their firms and nations makes it difficult to prosecute their
John Dean
Control fraud characteristics
Jimmy Swaggart
Watergate
19. Were doctors charge extra for one session - unnecessary charges - and billing without an actual visit
Medical abuse
American Continental Corporation
Techniques of neutralization
Charles Keating
20. A piece of property - usually commercial real estate - is sold back and forth between two or more partners - inflating the sales price each time and refinancing the property with each sale until the value has increased several times over
Medical fraud
Land flips
Iran-Contra Affair
John McCain
21. Keating's 2000-acre dream community - the single largest real estate venture of Lincoln
Rely tampons
Estrella
Medical abuse
Money laundering
22. Is a loan in the name of one party that is intended for use by another. A misapplication occurs when a financial institution insider uses his position to secure a nominee loan - either for himself or for another person - and the insider conceals his
Nominee loans
Estrella
Multiple Employer Welfare Arrangements (MEWAs)
Oliver North
23. Was a real estate agency headed by Keating. Which later added on Lincoln Savings and Loan Association for $51 million - which left the company broke
Medical abuse
Organizational crime
American Continental Corporation
Will Black
24. He was an investment broker who illegally manipulated the stock market and in the process redefined the crime of insider trading(1985)
Olga Romani
Ivan Boesky
Will Black
Daisy chain
25. Corporations are the same as psychos
26. Was a United States Federal Bureau of Investigation (FBI) sting operation run from the FBI's Hauppauge - Long Island - office in the late 1970s and early 1980s. The operation initially targeted trafficking in stolen property but was converted to a pu
Occupational crime
ABSCAM
Olga Romani
Insider trading
27. A preacher who borrowed millions of the ministries dollars
Jimmy Swaggart
Multiple Employer Welfare Arrangements (MEWAs)
Medical abuse
Phoenician
28. A piece of property - usually commercial real estate - is sold back and forth between two or more partners - inflating the sales price each time and refinancing the property with each sale until the value has increased several times over
Watergate
Ponzi scheme
Land flips
Corporate Fraud Bill of 2002
29. Trade jargon for bribes to promote certain records over the air
Mafiaboy
Nominee loans
Estrella
Payola
30. Are only one of many types of managed care arrangements. However - it is one of the oldest forms of managed care.more emphasis is placed on prevention and quality of care. There is also more opportunity to control health care costs in HMOs than in in
Enron
Health Maintenance Organization (HMO) characteristics
Iran-Contra Affair
Linked financing
31. Is the first major overhaul of telecommunications law in almost 62 years. The goal of this new law is to let anyone enter any communications business -- to let any communications business compete in any market against any other.
Organizational crime
Penny stocks
John Dean
Telecommunications and traditional enforcement strategies
32. Corporations are the same as psychos
33. A former fertility doctor who used his own sperm to impregnate his patients - without informing them.(1980s)
Medicaid
Iran-Contra Affair
Cecil Jacobson
Medicaid
34. Is the practice of engaging in financial transactions in order to conceal the identity - source - and/or destination of money - and is a main operation of the underground economy.
Nominee loans
Ivan Boesky
Charles Keating
Money laundering
35. A preacher who borrowed millions of the ministries dollars
Health Maintenance Organization (HMO) characteristics
Jimmy Swaggart
Multiple Employer Welfare Arrangements (MEWAs)
Charles Keating
36. A hotel -Oct. 1 - 1988 - Within five months the Federal Government found itself the unproud owner - keating - taking it over after Mr. Keating's Lincoln Savings and Loan and the parent company - the American Continental Corporation - declared bankrup
Phoenician
Payola
American Continental Corporation
Fiduciary fraud
37. Irvine. Miami
Land flips
Cost of S & L scandal
Major locations of S & L fraud
Keating Five
38. A former bank regulator who developed the concept of 'control fraud' - in which a business or national executive uses the entity he or she controls as a 'weapon' to commit fraud.
Enron
Will Black
Enron
Charles Keating
39. Was the Internet alias of Michael Calce - a high school student from the middle-class suburban area of the West Island in Montreal - Canada who launched a series of highly publicized denial-of-service attacks in February 2000 against large commercial
Orange County bankruptcy
First Pension Corporation
Technological gridlock
Mafiaboy
40. The Federal Trade Commission stated that the publicity behind the tonic was 'false - misleading and deceptive' in representing the nostrum as 'an effective treatment and cure for scores of ailments and diseases.'
Orange County bankruptcy
Corporate Fraud Bill of 2002
Rely tampons
Hadacol
41. The Federal Trade Commission stated that the publicity behind the tonic was 'false - misleading and deceptive' in representing the nostrum as 'an effective treatment and cure for scores of ailments and diseases.'
Nominee loans
Hadacol
Linked financing
Ed Gray
42. Is a loan in the name of one party that is intended for use by another. A misapplication occurs when a financial institution insider uses his position to secure a nominee loan - either for himself or for another person - and the insider conceals his
Ed Gray
Nominee loans
ABSCAM
Techniques of neutralization
43. Was the largest pension scam in American history - Ponzi scheme
First Pension Corporation
Corporate Fraud Bill of 2002
Iran-Contra Affair
Ed Gray
44. Around $100000000000
Payola
Halcion
Organizational crime
Cost of S & L scandal
45. He testified against Nixon as well as other cabinet members in the Watergate hearings. His testimony helped led to the removal of several White House officials and the resignation of Nixon. Before his testimony he had been a White House lawyer.
Penny stocks
Cost of S & L scandal
Fiduciary fraud
John Dean
46. 1972; Nixon feared loss so he approved the Commission to Re-Elect the President to spy on and espionage the Democrats. A security gaurd foiled an attempt to bug the Democratic National Committe Headquarters - exposing the scandal. Seemingly contained
Keating Five
Watergate
Technological gridlock
Halcion
47. Trade jargon for bribes to promote certain records over the air
'Corporation' film
John Dean
Payola
Will Black
48. Was a United States Federal Bureau of Investigation (FBI) sting operation run from the FBI's Hauppauge - Long Island - office in the late 1970s and early 1980s. The operation initially targeted trafficking in stolen property but was converted to a pu
Medicaid
Cecil Jacobson
Tightrope enforcement
ABSCAM
49. To carry out immediate capital injections to the US banks. when public opinion was very strongly against bailing out highly-paid bankers and irresponsible banks. Recall also that in 1992 - then-Prime Minister Miyazawa wanted to help the banking syste
Oliver North
Cecil Jacobson
Japanese banking crisis/ characteristics
Medicaid
50. Are similarly designed to evade restrictions on insider loans. these arrangements were used extensively in the mid-1980s by thrift officers and directors who - instead of making loans directly to themselves-which would have sounded the alarm among re
Tightrope enforcement
Reciprocal lending agreements
Jose Manaya
Ed Gray