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Test your basic knowledge |
White Collar Crime Basics
Start Test
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Subjects
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law
,
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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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. 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
Keating Five
ABSCAM
Payola
Enron
2. Was a political scandal in the United States which came to light in November 1986 - during the Reagan administration - in which senior US figures agreed to facilitate the sale of arms to Iran - the subject of an arms embargo - to secure the release o
Technological gridlock
Iran-Contra Affair
Alan Cranston
Cecil Jacobson
3. 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
Payola
Cost of S & L scandal
Health Maintenance Organization (HMO) characteristics
Orange County bankruptcy
4. A term used to describe unproven or fraudulent medical practices
Collective embezzlement
Olga Romani
Medical fraud
Jose Manaya
5. A preacher who borrowed millions of the ministries dollars
Jimmy Swaggart
John Dean
Keating Five
Technological gridlock
6. Corporations are the same as psychos
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7. Were doctors charge extra for one session - unnecessary charges - and billing without an actual visit
Rely tampons
Major locations of S & L fraud
Medicaid
Medical abuse
8. Involves the stealing of company funds by top executives who often work in groups of two or more
Collective embezzlement
Telecommunications and traditional enforcement strategies
Fiduciary fraud
Organizational crime
9. Crime committed on behalf of an organization
Hemlock - Michigan
Organizational crime
Ed Gray
John Dean
10. Trade jargon for bribes to promote certain records over the air
Iran-Contra Affair
Ponzi scheme
Payola
'Corporation' film
11. 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
Control fraud characteristics
Penny stocks
Health Maintenance Organization (HMO) characteristics
Occupational crime
12. 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
Iran-Contra Affair
Estrella
Cost of S & L scandal
Enron
13. 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
Occupational crime
Mafiaboy
Telecommunications and traditional enforcement strategies
Charles Keating
14. Is a legal fiction used in the law to describe a situation where a person or entity gained an unfair advantage over another by deceitful - or unfair - methods.
Medical fraud
Fiduciary fraud
Hemlock - Michigan
Collective embezzlement
15. 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.'
Occupational crime
Hadacol
'Corporation' film
Land flips
16. 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.
Oliver North
Daisy chain
Phoenician
Money laundering
17. Explanations given by people as a way of rationalizing their deviant/criminal behavior
Penny stocks
Techniques of neutralization
Olga Romani
Watergate
18. 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
Olga Romani
Robert Citron
Japanese banking crisis/ characteristics
Payola
19. 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
Land flips
White-collar crime
Computer crime - types
Major locations of S & L fraud
20. Is a legal fiction used in the law to describe a situation where a person or entity gained an unfair advantage over another by deceitful - or unfair - methods.
Occupational crime
Corporate Fraud Bill of 2002
Land flips
Fiduciary fraud
21. 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.
Alan Cranston
Tightrope enforcement
Watergate
Rely tampons
22. Accepted money from Keating - one of the Keating 5
Iran-Contra Affair
John McCain
Estrella
Rely tampons
23. Around $100000000000
Land flips
Linked financing
American Continental Corporation
Cost of S & L scandal
24. Involved Dow chemicals which caused strange deformities to some living things in the area
Alan Cranston
Hadacol
Hemlock - Michigan
Collective embezzlement
25. He was an investment broker who illegally manipulated the stock market and in the process redefined the crime of insider trading(1985)
Ivan Boesky
Corporate Fraud Bill of 2002
American Continental Corporation
Computer crime - types
26. 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
Hadacol
Tightrope enforcement
American Continental Corporation
Iran-Contra Affair
27. In the 1980s - he ran American Continental Corporation and the Lincoln Savings and Loan Association - and took advantage of loosened restrictions on banking investments. and 5 US senators known as the Keating 5
'Corporation' film
Charles Keating
Technological gridlock
Major locations of S & L fraud
28. 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
Robert Citron
Occupational crime
Halcion
Sarbanes-Oxley Act
29. (1) electronic embezzlement and financial fraud; (2) computer hacking ; (3) malicious sabotage - including the creation - installation - or dissemination of computer viruses; (4) Internet scams; (5) utilization of computers and computer networks for
Phoenician
Japanese banking crisis/ characteristics
Computer crime - types
Insider trading
30. An opthalmologist Who was convicted in 1984 for unnecessary eye surgeries
Cost of S & L scandal
Medical abuse
Jose Manaya
Iran-Contra Affair
31. 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
Robert Citron
Control fraud characteristics
Telecommunications and traditional enforcement strategies
Fiduciary fraud
32. 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
Insider trading
UCI fertility clinic case
John McCain
Computer crime - types
33. Microcap stocks - that are often not required to file reports to the SEC
John Dean
Will Black
Penny stocks
'Corporation' film
34. Keating's 2000-acre dream community - the single largest real estate venture of Lincoln
Estrella
Blue Wall of Silence
Linked financing
Blue Wall of Silence
35. 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.
John Dean
Land flips
Oliver North
Occupational crime
36. Is a United States federal law enacted on July 30 - 2002 - as a reaction to a number of major corporate and accounting scandals including those affecting Enron - Tyco International - Adelphia - Peregrine Systems and WorldCom. These scandals - which c
Charles Keating
Medical abuse
Phoenician
Sarbanes-Oxley Act
37. The secrecy of police officers who lie or look the other way to protect other police officers
Telecommunications and traditional enforcement strategies
Watergate
Blue Wall of Silence
White-collar crime
38. 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
Daisy chain
Rely tampons
Tightrope enforcement
Insider trading
39. Crime committed on behalf of an organization
Hemlock - Michigan
Nominee loans
Reciprocal lending agreements
Organizational crime
40. Arrangement between a depositor and a bank (or other financial institution) under which the bank extends loan(s) to a certain borrower. The extent of the loan amount depends on the amount of credit balance maintained in the depositor's account.
Oliver North
Linked financing
White-collar crime
Rely tampons
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.'
Estrella
Corporate Fraud Bill of 2002
Hadacol
Jose Manaya
42. 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
Reciprocal lending agreements
Organizational crime
Ivan Boesky
Payola
43. Microcap stocks - that are often not required to file reports to the SEC
Medical abuse
John Dean
Charles Keating
Penny stocks
44. Was a political scandal in the United States which came to light in November 1986 - during the Reagan administration - in which senior US figures agreed to facilitate the sale of arms to Iran - the subject of an arms embargo - to secure the release o
Iran-Contra Affair
Linked financing
Halcion
Linked financing
45. Company with held some side effects to meet regulation - which led to physical problems for thousands
Halcion
Computer crime - types
Watergate
Blue Wall of Silence
46. Investment operation that pays returns to investors out of the money paid by susequent investors - rather than profit.
Money laundering
Ponzi scheme
Reciprocal lending agreements
Computer crime - types
47. Violations constitute a threat to the health of Americans and to the financial resources of the nation
Medicaid
Control fraud characteristics
Payola
Hadacol
48. Investment operation that pays returns to investors out of the money paid by susequent investors - rather than profit.
Corporate Fraud Bill of 2002
Ponzi scheme
Alan Cranston
White-collar crime
49. Described as 'multiple employer trusts' or 'METs -' as vehicles for marketing health and welfare benefits to employers for their employees.
Linked financing
Ed Gray
Multiple Employer Welfare Arrangements (MEWAs)
Watergate
50. 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
Linked financing
Will Black
Nominee loans
Land flips
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