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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. 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
Phoenician
Insider trading
Charles Keating
Estrella
2. An opthalmologist Who was convicted in 1984 for unnecessary eye surgeries
Jose Manaya
Oliver North
Corporate Fraud Bill of 2002
Jimmy Swaggart
3. Accounting firms are now forbidden from offering consulting services to clients if it posses a conflict of interest - and for the first time an independent oversight board has been established to oversee the industry.Executives also would not be allo
Halcion
Control fraud characteristics
Nominee loans
Corporate Fraud Bill of 2002
4. 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.
Olga Romani
ABSCAM
Rely tampons
Estrella
5. Described as 'multiple employer trusts' or 'METs -' as vehicles for marketing health and welfare benefits to employers for their employees.
Payola
John McCain
Multiple Employer Welfare Arrangements (MEWAs)
Sarbanes-Oxley Act
6. (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
Computer crime - types
Techniques of neutralization
Estrella
UCI fertility clinic case
7. 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
Collective embezzlement
Alan Cranston
Daisy chain
Sarbanes-Oxley Act
8. Accepted money from Keating - one of the Keating 5
Occupational crime
Penny stocks
John McCain
Medical fraud
9. Too much ownership or property - including intellectual property - creates gridlock that results in underutilization of property and stunting of innovation.
Technological gridlock
ABSCAM
John Dean
Major locations of S & L fraud
10. May 1995 - with charges that its three internationally known doctors --Ricardo Asch - Jose Balmaceda and Sergio Stone -- had taken eggs from women without consent and implanted them as embryos in others.
UCI fertility clinic case
Control fraud characteristics
Reciprocal lending agreements
Techniques of neutralization
11. 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
Hadacol
Enron
Sarbanes-Oxley Act
Watergate
12. Crime committed on behalf of an organization
Oliver North
Organizational crime
White-collar crime
Orange County bankruptcy
13. Company with held some side effects to meet regulation - which led to physical problems for thousands
Halcion
Cost of S & L scandal
First Pension Corporation
John Dean
14. 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.
Money laundering
Insider trading
Occupational crime
Enron
15. Explanations given by people as a way of rationalizing their deviant/criminal behavior
Cecil Jacobson
Techniques of neutralization
Payola
Hemlock - Michigan
16. Any act punishable by law that is committed through opportunity created in the course of an occupation that is legal
Iran-Contra Affair
John McCain
Mafiaboy
Occupational crime
17. 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
Jimmy Swaggart
Health Maintenance Organization (HMO) characteristics
Ivan Boesky
Tightrope enforcement
18. Involved Dow chemicals which caused strange deformities to some living things in the area
Linked financing
Hemlock - Michigan
Money laundering
Mafiaboy
19. 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
Health Maintenance Organization (HMO) characteristics
Will Black
'Corporation' film
American Continental Corporation
20. Explanations given by people as a way of rationalizing their deviant/criminal behavior
Techniques of neutralization
Payola
American Continental Corporation
Fiduciary fraud
21. 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
Reciprocal lending agreements
Control fraud characteristics
ABSCAM
Insider trading
22. 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.
Olga Romani
Will Black
Fiduciary fraud
Hadacol
23. 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
Medicaid
Daisy chain
First Pension Corporation
Insider trading
24. 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.'
Hemlock - Michigan
Hadacol
Cecil Jacobson
Insider trading
25. (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
Computer crime - types
Watergate
Organizational crime
Land flips
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
Techniques of neutralization
ABSCAM
Keating Five
Daisy chain
27. 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
Money laundering
Alan Cranston
Charles Keating
Major locations of S & L fraud
28. 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
Olga Romani
Sarbanes-Oxley Act
Land flips
Payola
29. The secrecy of police officers who lie or look the other way to protect other police officers
Sarbanes-Oxley Act
Blue Wall of Silence
Fiduciary fraud
Japanese banking crisis/ characteristics
30. 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
Hemlock - Michigan
Watergate
Corporate Fraud Bill of 2002
Money laundering
31. Accepted money from Keating - one of the Keating 5
Estrella
Robert Citron
John McCain
Medicaid
32. 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.
First Pension Corporation
Mafiaboy
John Dean
Ed Gray
33. Microcap stocks - that are often not required to file reports to the SEC
Money laundering
Olga Romani
Penny stocks
Techniques of neutralization
34. Investment operation that pays returns to investors out of the money paid by susequent investors - rather than profit.
Tightrope enforcement
First Pension Corporation
Phoenician
Ponzi scheme
35. A term used to describe unproven or fraudulent medical practices
First Pension Corporation
Jimmy Swaggart
Medical fraud
Telecommunications and traditional enforcement strategies
36. Former 2nd largest Medicaid provider in Florida - Who was arrested later for billing for services that were never preformed
Olga Romani
First Pension Corporation
John Dean
John McCain
37. Trade jargon for bribes to promote certain records over the air
Payola
UCI fertility clinic case
Alan Cranston
Hemlock - Michigan
38. Accounting firms are now forbidden from offering consulting services to clients if it posses a conflict of interest - and for the first time an independent oversight board has been established to oversee the industry.Executives also would not be allo
Corporate Fraud Bill of 2002
Alan Cranston
Will Black
Iran-Contra Affair
39. Was the largest pension scam in American history - Ponzi scheme
Will Black
Medicaid
Japanese banking crisis/ characteristics
First Pension Corporation
40. 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 $
Daisy chain
Japanese banking crisis/ characteristics
Medical fraud
Major locations of S & L fraud
41. 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
Keating Five
Orange County bankruptcy
Mafiaboy
42. 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
Keating Five
Japanese banking crisis/ characteristics
Technological gridlock
Daisy chain
43. Orange County California became the largest municipality in U.S. history ever to file for bankruptcy. The financial difficulties leading to the bankruptcy were the direct result of an enormous gamble with public funds taken by a county treasurer Who
Penny stocks
Organizational crime
Orange County bankruptcy
Major locations of S & L fraud
44. 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
Jose Manaya
Phoenician
Japanese banking crisis/ characteristics
Rely tampons
45. Involved Dow chemicals which caused strange deformities to some living things in the area
Robert Citron
Hemlock - Michigan
Medicaid
Nominee loans
46. Irvine. Miami
'Corporation' film
Techniques of neutralization
Corporate Fraud Bill of 2002
Major locations of S & L fraud
47. Violations constitute a threat to the health of Americans and to the financial resources of the nation
Sarbanes-Oxley Act
Medicaid
American Continental Corporation
Cost of S & L scandal
48. A preacher who borrowed millions of the ministries dollars
Watergate
Reciprocal lending agreements
Nominee loans
Jimmy Swaggart
49. Irvine. Miami
Major locations of S & L fraud
Reciprocal lending agreements
Cost of S & L scandal
Oliver North
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
Land flips
'Corporation' film
Reciprocal lending agreements
Multiple Employer Welfare Arrangements (MEWAs)