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White Collar Crime Basics

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. Crime committed on behalf of an organization






2. 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






3. 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






4. 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.






5. Former 2nd largest Medicaid provider in Florida - Who was arrested later for billing for services that were never preformed






6. 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






7. Too much ownership or property - including intellectual property - creates gridlock that results in underutilization of property and stunting of innovation.






8. 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






9. (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






10. Chair of the Federal Home Loan Bank Board eared that the savings industry's risky investment practices were exposing the government's insurance funds to huge losses. for the keating 5






11. 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






12. An opthalmologist Who was convicted in 1984 for unnecessary eye surgeries






13. Corporations are the same as psychos

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14. Company with held some side effects to meet regulation - which led to physical problems for thousands






15. 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






16. Involved Dow chemicals which caused strange deformities to some living things in the area






17. 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






18. 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.






19. 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






20. 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






21. 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






22. He was an investment broker who illegally manipulated the stock market and in the process redefined the crime of insider trading(1985)






23. A term used to describe unproven or fraudulent medical practices






24. Any act punishable by law that is committed through opportunity created in the course of an occupation that is legal






25. 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






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






27. 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






28. 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






29. 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






30. A preacher who borrowed millions of the ministries dollars






31. 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






32. 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






33. Irvine. Miami






34. 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.






35. 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






36. (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






37. Accepted money from Keating - one of the Keating 5






38. 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.






39. Has to do with medical fraud






40. A former fertility doctor who used his own sperm to impregnate his patients - without informing them.(1980s)






41. Described as 'multiple employer trusts' or 'METs -' as vehicles for marketing health and welfare benefits to employers for their employees.






42. 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.






43. 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.






44. 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.






45. Around $100000000000






46. Accepted money from Keating - one of the Keating 5






47. The secrecy of police officers who lie or look the other way to protect other police officers






48. Investment operation that pays returns to investors out of the money paid by susequent investors - rather than profit.






49. 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






50. Involves the stealing of company funds by top executives who often work in groups of two or more