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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. (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






2. Was the largest pension scam in American history - Ponzi scheme






3. Corporations are the same as psychos

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4. Keating's 2000-acre dream community - the single largest real estate venture of Lincoln






5. Keating's 2000-acre dream community - the single largest real estate venture of Lincoln






6. 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






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






8. 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






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






10. 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






11. 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






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






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






14. 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.






15. Trade jargon for bribes to promote certain records over the air






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






17. 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.






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






19. 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






20. 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






21. 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.'






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






23. 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






24. Explanations given by people as a way of rationalizing their deviant/criminal behavior






25. 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






26. 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






27. 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






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






29. 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.






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






31. 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






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






33. 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






34. 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.






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






36. 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.






37. 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






38. Crime committed on behalf of an organization






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






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






41. 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






42. 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






43. 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






44. Irvine. Miami






45. 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.'






46. Around $100000000000






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






48. Violations constitute a threat to the health of Americans and to the financial resources of the nation






49. 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






50. Corporations are the same as psychos

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