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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. 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
Major locations of S & L fraud
Sarbanes-Oxley Act
White-collar crime
2. 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
Money laundering
Collective embezzlement
Linked financing
3. 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
Fiduciary fraud
Multiple Employer Welfare Arrangements (MEWAs)
Insider trading
Phoenician
4. 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
Olga Romani
Oliver North
Mafiaboy
Iran-Contra Affair
5. Company with held some side effects to meet regulation - which led to physical problems for thousands
Jose Manaya
Ponzi scheme
Charles Keating
Halcion
6. 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
White-collar crime
Keating Five
Daisy chain
Japanese banking crisis/ characteristics
7. Involves the stealing of company funds by top executives who often work in groups of two or more
Collective embezzlement
Hemlock - Michigan
Telecommunications and traditional enforcement strategies
Penny stocks
8. Around $100000000000
Payola
Japanese banking crisis/ characteristics
Cost of S & L scandal
Penny stocks
9. 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
Organizational crime
Occupational crime
Rely tampons
10. 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.
Insider trading
Telecommunications and traditional enforcement strategies
Hadacol
'Corporation' film
11. Has to do with medical fraud
Phoenician
American Continental Corporation
Japanese banking crisis/ characteristics
Tightrope enforcement
12. 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.
Insider trading
American Continental Corporation
Reciprocal lending agreements
Money laundering
13. Accepted money from Keating - one of the Keating 5
Penny stocks
Hemlock - Michigan
Multiple Employer Welfare Arrangements (MEWAs)
John McCain
14. 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
Corporate Fraud Bill of 2002
Alan Cranston
Fiduciary fraud
Health Maintenance Organization (HMO) characteristics
15. Microcap stocks - that are often not required to file reports to the SEC
Daisy chain
Will Black
Payola
Penny stocks
16. Was the largest pension scam in American history - Ponzi scheme
ABSCAM
First Pension Corporation
Cost of S & L scandal
Linked financing
17. Too much ownership or property - including intellectual property - creates gridlock that results in underutilization of property and stunting of innovation.
Technological gridlock
First Pension Corporation
Linked financing
Land flips
18. Trade jargon for bribes to promote certain records over the air
Mafiaboy
Occupational crime
Multiple Employer Welfare Arrangements (MEWAs)
Payola
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
Computer crime - types
Orange County bankruptcy
Ed Gray
Money laundering
20. Accepted money from Keating - one of the Keating 5
Jimmy Swaggart
Ed Gray
Olga Romani
John McCain
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.
Tightrope enforcement
Rely tampons
Japanese banking crisis/ characteristics
Orange County bankruptcy
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
Occupational crime
Technological gridlock
Nominee loans
Charles Keating
23. A preacher who borrowed millions of the ministries dollars
'Corporation' film
Jimmy Swaggart
'Corporation' film
Linked financing
24. 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
John McCain
Jose Manaya
Mafiaboy
Health Maintenance Organization (HMO) characteristics
25. The Keating Five were five United States Senators accused of corruption in 1989 - igniting a major political scandal as part of the larger Savings and Loan crisis of the late 1980s and early 1990s. The five senators - Alan Cranston (Democrat of Calif
Hadacol
Nominee loans
Phoenician
Keating Five
26. Irvine. Miami
Major locations of S & L fraud
Ponzi scheme
Hadacol
Medical abuse
27. 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.
Linked financing
American Continental Corporation
ABSCAM
Ed Gray
28. 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
Ponzi scheme
Phoenician
Collective embezzlement
Daisy chain
29. 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
Cost of S & L scandal
Rely tampons
Blue Wall of Silence
American Continental Corporation
30. 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
Estrella
Charles Keating
Oliver North
Blue Wall of Silence
31. Corporations are the same as psychos
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32. 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
Watergate
Charles Keating
Technological gridlock
White-collar crime
33. A preacher who borrowed millions of the ministries dollars
Payola
Jimmy Swaggart
Reciprocal lending agreements
Control fraud characteristics
34. Company with held some side effects to meet regulation - which led to physical problems for thousands
Charles Keating
Rely tampons
Enron
Halcion
35. 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
Blue Wall of Silence
Robert Citron
American Continental Corporation
Telecommunications and traditional enforcement strategies
36. 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.
Keating Five
UCI fertility clinic case
Tightrope enforcement
Land flips
37. Investment operation that pays returns to investors out of the money paid by susequent investors - rather than profit.
Ponzi scheme
Medical fraud
Halcion
Alan Cranston
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.
Fiduciary fraud
Telecommunications and traditional enforcement strategies
Medical abuse
Major locations of S & L fraud
39. Any act punishable by law that is committed through opportunity created in the course of an occupation that is legal
Fiduciary fraud
Linked financing
Occupational crime
American Continental Corporation
40. 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
Keating Five
Phoenician
Enron
Linked financing
41. (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
Orange County bankruptcy
Techniques of neutralization
Telecommunications and traditional enforcement strategies
Computer crime - types
42. 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
Rely tampons
Land flips
Medicaid
43. 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
Techniques of neutralization
Cecil Jacobson
Blue Wall of Silence
Corporate Fraud Bill of 2002
44. A term used to describe unproven or fraudulent medical practices
Linked financing
Medical fraud
Oliver North
Linked financing
45. 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
Payola
Ponzi scheme
Halcion
Nominee loans
46. A former fertility doctor who used his own sperm to impregnate his patients - without informing them.(1980s)
Cecil Jacobson
Charles Keating
Halcion
Multiple Employer Welfare Arrangements (MEWAs)
47. 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
Medical fraud
Occupational crime
Oliver North
Daisy chain
48. 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
Computer crime - types
Reciprocal lending agreements
Estrella
Sarbanes-Oxley Act
49. Involves the stealing of company funds by top executives who often work in groups of two or more
Collective embezzlement
Estrella
Linked financing
Olga Romani
50. 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.
Ed Gray
Will Black
John Dean
Iran-Contra Affair