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






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






4. Around $100000000000






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






6. 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.






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






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






9. 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






10. 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.






11. 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






12. 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






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






14. 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






15. 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






16. 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






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






18. 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.






19. Crime committed on behalf of an organization






20. Irvine. Miami






21. Crime committed on behalf of an organization






22. Corporations are the same as psychos

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






24. 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






25. 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 $






26. 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.






27. 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.






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






29. 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






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






31. Microcap stocks - that are often not required to file reports to the SEC






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






33. 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.






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






35. 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






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






37. 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






38. 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






39. Corporations are the same as psychos

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






41. 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






42. Microcap stocks - that are often not required to file reports to the SEC






43. Were doctors charge extra for one session - unnecessary charges - and billing without an actual visit






44. 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






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






46. A preacher who borrowed millions of the ministries dollars






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






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






49. 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.'






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