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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. 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
Nominee loans
Organizational crime
Corporate Fraud Bill of 2002
Multiple Employer Welfare Arrangements (MEWAs)
2. Microcap stocks - that are often not required to file reports to the SEC
Mafiaboy
White-collar crime
Nominee loans
Penny stocks
3. 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.
John Dean
ABSCAM
Medical abuse
Fiduciary fraud
4. Investment operation that pays returns to investors out of the money paid by susequent investors - rather than profit.
Ponzi scheme
Daisy chain
Insider trading
Keating Five
5. 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
Insider trading
Watergate
Occupational crime
Keating Five
6. An opthalmologist Who was convicted in 1984 for unnecessary eye surgeries
Health Maintenance Organization (HMO) characteristics
Oliver North
Telecommunications and traditional enforcement strategies
Jose Manaya
7. 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
Medicaid
Control fraud characteristics
Orange County bankruptcy
Corporate Fraud Bill of 2002
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
'Corporation' film
Health Maintenance Organization (HMO) characteristics
'Corporation' film
Money laundering
9. Around $100000000000
Medical fraud
Cost of S & L scandal
UCI fertility clinic case
Sarbanes-Oxley Act
10. Corporations are the same as psychos
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11. Keating's 2000-acre dream community - the single largest real estate venture of Lincoln
Charles Keating
Ed Gray
Estrella
Nominee loans
12. 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
Medical abuse
American Continental Corporation
Nominee loans
Occupational crime
13. Described as 'multiple employer trusts' or 'METs -' as vehicles for marketing health and welfare benefits to employers for their employees.
'Corporation' film
Jose Manaya
Telecommunications and traditional enforcement strategies
Multiple Employer Welfare Arrangements (MEWAs)
14. 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
Penny stocks
Oliver North
Cecil Jacobson
Iran-Contra Affair
15. Too much ownership or property - including intellectual property - creates gridlock that results in underutilization of property and stunting of innovation.
Linked financing
Penny stocks
John Dean
Technological gridlock
16. Described as 'multiple employer trusts' or 'METs -' as vehicles for marketing health and welfare benefits to employers for their employees.
Medicaid
Phoenician
Multiple Employer Welfare Arrangements (MEWAs)
Watergate
17. Company with held some side effects to meet regulation - which led to physical problems for thousands
Fiduciary fraud
Corporate Fraud Bill of 2002
Halcion
Land flips
18. Accepted money from Keating - one of the Keating 5
Japanese banking crisis/ characteristics
Rely tampons
Robert Citron
John McCain
19. Keating's 2000-acre dream community - the single largest real estate venture of Lincoln
Jimmy Swaggart
Will Black
Iran-Contra Affair
Estrella
20. An opthalmologist Who was convicted in 1984 for unnecessary eye surgeries
Will Black
Linked financing
Medical abuse
Jose Manaya
21. 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
Ivan Boesky
Phoenician
Daisy chain
Oliver North
22. 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
Medical fraud
Penny stocks
Sarbanes-Oxley Act
Insider trading
23. 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
Ponzi scheme
Major locations of S & L fraud
Medicaid
Oliver North
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
Will Black
Nominee loans
Insider trading
First Pension Corporation
25. 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.
Medical abuse
Oliver North
Sarbanes-Oxley Act
Money laundering
26. Microcap stocks - that are often not required to file reports to the SEC
Penny stocks
Enron
Computer crime - types
Halcion
27. A former fertility doctor who used his own sperm to impregnate his patients - without informing them.(1980s)
Money laundering
Insider trading
Cecil Jacobson
Jimmy Swaggart
28. 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.
Techniques of neutralization
Robert Citron
Orange County bankruptcy
Linked financing
29. Company with held some side effects to meet regulation - which led to physical problems for thousands
Keating Five
Ivan Boesky
Medicaid
Halcion
30. 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.
UCI fertility clinic case
Linked financing
Sarbanes-Oxley Act
Technological gridlock
31. Were doctors charge extra for one session - unnecessary charges - and billing without an actual visit
Medical abuse
Keating Five
Tightrope enforcement
Money laundering
32. 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
Ed Gray
Will Black
Orange County bankruptcy
Cost of S & L scandal
33. Was the largest pension scam in American history - Ponzi scheme
'Corporation' film
Estrella
First Pension Corporation
Reciprocal lending agreements
34. Investment operation that pays returns to investors out of the money paid by susequent investors - rather than profit.
Medical fraud
Health Maintenance Organization (HMO) characteristics
Payola
Ponzi scheme
35. 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.
John McCain
Watergate
Rely tampons
American Continental Corporation
36. 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
Jimmy Swaggart
Orange County bankruptcy
Alan Cranston
Cecil Jacobson
37. 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
Phoenician
Technological gridlock
Computer crime - types
38. Has to do with medical fraud
Halcion
Linked financing
Oliver North
Tightrope enforcement
39. 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.
Orange County bankruptcy
Estrella
Olga Romani
Will Black
40. 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
Land flips
Keating Five
Jimmy Swaggart
Blue Wall of Silence
41. Involves the stealing of company funds by top executives who often work in groups of two or more
Collective embezzlement
Phoenician
Phoenician
Telecommunications and traditional enforcement strategies
42. He was an investment broker who illegally manipulated the stock market and in the process redefined the crime of insider trading(1985)
Medical abuse
Insider trading
Ivan Boesky
Daisy chain
43. The secrecy of police officers who lie or look the other way to protect other police officers
Blue Wall of Silence
First Pension Corporation
Techniques of neutralization
Robert Citron
44. Around $100000000000
Keating Five
Mafiaboy
Olga Romani
Cost of S & L scandal
45. 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
Jose Manaya
Occupational crime
ABSCAM
Corporate Fraud Bill of 2002
46. Irvine. Miami
Fiduciary fraud
Multiple Employer Welfare Arrangements (MEWAs)
Major locations of S & L fraud
American Continental Corporation
47. 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
Will Black
Medical abuse
Reciprocal lending agreements
Iran-Contra Affair
48. 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
Cost of S & L scandal
Telecommunications and traditional enforcement strategies
Ponzi scheme
Enron
49. A term used to describe unproven or fraudulent medical practices
Medicaid
Medical fraud
Mafiaboy
Linked financing
50. Too much ownership or property - including intellectual property - creates gridlock that results in underutilization of property and stunting of innovation.
Keating Five
Technological gridlock
Robert Citron
Jimmy Swaggart