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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. Involves the stealing of company funds by top executives who often work in groups of two or more
Enron
Alan Cranston
Penny stocks
Collective embezzlement
2. Trade jargon for bribes to promote certain records over the air
Halcion
Occupational crime
Collective embezzlement
Payola
3. Investment operation that pays returns to investors out of the money paid by susequent investors - rather than profit.
Ponzi scheme
Ivan Boesky
Collective embezzlement
Health Maintenance Organization (HMO) characteristics
4. A term used to describe unproven or fraudulent medical practices
Ed Gray
Medical fraud
Ponzi scheme
Medicaid
5. 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
Insider trading
Ivan Boesky
Iran-Contra Affair
6. 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
Land flips
Alan Cranston
Halcion
Keating Five
7. A preacher who borrowed millions of the ministries dollars
Multiple Employer Welfare Arrangements (MEWAs)
Alan Cranston
Jimmy Swaggart
Occupational crime
8. A term used to describe unproven or fraudulent medical practices
Mafiaboy
Ed Gray
Medical fraud
Estrella
9. Any act punishable by law that is committed through opportunity created in the course of an occupation that is legal
Technological gridlock
American Continental Corporation
Alan Cranston
Occupational crime
10. 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.
Iran-Contra Affair
American Continental Corporation
Rely tampons
Ivan Boesky
11. 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
Land flips
John McCain
Robert Citron
Hemlock - Michigan
12. 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
Techniques of neutralization
Computer crime - types
Alan Cranston
Medical abuse
13. Trade jargon for bribes to promote certain records over the air
Medicaid
Linked financing
Orange County bankruptcy
Payola
14. 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
Keating Five
Ed Gray
Japanese banking crisis/ characteristics
Jose Manaya
15. Crime committed on behalf of an organization
Nominee loans
Organizational crime
Payola
Nominee loans
16. 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.'
American Continental Corporation
Linked financing
Hadacol
Telecommunications and traditional enforcement strategies
17. 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
Medical abuse
Land flips
Tightrope enforcement
Ponzi scheme
18. 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
John Dean
Orange County bankruptcy
Land flips
Blue Wall of Silence
19. Violations constitute a threat to the health of Americans and to the financial resources of the nation
Medicaid
Hemlock - Michigan
First Pension Corporation
Medical abuse
20. Involved Dow chemicals which caused strange deformities to some living things in the area
Halcion
Watergate
Sarbanes-Oxley Act
Hemlock - Michigan
21. 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
Keating Five
John Dean
Robert Citron
Technological gridlock
22. 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
Alan Cranston
Charles Keating
Medicaid
Estrella
23. 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
Penny stocks
ABSCAM
Japanese banking crisis/ characteristics
Charles Keating
24. 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.
Medical abuse
Insider trading
Phoenician
UCI fertility clinic case
25. Violations constitute a threat to the health of Americans and to the financial resources of the nation
Health Maintenance Organization (HMO) characteristics
ABSCAM
White-collar crime
Medicaid
26. 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
Nominee loans
Reciprocal lending agreements
White-collar crime
Jimmy Swaggart
27. 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 $
Collective embezzlement
Blue Wall of Silence
Daisy chain
Multiple Employer Welfare Arrangements (MEWAs)
28. 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
Oliver North
First Pension Corporation
Reciprocal lending agreements
Ponzi scheme
29. 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.
American Continental Corporation
American Continental Corporation
Multiple Employer Welfare Arrangements (MEWAs)
Money laundering
30. 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
Major locations of S & L fraud
Payola
Ed Gray
Jimmy Swaggart
31. 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.
Halcion
Sarbanes-Oxley Act
Ponzi scheme
UCI fertility clinic case
32. 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.
Sarbanes-Oxley Act
Will Black
Money laundering
First Pension Corporation
33. 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
Daisy chain
Enron
Fiduciary fraud
Payola
34. Company with held some side effects to meet regulation - which led to physical problems for thousands
Halcion
Keating Five
Penny stocks
Money laundering
35. Has to do with medical fraud
American Continental Corporation
Medical abuse
Japanese banking crisis/ characteristics
Tightrope enforcement
36. 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
ABSCAM
Payola
'Corporation' film
Japanese banking crisis/ characteristics
37. 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
Watergate
Money laundering
ABSCAM
White-collar crime
38. 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.
Robert Citron
Will Black
Fiduciary fraud
Land flips
39. 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.
John McCain
Linked financing
Hemlock - Michigan
Olga Romani
40. 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
American Continental Corporation
Estrella
Insider trading
Control fraud characteristics
41. 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
Medical abuse
Orange County bankruptcy
Estrella
Will Black
42. 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.
Technological gridlock
Will Black
John McCain
UCI fertility clinic case
43. 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
Health Maintenance Organization (HMO) characteristics
Robert Citron
Halcion
American Continental Corporation
44. (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
Medicaid
Computer crime - types
Watergate
Keating Five
45. 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
Medical fraud
Collective embezzlement
Alan Cranston
Japanese banking crisis/ characteristics
46. Were doctors charge extra for one session - unnecessary charges - and billing without an actual visit
Medical abuse
Computer crime - types
White-collar crime
ABSCAM
47. 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.
Multiple Employer Welfare Arrangements (MEWAs)
UCI fertility clinic case
Organizational crime
Fiduciary fraud
48. 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
'Corporation' film
Phoenician
Olga Romani
Medical abuse
49. Corporations are the same as psychos
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50. A former fertility doctor who used his own sperm to impregnate his patients - without informing them.(1980s)
Telecommunications and traditional enforcement strategies
Cecil Jacobson
Techniques of neutralization
Tightrope enforcement