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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. Involved Dow chemicals which caused strange deformities to some living things in the area
Orange County bankruptcy
Jimmy Swaggart
Hemlock - Michigan
'Corporation' film
2. 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.
Ivan Boesky
John Dean
Multiple Employer Welfare Arrangements (MEWAs)
UCI fertility clinic case
3. Involves the stealing of company funds by top executives who often work in groups of two or more
Land flips
Control fraud characteristics
Collective embezzlement
Mafiaboy
4. (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
Computer crime - types
Will Black
Enron
Watergate
5. 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
Jimmy Swaggart
Nominee loans
Health Maintenance Organization (HMO) characteristics
Will Black
6. 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.'
'Corporation' film
Collective embezzlement
Hadacol
Japanese banking crisis/ characteristics
7. 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
First Pension Corporation
Ivan Boesky
Daisy chain
8. 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
Alan Cranston
Estrella
Land flips
Phoenician
9. 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
American Continental Corporation
Keating Five
Oliver North
Payola
10. Crime committed on behalf of an organization
Major locations of S & L fraud
Alan Cranston
Major locations of S & L fraud
Organizational crime
11. Corporations are the same as psychos
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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
Oliver North
Hemlock - Michigan
Medicaid
American Continental Corporation
13. 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.
Hemlock - Michigan
John Dean
Orange County bankruptcy
Occupational crime
14. 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
Olga Romani
Hemlock - Michigan
Occupational crime
15. 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
Reciprocal lending agreements
Money laundering
John Dean
16. Described as 'multiple employer trusts' or 'METs -' as vehicles for marketing health and welfare benefits to employers for their employees.
Multiple Employer Welfare Arrangements (MEWAs)
Jimmy Swaggart
Will Black
Major locations of S & L fraud
17. 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
Blue Wall of Silence
Insider trading
Mafiaboy
Medical abuse
18. 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
Enron
Iran-Contra Affair
ABSCAM
Multiple Employer Welfare Arrangements (MEWAs)
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
Charles Keating
Iran-Contra Affair
Oliver North
White-collar crime
20. 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
Hadacol
Robert Citron
Penny stocks
Cecil Jacobson
21. A term used to describe unproven or fraudulent medical practices
Will Black
Medical fraud
John McCain
Ponzi scheme
22. Were doctors charge extra for one session - unnecessary charges - and billing without an actual visit
John McCain
Robert Citron
Medical abuse
Will Black
23. 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
Phoenician
John Dean
Control fraud characteristics
Ivan Boesky
24. Was the largest pension scam in American history - Ponzi scheme
Medical fraud
Jimmy Swaggart
White-collar crime
First Pension Corporation
25. Irvine. Miami
Computer crime - types
Watergate
Major locations of S & L fraud
Multiple Employer Welfare Arrangements (MEWAs)
26. Accepted money from Keating - one of the Keating 5
Hemlock - Michigan
Money laundering
Medical abuse
John McCain
27. 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.
Alan Cranston
Watergate
Fiduciary fraud
UCI fertility clinic case
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
Jose Manaya
Olga Romani
Phoenician
Payola
29. 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
Sarbanes-Oxley Act
Watergate
Nominee loans
Ed Gray
30. Violations constitute a threat to the health of Americans and to the financial resources of the nation
'Corporation' film
Robert Citron
Medicaid
Robert Citron
31. Around $100000000000
Olga Romani
Cost of S & L scandal
Rely tampons
Health Maintenance Organization (HMO) characteristics
32. 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.
Nominee loans
Linked financing
John Dean
Control fraud characteristics
33. 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.
White-collar crime
Fiduciary fraud
Telecommunications and traditional enforcement strategies
Japanese banking crisis/ characteristics
34. Were doctors charge extra for one session - unnecessary charges - and billing without an actual visit
Tightrope enforcement
Phoenician
Reciprocal lending agreements
Medical abuse
35. Any act punishable by law that is committed through opportunity created in the course of an occupation that is legal
John Dean
Watergate
Occupational crime
Linked financing
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.
Insider trading
Fiduciary fraud
John Dean
Medical abuse
37. Former 2nd largest Medicaid provider in Florida - Who was arrested later for billing for services that were never preformed
Occupational crime
Nominee loans
Will Black
Olga Romani
38. 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.
Charles Keating
Oliver North
Money laundering
Cost of S & L scandal
39. 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
Orange County bankruptcy
Enron
Olga Romani
Control fraud characteristics
40. Explanations given by people as a way of rationalizing their deviant/criminal behavior
Techniques of neutralization
Cost of S & L scandal
White-collar crime
Sarbanes-Oxley Act
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
Olga Romani
Corporate Fraud Bill of 2002
Reciprocal lending agreements
Ed Gray
42. 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.
Penny stocks
Medical abuse
Cost of S & L scandal
Rely tampons
43. Company with held some side effects to meet regulation - which led to physical problems for thousands
John Dean
Orange County bankruptcy
Halcion
Tightrope enforcement
44. Crime committed on behalf of an organization
Alan Cranston
Fiduciary fraud
Organizational crime
Ponzi scheme
45. 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.
Organizational crime
Linked financing
Will Black
Enron
46. 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
Collective embezzlement
Reciprocal lending agreements
Keating Five
47. Involved Dow chemicals which caused strange deformities to some living things in the area
Hemlock - Michigan
White-collar crime
Major locations of S & L fraud
Telecommunications and traditional enforcement strategies
48. 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
Medicaid
Cecil Jacobson
White-collar crime
Land flips
49. 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
Major locations of S & L fraud
Iran-Contra Affair
Alan Cranston
Phoenician
50. Microcap stocks - that are often not required to file reports to the SEC
Sarbanes-Oxley Act
Control fraud characteristics
Reciprocal lending agreements
Penny stocks