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






2. 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.






3. 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.






4. 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






5. 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






6. 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






7. Was the largest pension scam in American history - Ponzi scheme






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






9. 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.






10. The secrecy of police officers who lie or look the other way to protect other police officers






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






12. (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






13. (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






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






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






16. 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.






17. 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






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






19. Involved Dow chemicals which caused strange deformities to some living things in the area






20. 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






21. 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






22. 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 $






23. 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.'






24. 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






25. 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






26. 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.






27. 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






28. 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






29. 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






30. A preacher who borrowed millions of the ministries dollars






31. 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






32. He was an investment broker who illegally manipulated the stock market and in the process redefined the crime of insider trading(1985)






33. Keating's 2000-acre dream community - the single largest real estate venture of Lincoln






34. 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






35. Crime committed on behalf of an organization






36. 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






37. 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






38. 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






39. 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






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






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






42. 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






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






44. 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






45. 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 $






46. 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






47. Around $100000000000






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






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






50. A preacher who borrowed millions of the ministries dollars