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






2. 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






3. 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






4. 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






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






6. (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






7. 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






8. A preacher who borrowed millions of the ministries dollars






9. 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.






10. 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.






11. 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.






12. 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






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






14. 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.






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






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.'






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






18. 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






19. 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.






20. 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






21. 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.






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






23. 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






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






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






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






27. 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






28. 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






29. 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.






30. 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






31. 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 $






32. 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.'






33. 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






34. 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






35. 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 $






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






37. Has to do with medical fraud






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






40. 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.






41. 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






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






43. A preacher who borrowed millions of the ministries dollars






44. 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






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






46. 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






47. 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






48. 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.






49. 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






50. Corporations are the same as psychos

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