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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. 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
Will Black
First Pension Corporation
Linked financing
2. Was the largest pension scam in American history - Ponzi scheme
Corporate Fraud Bill of 2002
Ponzi scheme
Enron
First Pension Corporation
3. The secrecy of police officers who lie or look the other way to protect other police officers
Blue Wall of Silence
Penny stocks
Tightrope enforcement
UCI fertility clinic case
4. 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.
Multiple Employer Welfare Arrangements (MEWAs)
Techniques of neutralization
Charles Keating
Linked financing
5. 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
Oliver North
ABSCAM
Linked financing
Ed Gray
6. 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
Medical abuse
Corporate Fraud Bill of 2002
Health Maintenance Organization (HMO) characteristics
7. Microcap stocks - that are often not required to file reports to the SEC
Cost of S & L scandal
Hadacol
Penny stocks
Daisy chain
8. 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
UCI fertility clinic case
Payola
Iran-Contra Affair
Fiduciary fraud
9. Former 2nd largest Medicaid provider in Florida - Who was arrested later for billing for services that were never preformed
Money laundering
Hadacol
Alan Cranston
Olga Romani
10. 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)
Medicaid
Ed Gray
Cost of S & L scandal
11. Keating's 2000-acre dream community - the single largest real estate venture of Lincoln
Medical abuse
Insider trading
Major locations of S & L fraud
Estrella
12. Too much ownership or property - including intellectual property - creates gridlock that results in underutilization of property and stunting of innovation.
Technological gridlock
Medical abuse
Land flips
Alan Cranston
13. 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.
John McCain
Iran-Contra Affair
Orange County bankruptcy
UCI fertility clinic case
14. 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
Oliver North
Phoenician
Technological gridlock
Corporate Fraud Bill of 2002
15. 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
Ponzi scheme
Control fraud characteristics
Watergate
Cost of S & L scandal
16. Violations constitute a threat to the health of Americans and to the financial resources of the nation
Medicaid
Halcion
Cost of S & L scandal
Major locations of S & L fraud
17. 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
Control fraud characteristics
Health Maintenance Organization (HMO) characteristics
Halcion
White-collar crime
18. 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.
Money laundering
Insider trading
Mafiaboy
Olga Romani
19. Any act punishable by law that is committed through opportunity created in the course of an occupation that is legal
Hadacol
UCI fertility clinic case
Estrella
Occupational crime
20. The secrecy of police officers who lie or look the other way to protect other police officers
Blue Wall of Silence
White-collar crime
Organizational crime
Halcion
21. 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
Keating Five
Daisy chain
Hemlock - Michigan
Enron
22. 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
Occupational crime
White-collar crime
Keating Five
Medical fraud
23. 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
Alan Cranston
Olga Romani
Rely tampons
24. 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
Tightrope enforcement
Watergate
Hadacol
Medical fraud
25. Irvine. Miami
Medicaid
Major locations of S & L fraud
Iran-Contra Affair
Estrella
26. 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
Japanese banking crisis/ characteristics
Hadacol
Ed Gray
Penny stocks
27. Around $100000000000
Oliver North
John McCain
Cost of S & L scandal
Organizational crime
28. 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
Land flips
Robert Citron
Technological gridlock
Mafiaboy
29. 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.
Medicaid
Payola
Fiduciary fraud
Sarbanes-Oxley Act
30. A preacher who borrowed millions of the ministries dollars
Multiple Employer Welfare Arrangements (MEWAs)
Jimmy Swaggart
Computer crime - types
Charles Keating
31. Corporations are the same as psychos
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32. 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
Control fraud characteristics
Linked financing
Ed Gray
Multiple Employer Welfare Arrangements (MEWAs)
33. Company with held some side effects to meet regulation - which led to physical problems for thousands
Linked financing
Ed Gray
Halcion
Cecil Jacobson
34. He was an investment broker who illegally manipulated the stock market and in the process redefined the crime of insider trading(1985)
Ivan Boesky
Occupational crime
Technological gridlock
Tightrope enforcement
35. An opthalmologist Who was convicted in 1984 for unnecessary eye surgeries
Enron
Jose Manaya
Hemlock - Michigan
Linked financing
36. Any act punishable by law that is committed through opportunity created in the course of an occupation that is legal
Major locations of S & L fraud
Tightrope enforcement
Occupational crime
Alan Cranston
37. Involves the stealing of company funds by top executives who often work in groups of two or more
Keating Five
Collective embezzlement
Will Black
Computer crime - types
38. 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 $
Charles Keating
Daisy chain
Orange County bankruptcy
Charles Keating
39. 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
Control fraud characteristics
Olga Romani
Watergate
Daisy chain
40. 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.
John Dean
Fiduciary fraud
'Corporation' film
John Dean
41. Were doctors charge extra for one session - unnecessary charges - and billing without an actual visit
Medical abuse
Insider trading
Halcion
Fiduciary fraud
42. 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
Oliver North
White-collar crime
Control fraud characteristics
Technological gridlock
43. A preacher who borrowed millions of the ministries dollars
Jimmy Swaggart
Medical abuse
John McCain
Technological gridlock
44. 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
Oliver North
Corporate Fraud Bill of 2002
'Corporation' film
45. 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
Major locations of S & L fraud
Insider trading
Phoenician
American Continental Corporation
46. 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
Techniques of neutralization
Estrella
Computer crime - types
Enron
47. Around $100000000000
Organizational crime
Cost of S & L scandal
Penny stocks
Japanese banking crisis/ characteristics
48. Microcap stocks - that are often not required to file reports to the SEC
Multiple Employer Welfare Arrangements (MEWAs)
Robert Citron
Reciprocal lending agreements
Penny stocks
49. Crime committed on behalf of an organization
Organizational crime
Reciprocal lending agreements
Will Black
UCI fertility clinic case
50. 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
Estrella
Oliver North
Collective embezzlement
Insider trading