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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. 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
Techniques of neutralization
Nominee loans
Payola
Keating Five
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
Nominee loans
Charles Keating
Sarbanes-Oxley Act
Iran-Contra Affair
3. 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
American Continental Corporation
Charles Keating
Ivan Boesky
Watergate
4. 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
Japanese banking crisis/ characteristics
Ponzi scheme
Keating Five
Robert Citron
5. Microcap stocks - that are often not required to file reports to the SEC
Jimmy Swaggart
Robert Citron
Hemlock - Michigan
Penny stocks
6. 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.
Rely tampons
John Dean
Health Maintenance Organization (HMO) characteristics
Mafiaboy
7. A preacher who borrowed millions of the ministries dollars
Jimmy Swaggart
Insider trading
Japanese banking crisis/ characteristics
First Pension Corporation
8. 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.
Fiduciary fraud
Robert Citron
Computer crime - types
Organizational crime
9. 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
Reciprocal lending agreements
White-collar crime
Fiduciary fraud
Medical abuse
10. 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
Collective embezzlement
Japanese banking crisis/ characteristics
Cost of S & L scandal
Health Maintenance Organization (HMO) characteristics
11. 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
Will Black
Major locations of S & L fraud
Sarbanes-Oxley Act
Halcion
12. 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
Computer crime - types
Keating Five
Control fraud characteristics
Robert Citron
13. 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
John Dean
Tightrope enforcement
Insider trading
Charles Keating
14. Described as 'multiple employer trusts' or 'METs -' as vehicles for marketing health and welfare benefits to employers for their employees.
John Dean
Multiple Employer Welfare Arrangements (MEWAs)
Blue Wall of Silence
Alan Cranston
15. 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
Rely tampons
Estrella
Robert Citron
White-collar crime
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.'
Hadacol
Will Black
Health Maintenance Organization (HMO) characteristics
Occupational crime
17. Microcap stocks - that are often not required to file reports to the SEC
Control fraud characteristics
Orange County bankruptcy
Corporate Fraud Bill of 2002
Penny stocks
18. 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
Japanese banking crisis/ characteristics
Watergate
Phoenician
Medicaid
19. An opthalmologist Who was convicted in 1984 for unnecessary eye surgeries
'Corporation' film
Daisy chain
Jose Manaya
Will Black
20. Crime committed on behalf of an organization
First Pension Corporation
John McCain
Nominee loans
Organizational crime
21. 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
Ed Gray
Alan Cranston
Hadacol
Japanese banking crisis/ characteristics
22. Irvine. Miami
Enron
Major locations of S & L fraud
Technological gridlock
Control fraud characteristics
23. 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
UCI fertility clinic case
Medical fraud
Japanese banking crisis/ characteristics
Hadacol
24. 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
Major locations of S & L fraud
Orange County bankruptcy
Olga Romani
Keating Five
25. Around $100000000000
Cost of S & L scandal
Insider trading
Phoenician
Land flips
26. Corporations are the same as psychos
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27. Former 2nd largest Medicaid provider in Florida - Who was arrested later for billing for services that were never preformed
Linked financing
Halcion
Daisy chain
Olga Romani
28. 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
Mafiaboy
Watergate
Payola
Medicaid
29. 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
Money laundering
Control fraud characteristics
American Continental Corporation
Rely tampons
30. Crime committed on behalf of an organization
Organizational crime
Telecommunications and traditional enforcement strategies
Collective embezzlement
Medical abuse
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 $
ABSCAM
Ponzi scheme
Daisy chain
Cost of S & L scandal
32. Irvine. Miami
White-collar crime
Major locations of S & L fraud
Estrella
Cost of S & L scandal
33. Accepted money from Keating - one of the Keating 5
John McCain
Jose Manaya
White-collar crime
Payola
34. 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.
Linked financing
Payola
Will Black
Telecommunications and traditional enforcement strategies
35. 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
Hadacol
Medical fraud
Hemlock - Michigan
Mafiaboy
36. A preacher who borrowed millions of the ministries dollars
Robert Citron
Jimmy Swaggart
Mafiaboy
'Corporation' film
37. 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
Hemlock - Michigan
Payola
Technological gridlock
Oliver North
38. 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
Technological gridlock
Ivan Boesky
Enron
Collective embezzlement
39. (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
Tightrope enforcement
Computer crime - types
ABSCAM
Money laundering
40. 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
Robert Citron
Nominee loans
Enron
'Corporation' film
41. Trade jargon for bribes to promote certain records over the air
Hemlock - Michigan
Medical fraud
Payola
Reciprocal lending agreements
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
Hadacol
Rely tampons
Robert Citron
Control fraud characteristics
43. 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.
Penny stocks
Telecommunications and traditional enforcement strategies
Halcion
'Corporation' film
44. 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
Computer crime - types
Nominee loans
Techniques of neutralization
Ivan Boesky
45. Involves the stealing of company funds by top executives who often work in groups of two or more
Medicaid
Jimmy Swaggart
Collective embezzlement
Oliver North
46. 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
Medical abuse
Watergate
Telecommunications and traditional enforcement strategies
Linked financing
47. Has to do with medical fraud
Nominee loans
Tightrope enforcement
Payola
Robert Citron
48. 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.
Iran-Contra Affair
'Corporation' film
Will Black
Organizational crime
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
Nominee loans
Estrella
Rely tampons
Alan Cranston
50. Corporations are the same as psychos
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