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White Collar Crime Basics

Subjects : law, business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
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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. 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






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. 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






4. 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






5. A preacher who borrowed millions of the ministries dollars






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






7. 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






8. A former fertility doctor who used his own sperm to impregnate his patients - without informing them.(1980s)






9. (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






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






11. 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






12. 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.






13. 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






14. 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






15. Crime committed on behalf of an organization






16. An opthalmologist Who was convicted in 1984 for unnecessary eye surgeries






17. A former fertility doctor who used his own sperm to impregnate his patients - without informing them.(1980s)






18. 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






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






20. Around $100000000000






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






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






23. 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 $






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






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






27. Crime committed on behalf of an organization






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






29. Has to do with medical fraud






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






31. An opthalmologist Who was convicted in 1984 for unnecessary eye surgeries






32. 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






33. Has to do with medical fraud






34. 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.






35. 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.'






36. 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






37. 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.






38. 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






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






40. 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






41. 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.






42. 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






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.






44. 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






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






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






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






48. 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






49. 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.






50. 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






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