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






2. 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.






3. Has to do with medical fraud






4. 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






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






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. 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.






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






9. 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






10. 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.






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






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






14. 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.'






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






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






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






18. 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






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






20. 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






21. 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






22. 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.






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






24. Around $100000000000






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






26. 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






27. Corporations are the same as psychos


28. 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






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






30. 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






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






32. 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






33. Has to do with medical fraud






34. 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






35. 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






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






37. 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






38. 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.






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






40. Corporations are the same as psychos


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






42. 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






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






44. 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.






45. 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.'






46. 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






47. 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






48. A preacher who borrowed millions of the ministries dollars






49. 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






50. 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