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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. 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
White-collar crime
Japanese banking crisis/ characteristics
'Corporation' film
Hemlock - Michigan
2. 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.
Mafiaboy
Will Black
Computer crime - types
Nominee loans
3. Microcap stocks - that are often not required to file reports to the SEC
Mafiaboy
Land flips
White-collar crime
Penny stocks
4. Irvine. Miami
Halcion
Health Maintenance Organization (HMO) characteristics
Major locations of S & L fraud
Money laundering
5. 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
Olga Romani
Nominee loans
Fiduciary fraud
American Continental Corporation
6. Irvine. Miami
American Continental Corporation
Computer crime - types
Major locations of S & L fraud
First Pension Corporation
7. 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
Tightrope enforcement
Robert Citron
Organizational crime
Sarbanes-Oxley Act
8. (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
Computer crime - types
Enron
Charles Keating
American Continental Corporation
9. 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.
Money laundering
American Continental Corporation
John Dean
Computer crime - types
10. Investment operation that pays returns to investors out of the money paid by susequent investors - rather than profit.
Ponzi scheme
Collective embezzlement
John McCain
Occupational crime
11. Has to do with medical fraud
Tightrope enforcement
Olga Romani
Corporate Fraud Bill of 2002
Reciprocal lending agreements
12. Keating's 2000-acre dream community - the single largest real estate venture of Lincoln
Land flips
Robert Citron
Estrella
Corporate Fraud Bill of 2002
13. 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
UCI fertility clinic case
Tightrope enforcement
First Pension Corporation
14. 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
Phoenician
Nominee loans
Cost of S & L scandal
15. 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
Japanese banking crisis/ characteristics
White-collar crime
Estrella
16. A term used to describe unproven or fraudulent medical practices
Cost of S & L scandal
Money laundering
Ed Gray
Medical fraud
17. Former 2nd largest Medicaid provider in Florida - Who was arrested later for billing for services that were never preformed
Linked financing
Iran-Contra Affair
Olga Romani
ABSCAM
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
Estrella
'Corporation' film
Oliver North
Health Maintenance Organization (HMO) characteristics
19. 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
Telecommunications and traditional enforcement strategies
'Corporation' film
Techniques of neutralization
Mafiaboy
20. 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
Nominee loans
John McCain
Phoenician
Jimmy Swaggart
21. Violations constitute a threat to the health of Americans and to the financial resources of the nation
Rely tampons
Medicaid
Robert Citron
Computer crime - types
22. 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
Keating Five
Insider trading
Enron
Major locations of S & L fraud
23. 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
Hemlock - Michigan
Fiduciary fraud
Control fraud characteristics
24. 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
Alan Cranston
Halcion
Money laundering
Keating Five
25. A former fertility doctor who used his own sperm to impregnate his patients - without informing them.(1980s)
Cecil Jacobson
Payola
Insider trading
John McCain
26. 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
Collective embezzlement
Collective embezzlement
Charles Keating
Reciprocal lending agreements
27. 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
Fiduciary fraud
First Pension Corporation
Health Maintenance Organization (HMO) characteristics
Phoenician
28. Too much ownership or property - including intellectual property - creates gridlock that results in underutilization of property and stunting of innovation.
Technological gridlock
Collective embezzlement
Phoenician
Halcion
29. 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.'
Medical fraud
Medicaid
Hadacol
White-collar crime
30. The secrecy of police officers who lie or look the other way to protect other police officers
Occupational crime
Telecommunications and traditional enforcement strategies
Blue Wall of Silence
Jimmy Swaggart
31. 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
Sarbanes-Oxley Act
Alan Cranston
Daisy chain
Insider trading
32. 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.
Japanese banking crisis/ characteristics
John Dean
Hadacol
Linked financing
33. (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
Enron
Sarbanes-Oxley Act
Oliver North
Computer crime - types
34. 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.
Nominee loans
Penny stocks
Fiduciary fraud
Oliver North
35. Around $100000000000
Money laundering
Mafiaboy
First Pension Corporation
Cost of S & L scandal
36. 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.
John McCain
Iran-Contra Affair
Telecommunications and traditional enforcement strategies
White-collar crime
37. An opthalmologist Who was convicted in 1984 for unnecessary eye surgeries
Oliver North
Charles Keating
Money laundering
Jose Manaya
38. Around $100000000000
Linked financing
Charles Keating
Cost of S & L scandal
Japanese banking crisis/ characteristics
39. 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
Medical abuse
Alan Cranston
Techniques of neutralization
First Pension Corporation
40. 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
First Pension Corporation
UCI fertility clinic case
Will Black
Japanese banking crisis/ characteristics
41. 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.
Alan Cranston
Watergate
Will Black
Halcion
42. Former 2nd largest Medicaid provider in Florida - Who was arrested later for billing for services that were never preformed
Olga Romani
Robert Citron
Telecommunications and traditional enforcement strategies
Iran-Contra Affair
43. Violations constitute a threat to the health of Americans and to the financial resources of the nation
Medicaid
Estrella
'Corporation' film
Halcion
44. A preacher who borrowed millions of the ministries dollars
Alan Cranston
Iran-Contra Affair
Jimmy Swaggart
Computer crime - types
45. 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
Money laundering
ABSCAM
Japanese banking crisis/ characteristics
Iran-Contra Affair
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
Control fraud characteristics
First Pension Corporation
Hadacol
ABSCAM
47. 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.
White-collar crime
First Pension Corporation
Linked financing
Computer crime - types
48. 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
Halcion
Insider trading
Orange County bankruptcy
Reciprocal lending agreements
49. An opthalmologist Who was convicted in 1984 for unnecessary eye surgeries
Money laundering
Corporate Fraud Bill of 2002
Jose Manaya
Organizational crime
50. 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
Iran-Contra Affair
Enron
Enron
Olga Romani