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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. 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.
Ed Gray
Major locations of S & L fraud
Fiduciary fraud
John Dean
2. He was an investment broker who illegally manipulated the stock market and in the process redefined the crime of insider trading(1985)
Oliver North
John McCain
Japanese banking crisis/ characteristics
Ivan Boesky
3. 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
Olga Romani
Jimmy Swaggart
Watergate
John Dean
4. 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
Medical fraud
Blue Wall of Silence
Payola
5. 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
Ponzi scheme
Charles Keating
Fiduciary fraud
Oliver North
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.
Technological gridlock
Cecil Jacobson
Hadacol
Rely tampons
7. Involves the stealing of company funds by top executives who often work in groups of two or more
Medical abuse
Nominee loans
Collective embezzlement
Ed Gray
8. Crime committed on behalf of an organization
Organizational crime
Mafiaboy
Hemlock - Michigan
Ponzi scheme
9. Former 2nd largest Medicaid provider in Florida - Who was arrested later for billing for services that were never preformed
Olga Romani
Japanese banking crisis/ characteristics
Nominee loans
Will Black
10. Trade jargon for bribes to promote certain records over the air
Payola
Phoenician
Phoenician
Will Black
11. 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
Control fraud characteristics
Watergate
Insider trading
American Continental Corporation
12. Violations constitute a threat to the health of Americans and to the financial resources of the nation
Technological gridlock
Control fraud characteristics
Medicaid
Iran-Contra Affair
13. 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.
Major locations of S & L fraud
Corporate Fraud Bill of 2002
John McCain
Telecommunications and traditional enforcement strategies
14. 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
Hadacol
Control fraud characteristics
Multiple Employer Welfare Arrangements (MEWAs)
White-collar crime
15. A preacher who borrowed millions of the ministries dollars
Linked financing
White-collar crime
Jimmy Swaggart
Nominee loans
16. (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
Cecil Jacobson
ABSCAM
Computer crime - types
Reciprocal lending agreements
17. Has to do with medical fraud
Medical abuse
Tightrope enforcement
First Pension Corporation
'Corporation' film
18. Involved Dow chemicals which caused strange deformities to some living things in the area
Enron
Hemlock - Michigan
Jose Manaya
Oliver North
19. 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
Ed Gray
Hemlock - Michigan
Hadacol
Estrella
20. 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.
Will Black
Major locations of S & L fraud
First Pension Corporation
Hemlock - Michigan
21. A preacher who borrowed millions of the ministries dollars
First Pension Corporation
Health Maintenance Organization (HMO) characteristics
Olga Romani
Jimmy Swaggart
22. Too much ownership or property - including intellectual property - creates gridlock that results in underutilization of property and stunting of innovation.
Keating Five
Technological gridlock
Land flips
Jose Manaya
23. 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
Medical abuse
Phoenician
Hemlock - Michigan
Insider trading
24. The secrecy of police officers who lie or look the other way to protect other police officers
Blue Wall of Silence
Iran-Contra Affair
Cost of S & L scandal
Telecommunications and traditional enforcement strategies
25. Accounting firms are now forbidden from offering consulting services to clients if it posses a conflict of interest - and for the first time an independent oversight board has been established to oversee the industry.Executives also would not be allo
Corporate Fraud Bill of 2002
Linked financing
Technological gridlock
Phoenician
26. 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
Linked financing
Ed Gray
Ivan Boesky
First Pension Corporation
27. 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.
Medical fraud
'Corporation' film
Rely tampons
Major locations of S & L fraud
28. 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.
Corporate Fraud Bill of 2002
Control fraud characteristics
First Pension Corporation
Fiduciary fraud
29. Investment operation that pays returns to investors out of the money paid by susequent investors - rather than profit.
Ponzi scheme
Blue Wall of Silence
Medical fraud
Collective embezzlement
30. Any act punishable by law that is committed through opportunity created in the course of an occupation that is legal
Computer crime - types
Oliver North
Occupational crime
Keating Five
31. 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
Watergate
Reciprocal lending agreements
'Corporation' film
Olga Romani
32. He was an investment broker who illegally manipulated the stock market and in the process redefined the crime of insider trading(1985)
Tightrope enforcement
Hemlock - Michigan
Ivan Boesky
Telecommunications and traditional enforcement strategies
33. An opthalmologist Who was convicted in 1984 for unnecessary eye surgeries
Computer crime - types
Linked financing
John Dean
Jose Manaya
34. 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
Watergate
Halcion
Occupational crime
35. 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.
Cost of S & L scandal
UCI fertility clinic case
Daisy chain
Oliver North
36. 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
Jose Manaya
Major locations of S & L fraud
Rely tampons
Sarbanes-Oxley Act
37. Involves the stealing of company funds by top executives who often work in groups of two or more
Collective embezzlement
'Corporation' film
Will Black
John McCain
38. 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
Alan Cranston
UCI fertility clinic case
Occupational crime
Hemlock - Michigan
39. Microcap stocks - that are often not required to file reports to the SEC
Insider trading
Daisy chain
Penny stocks
Oliver North
40. 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
Phoenician
Cecil Jacobson
First Pension Corporation
41. Was the largest pension scam in American history - Ponzi scheme
First Pension Corporation
Fiduciary fraud
Penny stocks
Cost of S & L scandal
42. 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
Ivan Boesky
Collective embezzlement
Iran-Contra Affair
Technological gridlock
43. 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
John Dean
Keating Five
John McCain
Will Black
44. Investment operation that pays returns to investors out of the money paid by susequent investors - rather than profit.
Ponzi scheme
American Continental Corporation
Techniques of neutralization
Linked financing
45. Accepted money from Keating - one of the Keating 5
Major locations of S & L fraud
Medical fraud
Halcion
John McCain
46. 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.
Blue Wall of Silence
'Corporation' film
Cecil Jacobson
Telecommunications and traditional enforcement strategies
47. 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
Insider trading
Medicaid
Orange County bankruptcy
Occupational crime
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.
John McCain
Medicaid
Will Black
Medical fraud
49. Keating's 2000-acre dream community - the single largest real estate venture of Lincoln
Olga Romani
Estrella
John McCain
Mafiaboy
50. Explanations given by people as a way of rationalizing their deviant/criminal behavior
Insider trading
Keating Five
Occupational crime
Techniques of neutralization