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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. 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






2. 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






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






4. Crime committed on behalf of an organization






5. 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






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






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






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






9. 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.






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






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






12. 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






13. 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






14. 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.






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






16. 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






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






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






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






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






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






22. Around $100000000000






23. 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






24. Crime committed on behalf of an organization






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






26. 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.






27. A preacher who borrowed millions of the ministries dollars






28. Irvine. Miami






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






30. 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 $






31. 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






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






33. 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.






34. 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






35. (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






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






37. 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






38. 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






39. 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






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






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






42. Accepted money from Keating - one of the Keating 5






43. 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.






44. 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






45. Accepted money from Keating - one of the Keating 5






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






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






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






49. 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.






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