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Test your basic knowledge |
White Collar Crime Basics
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Subjects
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law
,
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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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. 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
First Pension Corporation
Enron
Robert Citron
Penny stocks
2. 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
Nominee loans
Medical abuse
Payola
Land flips
3. Investment operation that pays returns to investors out of the money paid by susequent investors - rather than profit.
Ponzi scheme
Insider trading
Telecommunications and traditional enforcement strategies
Linked financing
4. 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
Robert Citron
Insider trading
John Dean
White-collar crime
5. 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
American Continental Corporation
Enron
Jimmy Swaggart
Major locations of S & L fraud
6. Accepted money from Keating - one of the Keating 5
Control fraud characteristics
John McCain
Penny stocks
Major locations of S & L fraud
7. 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.
Reciprocal lending agreements
Estrella
Linked financing
Penny stocks
8. 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
Medicaid
Control fraud characteristics
Mafiaboy
Penny stocks
9. 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
Corporate Fraud Bill of 2002
John McCain
Phoenician
Land flips
10. Corporations are the same as psychos
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11. 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
Ponzi scheme
Iran-Contra Affair
Rely tampons
Organizational crime
12. Around $100000000000
Keating Five
American Continental Corporation
Cost of S & L scandal
Enron
13. Described as 'multiple employer trusts' or 'METs -' as vehicles for marketing health and welfare benefits to employers for their employees.
ABSCAM
Ivan Boesky
Telecommunications and traditional enforcement strategies
Multiple Employer Welfare Arrangements (MEWAs)
14. 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
ABSCAM
Medicaid
Phoenician
Olga Romani
15. Keating's 2000-acre dream community - the single largest real estate venture of Lincoln
Will Black
Estrella
'Corporation' film
Technological gridlock
16. 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
Olga Romani
Corporate Fraud Bill of 2002
Multiple Employer Welfare Arrangements (MEWAs)
Penny stocks
17. 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.
'Corporation' film
Linked financing
Will Black
ABSCAM
18. 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
Medicaid
Ed Gray
Blue Wall of Silence
Mafiaboy
19. 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
Money laundering
Enron
Medicaid
First Pension Corporation
20. 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
Medical abuse
Halcion
Tightrope enforcement
Orange County bankruptcy
21. 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
Computer crime - types
Medicaid
Charles Keating
First Pension Corporation
22. Crime committed on behalf of an organization
Olga Romani
Fiduciary fraud
Linked financing
Organizational crime
23. Around $100000000000
Medicaid
Hadacol
Cost of S & L scandal
Medical fraud
24. 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.
Land flips
Daisy chain
Fiduciary fraud
Computer crime - types
25. 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.'
Hadacol
Corporate Fraud Bill of 2002
Keating Five
Iran-Contra Affair
26. 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
Estrella
Jose Manaya
Enron
White-collar crime
27. 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.
John Dean
Phoenician
Phoenician
ABSCAM
28. 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
Orange County bankruptcy
Oliver North
First Pension Corporation
Daisy chain
29. A former fertility doctor who used his own sperm to impregnate his patients - without informing them.(1980s)
Collective embezzlement
Tightrope enforcement
Olga Romani
Cecil Jacobson
30. 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.
American Continental Corporation
Will Black
Fiduciary fraud
John Dean
31. 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.
Medical abuse
Money laundering
Hemlock - Michigan
Technological gridlock
32. Was the largest pension scam in American history - Ponzi scheme
First Pension Corporation
Will Black
Technological gridlock
Jimmy Swaggart
33. Keating's 2000-acre dream community - the single largest real estate venture of Lincoln
Insider trading
Estrella
Penny stocks
Computer crime - types
34. An opthalmologist Who was convicted in 1984 for unnecessary eye surgeries
Telecommunications and traditional enforcement strategies
Jimmy Swaggart
Daisy chain
Jose Manaya
35. Any act punishable by law that is committed through opportunity created in the course of an occupation that is legal
Ed Gray
Iran-Contra Affair
Occupational crime
Jimmy Swaggart
36. Trade jargon for bribes to promote certain records over the air
Japanese banking crisis/ characteristics
Japanese banking crisis/ characteristics
Oliver North
Payola
37. A former fertility doctor who used his own sperm to impregnate his patients - without informing them.(1980s)
Medicaid
Cecil Jacobson
Phoenician
Major locations of S & L fraud
38. 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
Rely tampons
Land flips
Reciprocal lending agreements
Phoenician
39. Explanations given by people as a way of rationalizing their deviant/criminal behavior
Ivan Boesky
Techniques of neutralization
Hadacol
American Continental Corporation
40. 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 $
Money laundering
Daisy chain
Corporate Fraud Bill of 2002
Cost of S & L scandal
41. 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
Payola
Daisy chain
Orange County bankruptcy
Cost of S & L scandal
42. 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.
Medical abuse
Telecommunications and traditional enforcement strategies
Alan Cranston
Daisy chain
43. 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
Money laundering
Orange County bankruptcy
Corporate Fraud Bill of 2002
Phoenician
44. 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.
Halcion
Oliver North
Will Black
Alan Cranston
45. A preacher who borrowed millions of the ministries dollars
Land flips
Blue Wall of Silence
Daisy chain
Jimmy Swaggart
46. Too much ownership or property - including intellectual property - creates gridlock that results in underutilization of property and stunting of innovation.
Technological gridlock
Will Black
Telecommunications and traditional enforcement strategies
Watergate
47. Violations constitute a threat to the health of Americans and to the financial resources of the nation
Medicaid
Estrella
Payola
Telecommunications and traditional enforcement strategies
48. Microcap stocks - that are often not required to file reports to the SEC
Oliver North
Blue Wall of Silence
Mafiaboy
Penny stocks
49. Irvine. Miami
Daisy chain
Ponzi scheme
Major locations of S & L fraud
Olga Romani
50. 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
Robert Citron
Reciprocal lending agreements
Will Black
Medical abuse
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