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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. 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
Linked financing
Major locations of S & L fraud
Major locations of S & L fraud
Oliver North
2. 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.
Telecommunications and traditional enforcement strategies
Fiduciary fraud
Halcion
Mafiaboy
3. An opthalmologist Who was convicted in 1984 for unnecessary eye surgeries
Robert Citron
Health Maintenance Organization (HMO) characteristics
Jose Manaya
Ed Gray
4. 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
Techniques of neutralization
Blue Wall of Silence
Land flips
Organizational crime
5. 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
Sarbanes-Oxley Act
Jimmy Swaggart
Hemlock - Michigan
ABSCAM
6. Corporations are the same as psychos
7. 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 fraud
Cecil Jacobson
Telecommunications and traditional enforcement strategies
Occupational crime
8. 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
Rely tampons
Medical fraud
Mafiaboy
Medical abuse
9. Was the largest pension scam in American history - Ponzi scheme
Ivan Boesky
First Pension Corporation
Robert Citron
Will Black
10. 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
Charles Keating
'Corporation' film
Penny stocks
Rely tampons
11. 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
Enron
Charles Keating
Ed Gray
Reciprocal lending agreements
12. Too much ownership or property - including intellectual property - creates gridlock that results in underutilization of property and stunting of innovation.
Jose Manaya
Blue Wall of Silence
Penny stocks
Technological gridlock
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
Charles Keating
Jose Manaya
White-collar crime
American Continental Corporation
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
Land flips
Penny stocks
Medicaid
ABSCAM
15. Microcap stocks - that are often not required to file reports to the SEC
Reciprocal lending agreements
Oliver North
Collective embezzlement
Penny stocks
16. 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
Charles Keating
Watergate
Land flips
17. Described as 'multiple employer trusts' or 'METs -' as vehicles for marketing health and welfare benefits to employers for their employees.
Organizational crime
Multiple Employer Welfare Arrangements (MEWAs)
Linked financing
Cost of S & L scandal
18. Involved Dow chemicals which caused strange deformities to some living things in the area
Ivan Boesky
First Pension Corporation
Hemlock - Michigan
John McCain
19. (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
Jose Manaya
Mafiaboy
Computer crime - types
Reciprocal lending agreements
20. 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
Rely tampons
Phoenician
Corporate Fraud Bill of 2002
Iran-Contra Affair
21. Accepted money from Keating - one of the Keating 5
White-collar crime
John McCain
Enron
Oliver North
22. A term used to describe unproven or fraudulent medical practices
Computer crime - types
Medical abuse
Medical fraud
Insider trading
23. Were doctors charge extra for one session - unnecessary charges - and billing without an actual visit
Mafiaboy
Technological gridlock
Medical abuse
Robert Citron
24. 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
First Pension Corporation
Payola
Control fraud characteristics
Iran-Contra Affair
25. 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
Nominee loans
Occupational crime
Telecommunications and traditional enforcement strategies
Japanese banking crisis/ characteristics
26. 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
Health Maintenance Organization (HMO) characteristics
Telecommunications and traditional enforcement strategies
Jose Manaya
Occupational crime
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.
Orange County bankruptcy
Rely tampons
Nominee loans
Jimmy Swaggart
28. Accepted money from Keating - one of the Keating 5
Corporate Fraud Bill of 2002
Linked financing
John McCain
Ed Gray
29. 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
Keating Five
Enron
Cecil Jacobson
Medicaid
30. Irvine. Miami
'Corporation' film
Major locations of S & L fraud
Will Black
Collective embezzlement
31. The secrecy of police officers who lie or look the other way to protect other police officers
Blue Wall of Silence
ABSCAM
Health Maintenance Organization (HMO) characteristics
Daisy chain
32. 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
Daisy chain
Will Black
Iran-Contra Affair
Medical fraud
33. 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
Payola
Charles Keating
Robert Citron
Techniques of neutralization
34. Explanations given by people as a way of rationalizing their deviant/criminal behavior
Daisy chain
Ivan Boesky
Organizational crime
Techniques of neutralization
35. Described as 'multiple employer trusts' or 'METs -' as vehicles for marketing health and welfare benefits to employers for their employees.
Multiple Employer Welfare Arrangements (MEWAs)
Health Maintenance Organization (HMO) characteristics
Orange County bankruptcy
Organizational crime
36. 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.
First Pension Corporation
Linked financing
Money laundering
John Dean
37. 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
'Corporation' film
Rely tampons
Watergate
Alan Cranston
38. He was an investment broker who illegally manipulated the stock market and in the process redefined the crime of insider trading(1985)
Ivan Boesky
Japanese banking crisis/ characteristics
Money laundering
Rely tampons
39. A former fertility doctor who used his own sperm to impregnate his patients - without informing them.(1980s)
Fiduciary fraud
Rely tampons
Cecil Jacobson
Health Maintenance Organization (HMO) characteristics
40. Microcap stocks - that are often not required to file reports to the SEC
Major locations of S & L fraud
Telecommunications and traditional enforcement strategies
Oliver North
Penny stocks
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.
Reciprocal lending agreements
American Continental Corporation
American Continental Corporation
Will Black
42. Any act punishable by law that is committed through opportunity created in the course of an occupation that is legal
Occupational crime
Medical fraud
Daisy chain
Will Black
43. 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
Keating Five
Rely tampons
Tightrope enforcement
Robert Citron
44. 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
John Dean
Daisy chain
Telecommunications and traditional enforcement strategies
Robert Citron
45. 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
Nominee loans
Reciprocal lending agreements
Health Maintenance Organization (HMO) characteristics
Techniques of neutralization
46. 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.'
Hemlock - Michigan
Land flips
Hadacol
American Continental Corporation
47. Was the largest pension scam in American history - Ponzi scheme
Multiple Employer Welfare Arrangements (MEWAs)
Penny stocks
White-collar crime
First Pension Corporation
48. Keating's 2000-acre dream community - the single largest real estate venture of Lincoln
Hemlock - Michigan
Estrella
Ivan Boesky
Fiduciary fraud
49. Any act punishable by law that is committed through opportunity created in the course of an occupation that is legal
Insider trading
Keating Five
Occupational crime
Cost of S & L scandal
50. 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.
Jose Manaya
Phoenician
Money laundering
Reciprocal lending agreements