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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. 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






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






3. 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






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






5. Corporations are the same as psychos

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






7. 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






8. Trade jargon for bribes to promote certain records over the air






9. (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






10. Keating's 2000-acre dream community - the single largest real estate venture of Lincoln






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






12. 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






13. 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






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






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






16. 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






17. 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






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






19. Corporations are the same as psychos

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






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






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






23. 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.






24. 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






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






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






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






28. 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






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






30. 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






31. Was the largest pension scam in American history - Ponzi scheme






32. Around $100000000000






33. 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.






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






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






36. Irvine. Miami






37. 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.






38. 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






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






40. 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






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






42. 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






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






44. 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.'






45. 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






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






47. 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.






48. Has to do with medical fraud






49. 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






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