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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. 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
Hadacol
Watergate
Land flips
Ivan Boesky
2. 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.
UCI fertility clinic case
Medical abuse
Insider trading
ABSCAM
3. Former 2nd largest Medicaid provider in Florida - Who was arrested later for billing for services that were never preformed
Tightrope enforcement
Olga Romani
Nominee loans
Estrella
4. 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.
Technological gridlock
Robert Citron
Money laundering
Telecommunications and traditional enforcement strategies
5. 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
UCI fertility clinic case
Mafiaboy
White-collar crime
Medicaid
6. Crime committed on behalf of an organization
Blue Wall of Silence
Organizational crime
Japanese banking crisis/ characteristics
Olga Romani
7. Accepted money from Keating - one of the Keating 5
Phoenician
American Continental Corporation
Tightrope enforcement
John McCain
8. Were doctors charge extra for one session - unnecessary charges - and billing without an actual visit
Nominee loans
Halcion
Japanese banking crisis/ characteristics
Medical abuse
9. 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
Mafiaboy
Ponzi scheme
Multiple Employer Welfare Arrangements (MEWAs)
Keating Five
10. Too much ownership or property - including intellectual property - creates gridlock that results in underutilization of property and stunting of innovation.
Medical abuse
Technological gridlock
John McCain
Collective embezzlement
11. 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
Orange County bankruptcy
Money laundering
Blue Wall of Silence
Hadacol
12. 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
Charles Keating
Computer crime - types
Japanese banking crisis/ characteristics
Insider trading
13. Keating's 2000-acre dream community - the single largest real estate venture of Lincoln
Rely tampons
Jimmy Swaggart
Estrella
White-collar crime
14. 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.
Techniques of neutralization
John Dean
John McCain
Watergate
15. (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
Iran-Contra Affair
Insider trading
Cecil Jacobson
Computer crime - types
16. An opthalmologist Who was convicted in 1984 for unnecessary eye surgeries
Telecommunications and traditional enforcement strategies
Jose Manaya
Major locations of S & L fraud
Ivan Boesky
17. A term used to describe unproven or fraudulent medical practices
'Corporation' film
Charles Keating
Medical fraud
Technological gridlock
18. 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
Occupational crime
Iran-Contra Affair
ABSCAM
19. Described as 'multiple employer trusts' or 'METs -' as vehicles for marketing health and welfare benefits to employers for their employees.
Mafiaboy
Multiple Employer Welfare Arrangements (MEWAs)
Phoenician
ABSCAM
20. Involves the stealing of company funds by top executives who often work in groups of two or more
Cecil Jacobson
American Continental Corporation
Collective embezzlement
Estrella
21. 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
Penny stocks
Medical abuse
'Corporation' film
Iran-Contra Affair
22. 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
Reciprocal lending agreements
Watergate
Orange County bankruptcy
Health Maintenance Organization (HMO) characteristics
23. 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
UCI fertility clinic case
Tightrope enforcement
Oliver North
24. 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
Rely tampons
Organizational crime
Iran-Contra Affair
25. Accepted money from Keating - one of the Keating 5
Money laundering
Jose Manaya
John McCain
First Pension Corporation
26. Former 2nd largest Medicaid provider in Florida - Who was arrested later for billing for services that were never preformed
Ed Gray
Nominee loans
Linked financing
Olga Romani
27. 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
Control fraud characteristics
Technological gridlock
Cecil Jacobson
Land flips
28. 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
Medicaid
Land flips
Occupational crime
29. Crime committed on behalf of an organization
Computer crime - types
Organizational crime
Watergate
Hemlock - Michigan
30. 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.
Watergate
Sarbanes-Oxley Act
Hadacol
Linked financing
31. 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.'
Insider trading
Hadacol
Orange County bankruptcy
Techniques of neutralization
32. A term used to describe unproven or fraudulent medical practices
Land flips
Medicaid
Medical fraud
Ivan Boesky
33. 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
Penny stocks
Control fraud characteristics
Olga Romani
Enron
34. 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.
Techniques of neutralization
Fiduciary fraud
Organizational crime
First Pension Corporation
35. Irvine. Miami
Penny stocks
Major locations of S & L fraud
Ivan Boesky
Ivan Boesky
36. 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
Organizational crime
Nominee loans
Mafiaboy
Robert Citron
37. 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.
Land flips
Will Black
Fiduciary fraud
Corporate Fraud Bill of 2002
38. 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 $
John Dean
Daisy chain
Control fraud characteristics
John McCain
39. 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
Will Black
Ivan Boesky
Jimmy Swaggart
Alan Cranston
40. Has to do with medical fraud
Tightrope enforcement
Cecil Jacobson
Linked financing
UCI fertility clinic case
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
Insider trading
Orange County bankruptcy
Medicaid
Ponzi scheme
42. Any act punishable by law that is committed through opportunity created in the course of an occupation that is legal
Major locations of S & L fraud
Occupational crime
Ponzi scheme
ABSCAM
43. 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.
Fiduciary fraud
Phoenician
Money laundering
Oliver North
44. 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
John Dean
Blue Wall of Silence
Control fraud characteristics
Organizational crime
45. 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
Phoenician
Multiple Employer Welfare Arrangements (MEWAs)
Medical fraud
Cost of S & L scandal
46. Has to do with medical fraud
Tightrope enforcement
Hadacol
Control fraud characteristics
First Pension Corporation
47. 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 $
Techniques of neutralization
Ed Gray
Daisy chain
Phoenician
48. 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
Keating Five
Sarbanes-Oxley Act
White-collar crime
Telecommunications and traditional enforcement strategies
49. 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.
Rely tampons
Olga Romani
Collective embezzlement
American Continental Corporation
50. 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
Organizational crime
Estrella
Blue Wall of Silence
ABSCAM