Exam 8: Crime in the Economic System

List one of the two factors that enabled Bernie Madoff to continue running his Ponzi scheme for more than 17 years.

Which of the following is a warning sign for mortgage fraud?

An offender working with a network of conspirators to commit crimes is an example of what pattern typical in investment fraud?

Misrepresenting pre-loan counseling can be a type of reverse mortgage fraud.

Which type of mortgage fraud involves investors convincing financially distressed homeowners to "hire" them to buy the home?

List and define one type of futures trading fraud.

Discuss the differences between a Ponzi and pyramid scheme.

List three types of fraudulent activities that occur under reverse mortgage fraud.

Market manipulation by energy companies is restricted under which statute?

When appraisers intentionally do not conduct a thorough determination of a home's value, they are committing what type of fraud?

What are crimes in the economic system usually classified as?

When officials pump up the prices of stocks by sharing false information online and then subsequently sell their own stocks at a higher price, what crime have they committed?

Crimes in the economic system are generally classified as investment fraud and banking fraud.

What type of fraud do builders commit?

Which type of crime is believed to be pervasive in the natural energy industry?

When does a short sale of a foreclosed home become mortgage fraud?

Imagine you are taking a test in a class where one classmate was able to access the test questions ahead of time through a friend. What type of crime in the economic system is this analogy most similar to?

Exclusively using one appraiser can be a warning sign of mortgage fraud.

Define "white-collar gangs."

For straw buying schemes to be successful, appraisers must provide inflated appraisals.