Deck 8: Business Crimes

Question 1

According to the Miranda warnings, the attorney of the suspected criminal cannot be present when the suspected criminal is being questioned.

Answer 1

False
Explanation: The Miranda warnings, outlined in the Miranda v. Arizona 3 case, are the following: "You have the right to remain silent. Anything you say can and will be used against you in a court of law. You have the right to speak to an attorney, and to have an attorney present during any questioning. If you cannot afford a lawyer, one will be provided for you at government expense."

Question 2

The Fifth Amendment provides constitutional protection against self-incrimination.

Answer 2

True
Explanation: The Fifth Amendment provides constitutional protection against self-incrimination.

Question 3

A person cannot be compelled to testify against himself or herself as to criminal matters and can refuse to talk to the police about any crime that he or she might have committed.

Answer 3

True
Explanation: The Fifth Amendment provides constitutional protection against self-incrimination. This means that you cannot be compelled to testify against yourself as to criminal matters and can refuse to talk to the police about any crime that you might have committed. The reason for this is that if the government thinks that you have committed a crime it is up to them to prove it.

Question 4

Embezzlement is a breach of trust done for private gain by an employee or agent of the corporation.

Question 5

Under the constitution, businesses are protected from illegal searches and seizures by the Fourth Amendment much like individuals are.

Question 6

The securities laws are made to protect people from bad investment decisions.

Question 7

In the case of bid rigging the bidders agree ahead of time who will win the award.

Question 8

Price discrimination is an antitrust violation under the Sherman Act.

Question 9

Most business crimes are referred to as _____ crimes.

A) blue collar
B) violent
C) white collar
D) hidden

Question 10

Conspiracy is the willful and corrupt false swearing or affirming, under oath, as to a material matter in question.

Question 11

As per the Sarbanes-Oxley Act, the financial reports of the corporation should be certified by the corporate officers.

Question 12

Price fixing occurs when different purchasers of the same product are charged differently for an item that costs the same to produce if the purpose is to decrease competition or create a monopoly.

Question 13

Ponzi and pyramid schemes are frauds included in the category of financial institution frauds.

Question 14

White collar crimes usually involve the threat of physical force or violence.

Question 15

Collusion and the forming of a cartel are easier when the market has a large number of competitors.

Question 16

If a business chooses to dump toxic waste into a city's storm drains, it is an example of _____.

A) crime of apartheid
B) white collar crime
C) blue collar crime
D) piracy

Question 17

Which of the following statements is true regarding white collar crime?

A) White collar crimes usually target specific victims.
B) It usually involves the threat of physical force.
C) Many white collar crimes are violent.
D) It uses deceit and concealment.

Question 18

Copyright and trademark violations are example of frauds included under the category of public corruption.

Question 19

While defendants have a right to bail, that right is not absolute.

Question 20

The Fourth Amendment prohibits the making of any law infringing on the freedom of speech and freedom of press.

Question 21

The Fifth Amendment:

A) protects a person against unreasonable searches and seizures by the police or other government official.
B) provides constitutional protection against self-incrimination.
C) prohibits the making of any law infringing on the freedom of speech and freedom of press.
D) protects the right of the people to keep and bear arms.

Question 22

_____ occurs if you learn of some information and pass it on to others, such as friends, a spouse, or other relatives and they act on the information to their benefit.

A) Perjury
B) Embezzlement
C) Conspiracy
D) Misappropriation

Question 23

Once a crime has been reported or sufficiently investigated to establish that the person has committed the crime, the person is taken into custody by the police either on the scene of the crime, or through the use of a(n) _____.

A) deed
B) summons
C) arrest warrant
D) circular

Question 24

Which of the following is the most prominent criminal activity involving fraud on the securities market?

A) Pyramid scheme
B) Perjury
C) Ponzi scheme
D) Insider trading

Question 25

You are in possession of information that indicates a big merger between two corporations is about to occur, you might purchase shares of the corporation's stock so that when the merger is announced and the stock value increases, you will have received the benefit of that increase to the detriment of the public who did not know that information. This is an example of:

A) ponzi scheme.
B) embezzlement.
C) insider trading.
D) perjury.

Question 26

_____ includes fraud involving the delivery of benefits through domestic programs provided by the government including Social Security, Temporary Assistance for Needy Families (formerly AFDC), and other entitlement programs.

A) Financial institution fraud
B) Economic crimes
C) Public corruption
D) Fraud against the government

Question 27

The _____ Amendment provides the defendant the right to a speedy trial, the right to subpoena witnesses to speak on his or her behalf, the right to confront witnesses, and the right to a jury of his or her peers.

A) First
B) Sixth
C) Second
D) Third

Question 28

The Eighth Amendment:

A) establishes our constitutional right to an attorney through the important phases of the criminal process.
B) protects us against the imposition of cruel and unusual punishment by the government.
C) prohibits the making of any law infringing on the freedom of speech and freedom of press.
D) provides constitutional protection against self-incrimination.

Question 29

Which of the following is an example of crimes included under the public corruption category?

A) Copyright violation
B) A federal public official engaged in covert payoffs.
C) Embezzlement
D) Securities fraud

Question 30

Which of the following Amendments ensures our right to bail?

A) The Fourth Amendment
B) The Fifth Amendment
C) The Seventh Amendment
D) The Eighth Amendment

Question 31

Ponzi and pyramid schemes are most likely to be examples of _____.

A) fraud against the government
B) health care fraud
C) economic crimes
D) public corruption

Question 32

Which of the following statements is true regarding the Fifth Amendment?

A) The Fifth Amendment protects the right of the people to keep and bear arms.
B) According to the Fifth Amendment you cannot refuse to talk to the police about any crime that you might have committed.
C) According to the Fifth Amendment you can be compelled to testify against yourself as to criminal matters.
D) Miranda warnings are partly based on the Fifth Amendment.

Question 33

Which of the following frauds involves someone, usually a corporate insider, buying or selling a security while in possession of inside information?

A) Pyramid scheme
B) Insider trading
C) Perjury
D) Ponzi scheme

Question 34

According to the Miranda warnings:

A) you cannot refuse to talk to the police about any crime that you might have committed.
B) you can be compelled to testify against yourself as to criminal matters.
C) you have the right to remain silent.
D) the attorney of a suspected criminal cannot be present when the suspected criminal is being questioned by the police.

Question 35

The Sixth Amendment:

A) establishes our constitutional right to an attorney through the important phases of the criminal process.
B) provides constitutional protection against self-incrimination.
C) prohibits the making of any law infringing on the freedom of speech and freedom of press.
D) protects the right of the people to keep and bear arms.

Question 36

All of the following statements is true regarding the constitutional rights of a business EXCEPT:

A) the Eighth Amendment's prohibition against cruel and unusual punishment has no application to corporate punishment.
B) the Sixth Amendment gives the corporation the right to counsel through its officers or agents.
C) businesses are not protected from illegal searches and seizures by the Fourth Amendment.
D) corporations have no Fifth Amendment rights against self-incrimination.

Question 37

The Fourth Amendment:

A) protects a person against unreasonable searches and seizures by the police or other government official.
B) provides constitutional protection against self-incrimination.
C) prohibits the making of any law infringing on the freedom of speech and freedom of press.
D) protects the right of the people to keep and bear arms.

Question 38

Embezzlement and loan fraud are most likely to be examples of _____.

A) financial institution fraud
B) economic crimes
C) public corruption
D) health care fraud

Question 39

The theory behind holding corporate officers and managers liable for corporate crimes is similar to _____.

A) restitutio in integrum
B) rescue doctrine
C) Res ipsa loquitur
D) respondeat superior

Question 40

_____ are often called "blue sky" laws.

A) Securities laws
B) Laws related to piracy
C) The Internet related laws
D) The laws related to blue collar crime

Question 41

Which of the following is an antitrust crime?

A) Ponzi scheme
B) Bribery
C) Price discrimination
D) Insider trading

Question 42

The Public Company Accounting Oversight Board (PCAOB) was created by the _____.

A) Dodd-Frank Act
B) Deficit Reduction Act
C) Sarbanes-Oxley Act
D) Commodity Futures Modernization Act

Question 43

Which of the following crimes uses unfair marketing techniques and conduct designed to eliminate competition through unfair means?

A) Insider trading
B) Antitrust crimes
C) Embezzlement
D) Ponzi scheme

Question 44

Which of the following best represents an agreement between two or more persons to commit a crime or to conspire to commit an act that is not unlawful by unlawful means?

A) Perjury
B) Embezzlement
C) Conspiracy
D) Misappropriation

Question 45

_____ is the willful and corrupt false swearing or affirming, under oath, as to a material matter in question.

A) Misappropriation
B) Perjury
C) Embezzlement
D) Conspiracy

Question 46

Price discrimination involves:

A) a corporate insider, buying or selling a security while in possession of inside information.
B) bidders agreeing ahead of time who will win the award.
C) two or more competitors conspiring to sell a product for the same price.
D) charging different rates to different purchasers for an item that costs the same to produce.

Question 47

Explain the terms grand jury and arrest warrant.

Question 48

Which of the following crimes is most likely to occur if you leave your magnetic hotel entry card in your room at the end of your stay, thinking you didn't need it anymore?

A) Embezzlement
B) Insider trading
C) Copyright violation
D) Identity theft

Question 49

Price fixing occurs when:

A) bidders agree ahead of time who will win the award.
B) two or more competitors conspire to sell a product for the same price.
C) interference with the competitive bidding for the awarding of a contract.
D) different purchasers of the same product are charged differently for an item that costs the same to produce.

Question 50

It costs $1 to produce an item and there are 2 producers of that item. In order to be competitive, Producer 1 sells the items for $2 to all his purchasers, regardless of where they are located, which gives him a profit of $1 on each item. Producer 2, on the other hand, sells his items for $2 if they are located in an area that competes with Producer 2, but $1.50 if they are located in an area that doesn't compete with Producer 2 and this tactic is used to keep Producer 1 out of the market that's currently not served by him. This is an example of:

A) price discrimination.
B) price fixing.
C) bid rigging.
D) perjury.

Question 51

Price discrimination is an antitrust violation under the _____.

A) Federal Trade Commission Act
B) Robinson-Patman Act
C) Sherman Act
D) Clayton Act

Question 52

Entering into the agreement to perform an illegal act is called _____.

A) embezzlement
B) perjury
C) collusion
D) misappropriation

Question 53

The Resource Conservation and Recovery Act (RCRA) regulates the:

A) minimum standards for a safe work environment.
B) disposal and storage of hazardous waste.
C) minimum amount of wages for the workers who work in hazardous environment.
D) amount of natural resources that can be consumed by a business.

Question 54

What are white collar crimes?

Question 55

Bid rigging occurs when:

A) bidders agree ahead of time who will win the award.
B) two or more competitors conspire to sell a product for the same price.
C) interference with the competitive bidding for the awarding of a contract.
D) different purchasers of the same product are charged differently for an item that costs the same to produce.

Question 56

What are the various categories of white collar crimes?

Question 57

If two or more firms engage in a conspiracy to fix prices, they have formed a(n) _____.

A) oligopoly
B) monopoly
C) oligopsony
D) cartel

Question 58

Price fixing is an antitrust violation under the _____.

A) Dodd-Frank Act
B) Deficit Reduction Act
C) Sherman Act
D) Commodity Futures Modernization Act

Question 59

Which of the following is most likely to be an ancillary charge that often gets added on to the more serious charge by the prosecutor because of the frequency with which it occurs in conjunction with the underlying crime?

A) Embezzlement
B) Bribery
C) Insider trading
D) Perjury

Question 60

A bank teller takes funds from the cash drawer in the bank. This is an example of _____.

A) embezzlement
B) perjury
C) collusion
D) misappropriation

Question 61

Discuss the Sixth Amendment.

Question 62

What is bid rigging?

Question 63

Discuss sentencing guidelines.

Question 64

Discuss the fourth amendment.

Question 65

Discuss the Sarbanes-Oxley Act.

Question 66

What are the Miranda warnings?

Question 67

Define perjury.

Question 68

Discuss price fixing.

Question 69

What is price discrimination?

Question 70

What are the various constitutional rights of business?

Question 71

What is insider trading?

Question 72

What is misappropriation?

Question 73

What is embezzlement?

Question 74

Discuss the following statement: While defendants have a right to bail, that right is not absolute.

Question 75

Discuss the Fifth Amendment.