1. _____ is defined as knowing and intentional participation in a scheme or artifice intended to obtain money or property through the use of interstate wire communication.
Answer
Correct Answer:
wire fraud
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2. _____ is crimes committed by an individual of high status in the course of his or her occupation. The U.S. Justice Department defines white-collar crime as an illegal act that employs deceit and concealment rather than the application of force to obtain money, property, or service, to avoid the payment or loss of money, or to secure a business or professional advantage.
Answer
Correct Answer:
white-collar crime
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3. Is travel Act interstate or foreign travel or use of the mails or of a facility in interstate or international commerce with the intent to distribute the proceeds of any specified unlawful activity or violence or to promote a specified unlawful activity and thereafter to commit or attempt to commit a crime?
Answer
Correct Answer:
True
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4. _____ is individuals who provide insider information.
Answer
Correct Answer:
tippers
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5. Is tippees individuals who receive insider information?
Answer
Correct Answer:
True
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6. _____ is known as criminal punishment of contracts, combinations, and conspiracies in restraint of interstate commerce.
Answer
Correct Answer:
Sherman Antitrust Act of 1890
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7. _____ is defined as a securities fraud statute that requires corporate executive officers to certify that corporate financial statements are accurate.
Answer
Correct Answer:
Sarbanes-Oxley Act
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8. _____ is spreading false information to drive up the price of a stock.
Answer
Correct Answer:
pump and dump
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9. Is occupational Safety and Health Act a federal law protecting workplace safety?
Answer
Correct Answer:
True
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10. _____ is known as financial transaction involving proceeds or property derived from unlawful activity.
Answer
Correct Answer:
money laundering
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11. _____ is defined as an individual is prohibited from using inside information obtained from a firm or corporation to trade in another corporation’s stock.
Answer
Correct Answer:
misappropriation doctrine
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12. _____ is knowing and intentional participation in a scheme or artifice intended to obtain money or property through the use of the mails to execute the scheme.
Answer
Correct Answer:
mail fraud
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13. Is insider trading use of confidential corporate information to buy or sell stocks?
Answer
Correct Answer:
True
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14. _____ is known as asking, accepting, receiving, or giving a thing of value as compensation or a reward for making an official decision.
Answer
Correct Answer:
graft
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15. _____ is defined as an intentional misrepresentation of a material existing fact with knowledge of its falsity, intended to induce another person to part with money, property, or a legal right.
Answer
Correct Answer:
fraud
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16. _____ is makes it illegal for an individual or company to bribe a foreign official in order to gain assistance in obtaining or retaining business.
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17. Is fiduciary relationship a duty of care owed by a corporate official to the stockholders in a corporation?
Answer
Correct Answer:
True
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18. _____ is known as crimes that threaten the natural environment, including harm to the air, water, land, and natural resources.
Answer
Correct Answer:
environmental crimes
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19. _____ is defined as the obligation to either make corporate information public or refrain from trading in the corporation’s stock.
Answer
Correct Answer:
disclose or abstain doctrine
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20. _____ is knowingly corrupt behavior by a public official in the exercise of his or her official responsibility.
Answer
Correct Answer:
crimes of official misconduct
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21. Is bribery of a public official offering an item of value to an individual occupying an official position to influence a decision or action?
Answer
Correct Answer:
True
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22. A small town has only two professional photographers. One of them recently purchased some expensive new equipment and thus raised his rates. After his competitor’s rate hike, the other lost business because customers thought it necessary to pay a higher price for quality services. Thus the second photographer also raised his rates, although he never got new equipment. Have these two engaged in antitrust violations?
Answer
Correct Answer:
No, there is no proof of any agreement to raise prices.
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23. Mark sold drugs here and there to make extra money. With minimal effort he made more than he needed to live. He decided to start a taxi business with the money he earned selling drugs. He had an interest in cars and was hopeful he could sell to customers needing a ride. Which crime would he most likely be charged with?
Answer
Correct Answer:
Money laundering
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24. The difference between bribery and graft is that graft does NOT require an intent to influence or be influenced.
Answer
Correct Answer:
True
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25. A high-ranking member of a nation-wide environmental preservation group has been slowly embezzling funds for three years. Which agency will most likely carry out an official investigation?
Answer
Correct Answer:
Federal Bureau of Investigations
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26. A fiduciary relationship is a duty of care possessed by corporate executives that requires them to protect the investments of the stockholders.
Answer
Correct Answer:
True
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27. A high-ranking corporate executive knows that a competing company is about to release a new product, which will cause his company’s stock to fall. With the permission of the board of directors, he releases this information to the public and then sells a good deal of his company’s stock to prevent taking too large of a loss. Has he committed insider trading?
Answer
Correct Answer:
No, he disclosed the information to the public.
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28. A man takes a second job to earn extra income. He is currently going through a divorce and wants to hide the income from his wife and her lawyers. He contacts a colleague who moves the money around through a series of loans to hide the source of the money. Has the man committed the crime of money laundering?
Answer
Correct Answer:
No, he did not obtain the money though illegal means.
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29. OSHA pursues all of the following classifications EXCEPT ______.
Answer
Correct Answer:
Specific
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30. The purpose of securities law is to ensure those who make significant amounts of money are always scrutinized.
Answer
Correct Answer:
False
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31. It is illegal for groups or persons to contribute money to a public official (including his or her election campaign) for the purpose of obtaining “favors.”
Answer
Correct Answer:
True
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32. A high-ranking corporate executive knows that a competing company is about to release a new product, which will cause his company’s stock to fall. He sends an email to a friend who owns his company stock, informing him of this new development. Has he committed insider trading?
Answer
Correct Answer:
Yes, he tipped others with nonpublic information.
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33. Which element is NOT required in order for the prosecution to demonstrate mail fraud?
Answer
Correct Answer:
A co-conspirator in the scheme
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34. A solar-panel construction company is discovered to have been dumping excess chemicals in an illegal manner. Which agency will most likely officially investigate this act?
Answer
Correct Answer:
Environmental Protection Agency
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35. A man goes to a new doctor to receive a routine physical exam. When he is asked to provide his identifying information he gives his brother’s information instead. His brother has been diagnosed with Parkinson’s disease, does not have insurance, and it would be very costly if not impossible for him to get insured. The man hopes to obtain a clean bill of health for his brother so he can get insurance and thus afford the life-saving treatment he needs. Have the brothers attempted to engage in health care fraud?
Answer
Correct Answer:
Yes, the misrepresented themselves to gain services.
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36. White-collar theft is differentiated from so-called street crime (or common crime) theft by the amount of money and/or value of goods taken by the criminal.
Answer
Correct Answer:
False
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Contemporary Criminal Law (U.S.) MCQs | Topic-wise
