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WCC Final Exam 166 Questions with Verified Answers,100% CORRECT
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WCC Final Exam 166 Questions with Verified Answers Economic & Technological Systems - Similarities - CORRECT ANSWER -Both cross international boundaries -More interdependent than independent -Workers possess specialized knowledge -WCC occur in both systems Facebok - Zuckerberg - WCC charge...

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  • November 10, 2024
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  • 2024/2025
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  • wcc final exam 166 questions with verified answers

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WCC Final Exam 166 Questions with Verified Answers
Economic & Technological Systems - Similarities - CORRECT ANSWER -Both cross
international boundaries
-More interdependent than independent
-Workers possess specialized knowledge
-WCC occur in both systems

Facebok - Zuckerberg - WCC charges: - CORRECT ANSWER -Copyright infringement
-Securities fraud
-Misuse of computer information

Crimes in the Economic System - CORRECT ANSWER • Includes banks, investment
companies, stock markets across the world, commodities markets, and other
exchanges and markets where individuals are able to make investments, purchase
raw materials, and secure goods.

investment frauds - CORRECT ANSWER · Crimes in the economic system can be
classified as ____________.

Investment Fraud: - CORRECT ANSWER when investments made by consumers
are managed/ influenced fraudulently by stockbrokers or other officials in the
economic system.

Commodities Fraud: - CORRECT ANSWER fraudulent sale of raw materials such as
gas, oil, gold, and agricultural materials.

•Warm weather
•Proximity to other countries
•Established telemarketing firms - CORRECT ANSWER Commodities Fraud
prevalent in FL - Why? (3)

Types of Securities and Commodities Fraud - CORRECT ANSWER -Market
Manipulation

,-Broker Embezzlement
-Hedge fund fraud
-Insider trading
-Futures trading fraud
-Foreign exchange fraud, high-yield investment schemes, and advanced-fee fraud
-Ponzi and pyramid schemes

Market Manipulation "pump and dump" - CORRECT ANSWER o Where
executives/officials do things to artificially inflate trading volume and
subsequently affect the price of the commodity or security.
o Prevalent in gas & electricity markets

Enron: - CORRECT ANSWER transferred energy out of California to evade price
caps-allowed the company to charge more for energy than what it was worth.

Market Power: - CORRECT ANSWER manipulate the market through aggressive
buying and selling strategies.

Fraud Based: - CORRECT ANSWER manipulate the market by distorting
information.

(1) Commodity Exchange Act
(2) The Energy Policy Act of 2005
(3) The Energy Independence and Security Act of 2007 - CORRECT ANSWER 3
Federal laws exist to "prohibit manipulation of various energy commodities and
empower federal agencies to impose penalties:

FTC: Mission / Created by - CORRECT ANSWER -Our mission: to prevent business
practices that are anticompetitive. Deceptive, or unfair to consumers
-Created by Woodrow Wilson in response to trusts and monopolies.

The FTC investigates - CORRECT ANSWER issues raised by reports from
consumers, businesses, pre-merger filings, congressional inquiries, or media
reports
False advertising
Fraud
Identity theft

, Broker Fraud: - CORRECT ANSWER occurs when brokers fail to meet their legal
obligations to investors. Fail to tell clients important information on how to invest
their money properly.

Broker Embezzlement: - CORRECT ANSWER occurs when brokers take money that
is supposed to be in an investment account and use it for their own personal use.

Hedgefund: - CORRECT ANSWER private investment partnership of high net worth
clients

Hedge Fund Fraud: - CORRECT ANSWER refers to fraudulent act perpetrated in
hedge fund systems.
•Lie on account status in order to make commission.

Strategies against hedge fund fraud - CORRECT ANSWER -Hiring external agencies
to do internal compliance
-Developing a hedge fund information depository
-Conducting routine assessments of compliance officers with the aim of
evaluating their effectiveness.

Insider trading regularly occurs... - CORRECT ANSWER (occurs) in hedge funds.

Insider trading (within hedge funds) - CORRECT ANSWER -When individuals
share/steal information that is "material in nature" for future investments.
• Stock values, mergers, etc
• Usually more than one person

"Material in nature": - CORRECT ANSWER information that must be significant
enough to have affected the company's stock price had the information been
available to the public.

• Futures trading Fraud: - CORRECT ANSWER refers to fraud occurring in the
trading of futures contracts and options on the futures trading market.

• Futures Contracts: - CORRECT ANSWER agreements to buy or sell a given unit of
commodity at some future date.

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