WCC Exam 1|109 Questions with Verified Answers,100% CORRECT
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WCC Exam 1|109 Questions with Verified Answers
What is white collar crime (WCC)? It is defined as? By? - CORRECT ANSWER Edwin Sutherland Crimes committed by a person of respectability and high social status. Lying cheating stealing. Social science construct.
Who was John D. Rockefeller - CORR...
WCC Exam 1|109 Questions with Verified Answers
What is white collar crime (WCC)? It is defined as? By? - CORRECT ANSWER Edwin
Sutherland Crimes committed by a person of respectability and high social status.
Lying cheating stealing. Social science construct.
Who was John D. Rockefeller - CORRECT ANSWER American businessman, oil
monopolist, controlled refineries, destroyed competitor, was indicted
Be familiar with Al Capone and the roaring 20s - CORRECT ANSWER Chicago crime
boss, very influential, powerful, prohibition era, tried convicted sentenced. 18th
amendment started the prohibition and the 20th ended it. Prohibition outlawed
consumption, manufacturing and distribution of alcohol. He got caught for not
paying taxes
What is a Ponzi scheme? Who was Charles Ponzi? - CORRECT ANSWER Taking
money from one person, using it to pay you then take money from someone else
to pay first person. Rob peter to pay Paul. He promised 50% return w/in 45 days.
86 counts of mail fraud, Sentenced 14 years.
The 1980s is classified as 'the greed decade'. Why? - CORRECT ANSWER FBI
investigated 1825 cases of WCC
Explain why it is very difficult to accurately identify and measure instances of
WCC. How costly is WCC? - CORRECT ANSWER Most people deemed WCC to be
less than street crime most of the crime is un reported bc: relationship with
offender, embarrassed they were victimized, afraid of punishment, don't know it
happened, not worth reporting
WCC cost $300 bill annually
Discuss the concept of caveat emptor. - CORRECT ANSWER Let the buyer beware,
buying items at low prices, taking a risk of getting poor goods.
Bait and switch - CORRECT ANSWER Insincere offer to sell a product or service
which the advertiser does not intend or want to sell.
,§Customers see the obsolete model (bait)
§Pressured to buy a less known and more expensive brand (switch)
Price fixing - CORRECT ANSWER Criminalized under Sherman Antitrust act of
1890- came of age in 1911. Government commitment to price fixing regulation
has been erratic.
Bid-Rigging Schemes - CORRECT ANSWER collusive fraud wherein an employee
helps a vendor illegally obtain a contract that was supposed to involve
competitive bidding
Price gouging - CORRECT ANSWER Taking advantage of consumers because of bias
of the law, monopoly of the market or contrived shortages
consumer safety is sometimes disregarded due to? - CORRECT ANSWER
Resistance against safety devices. Defect in design
dumping - CORRECT ANSWER third world countries our recalled goods for a small
fee
Adulterated food - Upton Sinclair. Novel? The jungle Described what? Cases per
year? Deaths? - CORRECT ANSWER Unsanitary practices in meatpacking industry.
76 mill cases every year. 5k deaths in America per year
Alaskan oil spill of 1989- - CORRECT ANSWER devastating disaster, 10m gallons of
crude oil, effects were enormous
Water pollution and contamination - CORRECT ANSWER drinking water can be
contaminated by illegal dumping, can be unintentional, EPA estimates 30k waste
sites, cancer is related to water contamination.
Be familiar with Martin Shkreli. Founder and former CEO of? Why was he once
declared the most hated man in America? Explain. Also discuss his criminal case: -
CORRECT ANSWER raised price of epi pens, Turing Pharma, Pharma Bro, raised
price of Daraprim for people who have aids from 13.50 to 750. Securities fraud
(investment fraud) guilty for 3 counts 7 years
, chemical warfare - CORRECT ANSWER pollution
food additives
smoking
Discuss the case of James Arthur Ray. Who was Ray? Philosophy? What did he do?
Criminal involvement? Outcome of his case? Explain. - CORRECT ANSWER Self
help author warrior retreatsSweat lodges, glass walks. If you can make it though
you are a tough person. 3 people died because his practices, sentenced to 2
years..
quackery - CORRECT ANSWER practice of pretending to cure
dishonest practices and claims to have special knowledge and skill in some field,
typically medicine
three types of quackery - CORRECT ANSWER Device, medical and nutritional
Water pollution and contamination: - CORRECT ANSWER drinking water can be
contaminated by illegal dumping, can be unintentional, EPA estimates 30k waste
sites, cancer is related to water contamination.
Air pollution? Vulnerable zones. Homer City, PA? - CORRECT ANSWER mix of
substances, half our schools are located in what the gov calls "venerable zones"
most at-risk schools have been built near toxic chemicals
The problem with e-waste. Briefly discuss - CORRECT ANSWER Computer
revolution moves society toward paperless office, third world countries have
become toxic waste safe havens, America disposes 2.9 mill tons of e-waste in
2006
OSHA - CORRECT ANSWER Occupational Safety and Health Administration
Tyson Foods - CORRECT ANSWER July 1999 2 PPL died only had to pay .0004% of
there earning that year. largest occupational settlement in history.. accidents
keep happening HABITUAL OFFENDER.
responsibility of OSHA - CORRECT ANSWER 1. employed must be provided a safe
work place
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