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Investment Fraud and Ponzi Schemes Quiz

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Questions and Answers

What is a Ponzi Scheme?

A legal investment that generates high returns with little risk

An investment strategy where profits are reinvested for higher returns

A government-regulated fund for retirement savings

An investment fraud that pays existing investors with funds from new investors (correct)

What is the relationship between civil and criminal trials in Ponzi Schemes?

Criminal trials are for theft while civil trials deal with loss (correct)

Civil trials precede criminal trials in Ponzi Scheme cases

They both result in the payment of high returns to investors

They are separate trials handled in different countries

Why are laws important for business in underdeveloped countries?

To make laws predictable and adaptable (correct)

To complicate business operations

To eliminate competition

To hinder the growth of businesses

How does ethics differ from law according to the text?

Laws regulate actions, ethics study doing what's right Signup and view all the answers

'Grant 'CERT' when hear on appeal the rule of 4' refers to what in the legal context?

A requirement for US Supreme Justices to agree to grant CERT Signup and view all the answers

What is the primary role of District Courts in the American judicial system?

Serve as the fact finders and apply facts at trial Signup and view all the answers

What is the main difference between the 'Loser Pay' rule followed in most countries and the 'American Rule' in the USA?

In 'Loser Pay', the defendant pays the winner's attorney fees, while in the 'American Rule' each party pays their own attorney fees. Signup and view all the answers

How are State Judges and Federal Judges different in terms of their selection process?

State Judges are elected, while Federal Judges are nominated by the President and confirmed by the Senate. Signup and view all the answers

What is required for a case to be heard by the Supreme Court in America?

4 out of 9 Justices must vote in favor of hearing the case Signup and view all the answers

What distinguishes a Justice from a Judge in the American legal system?

Justices make legal decisions based on law and evidence, while Judges interpret and apply legal precedents. Signup and view all the answers