1. Cheating on homework
2. Going out with younger students
3. Constantly asking for help with homework
4. Calling someone you don't know to find out what is on an upcoming test (see "Pulling an Ashwin")
5. Cheating on tests or quizzes by getting friends to grade them (mutual agreement to grade easily)
6. Insulting someone online and then apologizing in real life because you don't want to get beat up (See jcuda v. hzhang)
Chit almost always has a negative connotation.
Paul S: "Ahh, chitting around..."
Greg D: "..."
Andrew K: "..."
"Yo whats on the test tomorrow"
"Do I know you?"