This term is related to affiliate programs and refers to affiliate programs that pay per impression (CPM)
Fraudulent activity occurs when someone is deliberately loading a page to earn enough impression to qualify for payment , activity similar to fraudulent clicks.
It sounds like a way to tamper with acutally unique page views as you click on certain links, either affiliate links or your own website links. I guess it is as mentioned above. It is done for the same reasons that people would click on their own affiliate ads that pay per click. It's the same concept and it cheats the advertisers and eventually causes loss not gain in profit.