ACFE CFE-Law Dumps - 100% Cover Real Exam Questions (Updated 220 Questions)
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NEW QUESTION # 122
Under the best practices listed in the Financial Action Task Force (FATF) Recommendations concerning large cash transactions with customers which of the following transactions would require a report to be Wed with the government?
- A. A lump-sum cash deposit to a bank above the jurisdiction's designated threshold
- B. An international purchase of a small boat with a lump-sum cash payment below the jurisdiction's designated threshold
- C. A domestic credit card purchase of a piece of jewelry above the jurisdiction's designated threshold
- D. A cash payment to a restaurant supplier for restaurant supplies above the jurisdiction's designated threshold
Answer: A
Explanation:
This question tests your knowledge of Domain 5.
In the context of Money Laundering, specifically relating to FATF, the question asks about large cash transactions with customers which of the following transactions would require a report to be Wed with the government, FATF.
The correct answer is D: A lump-sum cash deposit to a bank above the jurisdiction's designated threshold.
This question addresses money laundering concepts. The correct answer correctly identifies the stage, method, or regulatory framework related to money laundering or anti-money laundering efforts. Understanding these processes is critical for fraud examiners working to detect and prevent financial crimes.
References:
- CFE Exam Content Outline: Domain 5: Money Laundering
- FATF
- Fraud Examiners Manual, Law Section
NEW QUESTION # 123
Bob receives a memorandum from his attorney that is protected by a legal professional privilege Bob emails the memorandum to a third party who has no need to know the information in the memorandum Which of the following statements is MOST ACCURATE?
- A. Bob might have waived the privilege because he transmitted the protected information to a third party who has no need to know the information
- B. Bob did not walve the privilege because the legal professional privilege belongs to the attorney, not the client
- C. Bob did not waive the privilege because the legal professional privilege cannot be waived by transmitting protected information to a third party
- D. Bob might have waived the privilege because he used email to transmit the protected information.
Answer: A
Explanation:
This question tests your knowledge of Domain 10.
In the context of Basic Principles of Evidence, specifically relating to privilege, the question asks about MOST ACCURATE.
The correct answer is B: Bob might have waived the privilege because he transmitted the protected information to a third party who has no need to know the information.
This question tests knowledge of evidence principles. The correct answer correctly distinguishes between types of evidence, admissibility requirements, or evidentiary privileges. Proper handling of evidence is crucial for successful fraud investigations and prosecutions.
References:
- CFE Exam Content Outline: Domain 10: Basic Principles of Evidence
- privilege
- Fraud Examiners Manual, Law Section
NEW QUESTION # 124
Each day, Rachel purchases $14 500 in bearer instruments with cash from a bank where all currency transactions above 515,000 must be reported to the government Rachets actions are a red flag of which of the following schemes'?
- A. Channel stuffing
- B. Structuring
- C. Real estate laundering
- D. Alternative remittance system
Answer: B
Explanation:
This question tests your knowledge of Uncategorized.
the question asks about the core concepts in this area.
The correct answer is C: Structuring.
This question tests your understanding of key fraud examination concepts and legal principles.
References:
- CFE Exam Content Outline: Uncategorized
- Fraud Examiners Manual, Law Section
NEW QUESTION # 125
The Organisation for Economic Co-operation and Developments (OECD) Recommendation on Combating Bribery m International Business (Recommendation) urges member states to combat the bribery of foreign public officials by taking steps to improve which of the following primary areas within their respective infrastructures?
- A. Public health and safety regulations
- B. Laws and regulations related to public subsidies licenses, and contract procurement
- C. Laws and regulations covering e-commerce
- D. Consumer data protection laws
Answer: B
Explanation:
This question tests your knowledge of Domain 2.
In the context of The Law Related to Fraud, specifically relating to bribery, the question asks about OECD.
The correct answer is B: Laws and regulations related to public subsidies licenses, and contract procurement.
This question addresses fraud-related laws. The correct answer identifies the proper legal concept or violation that applies in the described scenario. Fraud examiners must understand these legal principles to properly identify and address fraudulent activities.
References:
- CFE Exam Content Outline: Domain 2: The Law Related to Fraud
- bribery
- Fraud Examiners Manual, Law Section
NEW QUESTION # 126
In most civil law systems, the burden of proof for the government to convict a defendant in a criminal case is beyond a reasonable doubt.
- A. False
- B. True
Answer: A
NEW QUESTION # 127
To determine if a misrepresentation in the offer or sale of any securities is material a fraud examiner should answer which of the following questions?
- A. ''Did the person who made the representation intend to mislead potential investors?
- B. "Was the misrepresentation made by an authorized individual?"
- C. "Did the person who made the representation believe that it was suitable for potential investors?"
- D. "Would a reasonable investor wish to know the information to make an informed decision?"
Answer: D
Explanation:
This question tests your knowledge of Domain 2.
In the context of The Law Related to Fraud, specifically relating to misrepresentation, the question asks about the core concepts in this area.
The correct answer is C: "Would a reasonable investor wish to know the information to make an informed decision?".
This question addresses fraud-related laws. The correct answer identifies the proper legal concept or violation that applies in the described scenario. Fraud examiners must understand these legal principles to properly identify and address fraudulent activities.
NEW QUESTION # 128
Allison works for a government contractor She informs the government that her employer has been submitting false claims to the government for payment Later it is discovered that Allison has misappropriated more than $50,000 of her employer's money Alison qualifies as a whistleblower entitled to anti-retaliation protection under the law because of her report to the government Which of the following statements about Allison is CORRECT?
- A. Alison cannot be fired for informing the government of her employee's fraud
- B. Allison cannot be fired for misappropriating funds from her employer
- C. Allison cannot be fired for any reason
- D. None of the above
Answer: A
Explanation:
This question tests your knowledge of Domain 7.
In the context of Individual Rights During Examinations, specifically relating to employee, whistleblower, the question asks about Allison is CORRECT, CORRECT.
The correct answer is C: Alison cannot be fired for informing the government of her employee's fraud.
This question relates to individual rights during examinations. The correct answer accurately describes the legal protections, obligations, or privacy considerations that apply in workplace investigations. Fraud examiners must balance investigative needs with legal protections for individuals.
References:
- CFE Exam Content Outline: Domain 7: Individual Rights During Examinations
- employee
- whistleblower
- Fraud Examiners Manual, Law Section
NEW QUESTION # 129
Antonio is investigating Sam on behalf of their employer, XYZ Company. During the investigation, Antonio tells a group of their coworkers who are not involved in the investigation that he discovered Sam has a serious gambling addiction, which is true. Assuming that their jurisdiction has civil laws for all of the following causes of action, which one would give Sam the BEST chance for success if he decides to bring a civil action against Antonio?
- A. Defamation
- B. Public disclosure of private facts
- C. Negligent misrepresentation
- D. Slander
Answer: B
Explanation:
This question tests your knowledge of Domain 1.
In the context of Overview of the Legal System, specifically relating to civil, the question asks about XYZ, BEST.
The correct answer is A: Public disclosure of private facts.
This question relates to the legal system framework. Understanding the distinction between different legal systems and processes is crucial for fraud examiners. The correct answer accurately describes the relationship between different legal entities and their jurisdictions.
References:
- CFE Exam Content Outline: Domain 1: Overview of the Legal System
- civil
- Fraud Examiners Manual, Law Section
NEW QUESTION # 130
Bob owns a struggling business called Luxury Rentals that has ten luxury vehicles. A week before Luxury Rentals files for bankruptcy, Bob transfers ownership of one of the vehicles to his wife. Which type of fraud scheme has Bob most likely committed?
- A. A fraudulent bankruptcy
- B. A concealed transfer
- C. A planned bustout
- D. A fraudulent conveyance
Answer: D
Explanation:
The correct answer is A. A fraudulent conveyance. The CFE Manual states that debtors often attempt to conceal assets by transferring them to another person or company, and a transfer is considered a fraudulent conveyance if its purpose is to hinder, delay, or defraud a creditor. In this question, Bob transferred one of the company's luxury vehicles to his wife just one week before the business filed for bankruptcy. That timing strongly suggests an attempt to move valuable property out of the reach of creditors before the bankruptcy estate is formed.
Option B is too broad because "fraudulent bankruptcy" is not the specific scheme described. Option C is not the standard label used in the Manual for this kind of transfer. Option D, a planned bustout, refers to a different scheme involving building up credit with suppliers and then collapsing the business without payment. The facts here center on the transfer of an asset to a related party to keep it away from creditors, which is the classic definition of a fraudulent conveyance under the CFE Law materials. Accordingly, A is the most accurate answer.
NEW QUESTION # 131
Which of the following is generally NOT one of the goals of deferred prosecution agreements?
- A. To reduce the risk of illegal practices at an organization
- B. To allow prosecutors to resolve a case while still punishing malfeasance
- C. To postpone prosecution until a company conducts an extensive internal investigation
- D. To get an organization to reform its policies
Answer: C
NEW QUESTION # 132
Which of the following is the MOST ACCURATE statement about the circumstances under which a conflict of interest claim would be actionable against an agent?
- A. The agent must have had an undisclosed interest m a matter that could influence their professional role
- B. The agent must have purported to act on behalf of or as an agent for an identified principal
- C. The agent must have informed the principal of their actions
- D. The agent must have been authorized by someone with actual authority to carry out the transaction at issue
Answer: A
Explanation:
This question tests your knowledge of Uncategorized.
the question asks about MOST ACCURATE, the circumstances under which a conflict of interest claim would be actionable against an agent.
The correct answer is B: The agent must have had an undisclosed interest m a matter that could influence their professional role.
This question tests your understanding of key fraud examination concepts and legal principles.
NEW QUESTION # 133
The Financial Action Task Force (FATF) Recommendations advise countries to do all of the following EXCEPT:
- A. Require financial institutions to monitor their customers' political affiliations.
- B. Use a risk-based approach when setting anti-money laundering policies
- C. Require financial institutions to keep certain records and establish anti-money laundering policies.
- D. Enable authorities to trace freeze, and confiscate assets suspected in money laundering and terrorist financing
Answer: A
Explanation:
This question tests your knowledge of Domain 5.
In the context of Money Laundering, specifically relating to money laundering, anti-money laundering, FATF, the question asks about EXCEPT, FATF.
The correct answer is C: Require financial institutions to monitor their customers' political affiliations..
This question addresses money laundering concepts. The correct answer correctly identifies the stage, method, or regulatory framework related to money laundering or anti-money laundering efforts. Understanding these processes is critical for fraud examiners working to detect and prevent financial crimes.
References:
- CFE Exam Content Outline: Domain 5: Money Laundering
- money laundering
- anti-money laundering
- FATF
- Fraud Examiners Manual, Law Section
NEW QUESTION # 134
Which of the following is NOT a legal element that must be shown to prove a claim for fraudulent misrepresentation of material facts?
- A. The defendant made a false statement (i, e., a misrepresentation of fact)
- B. The defendant acted negligently
- C. The victim suffered damages as a result of the misrepresentation
- D. The victim relied on the misrepresentation
Answer: B
Explanation:
This question tests your knowledge of Domain 2.
In the context of The Law Related to Fraud, specifically relating to misrepresentation, the question asks about NOT.
The correct answer is B: The defendant acted negligently.
This question addresses fraud-related laws. The correct answer identifies the proper legal concept or violation that applies in the described scenario. Fraud examiners must understand these legal principles to properly identify and address fraudulent activities.
References:
- CFE Exam Content Outline: Domain 2: The Law Related to Fraud
- misrepresentation
- Fraud Examiners Manual, Law Section
NEW QUESTION # 135
Jackson believes he has a legal cause of action against Alice, who lives in a foreign country. The fact that Jackson is the plaintiff allows him to bring the lawsuit against Alice in any court in the country where he lives.
- A. True
- B. False
Answer: A
Explanation:
This question tests your knowledge of Uncategorized.
the question asks about the core concepts in this area.
The correct answer is A: True.
This question tests your understanding of key fraud examination concepts and legal principles.
NEW QUESTION # 136
Which of the following statements concerning civil trials in common law jurisdictions is MOST ACCURATE?
- A. Jury verdicts m civil trials must always be unanimous
- B. in most civil cases, the standard of proof is the preponderance of the evidence
- C. Neither side may appeal an adverse judgment in a civil case
- D. Civil jury trials must have the same number of jurors as in criminal jury trials.
Answer: A
Explanation:
This question tests your knowledge of Domain 1.
In the context of Overview of the Legal System, specifically relating to criminal, civil, common law, the question asks about MOST ACCURATE, civil trials in common law jurisdictions is MOST ACCURATE.
The correct answer is C: Jury verdicts m civil trials must always be unanimous.
This question relates to the legal system framework. Understanding the distinction between different legal systems and processes is crucial for fraud examiners. The correct answer accurately describes the relationship between different legal entities and their jurisdictions.
NEW QUESTION # 137
Mya has been retained as an expert witness to provide testimony for a trial. Which of the following statements describes the primary purpose of Mya's testimony?
- A. Mya will assist the fact finder by providing specialized knowledge that will help them understand evidence.
- B. Mya will assist the fact finder by providing specialized knowledge on the admissibility of evidence in the case.
- C. Mya will assist the fact finder by drawing conclusions on the credibility of other witnesses.
- D. Mya will assist the fact finder by drawing conclusions regarding the accused's guilt or innocence.
Answer: A
Explanation:
This question tests your knowledge of Domain 11.
In the context of Testifying, specifically relating to expert witness, testimony, the question asks about the core concepts in this area.
The correct answer is D: Mya will assist the fact finder by providing specialized knowledge that will help them understand evidence..
This question relates to expert witness testimony. The correct answer accurately describes the role, qualifications, or techniques for effective expert testimony. Fraud examiners often serve as expert witnesses and must understand these principles. Expert witnesses provide specialized knowledge to help the fact finder understand complex issues. Their testimony must be relevant, reliable, and based on sufficient facts or data.
References:
- CFE Exam Content Outline: Domain 11: Testifying
- expert witness
- testimony
- Fraud Examiners Manual, Law Section
NEW QUESTION # 138
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