Start Learning Certified Fraud Examiner (CFE) - Law Exam With CFE Law Exam Dumps

Start Learning Certified Fraud Examiner (CFE) – Law Exam With CFE Law Exam Dumps

Eleanor2024-10-14T15:24:04+00:00

By Eleanor ACFE, Certified Fraud Examiner(CFE)

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Page 1 of 4

1. Which of the following is NOT a right of the accused under the United Nations' (UN) International Covenant on Civil and Political Rights (ICCPR)?

Right of the accused to be informed of criminal charges

Right to be presumed innocent until proven guilty

Right to a trial by jury

Freedom from arbitrary arrests

2. Which of the following is an example of a trade-based money laundering scheme?

An importer and an exporter conspire to conceal illicit funds by creating invoices that understate the quantity of goods shipped internationally

An accountant overstates a restaurants revenues to hide illegal funds that are secretly laundered through the business

A drug cartel outside of the United States launders illicit funds by hiring runners to deposit small amounts of money in bank accounts throughout the United States

A businessperson deposits illicit funds into the bank account of a company they secretly own which then lends the funds back to them

3. Nora, a health care provider b convicted of health care fraud in criminal court After her conviction, the national health agency begins a proceeding to prohibit Nora from seeking reimbursement from government health care programs for five years.

Which type of administrative penalty is the national health agency seeking?

License suspension

Debarment

License revocation

Disenfranchisement

4. A business files for bankruptcy with the goal of obtaining relief from creditors so that it can rearrange its financial affairs and continue as a going concern.

Which of the following describes this type of bankruptcy proceeding?

Reorganization bankruptcy

Debt adjustment bankruptcy

Debt dismissal bankruptcy

Liquidation bankruptcy

5. Which of the following is generally NOT one of the goals of deferred prosecution agreements?

To postpone prosecution until a company conducts an extensive internal investigation

To get an organization to reform its policies

To allow prosecutors to resolve a case while still punishing malfeasance

To reduce the risk of illegal practices at an organization

6. Which of the following is the MOST ACCURATE statement about the litigation privilege in common law jurisdictions?

The primary purpose of the litigation privilege is to protect confidential communications between a client and the client's legal representative

The litigation privilege only protects documents and materials prepared by an attorney

The litigation privilege applies only while a trial is underway

The litigation privilege applies only to documents and materials prepared in anticipation of litigation

7. Which of the following statements about the International Organization of Securities Commissions (IOSCO) s TRUE?

IOSCO is a self-regulatory organization for companies that have securities traded on international securities markets

IOSCO provides a forum for regular cooperation on banking supervisory matters affecting developing nations

IOSCO is an oversight body responsible for issuing and enforcing regulations that govern all international securities markets

IOSCO is recognized as the international standard-setter for securities markets

8. Which of the following statements concerning the appointment of expert witnesses at that is accurate?

Generally, the court appoints the primary expert witnesses in inquisitorial jurisdictions.

Generally, only the parties may select expert witnesses in inquisitional jurisdictions.

Generally the court selects the primary expert witnesses in adversarial jurisdictions.

Generally, only the parties may select experts to introduce testimony in adversarial jurisdictions

9. In jurisdictions that allow criminal bargaining agreements the defendant's counsel generally has the discretion to determine whether a bargaining agreement is available to the defendant.

True

False

10. Which of the following is NOT one of the elements that the government must prove to establish a violation of a law criminalizing false statements to government agencies?

The government relied on the false statement

The defendant knew the statement was false

The defendant made a false statement

The false statement was material

Page 2 of 4

11. Which of the following statements concerning examinations of expert witnesses in most inquisitorial jurisdictions is accurate?

The expert has the discretion to determine the scope of the examinations

The judge is not allowed to question the expert's credibility under any circumstance

The parties determine the extent of consideration to be given to the expert's testimony

The parties are often allowed to question the expert's methods and analysis

12. Which of the following is NOT required for a contract transaction or scheme to be classified as an investment contract?

The expectation of making a profit

Profits derived solely from the investor's management activity

investment m a common enterprise

An investment of money or other asset

13. Which of the following is NOT a requirement of the European Union's (EU) General Data Protection Regulation (GDPR)?

An organization must delete a data subject's personal data automatically when the data are no longer m use.

An organization must have a documented lawful basis for collecting or processing personal data.

An organization generally must notify all affected data subjects without undue delay when a high-risk data breach occurs

An organization must confirm or deny that it possesses a data subject's personal data upon that individual's request

14. 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'?

Channel stuffing

Alternative remittance system

Structuring

Real estate laundering

15. Which of the following situations would constitute a violation of the US Foreign Corrupt Practices Act (FCPA)

A private

S company pays a S2.000 foreign corporation fee that is required in order to do business within the country

A private UK company transfers $25,000 to a Chilean public official to influence the award of lucrative overseas contracts.

A private U S company transfers $45,000 to a foreign official to influence the award of a public construction contract.

A private

S company transfers $100,000 to the sole proprietor of a Brazilian company to influence the award of a commercial imports contract.

16. 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?

"Did the person who made the representation believe that it was suitable for potential investors?"

"Was the misrepresentation made by an authorized individual?"

"Would a reasonable investor wish to know the information to make an informed decision?"

''Did the person who made the representation intend to mislead potential investors?

17. Which of the following, if available, would help an organization recover losses from an instance of internal fraud?

Privilege insurance

Customer liability policy

Fidelity insurance

Deposition

18. Under the World Bank Principles for Effective Insolvency and Credit/Debtor Regimes (World Bank Principles), which of the following parties should administer the debtor's estate in liquidation bankruptcy proceedings?

The jurisdiction's commerce department or equivalent agency

The creditor with the largest claim against the debtor

The debtor, supervised by an independent insolvency representative

An independent insolvency representative

19. Countries A and B both follow the Financial Action Task Force (FATF) Recommendations concerning cross-border transfers of currency Trevor is traveling from Country A to Country B while carrying $16,000 in cash which exceeds Country B's reporting threshold Trevor is required to disclose the amount of currency he is carrying to authorities in Country B.

True

False

20. In jurisdictions that allow for corporate criminal liability which of the following is typically required for the corporation to be vicariously liable for the acts of one of its employees?

Management was directly involved with the offense

Management knew of the underlying offense but did not correct it

The corporation had previous violations of a similar nature

The employee was acting within the scope of their employment

Page 3 of 4

21. Davis is an employee at Waccamaw Homeplace a publicly traded corporation Davis knows that Waccamaw is about to publicly announce a new joint venture project in China, so he buys shares of Waccamaw stock Assuming that his conduct was illegal m the jurisdiction in which he works and resides, what type of crime did Davis MOST LIKELY commit?

Churning

Futures fraud

Insider trading

Trading on margin

22. Which of the following is the MOST ACCURATE statement about the different types of alternative dispute resolution'?

The agreements reached in mediations are generally nonbinding.

In a mediation session, the mediator decides who should win the dispute at issue

The decisions reached in all arbitrations are always binding

In an arbitration proceeding the arbitrator acts as a judge or jury by deciding the dispute at issue on its merits

23. Smith, a Certified Fraud Examiner (CFE). works for the ABC Company, a private entity that operates w a jurisdiction with civil laws for defamation, invasion of privacy. and conflict of interest Smith seizes and searches the personal smartphone of Green an employee of ABC even though Green was not suspected of any wrongdong Assuming that Green had a reasonable expectation of privacy in the smartphone and Smith conducted the search without a legitmate interest or authority, under which of the following claims would Green MOST LIKELY be able to recover damages against Smith?

Slander

Intrusion into Green's private matters

Public disclosure of private facts

Conflict of interest

24. The Financial Action Task Force (FATF) Recommendations advise countries to do all of the following EXCEPT:

Use a risk-based approach when setting anti-money laundering policies

Require financial institutions to keep certain records and establish anti-money laundering policies.

Require financial institutions to monitor their customers' political affiliations.

Enable authorities to trace freeze, and confiscate assets suspected in money laundering and terrorist financing

25. Which of the following can affect the rights that employees may have during an internal investigation?

Existence of fraud risk factors

Existence of violation red flags

Existence of interstate compacts

Existence of an employment contract

26. 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?

The agent must have purported to act on behalf of or as an agent for an identified principal

The agent must have had an undisclosed interest m a matter that could influence their professional role

The agent must have informed the principal of their actions

The agent must have been authorized by someone with actual authority to carry out the transaction at issue

27. 1.Claude stole a large amount of cash from his employer and then deposited the funds into a domestic bank account Next, he wired the illicit funds to a foreign bank account and engaged m several other transactions using foreign accounts to make them difficult to trace Finally, he transferred the funds back to a domestic account and then spent the money.

Which of the following actions was the layering stage of Claude's money laundering scheme?

When he first deposited the funds into a domestic account

When he first stole the cash from his employer

When he moved the funds through several transactions using foreign accounts

When he spent the money

28. Company A sued Company B to recover damages tor the breach of a contract. In the same proceeding Company B sought damages for an allegation that Company A fraudulently induced Company B into entering the contract In this case what would Company B's claim against Company A be called?

Cross-claim

Collateral attack

Reversal

Counterclaim

29. Which of the following statements concerning fact finders in criminal trials in common law jurisdictions is MOST ACCURATE?

The presence of a jury is always required to make factual findings in a common law criminal trial

A panel of a professional judge and lay judges usually serves as the fact finder in serious cases

A judge is typically responsible for factual findings

Juries usually serve as the fact finder in serious cases

30. During a bankruptcy bustout scheme, or planned bankruptcy, the debtor committing the fraud typically performs which of the following actions?

Colludes with creditors and the trustee to pay some creditors but not ethers

Bribes a trustee to overlook assets in the debtor's possession

Conspires with suppliers to produce fraudulent invoices

Purchases large quantities of goods on credit

Page 4 of 4

31. The MOST COMMON bankruptcy fraud scheme is:

Forged filing

A planned bustcut

A credit card bustout

Concealment of assets

32. Which of the following statements about the appeals process in cranial cases is MOST ACCURATE?

In common law jurisdictions, appellate courts are generally not permitted to make their own factual determinations when reviewing a case

In civil law jurisdictions appellate courts are generally not permitted to make their own legal conclusions when reviewing a case

Appellate courts will usually hear an appeal even if the petition was not filed in a timely manner

Appellate courts will usually reverse a conviction even if the trial court's error did not affect the outcome of the case

33. The MAIN PURPOSE for maintaining the chain of custody on an item of evidence is to

Establish that the evidence has not been altered or changed from the time it was collected through its production in court

Verify that the item of evidence has only been handled by court officials prior to its production m court.

event opposing parties from accessing evidence without a court order

Eliminate re need to authenticate the item of evidence in court

34. Which of the following statements concerning civil trials in common law jurisdictions is MOST ACCURATE?

Civil jury trials must have the same number of jurors as in criminal jury trials.

Neither side may appeal an adverse judgment in a civil case

Jury verdicts m civil trials must always be unanimous

in most civil cases, the standard of proof is the preponderance of the evidence

35. 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?

Public health and safety regulations

Laws and regulations related to public subsidies licenses, and contract procurement

Laws and regulations covering e-commerce

Consumer data protection laws

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