2022 New CFE-Law Dumps - Real ACFE Exam Questions
Dependable CFE-Law Exam Dumps to Become ACFE Certified
NEW QUESTION 51
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?
- A. Liquidation bankruptcy
- B. Reorganization bankruptcy
- C. Debt adjustment bankruptcy
- D. Debt dismissal bankruptcy
Answer: B
NEW QUESTION 52
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. Allison cannot be fired for any reason
- B. None of the above
- C. Allison cannot be fired for misappropriating funds from her employer
- D. Alison cannot be fired for informing the government of her employee's fraud
Answer: D
NEW QUESTION 53
The same customer comes into a casino each day and deposits a large amount of cash into an account but after very little gambling the customer withdraws the funds The casino employees suspect that the customer may be engaged in money laundering activity Assuming that the anti-money laundering (AML) regulations that govern the casino's activities correspond to the Financial Action Task Force (FATF) Recommendations the casino:
- A. May, but is not required to file a report of suspicious transactions related to possible money laundering with appropriate authorities
- B. May not file a report of suspicious transactions related to potential criminal activity with appropriate authorities
- C. Is required to file a report of suspicious transactions with appropriate authorities because the employees suspect money laundering violations
- D. Is required to file a cash transaction report for possible criminal activity with appropriate authorities because cash was involved
Answer: C
NEW QUESTION 54
During a trial in an adversarial system an attorney calls an expert witness to the stand and asks "Could you please describe the procedures you performed in your examination?'' Based on this question, which type of testimony is MOST LIKELY being presented'?
- A. Impeachment
- B. Request for admission
- C. Direct exam Ml mi
- D. Cross-examination
Answer: C
NEW QUESTION 55
Which of the following is NOT a requirement of the European Union's (EU) General Data Protection Regulation (GDPR)?
- A. An organization must have a documented lawful basis for collecting or processing personal data.
- B. An organization must delete a data subject's personal data automatically when the data are no longer m use.
- C. An organization generally must notify all affected data subjects without undue delay when a high-risk data breach occurs
- D. An organization must confirm or deny that it possesses a data subject's personal data upon that individual's request
Answer: A
NEW QUESTION 56
Which of the following schemes involves disguising money from illegal nonbusiness sources by recording more income on a business's books than the business actually generates?
- A. Overstate revenues
- B. Structured deposits
- C. None of re above
- D. Trade-based laundering
Answer: A
NEW QUESTION 57
Which of the following situations would constitute a violation of the US Foreign Corrupt Practices Act (FCPA)
- A. A private U S company transfers $45,000 to a foreign official to influence the award of a public construction contract.
- B. A private U.S company transfers $100,000 to the sole proprietor of a Brazilian company to influence the award of a commercial imports contract.
- C. A private UK company transfers $25,000 to a Chilean public official to influence the award of lucrative overseas contracts.
- D. A private U.S company pays a S2.000 foreign corporation fee that is required in order to do business within the country
Answer: A
NEW QUESTION 58
Ethan a U S resident, is running a Ponzi scheme As part of the scheme, he uses the U S mail system to send promotional materials to potential victims in France If the US government decides to prosecute Ethan, which of the following would provide the MOST LIKELY basis for the charges?
- A. Insider trading fraud
- B. Communications fraud
- C. Wire fraud
- D. Mail fraud
Answer: D
NEW QUESTION 59
Ellis works for a business that filed for bankruptcy. The administrator presiding over the bankruptcy contacts Ellis and requests information regarding his employer's financial affairs Assuming the administrator has all of the powers recommended in the World Bank Principles for Effective Insolvency and Creditor/Debtor Regimes (World Bank Principles) which of the following is TRUE?
- A. The administrator has no power to obtain the information under any circumstances
- B. The administrator may not obtain the information unless the business agrees in writing
- C. The administrator may compel Ellis to provide the information despite Ellis's relationship to the business
- D. The administrator may only seek information regarding the bus ness that filed bankruptcy if Ellis consents to providing it.
Answer: C
NEW QUESTION 60
Which of the following statements about the International Organization of Securities Commissions (IOSCO) s TRUE?
- A. IOSCO is a self-regulatory organization for companies that have securities traded on international securities markets
- B. IOSCO is recognized as the international standard-setter for securities markets
- C. IOSCO provides a forum for regular cooperation on banking supervisory matters affecting developing nations
- D. IOSCO is an oversight body responsible for issuing and enforcing regulations that govern all international securities markets
Answer: B
NEW QUESTION 61
All of the following are common legal defenses for tax evasion EXCEPT:
- A. Mental illness of the taxpayer
- B. The actions were tax avoidance not tax evasion
- C. Death of the taxpayer
- D. The taxpayer s reliance on an attorney or accountant
Answer: C
NEW QUESTION 62
If Mary uses legal means to lower her tax bill through legitimate deductions and credits she is engaging m tax evasion
- A. True
- B. False
Answer: B
NEW QUESTION 63
The MOST COMMON bankruptcy fraud scheme is:
- A. A credit card bustout
- B. Forged filing
- C. A planned bustcut
- D. Concealment of assets
Answer: D
NEW QUESTION 64
In most countries employers must provide notice to their employees before they implement an employee monitoring program
- A. False
- B. True
Answer: B
NEW QUESTION 65
Which of the following statements is TRUE regarding criminal proceedings and discovery in adversarial jurisdictions?
- A. Most criminal proceedings are divided into pretrial, investigative and trial phases
- B. Parties typically cannot request evidence from each other until after the trial begins.
- C. The majority of criminal discovery usually occurs before the trial begins.
- D. The judge is the primary driver of the discovery process in criminal proceedings.
Answer: D
NEW QUESTION 66
Which of the following statements concerning money services businesses (MSBs) is INCORRECT?
- A. MSBs are generally less strictly regulated than traditional financial institutions.
- B. A check cashing company is classified as an MSB.
- C. MSBs tend to have a tower money laundering risk than other financial institutions.
- D. A currency exchange is classified as an MSB.
Answer: A
NEW QUESTION 67
Which of the following statements concerning digital currencies, such as bitcoin, is MOST ACCURATE?
- A. Digital currencies are not typically used to launder money due to strict customer identification or recordkeeping requirements enforced in all jurisdictions
- B. Digital currencies are attractive to money launderers because payments often cross jurisdictional boundaries, making it difficult for authorities to pursue enforcement
- C. Digital currencies are subject to all of the same regulations as payments made through traditional financial institutions
- D. Digital currencies are attractive to money launderers because they are a payment method that provides complete anonymity
Answer: B
NEW QUESTION 68
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 been authorized by someone with actual authority to carry out the transaction at issue
- C. The agent must have informed the principal of their actions
- D. The agent must have purported to act on behalf of or as an agent for an identified principal
Answer: A
NEW QUESTION 69
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?
- A. Slander
- B. Public disclosure of private facts
- C. Conflict of interest
- D. Intrusion into Green's private matters
Answer: D
NEW QUESTION 70
Which of the following is the MOST ACCURATE statement about serf-regulatory organizations (SROs) in the securities industry?
- A. An SRO generally has sole regulatory authority over the securities industry in the jurisdiction in which it operates
- B. An SRO is a governmental entity that exercises regulatory authority over the securities industry in its jurisdiction
- C. In some jurisdictions SROs establish the standards and rules under which members of the securities industry operate
- D. In most jurisdictions. SROs are prohibited from participating in the resolution of disputes related to securities transactions
Answer: C
NEW QUESTION 71
Which of the following is the MOST ACCURATE statement about the UK Bribery Act?
- A. Like the FCPA the UK Bribery Act contains an explicit exception for facilitating payments
- B. Even if an organization's anti-corruption program complies with the FCPA, it might not be sufficient for the purpose of complying with the UK Bribery Act
- C. Unlike the FCPA. the UK Bribery Act makes it a crime to bribe a foreign public official in connection with international business transactions
- D. The UK Bribery Act only exercises jurisdiction over individuals and corporate entities for acts of corruption when the offense occurs outside the United Kingdom
Answer: B
NEW QUESTION 72
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?
- A. Counterclaim
- B. Cross-claim
- C. Collateral attack
- D. Reversal
Answer: A
NEW QUESTION 73
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?
- A. Disenfranchisement
- B. Debarment
- C. License revocation
- D. License suspension
Answer: D
NEW QUESTION 74
The________________requires that an employee act solely in the best interest of their employer, free of any serf-dealing, conflicts of interest, or other abuse that results in a personal advantage
- A. Duty of responsibility
- B. Duty of care
- C. Duty of loyalty
- D. Duty of employee trust
Answer: C
NEW QUESTION 75
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