Free CFE-Law Questions for ACFE CFE-Law Exam [Oct-2022]
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NEW QUESTION 34
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 loyalty
- B. Duty of employee trust
- C. Duty of care
- D. Duty of responsibility
Answer: A
NEW QUESTION 35
In most civil law jurisdictions which of the following BEST describes when a party is required to begin taking steps to preserve and produce relevant evidence?
- A. When the charging documents are filed
- B. When the court orders such steps to be taken
- C. When litigation has started
- D. When the party receives a service of process
Answer: C
NEW QUESTION 36
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. Alternative remittance system
- B. Real estate laundering
- C. Channel stuffing
- D. Structuring
Answer: D
NEW QUESTION 37
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. Is required to file a cash transaction report for possible criminal activity with appropriate authorities because cash was involved
- B. Is required to file a report of suspicious transactions with appropriate authorities because the employees suspect money laundering violations
- C. May not file a report of suspicious transactions related to potential criminal activity with appropriate authorities
- D. May, but is not required to file a report of suspicious transactions related to possible money laundering with appropriate authorities
Answer: B
NEW QUESTION 38
In most civil law systems, which of the following parties typically serves as the fact finder in criminal proceedings?
- A. A panel comprised of laypersons
- B. judge
- C. A jury
- D. A panel of court-appointed attorneys
Answer: B
NEW QUESTION 39
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.
- A. True
- B. False
Answer: B
NEW QUESTION 40
Tatiana is the chief executive officer (CEO) of Mattress World Warehouse, a retail mattress store that has been struggling financially A week before Mattress World Warehouse files for bankruptcy Tatiana sets ten mattresses to her husband at 80% below market value Which type of fraud scheme has Tatiana MOST LIKELY committed?
- A. A concealed transfer
- B. A fraudulent conveyance
- C. A planned bustout
- D. A fraudulent bankruptcy
Answer: A
NEW QUESTION 41
Which of the following can affect the rights that employees may have during an internal investigation?
- A. Existence of interstate compacts
- B. Existence of violation red flags
- C. Existence of fraud risk factors
- D. Existence of an employment contract
Answer: D
NEW QUESTION 42
The MAIN PURPOSE for maintaining the chain of custody on an item of evidence is to
- A. event opposing parties from accessing evidence without a court order
- B. Establish that the evidence has not been altered or changed from the time it was collected through its production in court
- C. Verify that the item of evidence has only been handled by court officials prior to its production m court.
- D. Eliminate re need to authenticate the item of evidence in court
Answer: B
NEW QUESTION 43
Evidence that tends to make some tact at issue more or less likely than it would be without the evidence is called:
- A. Testamentary evidence
- B. Circumstantial evidence
- C. Relevant evidence
- D. Demonstrative evidence
Answer: C
NEW QUESTION 44
Which of the following typically does NOT have to be present for communications between an attorney and the attorney's client to be protected by a legal professional privilege?
- A. Communication between a legal advisor and a client
- B. Purpose of the communications was to seek or provide legal advice
- C. A lawsuit has been filed
- D. Intent to keep the communications confidential
Answer: C
NEW QUESTION 45
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. Cross-examination
- B. Impeachment
- C. Request for admission
- D. Direct exam Ml mi
Answer: D
NEW QUESTION 46
All of the following are methods of pretrial civil discovery commonly found in common law jurisdictions EXCEPT:
- A. Oral examinations
- B. Written examinations
- C. Injunctions
- D. Affidavits of documents or records
Answer: C
NEW QUESTION 47
At the end of a civil proceeding, the court finds the defendant, a company, liable and orders it to pay a large sum of money to compensate for the plaintiffs losses. Which of the following BEST describes this type of remedy?
- A. Carnages
- B. Equitable relief
- C. Injunction
- D. Declaratory relief
Answer: A
NEW QUESTION 48
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 may not obtain the information unless the business agrees in writing
- B. The administrator may only seek information regarding the bus ness that filed bankruptcy if Ellis consents to providing it.
- C. The administrator has no power to obtain the information under any circumstances
- D. The administrator may compel Ellis to provide the information despite Ellis's relationship to the business
Answer: D
NEW QUESTION 49
Which of the following statements is TRUE regarding criminal proceedings and discovery in adversarial jurisdictions?
- A. The judge is the primary driver of the discovery process in criminal proceedings.
- B. The majority of criminal discovery usually occurs before the trial begins.
- C. Parties typically cannot request evidence from each other until after the trial begins.
- D. Most criminal proceedings are divided into pretrial, investigative and trial phases
Answer: A
NEW QUESTION 50
Which of the following is TRUE in regard to authenticating evidence in most common law systems?
- A. For evidence to be authenticated it must be reviewed and voted on by a jury
- B. The purpose of authentication is to ensure that hearsay is not admitted into evidence
- C. Digital records cannot be authenticated by testimony from a witness with personal knowledge
- D. Exhibits that cannot be authenticated will not be admitted regardless of relevance
Answer: B
NEW QUESTION 51
The MOST COMMON bankruptcy fraud scheme is:
- A. Forged filing
- B. A credit card bustout
- C. Concealment of assets
- D. A planned bustcut
Answer: C
NEW QUESTION 52
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?
- A. When he first stole the cash from his employer
- B. When he moved the funds through several transactions using foreign accounts
- C. When he spent the money
- D. When he first deposited the funds into a domestic account
Answer: B
NEW QUESTION 53
One of the purposes of securities regulation is to maintain market confidence.
- A. False
- B. True
Answer: B
NEW QUESTION 54
Which of the following is a legal element that must be shown to prove a claim for commercial bribery?
- A. The defendant failed to exercise due care.
- B. The defendant acted negligently.
- C. The principal suffered damages as a result of the bribe
- D. The defendant gave or received a thing of value.
Answer: D
NEW QUESTION 55
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?
- A. Futures fraud
- B. Churning
- C. Insider trading
- D. Trading on margin
Answer: C
NEW QUESTION 56
In a particular country's judicial process, the judge oversees the investigation of a case is primarily responsible for questioning witnesses and generally plays a larger role in the evidence-gathering process than the parties' legal counsel Which of the following BEST describes this type of judicial process'?
- A. Common law process
- B. Substantive law process
- C. Adversarial process
- D. Inquisitorial process
Answer: C
NEW QUESTION 57
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. False
- B. True
Answer: B
NEW QUESTION 58
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