ACFE CFE Law Certified Fraud Examiner (CFE) – Law Online Training
ACFE CFE Law Online Training
The questions for CFE Law were last updated at Nov 23,2024.
- Exam Code: CFE Law
- Exam Name: Certified Fraud Examiner (CFE) - Law
- Certification Provider: ACFE
- Latest update: Nov 23,2024
During a bankruptcy bustout scheme, or planned bankruptcy, the debtor committing the fraud typically performs which of the following actions?
- A . Colludes with creditors and the trustee to pay some creditors but not ethers
- B . Bribes a trustee to overlook assets in the debtor’s possession
- C . Conspires with suppliers to produce fraudulent invoices
- D . Purchases large quantities of goods on credit
Which of the following statements concerning examinations of expert witnesses in most inquisitorial jurisdictions is accurate?
- A . The expert has the discretion to determine the scope of the examinations
- B . The judge is not allowed to question the expert’s credibility under any circumstance
- C . The parties determine the extent of consideration to be given to the expert’s testimony
- D . The parties are often allowed to question the expert’s methods and analysis
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 . Churning
- B . Futures fraud
- C . Insider trading
- D . Trading on margin
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 provides a forum for regular cooperation on banking supervisory matters affecting developing nations
- C . IOSCO is an oversight body responsible for issuing and enforcing regulations that govern all international securities markets
- D . IOSCO is recognized as the international standard-setter for securities markets
Which of the following statements about the appeals process in cranial cases is MOST ACCURATE?
- A . In common law jurisdictions, appellate courts are generally not permitted to make their own factual determinations when reviewing a case
- B . In civil law jurisdictions appellate courts are generally not permitted to make their own legal conclusions when reviewing a case
- C . Appellate courts will usually hear an appeal even if the petition was not filed in a timely manner
- D . Appellate courts will usually reverse a conviction even if the trial court’s error did not affect the outcome of the case
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 . License suspension
- B . Debarment
- C . License revocation
- D . Disenfranchisement
Which of the following is generally NOT one of the goals of deferred prosecution agreements?
- A . To postpone prosecution until a company conducts an extensive internal investigation
- B . To get an organization to reform its policies
- C . To allow prosecutors to resolve a case while still punishing malfeasance
- D . To reduce the risk of illegal practices at an organization
Which of the following is an example of a trade-based money laundering scheme?
- A . An importer and an exporter conspire to conceal illicit funds by creating invoices that understate the quantity of goods shipped internationally
- B . An accountant overstates a restaurants revenues to hide illegal funds that are secretly laundered through the business
- C . 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
- D . A businessperson deposits illicit funds into the bank account of a company they secretly own which then lends the funds back to them
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?
- A . The jurisdiction’s commerce department or equivalent agency
- B . The creditor with the largest claim against the debtor
- C . The debtor, supervised by an independent insolvency representative
- D . An independent insolvency representative
Which of the following is the MOST ACCURATE statement about the litigation privilege in common law jurisdictions?
- A . The primary purpose of the litigation privilege is to protect confidential communications between a client and the client’s legal representative
- B . The litigation privilege only protects documents and materials prepared by an attorney
- C . The litigation privilege applies only while a trial is underway
- D . The litigation privilege applies only to documents and materials prepared in anticipation of litigation
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