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ACFE CFE-Law - Certified Fraud Examiner (CFE) - Law

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Total 212 questions

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

A.

Right of the accused to be informed of criminal charges

B.

Right to be presumed innocent until proven guilty

C.

Right to a trial by jury

D.

Freedom from arbitrary arrests

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 deposited the funds into a domestic account

B.

When he first stole the cash from his employer

C.

When he moved the funds through several transactions using foreign accounts

D.

When he spent the money

The Financial Action Task Force (FATF) Recommendations suggest that countries should do which of the following?

A.

Use a risk-based approach when creating and establishing their anti-money laundering policies.

B.

Require financial institutions to monitor their customers ' social media activity for signs of money laundering.

C.

Only conduct business with other countries that comply with the anti-money laundering recommendations.

D.

Impose a sentence of five years of imprisonment for all money laundering and terrorist financing convictions.

Slater has been appointed as a bankruptcy administrator. According to the recommendations of the World Bank Principles for Effective Insolvency and Creditor/Debtor Regimes (World Bank Principles), which of the following statements concerning Slater ' s role as bankruptcy administrator is MOST ACCURATE?

A.

Slater may investigate all contracts the debtor entered into, but he does not have the power to cancel them without the debtor ' s permission.

B.

Slater may request relevant information from the debtor ' s agents or others with knowledge of the debtor ' s affairs, but he cannot force them to provide it.

C.

Slater may collect, preserve, and dispose of the debtor ' s property.

D.

Slater may not interfere with contracts signed by the debtor.

Which of the following would be direct evidence that the criminal defendant a former cashier for a home improvement store committed a cash larceny scheme that resulted in the theft of more than $5 000 from the store?

A.

A diagram is used to display the location of the store ' s registers

B.

A witness testifies that they saw the defendant take the money

C.

A witness testifies that the defendant was almost always the last cashier to leave the store

D.

A coworker testifies that the defendant was acting nervously the day the money was taken

Which of the following would be direct evidence that an employee committed a cash larceny scheme that resulted in the theft of $800 from their employer ' s safe?

A.

A coworker states that the employee appeared to be nervous on the day of the theft.

B.

A diagram is used to display the location of the employer ' s safe.

C.

A witness testifies that they saw the employee take the money.

D.

A witness testifies that the employee was usually the last person to leave the office.

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.

Trade-based laundering

D.

None of re above

Leslie, a business owner, submits tax information regarding her company ' s finances to her country ' s taxing authority. The taxing authority allows companies to subtract the cost of production from their gross sales to determine the taxable income. To reduce her tax liability, Leslie inflates the costs of production on her tax forms. Which of the following schemes has Leslie MOST LIKELY committed?

A.

A value-added tax evasion scheme

B.

A falsified tax deduction scheme

C.

A sales tax scheme

D.

A tax credit evasion scheme

Which of the following statements regarding the qualifications of expert witnesses in most inquisitorial jurisdictions is CORRECT?

A.

Certification in a specific field is always enough to qualify an expert

B.

An excerpt is not qualified to testify unless all parties to the litigation approve

C.

Experts are generally prohibited from serving as expert witnesses in multiple cases

D.

The qualification of an expert is generally based on standardized requirements

XYZ Company sued Faith to recover damages based on a claim of misappropriation of funds. In the same civil proceeding, Faith sued XYZ for false imprisonment that allegedly occurred during an interview. In this situation, the claim by Faith against XYZ Company can BEST be described as a:

A.

Reverse action

B.

Parallel proceeding

C.

Counterclaim

D.

Cross-claim