[Jan 08, 2025] Fully Updated Free Actual ACFE CFE-Law Exam Questions
Free CFE-Law Questions for ACFE CFE-Law Exam [Jan-2025]
The CFE-Law certification is designed for professionals who work in the legal and regulatory fields and want to specialize in fraud prevention and detection. Certified Fraud Examiner certification helps professionals to gain a deeper understanding of the legal and regulatory environment surrounding fraud and to develop the skills needed to investigate and prevent fraud within this context. The CFE-Law certification covers topics such as fraud schemes, legal and regulatory frameworks, and investigative techniques.
NEW QUESTION # 45
During an internal investigation Todd a Certified Fraud Examiner (CFE) interviewed Janessa a fraud suspect Although Janessa wanted to leave in the middle of the interview, Todd blocked the exit and prevented her from leaving Janessa subsequently confessed to committing fraud If under these facts Janessa files a lawsuit (or false imprisonment against Todd, Todd will likely
- A. Win the case if he did not know the conduct was illegal
- B. Win the case because he is protected under the qualified business privilege
- C. Lose the case because janessa did not leave the interview
- D. Lose the case if a trier of fact concludes that he restrained Janessa without consent or legal justification
Answer: D
NEW QUESTION # 46
Which of the following statements is MOST ACCURATE regarding cross-examination of witnesses in adversarial systems?
- A. If an expert witness's opinion is at risk of being distorted during cross-examination, the expert should avoid answering the question
- B. The primary purpose of cross-examination is for opposing counsel to discover information previously unknown to opposing counsel.
- C. If opposing counsel asks an overly complex question during cross-examination, witnesses should ask for the question to be rephrased
- D. The general rule is for opposing counsel to cross-examine all witnesses to ensure that important details are not missed by the fact finder
Answer: C
NEW QUESTION # 47
In systems using adversarial processes, an attorney may impeach an opposing party's witness by showing that the witness:
- A. Is influenced by bias or self-interest
- B. Testified from personal knowledge
- C. Made poor consistent statements
- D. Has a keen ability to observe
Answer: A
NEW QUESTION # 48
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. Demonstrative evidence
- C. Relevant evidence
- D. Circumstantial evidence
Answer: C
NEW QUESTION # 49
Which of the following statements regarding civil lawsuits in most jurisdictions is CORRECT?
- A. The plaintiff's initial filing with the court does not typically need to include the specific facts on which the claim relies.
- B. The plaintiffs initial filing does not typically need to contain a summary of the evidence
- C. All of the above are correct
- D. Civil lawsuits begin with the filing of a pleading, usually in the jurisdiction in which the defendant resides or where the claim arose
Answer: D
NEW QUESTION # 50
The Financial Action Task Force (FATF) Recommendations slate that a financial institution s customer due diligence (COD) procedures should include continued monitoring of a customer's business relationships and transactions.
- A. False
- B. True
Answer: B
NEW QUESTION # 51
Frederick has multiple high-volume foreign bank accounts. The country he lives in requires him to report such accounts annually for tax purposes but he regularly and intentionally fails to report his accounts in order to reduce the amount of taxes he must pay. Which of the following schemes has Frederick MOST LIKELY committed?
- A. An income and wealth tax evasion scheme
- B. A value-added tax evasion scheme
- C. An excise tax evasion scheme
- D. A tax credit evasion scheme
Answer: A
NEW QUESTION # 52
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 # 53
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 # 54
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. Intent to keep the communications confidential
- B. Communication between a legal advisor and a client
- C. Purpose of the communications was to seek or provide legal advice
- D. A lawsuit has been filed
Answer: D
NEW QUESTION # 55
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 recognized as the international standard-setter for securities markets
- D. IOSCO is an oversight body responsible for issuing and enforcing regulations that govern all international securities markets
Answer: C
NEW QUESTION # 56
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 they are a payment method that provides complete anonymity
- 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 payments often cross jurisdictional boundaries, making it difficult for authorities to pursue enforcement
Answer: D
NEW QUESTION # 57
Which of the following statements concerning judgments involving parties in multiple jurisdictions is MOST ACCURATE?
- A. If a party obtains a judgment in one jurisdiction, that party will automatically be able to enforce the judgment wherever the defendant resides
- B. If a party obtains a judgment in one jurisdiction, that party will automatically be able to enforce the judgment in any jurisdiction
- C. Whether a foreign judgment is enforceable always depends on where the defendant's assets are located
- D. Whether a foreign judgment is enforceable might depend on whether the two jurisdiction have an enforcement treaty
Answer: D
NEW QUESTION # 58
Which of the following statements concerning the appointment of expert witnesses at that is accurate?
- A. Generally, only the parties may select experts to introduce testimony in adversarial jurisdictions
- B. Generally, only the parties may select expert witnesses in inquisitional jurisdictions.
- C. Generally the court selects the primary expert witnesses in adversarial jurisdictions.
- D. Generally, the court appoints the primary expert witnesses in inquisitorial jurisdictions.
Answer: B
NEW QUESTION # 59
One of the purposes of securities regulation is to maintain market confidence.
- A. False
- B. True
Answer: B
NEW QUESTION # 60
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 report of suspicious transactions with appropriate authorities because the employees suspect money laundering violations
- B. May not file a report of suspicious transactions related to potential criminal activity with appropriate authorities
- C. Is required to file a cash transaction report for possible criminal activity with appropriate authorities because cash was involved
- D. May, but is not required to file a report of suspicious transactions related to possible money laundering with appropriate authorities
Answer: A
NEW QUESTION # 61
Which of the following, if available, would help an organization recover losses from an instance of internal fraud?
- A. Privilege insurance
- B. Customer liability policy
- C. Fidelity insurance
- D. Deposition
Answer: C
NEW QUESTION # 62
Which of the following statements concerning examinations of expert witnesses in most inquisitorial jurisdictions is accurate?
- A. The parties determine the extent of consideration to be given to the expert's testimony
- B. The judge is not allowed to question the expert's credibility under any circumstance
- C. The expert has the discretion to determine the scope of the examinations
- D. The parties are often allowed to question the expert's methods and analysis
Answer: D
NEW QUESTION # 63
Which of the following statements concerning money services businesses (MSBs) is INCORRECT?
- A. A check cashing company is classified as an MSB.
- B. MSBs tend to have a tower money laundering risk than other financial institutions.
- C. MSBs are generally less strictly regulated than traditional financial institutions.
- D. A currency exchange is classified as an MSB.
Answer: C
NEW QUESTION # 64
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 only seek information regarding the bus ness that filed bankruptcy if Ellis consents to providing it.
- B. The administrator has no power to obtain the information under any circumstances
- C. The administrator may compel Ellis to provide the information despite Ellis's relationship to the business
- D. The administrator may not obtain the information unless the business agrees in writing
Answer: C
NEW QUESTION # 65
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. Appellate courts will usually reverse a conviction even if the trial court's error did not affect the outcome of the case
- C. In civil law jurisdictions appellate courts are generally not permitted to make their own legal conclusions when reviewing a case
- D. Appellate courts will usually hear an appeal even if the petition was not filed in a timely manner
Answer: A
NEW QUESTION # 66
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 # 67
Greg is serving as an expert witness and is being cross-examined at trial. The questioning party gets Greg to state that he spent considerable time working on a certain issue in the case. Then the questioning party asks many questions on a tangential issue in the case that Greg knows little about. Which of the following describes the questioning party's method?
- A. Myopic vision
- B. Sounding board
- C. Personal attack
- D. Bias
Answer: A
NEW QUESTION # 68
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