Get Jun-2023 updated CFE-Law Certification Exam Sample Questions
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The ACFE CFE-Law certification is highly respected in the field of fraud prevention and detection. It is recognized by employers, government agencies, and professional organizations as a mark of excellence in the profession. The certification demonstrates that a candidate has the knowledge and skills necessary to detect, prevent, and investigate fraud, and to provide expert testimony in legal proceedings.
NEW QUESTION # 21
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. Purpose of the communications was to seek or provide legal advice
- B. A lawsuit has been filed
- C. Communication between a legal advisor and a client
- D. Intent to keep the communications confidential
Answer: B
NEW QUESTION # 22
Which of the following is an example of a trade-based money laundering scheme?
- A. A businessperson deposits illicit funds into the bank account of a company they secretly own which then lends the funds back to them
- B. An importer and an exporter conspire to conceal illicit funds by creating invoices that understate the quantity of goods shipped internationally
- 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. An accountant overstates a restaurants revenues to hide illegal funds that are secretly laundered through the business
Answer: B
NEW QUESTION # 23
Even if a government agent obtains consent to search by force duress or bribery, the consent will still constitute a valid waiver of the consenting party's right to be free from searches.
- A. False
- B. true
Answer: A
NEW QUESTION # 24
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 excise tax evasion scheme
- B. A value-added tax evasion scheme
- C. A tax credit evasion scheme
- D. An income and wealth tax evasion scheme
Answer: D
NEW QUESTION # 25
Which of the following is NOT required for a contract transaction or scheme to be classified as an investment contract?
- A. investment m a common enterprise
- B. Profits derived solely from the investor's management activity
- C. An investment of money or other asset
- D. The expectation of making a profit
Answer: B
NEW QUESTION # 26
Which of the following is a legal element that must be shown to prove a claim for commercial bribery?
- A. The defendant acted negligently.
- B. The principal suffered damages as a result of the bribe
- C. The defendant failed to exercise due care.
- D. The defendant gave or received a thing of value.
Answer: D
NEW QUESTION # 27
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. Purchases large quantities of goods on credit
- C. Conspires with suppliers to produce fraudulent invoices
- D. Bribes a trustee to overlook assets in the debtor's possession
Answer: B
NEW QUESTION # 28
All of the following are common legal defenses for tax evasion EXCEPT:
- A. The actions were tax avoidance not tax evasion
- B. Mental illness of the taxpayer
- C. Death of the taxpayer
- D. The taxpayer s reliance on an attorney or accountant
Answer: C
NEW QUESTION # 29
Which of the following is NOT one of the elements that the government must prove to establish a violation of a law criminalizing false statements to government agencies?
- A. The false statement was material
- B. The defendant made a false statement
- C. The defendant knew the statement was false
- D. The government relied on the false statement
Answer: D
NEW QUESTION # 30
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 compel Ellis to provide the information despite Ellis's relationship to the business
- C. The administrator may not obtain the information unless the business agrees in writing
- D. The administrator may only seek information regarding the bus ness that filed bankruptcy if Ellis consents to providing it.
Answer: B
NEW QUESTION # 31
Which of the following statements regarding the qualifications of expert witnesses in most inquisitorial jurisdictions is CORRECT?
- A. The qualification of an expert is generally based on standardized requirements
- 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. Certification in a specific field is always enough to qualify an expert
Answer: A
NEW QUESTION # 32
Cory has been charged with lax evasion for filing a false tax return. As a defense, Cory claims that he made an honest mistake due to the tax law's complexity, and he did not intentionally submit an incorrect tax return If the court finds that his mistake was in good faith the most likely will NOT be found to have "willfully'" engaged m fraudulent actions to avoid reporting or paying his taxes.
- A. False
- B. True
Answer: B
NEW QUESTION # 33
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. Appellate courts will usually hear an appeal even if the petition was not filed in a timely manner
- D. In civil law jurisdictions appellate courts are generally not permitted to make their own legal conclusions when reviewing a case
Answer: A
NEW QUESTION # 34
Greta is convicted of white-collar crime. However, her sentence is suspended in return for her promise of good behavior. Which of the following BEST describes Greta's sentence?
- A. Probation
- B. indeterminate sentence
- C. Deferred prosecution agreement
- D. Determinate sentence
Answer: A
NEW QUESTION # 35
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 # 36
Which of the following is the MOST ACCURATE statement about the different types of alternative dispute resolution'?
- A. The agreements reached in mediations are generally nonbinding.
- B. In an arbitration proceeding the arbitrator acts as a judge or jury by deciding the dispute at issue on its merits
- C. In a mediation session, the mediator decides who should win the dispute at issue
- D. The decisions reached in all arbitrations are always binding
Answer: D
NEW QUESTION # 37
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The ACFE CFE-Law (Certified Fraud Examiner) Exam is a globally recognized certification for professionals who specialize in detecting, preventing, and investigating fraud. This certification is offered by the Association of Certified Fraud Examiners (ACFE) and is designed to validate the skills and knowledge of those who work in the field of fraud detection and prevention. The CFE-Law exam covers various topics related to fraud, including financial transactions and fraud schemes, legal aspects of fraud investigations, interviewing and interrogation techniques, and more.
The ACFE CFE-Law (Certified Fraud Examiner) Certification Exam is a globally recognized certification that demonstrates a candidate's expertise in the field of fraud examination. This certification is offered by the Association of Certified Fraud Examiners (ACFE), which is the world's largest anti-fraud organization. The CFE-Law certification is specifically designed for professionals who have a background in law and want to specialize in fraud examination.
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