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CFE-Law Certified Fraud Examiner (CFE) - Law Questions and Answers

Questions 4

Which of the following, if available, would help an organization recover losses from an instance of internal fraud?

Options:

A.

Privilege insurance

B.

Customer liability policy

C.

Fidelity insurance

D.

Deposition

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Questions 5

Which of the following statements concerning examinations of expert witnesses in most inquisitorial jurisdictions is accurate?

Options:

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

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Questions 6

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?

Options:

A.

A tax credit evasion scheme

B.

A value-added tax evasion scheme

C.

An excise tax evasion scheme

D.

An income and wealth tax evasion scheme

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Questions 7

Which of the following statements is MOST ACCURATE regarding cross-examination of witnesses in adversarial systems?

Options:

A.

If opposing counsel asks an overly complex question during cross-examination, witnesses should ask for the question to be rephrased

B.

If an expert witness's opinion is at risk of being distorted during cross-examination, the expert should avoid answering the question

C.

The primary purpose of cross-examination is for opposing counsel to discover information previously unknown to opposing counsel.

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

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Questions 8

Dodd is a Certified Fraud Examiner (CFE) who works for Weathervane, a private company Dodd suspects that Burton a Weathervane employee has embezzled money from the company Dodd plans to conduct an internal investigation into the missing funds Based on these facts which of the following is the MOST ACCURATE statement?

Options:

A.

Burton has a duty to cooperate with the investigation even if what is requested from him is not reasonable

B.

Burton can refuse to cooperate with the investigation because he has a fundamental right to privacy

C.

Burton likely has a duty to cooperate with the investigation as part of the employer-employee relationship

D.

Burton can refuse to cooperate with the investigation because he has a fundamental right to remain silent

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Questions 9

The government filed a avil action against a politician for accepting real estate as a bribe. There is a possibility that the politician could transfer the real estate to a third party before the court enters a final judgment Which type of order should the government seek from the court to prevent the politician from transferring the real estate?

Options:

A.

Preservation order

B.

Declaratory relief

C.

Prejudgment attachment

D.

Litigation hold

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Questions 10

Which of the following is an example of a trade-based money laundering scheme?

Options:

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

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Questions 11

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?

Options:

A.

Overstate revenues

B.

Structured deposits

C.

Trade-based laundering

D.

None of re above

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Questions 12

During a bankruptcy bustout scheme, or planned bankruptcy, the debtor committing the fraud typically performs which of the following actions?

Options:

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

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Questions 13

In common law jurisdictions failing to suspend routine destruction of electronic data can result in sanctions for failure to preserve relevant evidence

Options:

A.

True

B.

False

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Questions 14

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'?

Options:

A.

Adversarial process

B.

Substantive law process

C.

Inquisitorial process

D.

Common law process

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Questions 15

Allison works for a government contractor She informs the government that her employer has been submitting false claims to the government for payment Later it is discovered that Allison has misappropriated more than $50,000 of her employer's money Alison qualifies as a whistleblower entitled to anti-retaliation protection under the law because of her report to the government Which of the following statements about Allison is CORRECT?

Options:

A.

Allison cannot be fired for misappropriating funds from her employer

B.

Allison cannot be fired for any reason

C.

Alison cannot be fired for informing the government of her employee’s fraud

D.

None of the above

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Exam Code: CFE-Law
Exam Name: Certified Fraud Examiner (CFE) - Law
Last Update: Dec 2, 2024
Questions: 103
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