ACFE CFE-Law Exam Practice Test Instant Access

Question 1

Each day, Rachel purchases $14 500 in bearer instruments with cash from a bank where all currency transactions above 515,000 must be reported to the government Rachets actions are a red flag of which of the following schemes'?

AChannel stuffing

BAlternative remittance system

CStructuring

DReal estate laundering

Answer : C

Question 2

Mya has been retained as an expert witness to provide testimony for a trial. Which of the following statements describes the primary purpose of Mya's testimony?

AMya will assist the fact finder by drawing conclusions regarding the accused's guilt or innocence.

BMya will assist the fact finder by providing specialized knowledge on the admissibility of evidence in the case.

CMya will assist the fact finder by drawing conclusions on the credibility of other witnesses.

DMya will assist the fact finder by providing specialized knowledge that will help them understand evidence.

Answer : D

Question 3

The________________requires that an employee act solely in the best interest of their employer, free of any serf-dealing, conflicts of interest, or other abuse that results in a personal advantage

ADuty of care

BDuty of responsibility

CDuty of employee trust

DDuty of loyalty

Answer : D

Question 4

Calvin, an attorney, sends a letter that is protected by a legal professional privilege to Katrina, one of his clients. Upon receiving the letter, Katrina emails it to her coworker who has no need to know the information contained in the letter. Which of the following statements is MOST ACCURATE?

AThe privilege might have been waived because Katrina used email to transmit the protected information.

BThe privilege might have been waived because Katrina transmitted the protected information to a third party who has no need to know the information.

CThe privilege was not waived by Katrina because the legal professional privilege belongs to the attorney, not the client.

DThe privilege was not waived because the legal professional privilege cannot be waived by transmitting protected information to a third party.

Answer : B

Question 5

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?

AThe jurisdiction's commerce department or equivalent agency

BThe creditor with the largest claim against the debtor

CThe debtor, supervised by an independent insolvency representative

DAn independent insolvency representative

Answer : D

Question 6

John deliberately understated his income so that he could pay a lesser amount on his tax bill. This is an example of tax avoidance.

ATrue

BFalse

Answer : B

Question 7

Bob receives a memorandum from his attorney that is protected by a legal professional privilege Bob emails the memorandum to a third party who has no need to know the information in the memorandum Which of the following statements is MOST ACCURATE?

ABob did not walve the privilege because the legal professional privilege belongs to the attorney, not the client

BBob might have waived the privilege because he transmitted the protected information to a third party who has no need to know the information

CBob might have waived the privilege because he used email to transmit the protected information.

DBob did not waive the privilege because the legal professional privilege cannot be waived by transmitting protected information to a third party

Answer : B

ACFE Certified Fraud Examiner (CFE) - Law CFE-Law Exam Practice Test