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ACFE CFE-Law Exam Overview:

ACFE CFE-Law Exam Syllabus Topics:

ACFE Certified Fraud Examiner Sample Questions:

1. Lana is a Certified Fraud Examiner (CFE) who works for Penn National, a private company. Lana suspects that Payne, an employee for Penn National, has stolen numerous products from the company. Lana plans to conduct an internal investigation into the missing products. Based on these facts, which of the following is the most accurate statement?

A) Payne likely has a duty to cooperate with the investigation as part of the employer-employee relationship.
B) Payne has a duty to cooperate with the investigation even if what is requested from him is not reasonable.
C) Payne can refuse to cooperate with the investigation because he has the right to remain silent.
D) Payne can refuse to cooperate with the investigation because he has a legal right to privacy.

2. A company files a civil lawsuit against one of its directors for insider trading. At the end of the trial, a court orders the director to refrain from purchasing or obtaining the stock of a particular corporation. Which of the following BEST describes this type of remedy?

A) Monetary relief
B) Declaratory relief
C) Injunction
D) Punitive damages

3. 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.

4. Which of the following statements about the International Organization of Securities Commissions (IOSCO) is TRUE?

A) IOSCO is an international industry association that sets global accounting and financial reporting standards.
B) IOSCO ' s primary goal is to establish a separate set of securities regulations for securities exchanges in developing nations.
C) IOSCO is responsible for enforcing regulatory standards that govern all international securities markets.
D) IOSCO is comprised of commissioners and administrators responsible for regulating securities and administering securities laws in their countries.

5. Under the best practices listed in the Financial Action Task Force (FATF) Recommendations concerning large cash transactions with customers which of the following transactions would require a report to be Wed with the government?

A) A lump-sum cash deposit to a bank above the jurisdiction ' s designated threshold
B) A domestic credit card purchase of a piece of jewelry above the jurisdiction ' s designated threshold
C) A cash payment to a restaurant supplier for restaurant supplies above the jurisdiction ' s designated threshold
D) An international purchase of a small boat with a lump-sum cash payment below the jurisdiction ' s designated threshold

Solutions: