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Home ACFE CFE - Law

ACFE CFE - Law Exam Practice Questions (P. 1)

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Question #1
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?
  1. A
    Determinate sentence
  2. B
    Probation
  3. C
    Indeterminate sentence
  4. D
    Deferred prosecution agreement

Correct Answer: B ?️

Question #2
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?
  1. A
    Bob might have waived the privilege because he transmitted the protected information to a third party who has no need to know the information.
  2. B
    Bob might have waived the privilege because he used email to transmit the protected information.
  3. C
    Bob did not waive the privilege because the legal professional privilege belongs to the attorney, not the client.
  4. D
    Bob did not waive the privilege because the legal professional privilege cannot be waived by transmitting protected information to a third party.

Correct Answer: C ?️

Question #3
At the end of a civil proceeding, the court finds the defendant, a company, liable and orders it to pay a large sum of money to compensate for the plaintiff’s losses. Which of the following BEST describes this type of remedy?
  1. A
    Declaratory relief
  2. B
    Equitable relief
  3. C
    Damages
  4. D
    Injunction

Correct Answer: C ?️

Question #4
Which of the following is the MOST ACCURATE statement about rules prohibiting securities broker-dealers from making unsuitable recommendations on investments or investment strategies?
  1. A
    A suitability violation occurs when a broker recommends an investment or investment strategy that is inconsistent with the client's objectives.
  2. B
    A suitability violation occurs when a broker does not carry out a trade requested by or promised to a customer.
  3. C
    A suitability violation occurs when a broker enters into transactions and manages a client's account for the purpose of generating excessive commissions.
  4. D
    A suitability violation occurs when a broker trades in a client's account without obtaining prior approval for making the transaction(s).

Correct Answer: A ?️

Question #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 filed with the government?
  1. A
    A domestic credit card purchase of a piece of jewelry above the jurisdiction's designated threshold
  2. B
    A lump-sum cash deposit to a bank above the jurisdiction's designated threshold
  3. C
    An international purchase of a small boat with a lump-sum cash payment below the jurisdiction's designated threshold
  4. D
    A cash payment to a restaurant supplier for restaurant supplies above the jurisdiction's designated threshold

Correct Answer: D ?️

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