CFE-Fraud-Investigations-and-Legal-Issues by ACFE Actual Free Exam Q&As

Question 1

Talia has been hired by SBS Inc. to implement a new data analysis program to search for warning signs of potential fraud within the company. Which of the following steps should Talia conduct first to MOST EFFECTIVELY use data analysis techniques for such an initiative?

A. Build a profile of potential frauds. B. Monitor the data. C. Cleanse and normalize the data. D. Identify the relevant data

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Correct Answer: D Vote an answer

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Question 2

Which of the following factors is MOST LIKELY to affect the rights that an employee has during an internal investigation?

A. The likelihood that the case will eventually go to trial. B. The amount of evidence that the employer possesses. C. The existence of a collective bargaining agreement. D. The length of the employee's tenure at the organization.

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Correct Answer: C Vote an answer

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Question 3

While performing due diligence on a potential vendor, a company finds the vendor's name on a government list. The list states that the vendor is prohibited from bidding on government contracts for three years. Which type of administrative penalty was imposed against the vendor?

A. License revocation B. Debarment C. Delisting D. License suspension

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Correct Answer: B Vote an answer

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Question 4

Paul is convicted of embezzlement. However, his sentence is suspended in return for his promise of good behavior. Which of the following BEST describes Paul's sentence?

A. Determinate sentence B. Deferred prosecution agreement C. Indeterminate sentence D. Probation

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Correct Answer: D Vote an answer

Question 5

Which of the following is a recommended strategy when conducting admission-seeking interviews?

A. Use time constraints as a means to pressure the subject into making a confession. B. Ensure that accusations are made in the presence of a third party to avoid potential liability C. Emphasize a lack of morality in the subject ' s actions to induce them into confessing. D. Increase sympathy while downplaying implications of wrongdoing.

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Correct Answer: D Vote an answer

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Question 6

Shannon, a Certified Fraud Examiner (CFE), is conducting a fraud examination for Sand Corp. Shannon is going to perform a textual analysis on unstructured data, such as emails and instant messages. Why would Shannon perform such an analysis?

A. The analysis will produce a visual representation of the data collected to track the movement of money. B. The analysis will uncover an admission of fraud in an email or other communication that can be presented in court. C. The analysis will determine whether someone is lying or telling the truth based on clues within the data. D. The analysis will categorize data to reveal patterns, sentiments, and relationships that are indicative of fraud.

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Correct Answer: D Vote an answer

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Question 7

Which of the following statements about the limitations of using online databases for public record searches is MOST ACCURATE?

A. It is very difficult to find a legitimate online database for accessing public records. B. The public records produced by online database searches rarely contain correct information. C. Public records featured in electronic formats include too much detail to be efficiently analyzed. D. Availability of public records through online databases varies widely across jurisdictions.

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Correct Answer: D Vote an answer

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Question 8

Which of the following is the MOST ACCURATE statement regarding a fraud examiner's ability to trace cryptocurrency transactions?

A. Most cryptocurrencies rely on private blockchains, which require court orders to obtain transaction information. B. Most jurisdictions do not require digital wallet providers to record any personal information about cryptocurrency users. C. Each blockchain transaction contains direct identifying information that can be used to find cryptocurrency users. D. Information about cryptocurrency ownership can sometimes be revealed by analyzing a subject's bank statements.

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Correct Answer: D Vote an answer

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Question 9

Abram, a fraud examiner, is attempting to determine the disposition of funds and assets that were acquired illicitly by Niko, a procurement employee of TLM Corp., who allegedly conducted a bribery scheme with company vendors. Which of the following statements regarding why Abram should obtain Niko's credit card records and statements is MOST ACCURATE?

A. Abram should obtain Niko's credit card statements because they likely contain information about Niko' s credit history. B. Abram should obtain Niko's credit card records because they will show detailed information about suspicious deposits. C. Abram should obtain Niko's credit card records because they can reveal Niko's spending patterns and habits. D. Abram should obtain Niko's credit card statements because they will show whether Niko used illicit funds to pay the credit card bills.

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Correct Answer: C Vote an answer

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Question 10

Which of the following is a requirement of the European Union ' s (EU) General Data Protection Regulation (GDPR)?

A. An organization must refrain from confirming or denying whether it is in possession of a data subject ' s personal data even if the data subject requests this information. B. An organization must provide a data subject ' s personal data upon that individual ' s request for a reasonable fee. C. An organization must notify all affected data subjects within six months when a data breach occurs that is likely to result in a high risk to their rights and freedoms. D. An organization must obtain a data subject ' s consent before collecting or processing personal data about that individual.

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Correct Answer: D Vote an answer

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Question 11

Luisa is charged with violating a criminal law that prohibits making false statements to government agencies.
Which of the following is NOT one of the elements the government must prove?

A. The defendant knew the statement was false. B. The defendant made a false statement. C. The government relied on the false statement. D. The false statement was material.

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Correct Answer: C Vote an answer

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Question 12

Countries A and B both follow the Financial Action Task Force (FATF) Recommendations concerning cross- border transfers of currency Trevor is traveling from Country A to Country B while carrying $16,000 in cash which exceeds Country B ' s reporting threshold Trevor is required to disclose the amount of currency he is carrying to authorities in Country B.

A. False B. True

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Correct Answer: B Vote an answer

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Question 13

Which of the following statements is TRUE regarding criminal proceedings and discovery in adversarial jurisdictions?

A. The majority of criminal discovery usually occurs before the trial begins. B. Most criminal proceedings are divided into pretrial, investigative and trial phases C. The judge is the primary driver of the discovery process in criminal proceedings. D. Parties typically cannot request evidence from each other until after the trial begins.

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Correct Answer: C Vote an answer

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ACFE Certified Fraud Examiner (CFE) - Fraud Investigations and Legal Issues - CFE-Fraud-Investigations-and-Legal-Issues Exam Practice Test