ACFE Certified Fraud Examiner (CFE) - Fraud Investigations and Legal Issues Sample Questions:
1. Jay files for bankruptcy in order to settle all of his debts. During the bankruptcy proceeding, the court sells off his property and uses the proceeds to pay Jay ' s creditors, thereby discharging all of Jay ' s dischargeable debts. This type of bankruptcy proceeding can BEST be described as:
A) Debt dismissal bankruptcy
B) Debt adjustment bankruptcy
C) Liquidation bankruptcy
D) Reorganization bankruptcy
2. Which of the following statements concerning judgments involving parties that are in multiple jurisdictions is MOST ACCURATE?
A) A judgment in a foreign jurisdiction can be enforceable in a domestic jurisdiction if it involves criminal matters but not civil matters.
B) A judgment in one jurisdiction is enforceable against assets in another country if the foreign jurisdiction has laws or agreements that recognize foreign judgments.
C) A judgment in a domestic jurisdiction can be used to recover a defendant's assets in a foreign jurisdiction, regardless of the foreign jurisdiction.
D) A judgment in a domestic jurisdiction can be enforced in a foreign jurisdiction only with the consent of both parties and the judge.
3. Jukka, an employee of QRS Inc., is being investigated for fraud and is interviewed by an internal investigator.
After the interview, Jukka feels so distressed that she decides to sue for intentional infliction of emotional distress. Which of the following elements must be proven for Jukka to recover damages under this claim?
A) The victim's distress occurred for at least two years.
B) The victim's distress caused them to suffer reputational damage.
C) The investigator owed the victim a duty of care.
D) The investigator intended for their conduct to cause the victim distress.
4. Quincy, a Certified Fraud Examiner (CFE), is investigating a payroll fraud scheme. While interviewing a subject in the case, Quincy asks, "What year did you start working in the accounting department?" This can MOST ACCURATELY be described as a(n) ______ question.
A) Closed
B) Complex
C) Open
D) Leading
5. If the following statements were included in a fraud examination report of a qualified expert, which of them would be IMPROPER?
A) " The evidence shows that between S1 million and S1.5 million in assets were transferred to an offshore account. "
B) " The organization must address the inadequate separation of accounting duties to prevent such an event from happening again. "
C) " When asked a second time about the amount of funds missing, the suspect contradicted their previous testimony. "
D) " In light of all the evidence, the suspect is most likely guilty of fraud against the organization. "
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: B | Question # 3 Answer: D | Question # 4 Answer: A | Question # 5 Answer: D |
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