ACFE CFE - Law - Certified Fraud Examiner - Law Exam
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Total 153 questions
Question #11 (Topic: Exam A)
Which of the following is NOT a legal element that must be shown to prove a claim for fraudulent misrepresentation of material facts?
A. The victim suffered damages as a result of the misrepresentation.
B. The defendant acted negligently.
C. The victim relied on the misrepresentation.
D. The defendant made a false statement (i.e., a misrepresentation of fact).
Answer: B
Question #12 (Topic: Exam A)
Davis is an employee at Waccamaw Homeplace, a publicly traded corporation. Davis knows that Waccamaw is about to publicly announce a new joint venture project in China, so he buys shares of Waccamaw stock. Assuming that his conduct was illegal in the jurisdiction in which he works and resides, what type of crime did Davis MOST LIKELY commit?
A. Insider trading
B. Trading on margin
C. Futures fraud
D. Churning
Answer: A
Question #13 (Topic: Exam A)
In most civil law systems, which of the following parties typically serves as the fact finder in criminal proceedings?
A. A panel of court-appointed attorneys
B. A jury
C. A panel of court-appointed experts
D. A judge
Answer: B
Question #14 (Topic: Exam A)
Which of the following is NOT required for a contract, transaction, or scheme to be classified as an investment contract?
A. Investment in a common enterprise
B. The expectation of making a profit
C. An investment of money or other asset
D. Profits derived solely from the investor's management activity
Answer: D
Question #15 (Topic: Exam A)
Which of the following statements regarding the qualifications of expert witnesses in most inquisitorial jurisdictions is CORRECT?
A. The qualification of an expert is generally based on standardized requirements.
B. An expert is not qualified to testify unless all parties to the litigation approve.
C. Certification in a specific field is always enough to qualify an expert.
D. Experts are generally prohibited from serving as expert witnesses in multiple cases.
Answer: A
