ACFE Law 2

Question 1

Under the Foreign Corrupt Practices Act (FCPA), which of the following is a valid affirmative defense?

Accepted Answer

The payment was a reasonable and bona fide business expenditure directly related to the promotion of products or services

Answer

The FCPA provides an affirmative defense for payments that are lawful under the written laws of the foreign country or constitute reasonable bona fide business expenditures.

Question 2

Which doctrine allows a court to void a contract if one party used unfair bargaining power to obtain grossly one-sided terms?

Accepted Answer

Unconscionability

Answer

Unconscionability permits courts to refuse enforcement of contracts that are oppressively one-sided or result from unfair bargaining processes.

Question 3

A Suspicious Activity Report (SAR) filed under the Bank Secrecy Act must generally be filed within how many days of detecting a suspicious transaction?

Accepted Answer

30 days

Answer

Financial institutions must file a SAR within 30 days of initially detecting facts that may constitute a basis for filing, or 60 days if no suspect is identified.

Question 4

Under the Sarbanes-Oxley Act Section 806, which employees are protected from retaliation for reporting fraud?

Accepted Answer

Employees of publicly traded companies and their contractors who report securities violations

Answer

SOX Section 806 protects employees of publicly traded companies and their subsidiaries or contractors who report violations of securities laws or SEC rules.

Question 5

In a civil fraud lawsuit, the burden of proof standard typically required is:

Accepted Answer

Beyond a reasonable doubt

Answer

Most civil fraud claims require proof by a preponderance of the evidence, meaning it is more likely than not that fraud occurred.

(ACFE) Association of Certified Fraud Examiners Practice Test

(ACFE) Association of Certified Fraud Examiners Practice Test

ACFE Law 2