CFE-Law Practice Questions

A.  

Whether a foreign judgment is enforceable is not affected by the law where the judgment is enforced.

B.  

Whether a foreign judgment is enforceable always depends on where the defendant ' s assets are located.

C.  

If a party obtains a judgment against a defendant in one jurisdiction, then that judgment is effective automatically and recognized in all jurisdictions throughout the world.

D.  

If a party obtains a judgment against a defendant in one jurisdiction, then that judgment might not be effective in other jurisdictions where the defendant resides.

A.  

The systems are not necessarily illegal.

B.  

Funds are sent and received without the use of traditional financial institutions.

C.  

The systems are characterized by a lack of physical or digital transfer of currency between payers and payees.

D.  

The ledgers used typically contain information regarding payers and payees, such as names and account numbers.

A.  

Bankruptcy fraud

B.  

Fictitious revenues

C.  

Payroll fraud

D.  

Income smoothing

A.  

Whether a foreign judgment is enforceable always depends on where the defendant ' s assets are located

B.  

If a party obtains a judgment in one jurisdiction, that party will automatically be able to enforce the judgment in any jurisdiction

C.  

If a party obtains a judgment in one jurisdiction, that party will automatically be able to enforce the judgment wherever the defendant resides

D.  

Whether a foreign judgment is enforceable might depend on whether the two jurisdiction have an enforcement treaty

A.  

True

B.  

False

A.  

The taxpayer relied on an attorney or accountant.

B.  

The taxpayer has filed for bankruptcy.

C.  

The taxpayer has a mental illness.

D.  

There is no tax deficiency.

A.  

Codified law system

B.  

Common law system

C.  

Statutory law system

D.  

Civil law system

A.  

To increase the likelihood of conviction if a company is accused of subsequent misconduct

B.  

To save trial resources by getting the defendant to plead guilty to a less serious offense

C.  

To postpone prosecution until a company conducts an adequate internal investigation

D.  

To allow prosecutors to resolve a corporate case while still punishing misconduct

A.  

True

B.  

False

A.  

MSBs tend to have a tower money laundering risk than other financial institutions.

B.  

MSBs are generally less strictly regulated than traditional financial institutions.

C.  

A check cashing company is classified as an MS

B.  

D.  

A currency exchange is classified as an MS

B.