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NEW QUESTION # 53
Which of the following statements concerning front businesses as a method of laundering money is the LEAST ACCURATE?
- A. Front businesses provide cover for delivery and transportation related to illegal activity
- B. Front businesses benefit launderers by providing a safe place to manage criminal activities
- C. A red flag of a front business is the observation of a large number of customers during peak operating hours
- D. From criminals' perspective a disadvantage to front businesses is that they generally must pay taxes on the illicit income
Answer: C
NEW QUESTION # 54
Which of the following statements about the appeals process in cranial cases is MOST ACCURATE?
- A. Appellate courts will usually hear an appeal even if the petition was not filed in a timely manner
- B. In civil law jurisdictions appellate courts are generally not permitted to make their own legal conclusions when reviewing a case
- C. Appellate courts will usually reverse a conviction even if the trial court's error did not affect the outcome of the case
- D. In common law jurisdictions, appellate courts are generally not permitted to make their own factual determinations when reviewing a case
Answer: D
NEW QUESTION # 55
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 defendant acted negligently
- B. The victim suffered damages as a result of the misrepresentation
- C. The victim relied on the misrepresentation
- D. The defendant made a false statement (i, e., a misrepresentation of fact)
Answer: A
NEW QUESTION # 56
The same customer comes into a casino each day and deposits a large amount of cash into an account but after very little gambling the customer withdraws the funds The casino employees suspect that the customer may be engaged in money laundering activity Assuming that the anti-money laundering (AML) regulations that govern the casino's activities correspond to the Financial Action Task Force (FATF) Recommendations the casino:
- A. Is required to file a cash transaction report for possible criminal activity with appropriate authorities because cash was involved
- B. May, but is not required to file a report of suspicious transactions related to possible money laundering with appropriate authorities
- C. May not file a report of suspicious transactions related to potential criminal activity with appropriate authorities
- D. Is required to file a report of suspicious transactions with appropriate authorities because the employees suspect money laundering violations
Answer: D
NEW QUESTION # 57
Which of the following scenarios is an example of the criminal sanction known as criminal forfeiture?
- A. As part of his sentence for embezzlement, a defendant is ordered to pay back his employer for the money he stole.
- B. As part of his sentence for tax evasion, a Defendant is ordered to pay a fine of $10,000 to the government
- C. As part of her sentence for money laundering a defendant is sentenced to a three- to five-year term of incarceration
- D. As part of her sentence for bribery a defendant is ordered to transfer a car she received as a bribe to the government
Answer: D
NEW QUESTION # 58
Which of the following typically does NOT have to be present for communications between an attorney and the attorney's client to be protected by a legal professional privilege?
- A. Purpose of the communications was to seek or provide legal advice
- B. Communication between a legal advisor and a client
- C. Intent to keep the communications confidential
- D. A lawsuit has been filed
Answer: D
NEW QUESTION # 59
Which of the following statements concerning alternative remittance systems is INCORRECT?
- A. The systems are not necessarily illegal.
- B. The systems are characterized by a lack of physical or digital transfer of currency between payers and payees.
- C. Funds are sent and received without the use of traditional financial institutions.
- D. The ledgers used typically contain information regarding payers and payees, such as names and account numbers.
Answer: A
NEW QUESTION # 60
At the end of a civil proceeding, the court finds the defendant, a company, liable and orders it to pay a large sum of money to compensate for the plaintiffs losses. Which of the following BEST describes this type of remedy?
- A. Carnages
- B. Declaratory relief
- C. Equitable relief
- D. Injunction
Answer: A
NEW QUESTION # 61
Under the best practices listed in the Financial Action Task Force (FATF) Recommendations concerning large cash transactions with customers which of the following transactions would require a report to be Wed with the government?
- A. A cash payment to a restaurant supplier for restaurant supplies above the jurisdiction's designated threshold
- B. A domestic credit card purchase of a piece of jewelry above the jurisdiction's designated threshold
- C. An international purchase of a small boat with a lump-sum cash payment below the jurisdiction's designated threshold
- D. A lump-sum cash deposit to a bank above the jurisdiction's designated threshold
Answer: D
NEW QUESTION # 62
Which of the following is the MOST ACCURATE statement about the UK Bribery Act?
- A. Like the FCPA the UK Bribery Act contains an explicit exception for facilitating payments
- B. Even if an organization's anti-corruption program complies with the FCPA, it might not be sufficient for the purpose of complying with the UK Bribery Act
- C. The UK Bribery Act only exercises jurisdiction over individuals and corporate entities for acts of corruption when the offense occurs outside the United Kingdom
- D. Unlike the FCPA. the UK Bribery Act makes it a crime to bribe a foreign public official in connection with international business transactions
Answer: B
NEW QUESTION # 63
Each day, Rachel purchases $14 500 in bearer instruments with cash from a bank where all currency transactions above 515,000 must be reported to the government Rachets actions are a red flag of which of the following schemes'?
- A. Structuring
- B. Real estate laundering
- C. Channel stuffing
- D. Alternative remittance system
Answer: A
NEW QUESTION # 64
To determine if a misrepresentation in the offer or sale of any securities is material a fraud examiner should answer which of the following questions?
- A. "Would a reasonable investor wish to know the information to make an informed decision?"
- B. "Was the misrepresentation made by an authorized individual?"
- C. ''Did the person who made the representation intend to mislead potential investors?
- D. "Did the person who made the representation believe that it was suitable for potential investors?"
Answer: A
NEW QUESTION # 65
Which of the following is NOT an element generally required to establish a claim alleging the common law avil wrong for intentional infliction of emotional distress?
- A. The victim was an employee of the defendant
- B. The victim suffered distress as a result of the defendants conduct
- C. The defendant acted intentionally or recklessly
- D. The defendant engaged in extreme and outrageous conduct
Answer: A
NEW QUESTION # 66
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 m the jurisdiction in which he works and resides, what type of crime did Davis MOST LIKELY commit?
- A. Futures fraud
- B. Churning
- C. Trading on margin
- D. Insider trading
Answer: D
NEW QUESTION # 67
In jurisdictions that allow for corporate criminal liability which of the following is typically required for the corporation to be vicariously liable for the acts of one of its employees?
- A. The employee was acting within the scope of their employment
- B. The corporation had previous violations of a similar nature
- C. Management knew of the underlying offense but did not correct it
- D. Management was directly involved with the offense
Answer: A
NEW QUESTION # 68
Which of the following is the MOST ACCURATE statement about serf-regulatory organizations (SROs) in the securities industry?
- A. In some jurisdictions SROs establish the standards and rules under which members of the securities industry operate
- B. An SRO generally has sole regulatory authority over the securities industry in the jurisdiction in which it operates
- C. In most jurisdictions. SROs are prohibited from participating in the resolution of disputes related to securities transactions
- D. An SRO is a governmental entity that exercises regulatory authority over the securities industry in its jurisdiction
Answer: A
NEW QUESTION # 69
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. judge
- D. A panel comprised of laypersons
Answer: C
NEW QUESTION # 70
All of the following are methods of pretrial civil discovery commonly found in common law jurisdictions EXCEPT:
- A. Written examinations
- B. Oral examinations
- C. Affidavits of documents or records
- D. Injunctions
Answer: D
NEW QUESTION # 71
Which of the following statements concerning money services businesses (MSBs) is INCORRECT?
- A. A currency exchange is classified as an MSB.
- B. A check cashing company is classified as an MSB.
- C. MSBs are generally less strictly regulated than traditional financial institutions.
- D. MSBs tend to have a tower money laundering risk than other financial institutions.
Answer: C
NEW QUESTION # 72
IBC Manufacturing is a private company in a jurisdiction in which the public has the legal right to be free from unreasonable search and seizure by government authorities. An investigator at IBC searches the desk of Denise an IBC employee and finds illegal narcotics. The investigator seizes the narcotics and turns them over to members of law enforcement. The investigator violated Denises rights by failing to obtain a search warrant before conducting the search
- A. False
- B. True
Answer: B
NEW QUESTION # 73
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