CFE Law

Question 1

In a bankruptcy proceeding, are creditors allowed to conduct their own investigations into the debtor’s financial affairs?

Answer 1

yes

Question 2

Mail fraud statute is what type of law?

Answer 2

Substantive

Question 3

A cross claim in an action between parties on?

Answer 3

the same side of the lawsuit

Question 4

Rule 26 of the US Fed Civil Procedures does not require that this is disclosed regarding an expert witness

Answer 4

All crimes of dishonesty the expert has been convicted of.

Question 5

What is a commonly available defense to tax fraud accusations?

Answer 5

Mental illness

Question 6

CAN-SPAM Act is?

Answer 6

Attempts to reduce spam and prohibits several deceptive or fraudulent practices used in spam (deceptive subject lines/header info)

Question 7

Following the wall street crash of 1929, Congress passed what?

Answer 7

The Securities and Exchange Act of 1934 (vs 1933 Act that regulated issuance of securities this covers subsequent trading through brokers).

Question 8

The government cannot appeal an acquittal on its?

Answer 8

Merits (because of violation of 5th amendment rights regarding double jeopardy)

Question 9

Fictitious Revenues in money laundering is?

Answer 9

When the money launderer records more income on a business’ books than the business actually generates and the fictitious revenue accounts for the illegal funds that are secretly inserted into the company.

Question 10

Three stages of money laundering?

Answer 10

Placement, layering and integration

Question 11

Placement in money laundering is?

Answer 11

Introduction of illegal profits into the financial system.

Question 12

Layering in money laundering is?

Answer 12

Numerous financial transactions in complex patterns to prevent detection

Question 13

Integration in money laundering is?

Answer 13

the money is integrated back into the economy in a way that make it appear to be part of a legitimate transaction.

Question 14

Howery Test

Answer 14

There is an investment of money or other asset.
The investment is a common enterprise.
The investment was made with the expectation of making a profit.
The profits are to come solely from the effort of people rather than the investor.

Question 15

TINA (Truth in Negotiations Act) requires what?

Answer 15

That Government contractors submit cost pricing or pricing data and certify that such information is current, accurate and complete before the award of any negotiated contract.

Question 16

elements to prove perjury

Answer 16

the def made a false statement
the def made the false statement under oath
the false statement was material or relevant to the proceeding
the def made the statement with knowledge of its falsity.

Question 17

The purpose of authentication requirements in common law systems is to?

Answer 17

Ensure that evidence (tangible) is what it purports to be and is genuine.

Question 18

Myopic Vision in cross examination?

Answer 18

Method of questioning an expert witness where after the expert explains a lot of time on a specific subject matter, the attorney then focuses on an area where the expert has done little work.

Question 19

The fiduciary duty of loyalty is?

Answer 19

Agent must act solely in the best interest of the employer/principal.

Question 20

The fiduciary duty of care is?

Answer 20

Means that people in a fiduciary relationship must act with such care as an ordinarily prudent person would employ in similar positions.

Question 21

A court appointment bankruptcy examiner has the power to?

Answer 21

Subpoena records and depose witnesses.

Question 22

Federal Civil Procedure Rule 26 requires that testifying expert witness submit a written report containing the following:

Answer 22

• Complete statement of all expert opinions to be expressed and the basis of those opinions.
• The facts or data considered by the witness in forming the opinion.
• Any exhibits
• Witness qualifications
• All publications authored w/in the last 10 years.
• a list of other cases they have testified in over the last 4 years.
• the amount of compensation they are receiving.

Question 23

Elements of commercial bribery typically include:

Answer 23

• The def gave or received a thing of value.
• The def acted with corrupt intent.
• The def’s scheme was designed to influence the recipients action in a business decision.
• The def acted without the victim’s knowledge or consent.

Question 24

Substantive law is comprised of?

Answer 24

The basic laws of rights and duties.

Question 25

Relevant evidence is?

Answer 25

it tends to make some fact at issue more or less likely than it would be without the evidence.

Question 26

The trustee takes what in regards to accessing the debtor’s books and records?

Answer 26

the debtor’s place. this allows the trustee to bypass attorney-client and accountant-client privilege

Question 27

The best-evidence rule applies to what?

Answer 27

the content of a document; at least a fair copy of the original must be available for inspection.

Question 28

Elements of a False Tax Return:

Answer 28

• The def made and subscribed a return that was false with regard to a material matter.
• The document contained a written declaration that it was made under the penalties of perjury.
• the def did not believe the document was true and correct as to every material matter..
• The def falsely subscribed to the document willfully, with the specific intent to violate the law.

Question 29

The Exclusionary Rule states what?

Answer 29

That evidence obtained in violation of the 4th Amendment will be suppressed (inadmissible). Additionally, and evidence obtained as a result of the illegally obtained evidence is also suppressed.

Question 30

Appellate State Courts hear issues involving questions of law or questions involving both law and fact that arose in higher and lower-level state trial courts? t/f

Answer 30

True

Question 31

Expert testimony is intended to?

Answer 31

Assist the trier of fact to understand the evidence or determine the fact in issue.

Question 32

Primary source of law in civil law jurisdictions?

Answer 32

Codified principles or statutes.