Law

Question 1

In which legal system are criminal bargaining agreements accepted

Answer 1

More accepted in common law than civil law, only allowed in common law is not correct

Question 2

In whose discretion is it to offer plea bargain, Defendant or prosecution

Answer 2

Prosecution

Question 3

Which of the following is the commonly available defense for tax fraud accusation
Death of Tax payer
Mental illness
Bankruptcy

Answer 3

Mental illness
The death of the taxpayer often cannot be used as a defense because taxes owed due to tax evasion typically survive the taxpayer’s death

liabilities owed as a result of tax evasion may not be discharged in bankruptcy proceedings

Question 4

Types of tax evasion schemes

1. Income and wealth tax evasion
2. Falsifying tax deductions
3. Tax credit schemes
4. Consumption tax schemes

Answer 4

1. Taxes on income and wealth
2. Government allows for some deductions to reduce tax liability, fraudsters falsify, inflate deductions
3. Government gives some credits not necessarily tied to any expenses eg tax credits to companies employing PWDs , fraudsters may misrepresent facts to get more credits
4. Taxes collected from proceeds of sale of goods and services, sales tax, VAT, Excise duty. any fraud that targets these taxes is consumption tax scheme eg Omitting transactions, falsely applying for VAT, Smuggling

Question 5

To recover for deformation, the plaintiff must prove the following

Answer 5

• The defendant made an untrue statement of fact.
• The statement was communicated (published) to third parties.
• The statement was made on an unprivileged occasion.
• The statement damaged the subject’s reputation

Question 6

Which organization is responsible for the securities regulation and the administration of securities laws

Answer 6

The International Organization of Securities Commissions (IOSCO)

Question 7

IOSCO principles are base on the three objectives

Answer 7

Protection of investors
Ensuring that markets are fair, efficient and transparent
The reduction of systemic risk

Question 8

What scenarios would potentially result in the waiver of a client’s legal professional privilege over confidential communications with the client’s legal representative?

Answer 8

When information is shared intentionally or inadvertently(Un intentional) by the client or legal representative with a third party who has no need to know the information

Question 9

A witnesses who testifies about what they have experienced firsthand and their factual observations.

Answer 9

Lay witness, Typically, a fraud examiner who worked on a case will be capable of providing lay testimony based on observations made during the investigation.

Question 10

a person who, by reason of education, training, skill, or experience, is qualified to render an expert opinion regarding certain pertinent issues is

Answer 10

Expert witness

Question 11

deferred prosecution agreements

Answer 11

deferred prosecution agreements occur when prosecutors file criminal charges against a company, but then they agree not to prosecute the claims as long as the company successfully complies with the deferral agreement’s terms. The prosecution defers the prosecution for as long as the company complies with the set agreements

Question 12

A sworn testimony given by a party or witness upon questioning by counsel for one of the parties before trial and outside of court, usually in a lawyer’s office.

Answer 12

Oral Examination

Question 13

What is Perjury

Answer 13

Intentional false statement given under oath on a material point at issue

Question 14

Which of the following is an element that must be proven to establish a perjury offense?

Answer 14

• The defendant made a false statement.
• The defendant made the false statement while under oath.
• The false statement was material or relevant to the proceeding.
• The defendant made the statement with knowledge of its falsity

Question 15

Which of the following is a criminal sanction that requires defendants to pay back victims for the money or property that they lost?

1. Criminal fines
2. Determinate sentence
3. Restitution
4. Criminal forfeiture

Answer 15

Restitution

Question 16

Whos normally choses an expert witness in an adversarial system, Judge or Parties to the litigation

Answer 16

Parties to the litigation, although adversarial courts may also appoint independent experts

Question 17

The International Organization of Securities Commissions (IOSCO) is an international oversight body responsible for issuing and enforcing regulatory standards that govern all international securities markets. True or False

Answer 17

False, IOSCO develops, implements, and promotes adherence to recognized standards for securities regulation, It does not enforce

Question 18

What is a bustout

Answer 18

A planned bankruptcy, may include credit bustout as an example. one intentionally uses a number of credit cards to their limit and files for bankruptcy

Question 19

Which of the following is NOT a favorite front business for laundering money?
Wholesale distribution
Vending Machines 
Electronic Stores
Restaurants

Answer 19

Electronic Stores

Question 20

In most inquisitorial jurisdictions, the judge has the sole discretion to raise objections regarding an expert witness’s biases. True or False

Answer 20

True, In inquisitorial systems, parties are usually allowed to raise limited objections to an expert witness if they believe the expert is biased.

Question 21

element that a plaintiff generally must prove to recover damages for a claim alleging the common law civil wrong for intentional infliction of emotional distress?

Answer 21

• The defendant engaged in extreme and outrageous conduct.
• The defendant acted intentionally or recklessly (i.e., the defendant intended that their conduct would cause severe emotional distress, or they acted recklessly with regard to whether their actions would cause severe emotional distress).
• The victim actually did suffer emotional or mental distress as a result of the defendant’s conduct.

Question 22

In most jurisdictions, the plaintiff’s initial pleading requires various kinds of information. Which of the following is NOT one of them?

1. Summary of the evidence
2. Specific facts on which the party’s claims rely
3. All documents that might be introduced as evidence
4. Grounds for legal relief

Answer 22

3. All documents that might be introduced as evidence, requirement is summary of evidence, it not realistic to know all that may be admitted as evidence

Question 23

Also, the following are general rules with regard to laws criminalizing false claims and statements to government agencies:

Answer 23

• An individual can be found guilty for making a false claim or statement even if
1. the claim or statement is not made directly to a governmental department or agency.
2. the government was not deceived by the falsity.
3. the government did not rely on the falsity.
4. the government did not suffer a loss in reliance on the falsity.
NB: • For an individual to be found guilty of making a false claim or statement, the claim or statement at issue must have been capable of influencing the government entity involved.
FOR as long as one makes a false statement, it does not matter whether or not government effected, that person is guilty for as long as statement was capable of influencing government

Question 24

The World Bank Principles for Effective Insolvency and Creditor/Debtor Regimes (World Bank Principles) recommends that the administrator have broad powers, including:

Answer 24

• The right to cancel fraudulent contracts or transactions entered into by the debtor
• The power to collect, preserve, and dispose of the debtor’s property
• The ability to interfere with contracts to meet the objectives of the insolvency process
• The power to examine the debtor, the debtor’s agents, or other people with knowledge of the debtor’s affairs and compel them to provide relevant information

Question 25

Evidence that proves or disproves facts by inference is

Answer 25

Circumstantial evidence,

Inference is a conclusion reached on the basis of evidence and reasoning.

Question 26

Which is not an element that must be shown to prove a claim for commercial bribery?

Answer 26

The principle suffered damages, bribery in itself is a crime, not need to prove damages

Question 27

When people refer to something that is “against the law,” they are usually referring to this type of law.

Answer 27

Substantive Law

Question 28

Debarment is an administrative penalty that temporarily suspends an individual’s professional license. True or False

Answer 28

False, individuals and businesses can be debarred (i.e., excluded) from participating in government programs. License is not cancelled

Question 29

To recover for a claim of false imprisonment, a plaintiff must show that the defendant knew they had no legal right to restrain the plaintiff’s physical liberty.

Answer 29

False imprisonment is the unlawful restraint by one person of the physical liberty of another without consent or legal justification. To recover for a claim of false imprisonment, the plaintiff generally must prove all of the following elements:
• The defendant used words or actions intended to restrain the plaintiff.
• The defendant’s words or actions resulted in the restraint of the plaintiff without the plaintiff’s consent (i.e., against the plaintiff’s will) and without legal justification.
• The plaintiff was aware that they were being restrained.
A claim of false imprisonment might arise if an employee is detained in any way during a search or interview. Generally, an employer is entitled to question an employee at work about a violation of company policy without incurring liability as long as the employee submits to the questioning voluntarily—that is, not as a result of threats or force.

Question 30

To prove that a defendant committed criminal perjury, the government prosecutor must show that the defendant, while in a court of law, knowingly made a false statement that influenced the jury’s decision. True or False

Answer 30

False, Perjury is an intentional false statement given under oath on a material point at issue. The basic elements for the crime of perjury are as follows:
• The defendant made a false statement.
• The defendant made the false statement while under oath.
• The false statement was material or relevant to the proceeding.
• The defendant made the statement with knowledge of its falsity.