CRFA Dumps CRFA Braindumps CRFA Real Questions CRFA Practice Test CRFA Actual Questions Financial CRFA Certified Forensic Accountant (CRFA) https://killexams.com/pass4sure/exam-detail/CRFA Answer: C QUESTION: 355 Which of the following might constitute a breach of trust by the trustee of a PN or PC trust fund, resulting in potential fraud? A. Disclosing false information or not disclosing material information B. Disbursing funds in accordance with trust document C. Providing quarterly, rather than monthly trustee statements D. a and b Answer: A QUESTION: 356 Insurance Funded Preneed Sales – the risk of fraud is low because: A. A third party is involved B. Operators can easily forge documents to deceive the third party service organization C. Sarbanes-Oxley does nothing to help tighten controls at publicly traded insurance companies D. Funeral providers collect premiums from customers Answer: A QUESTION: 357 Forensic accountants may be involved in recovering proceeds of crime and in relation to confiscation proceedings concerning actual or assumed proceeds of crime or ________. A. Bank secrecy B. Money laundering C. Clearstream D. Offshore bank Answer: B QUESTION: 358 Forensic accountants often assist in professional ________ claims where they are assessing and commenting on the work of other professionals. 107 A. Reasonable person B. Negligence C. Tort D. Product liability Answer: A QUESTION: 359 In the ________, relevant legislation is contained in the Proceeds of Crime Act 2002. A. England B. Canada C. Wales D. United Kingdom Answer: D QUESTION: 360 Forensic accounting is the specialty practice area of ________ that describes engagements that result from actual or anticipated disputes or litigation. A. Accountancy B. Proto-Elamite C. Sarbanes–Oxley Act D. Balance sheet Answer: A QUESTION: 361 Some forensic accountants are also Certified Forensic Accounting Professionals, Certified Fraud Examiners, ________, or Chartered Accountants. A. Management accounting B. Financial audit C. Certified Public Accountant 108 D. Chartered Certified Accountant Answer: C QUESTION: 362 During the customer acceptance and identification activities, which of the following customers should be part of the enhanced due diligence ? A. Personal depositors with small deposits B. Traders dealing in cash C. Salaried employees maintaining zero minimum balance with bank D. Trustees, nominees and fiduciaries Answer: D QUESTION: 363 Insurance company observed that in one instance there were Cash transactions for payment of premium and top ups over and above Rs. 5 lakhs per person per month by a group of professionals. What is the reporting obligation of the Insurance company in such case ? A. Insurance company should report this transaction under Cash Transaction Reports to IRDA B. Insurance company should report this transaction as suspicious to IRDA C. Insurance company should report this transaction under Cash Transaction Reports to FUI D. Insurance company should report this transaction as suspicious to FIU Answer: D QUESTION: 364 Money Laundering is considered to be victimless crime unless supported by other offenses. A. True B. False 109 Answer: A QUESTION: 365 According to various estimates on money laundering, size of money laundering is $ 500 billion to $ 1.5 trillion and the same is expected to grow at _________: A. is less than or equal to 2.5 and is less than or equal to 2.8 B. is greater than or equal to 2.5 and is less than or equal to 2.8 C. is greater than or equal to 2.5 and is greater than or equal to 2.8 D. None of these Answer: B QUESTION: 366 Money Laundering has three stages. Which of the following is Not out of those? A. Placement B. Layering C. Integration D. All of these E. None of these Answer: E QUESTION: 367 Under which stage of money laundering the funds are constantly moved or re- characterized to conceal the origin of the funds A. Layering B. Integration C. Placement D. Insulation Answer: A QUESTION: 368 110 The Prevention of Money-laundering Act, 2002, and rule thereunder require every banking company, financial institution and intermediary, to furnish to FIU-IND information relating to: A. All cash transactions of the value of more than rupees ten lakhs in foreign currency B. All cash transactions of the value of more than rupees ten lakhs or its equivalent in foreign currency C. All cash transactions of the value of more than rupees five lakhs D. All transactions of the value of more than rupees ten lakhs or its equivalent in foreign currency Answer: B QUESTION: 369 Banker identified a set of transactions where large number of current accounts were having a common introducer. What do the banker need to do with such transactions? A. None of the above B. Identify the reason, if there is no prima facie reason then report it to FIU C. Nothing, it is a regular banking transaction D. Identify th reason behind the introduction and stop the investigation Answer: B QUESTION: 370 Single money laundering transaction can combine the elements of Placement, Layering and Integration. A. True B. 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