ACFE Exam CFE-Investigation Topic 4 Question 104 Discussion

Actual exam question for ACFE's CFE-Investigation exam

Question #: 104
Topic #: 4

Due to risks of illicit transactions, most jurisdictions require financial institutions to obtain information about which of the following from an institution with which they have a foreign correspondent relationship?

AThe institution's branch addresses

BThe institution's licenses or certifications

CThe institution's tax statements

DThe institution's client loan profiles

Show Suggested Answer

Suggested Answer: A

by Julieta at Jan 14, 2025, 11:38 AM

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Rosalyn

24 days ago

I'm going with B. Institutions need to prove they're playing by the rules before we can trust them with our money.

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Louisa

25 days ago

I'm not sure, but it makes sense that they would need to know about the institution's licenses or certifications to prevent illicit transactions.

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Rodrigo

26 days ago

Ha! As if financial institutions would willingly share their clients' dirty laundry. B is the way to go.

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Fabiola

8 days ago

Yes, it's important for them to verify the legitimacy of the institution they are dealing with.

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Loise

9 days ago

I agree, financial institutions are very careful about sharing client information.

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Merilyn

1 months ago

I agree with Aron. Financial institutions need to verify the legitimacy of their foreign correspondent relationships.

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Aron

1 months ago

I think the answer is B) The institution's licenses or certifications.

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Bernardine

1 months ago

D seems like a reasonable answer too. Knowing the client profiles could help identify any potential illicit activities.

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Armanda

9 days ago

D) The institution's client loan profiles

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Xochitl

20 days ago

C) The institution's tax statements

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Sheridan

21 days ago

B) The institution's licenses or certifications

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Ena

1 months ago

A) The institution's branch addresses

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Marla

2 months ago

I think the correct answer is B. Knowing the institution's licenses and certifications is crucial to verify its legitimacy and compliance with regulations.

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Arminda

19 days ago

Yes, knowing the institution's licenses and certifications is essential for compliance with regulations.

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Rosenda

28 days ago

I think it's important to verify the institution's licenses and certifications to prevent money laundering.

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Curt

1 months ago

I agree, option B is the correct answer. It helps ensure the institution is operating legally.

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