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ACFE CFE-Investigation Exam - Topic 1 Question 56 Discussion

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?
A) The institution's branch addresses
B) The institution's licenses or certifications
C) The institution's tax statements
D) The institution's client loan profiles

ACFE CFE-Investigation Exam - Topic 1 Question 56 Discussion

Actual exam question for ACFE's CFE-Investigation exam
Question #: 56
Topic #: 1
[All CFE-Investigation Questions]

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?

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Suggested Answer: A

by Tawna at Aug 22, 2022, 11:20 AM

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Yaeko
7 months ago
I thought client loan profiles would be more relevant.
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Mozell
7 months ago
Branch addresses are important too, but B is crucial.
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Rosalind
7 months ago
Wait, are we really asking for tax statements? Seems odd.
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Janae
8 months ago
I agree, B is the right choice here.
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Tiffiny
8 months ago
Definitely need the institution's licenses or certifications!
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Cherilyn
8 months ago
I’m a bit confused. I thought it was about tax statements, but now I’m second-guessing myself after reviewing the material.
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Serita
8 months ago
This question feels familiar! I think we practiced one about foreign correspondent relationships, and I believe it was about licenses or certifications.
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Lanie
8 months ago
I remember discussing the importance of knowing the institution's branch addresses for compliance, but I can't recall if that's the right answer here.
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Truman
8 months ago
I think it might be the institution's licenses or certifications, but I'm not entirely sure. We covered something similar in class.
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Loren
8 months ago
The key here is properly representing the volunteer's relationship to Universal Containers in Salesforce. Based on the details provided, I think option B, creating an Affiliation record, is the cleanest solution.
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Cathrine
8 months ago
Okay, I think I've got a good handle on this. The key is to focus on what happens when the user cancels the Pageflow after the Service task runs.
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Magda
8 months ago
I remember we discussed how to calculate the total share options expensed based on the expected number of employees remaining. I think I need to double-check that calculation.
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