Discuss ACFE CFE-Law Exam Topic 1 Question 2

Which of the following is the MOST ACCURATE statement about the circumstances under which a conflict of interest claim would be actionable against an agent?

AThe agent must have purported to act on behalf of or as an agent for an identified principal

BThe agent must have had an undisclosed interest m a matter that could influence their professional role

CThe agent must have informed the principal of their actions

DThe agent must have been authorized by someone with actual authority to carry out the transaction at issue

Suggested Answer: B

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14 comments · newest first

Ezekiel 12 months ago

D seems too strict, not every transaction needs actual authority, right?

Felix 12 months ago

I agree with B, it’s all about transparency in professional roles.

Vallie 12 months ago

Wait, can it really be actionable if the agent didn't inform the principal? Sounds off.

Annelle 1 year ago

I think A is more accurate, the principal needs to be identified first.

Markus 1 year ago

Definitely B, undisclosed interests are a big deal!

Goldie 1 year ago

I practiced a similar question where authority was key, so I wonder if option D could also be relevant here. But I'm not completely confident.

Brett 1 year ago

I thought it was important for the agent to inform the principal about their actions, but I can't recall if that alone makes it actionable. Maybe option C?

Shakira 1 year ago

I'm not entirely sure, but I feel like the agent needs to be acting on behalf of a principal for a claim to be actionable. That makes me lean towards option A.

Helaine 1 year ago

I remember discussing how an agent's undisclosed interests can lead to conflicts of interest, so I think option B might be the right choice.

Brianne 1 year ago

I'm pretty confident that "nmcli device" and "nmcli connection" are valid subcommands, but I'm not sure about the others.

Aliza 1 year ago

Hmm, this seems straightforward. I'll need to carefully review the information about the investment classification and the accounting treatment of the agency fees.

Ashton 1 year ago

Okay, I think I've got a plan. I'll update the user's sign-in name in the user record, and then I'll check to make sure that all the application history is still intact. Hopefully, that will do the trick.

Eladia 1 year ago

This question seems straightforward, but I want to make sure I understand the key factors the auditor should consider. I'll need to carefully review the options.

Maile 1 year ago

I remember something about copying objects and the constructor count, but 15 seems too high.

ACFE CFE-Law Exam - Topic 1 Question 2 Discussion