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ACFE CFE-Law Exam - Topic 1 Question 2 Discussion

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?
B) The agent must have had an undisclosed interest m a matter that could influence their professional role
A) The agent must have purported to act on behalf of or as an agent for an identified principal
C) The agent must have informed the principal of their actions
D) The agent must have been authorized by someone with actual authority to carry out the transaction at issue

ACFE CFE-Law Exam - Topic 1 Question 2 Discussion

Actual exam question for ACFE's CFE-Law exam
Question #: 2
Topic #: 1
[All CFE-Law Questions]

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?

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Suggested Answer: B

by Vincenza at Aug 23, 2022, 06:37 PM

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Ezekiel
7 months ago
D seems too strict, not every transaction needs actual authority, right?
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Felix
7 months ago
I agree with B, it’s all about transparency in professional roles.
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Vallie
7 months ago
Wait, can it really be actionable if the agent didn't inform the principal? Sounds off.
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Annelle
8 months ago
I think A is more accurate, the principal needs to be identified first.
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Markus
8 months ago
Definitely B, undisclosed interests are a big deal!
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Goldie
8 months 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.
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Brett
8 months 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?
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Shakira
8 months 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.
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Helaine
8 months 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.
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Brianne
8 months ago
I'm pretty confident that "nmcli device" and "nmcli connection" are valid subcommands, but I'm not sure about the others.
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Aliza
8 months 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.
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Ashton
8 months 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.
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Eladia
8 months 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.
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Maile
8 months ago
I remember something about copying objects and the constructor count, but 15 seems too high.
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