New Year Sale 2026! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

ACFE CFE-Law Exam - Topic 1 Question 20 Discussion

Actual exam question for ACFE's CFE-Law exam
Question #: 20
Topic #: 1
[All CFE-Law Questions]

The MOST COMMON bankruptcy fraud scheme is:

Show Suggested Answer Hide Answer
Suggested Answer: D

by Marti at Jul 09, 2023, 09:16 AM

Limited Time Offer

25%

Off

Get Premium CFE-Law Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

0/2000 characters
Submit Cancel
Miss
3 months ago
Forged filings are also a big problem, though.
upvoted 0 times
...
Julio
4 months ago
A planned bustout sounds risky but interesting!
upvoted 0 times
...
Nadine
4 months ago
Wait, are we sure about that? Seems too obvious.
upvoted 0 times
...
Toi
4 months ago
Totally agree, it's definitely the biggest issue.
upvoted 0 times
...
Ramonita
4 months ago
I heard concealment of assets is super common.
upvoted 0 times
...
Arlean
5 months ago
I remember discussing credit card bustouts in class, but I thought concealment of assets was more prevalent overall.
upvoted 0 times
...
Mila
5 months ago
I feel like forged filings are pretty serious, but I can't recall if they are the most frequent type of fraud.
upvoted 0 times
...
Crista
5 months ago
I practiced a question similar to this, and I think the planned bustout was mentioned as a common scheme. Not sure if that's the answer here though.
upvoted 0 times
...
Stevie
5 months ago
I think I remember that concealment of assets is a big issue in bankruptcy fraud, but I'm not entirely sure if it's the most common.
upvoted 0 times
...
Veronica
5 months ago
Hmm, this looks like a tricky one. I'll need to carefully analyze the service file details to determine the best approach.
upvoted 0 times
...
Timmy
5 months ago
This seems like a straightforward question. The supplier is advising customers to install an older version of the application as a temporary fix, which is a classic example of a workaround.
upvoted 0 times
...
Gaston
5 months ago
Process models could be a good option, as they can provide a clear understanding of the organization's workflows. But I'm not sure if that's the most relevant artifact for this particular request.
upvoted 0 times
...
Devon
5 months ago
I feel like we practiced a similar question about certificate lengths, and wasn't D somehow a valid reason but not necessarily related to the format?
upvoted 0 times
...
Ernest
10 months ago
Definitely gotta go with D) Concealment of assets. Hiding your money before going bankrupt is the oldest trick in the book.
upvoted 0 times
...
Daisy
10 months ago
D) Concealment of assets is the correct answer. Although I'm more curious about this 'planned bustcut' option. Sounds like a party trick gone wrong.
upvoted 0 times
...
Han
10 months ago
A) Forged filing? That's some serious forgery skills. I bet the fraudsters have great penmanship.
upvoted 0 times
Novella
9 months ago
D) Concealment of assets? That seems like a common tactic in fraud schemes.
upvoted 0 times
...
Willard
9 months ago
C) A credit card bustout? That sounds like a quick way to get caught.
upvoted 0 times
...
Magnolia
9 months ago
B) A planned bustcut? Sounds like a risky move.
upvoted 0 times
...
Johnathon
9 months ago
A) Forged filing? That's some serious forgery skills. I bet the fraudsters have great penmanship.
upvoted 0 times
...
Lawrence
9 months ago
A credit card bustout sounds risky. They must rack up a lot of debt quickly.
upvoted 0 times
...
Cherilyn
9 months ago
I think concealment of assets is also a common scheme. They try to hide their money to avoid paying debts.
upvoted 0 times
...
Lorenza
9 months ago
Yeah, forged filing is a serious crime. They must be really good at faking documents.
upvoted 0 times
...
...
Shalon
10 months ago
I'm not too familiar with bankruptcy fraud, but C) A credit card bustout sounds like a fun way to get in trouble.
upvoted 0 times
Quinn
9 months ago
Rashad: Oh, I had no idea. Thanks for the info!
upvoted 0 times
...
Rashad
9 months ago
User 2: D) Concealment of assets is actually the most common bankruptcy fraud scheme.
upvoted 0 times
...
Amber
10 months ago
User 1: C) A credit card bustout does sound tempting, but it's definitely illegal.
upvoted 0 times
...
...
Mila
11 months ago
D) Concealment of assets seems like the most logical answer here. Hiding assets is a classic bankruptcy fraud tactic.
upvoted 0 times
Shayne
10 months ago
Yes, hiding assets can make it difficult for creditors to collect what they are owed.
upvoted 0 times
...
Cherelle
10 months ago
I agree, concealing assets is a common way people commit bankruptcy fraud.
upvoted 0 times
...
...
Hassie
11 months ago
I'm not sure, but I think forged filing could also be a common bankruptcy fraud scheme because it's easy to fake documents.
upvoted 0 times
...
Edmond
11 months ago
I disagree, I believe it's concealment of assets because it's easier to hide assets than to commit credit card fraud.
upvoted 0 times
...
Marleen
11 months ago
I think the most common bankruptcy fraud scheme is a credit card bustout.
upvoted 0 times
...
Lewis
11 months ago
I'm not sure, but I think forged filing could also be a common bankruptcy fraud scheme because it's easy to fake documents.
upvoted 0 times
...
Carissa
11 months ago
I disagree, I believe it's concealment of assets because it's easier to hide assets than to commit credit card fraud.
upvoted 0 times
...
Hector
11 months ago
I think the most common bankruptcy fraud scheme is a credit card bustout.
upvoted 0 times
...

Save Cancel