ACFE Exam CFE-Investigation Topic 5 Question 86 Discussion

Actual exam question for ACFE's CFE-Investigation exam

Question #: 86
Topic #: 5

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 Jamika at May 09, 2024, 04:53 PM

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Lina

6 months ago

Good points. I think B covers the necessary credentials they need for trust.

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Cruz

6 months ago

I was confused between A and B, but now leaning towards B too.

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Erick

6 months ago

Agreed. Licenses are essential for legal operations. Makes sense.

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Emilio

6 months ago

B seems logical. They need to verify the institution's legitimacy.

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Leoma

7 months ago

Yeah, it's definitely about compliance. I think licenses or certifications would be the right answer.

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Talia

7 months ago

Wow, this question is pretty specific, isn't it?

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