ACFE Exam CFE-Law 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:

AForged filing

BA planned bustcut

CA credit card bustout

DConcealment of assets

Show Suggested Answer

Suggested Answer: D

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

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Ernest

1 months ago

Definitely gotta go with D) Concealment of assets. Hiding your money before going bankrupt is the oldest trick in the book.

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Daisy

1 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.

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Han

1 months ago

A) Forged filing? That's some serious forgery skills. I bet the fraudsters have great penmanship.

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Willard

1 days ago

C) A credit card bustout? That sounds like a quick way to get caught.

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Magnolia

2 days ago

B) A planned bustcut? Sounds like a risky move.

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Johnathon

13 days ago

A) Forged filing? That's some serious forgery skills. I bet the fraudsters have great penmanship.

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Lawrence

13 days ago

A credit card bustout sounds risky. They must rack up a lot of debt quickly.

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Cherilyn

14 days ago

I think concealment of assets is also a common scheme. They try to hide their money to avoid paying debts.

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Lorenza

18 days ago

Yeah, forged filing is a serious crime. They must be really good at faking documents.

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Shalon

2 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.

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Quinn

19 days ago

Rashad: Oh, I had no idea. Thanks for the info!

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Rashad

25 days ago

User 2: D) Concealment of assets is actually the most common bankruptcy fraud scheme.

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Amber

1 months ago

User 1: C) A credit card bustout does sound tempting, but it's definitely illegal.

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Mila

2 months ago

D) Concealment of assets seems like the most logical answer here. Hiding assets is a classic bankruptcy fraud tactic.

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Shayne

1 months ago

Yes, hiding assets can make it difficult for creditors to collect what they are owed.

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Cherelle

1 months ago

I agree, concealing assets is a common way people commit bankruptcy fraud.

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Hassie

2 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.

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Edmond

2 months ago

I disagree, I believe it's concealment of assets because it's easier to hide assets than to commit credit card fraud.

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Marleen

2 months ago

I think the most common bankruptcy fraud scheme is a credit card bustout.

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Lewis

2 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.

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Carissa

2 months ago

I disagree, I believe it's concealment of assets because it's easier to hide assets than to commit credit card fraud.

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Hector

3 months ago

I think the most common bankruptcy fraud scheme is a credit card bustout.

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