Question : 11) Which of the following statements true of a testifying : 1222556

 

11) Which of the following statements is true of a testifying economic expert in civil litigation?

A) The expert is responsible for preparing or reviewing a report and critiquing the opposing expert’s report when engaged by the defendant’s counsel.

B) The primary role of an economic expert in a damages claim is to punish a defendant’s intentional or reckless behavior.

C) An economic expert can be engaged by counsel for the plaintiff but not for the defendant in a damages claim.

D) An economic expert will usually prepare a report that sets forth his or her opinion of damages when engaged by the plaintiff’s counsel.

12) The primary role of an economic expert in a damages claim is to

A) prepare a reviewing and critiquing the opposing expert’s report.

B) place a dollar value on the various damages components that have been identified.

C) establish the facts of the damages claim to define the nature and extent of the injury.

D) establish the parameters of the damages determine the impact of the injury on the plaintiff.

13) Which of the following statements is true of the damages experts in litigation?

A) An economic expert relies on the opinions of those who establish the facts of the damages claim, who in turn relies on the opinions of those who establish the parameters of the damages.

B) The primary role of an economic expert in a damages claim is to establish the facts of the damages claim to define the nature and extent of the injury.

C) The economic expert has to rely solely on his own technical knowledge and skills in determining the damages as other experts can be biased by personal interests.

D) An economic expert is often the last witness to testify in a damages claim.

14) Which of the following statements best differentiates compensatory and punitive damages in civil litigation?

A) Compensatory damages are meant to reward a plaintiff, while punitive damages are meant to reward a defendant.

B) Compensatory damages are meant to compensate a plaintiff’s loss, while punitive damages are meant to deter similar misconduct by the same defendant or other parties in the future.

C) Compensatory damages are meant to reward a defendant, while punitive damages are meant to punish a claimant.

D) Compensatory damages are benefit streams the plaintiff would have received if not for the injury, while punitive damages are the benefit streams the plaintiff will receive for future damages.

15) The two components of lost earnings in a civil litigation claiming damages are

A) expected lost earnings and unexpected lost earnings.

B) past lost earnings and recoverable lost earnings.

C) past lost earnings and future lost earnings.

D) past lost earnings and unexpected lost earnings.

16) Which of the following statements is true of projected earnings in a damages claim?

A) Calculating lost wages requires the projection of two separate earnings streams: past lost earnings and recoverable lost earnings.

B) Lost earnings constitutes the difference between pre-injury earnings and post-injury earnings.

C) Pre-injury earnings and post-injury earnings are the two subcomponents of lost earnings in a civil litigation claiming damages.

D) Post-injury earnings is what the plaintiff would have earned if not for the injury.

17) Which of the following statements is true of the calculation of economic damages in a civil litigation?

A) In economic damages calculations, risk is not an issue, since the discount rate is supposed to represent a risk-free rate.

B) All past economic damages must be reduced to present value, which requires the application of a discount rate.

C) Calculations of economic damages are often based on a set of foundational facts rather than assumptions.

D) An economic expert must convert future losses to present value using the applicable interest rate.

18) Which of the following statements is true of the calculation of economic damages in a civil litigation?

A) All future economic damages must be reduced to present value, which requires the application of a discount rate.

B) Calculations of economic damages are often based on a set of foundational assumptions rather than facts.

C) Interest on past economic damages is always calculated by a forensic accountant.

D) Worklife expectancy is the period of time a person is expected to live past retirement.

19) Which of the following statements is a valid reason for inconsistencies in opinions of damages experts?

A) A large component of economic damages is past damages, the calculation of which relies on projections of inherently uncertain past events.

B) Economic damages calculations require the application of logic, which allows for multiple interpretations.

C) Damages are calculated for specific individuals or entities, with many unique attributes that are universally perceived or evaluated.

D) All past economic damages must be reduced to present value, which requires the application of a discount rate.

20) Which of the following statements is true of forensic accountants in litigations involving computer forensics?

A) In cases where a computer expert is needed, the forensic accountant may rely on the computer expert’s opinions in forming his or her own opinions but should not assist the court in selecting the expert.

B) In cases where a computer expert is needed, the forensic accountant may assist the court in selecting the expert but should not rely on the computer expert’s opinions in forming his or her own opinions.

C) Although forensic accountants are not expected to evaluate a computer expert’s analysis, they should have sufficient knowledge of the subject matter to identify any gross errors or failures.

D) Although forensic accountants are not expected to have sufficient knowledge of the subject matter to identify any gross errors or failures, they should evaluate a computer expert’s analysis.

 

 

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