Lying to whom, for what?
As long as your story and their story jive, it's fine. But the problem is that it's very likely that people will ask you the details. What does "academic reasons" mean? Sometimes people fail a clerkship because they fail the shelf exam -- that's easy to explain. But if I'm interviewing you and I ask you "why did you fail XYZ?" and you answer "academic reasons", that's not acceptable.
If you're asking about licensing forms, etc, they usually don't want this level of detail.
So, more detail about exactly what csituation you're describing would be helpful