ACFE ACFE-CFE Online Practice Questions and Exam Preparation

ACFE ACFE-CFE Online Questions & Answers

• Question 1:

  Which check tampering red flag may indicate employees have embezzled cash and charged the embezzlement to expense accounts?

  A. Voided checks
  B. Payable checks
  C. Missing checks
  D. Duplicate checks
  C. Missing checks

• Question 2:

  Occupational fraud and abuse is a (an) __________ of doing business, in much the same way that we pay expenses for electricity, taxes and wages.

  A. Equity
  B. Balance sheet
  C. Expense
  D. Financial record
  C. Expense

• Question 3:

  Skimming cases can more likely to be detected by:

  A. Internal audits
  B. Accidents
  C. Internal controls
  D. occupational frauds
  B. Accidents

• Question 4:

  Which of the following is NOT the reason to bribe employees of the purchaser?

  A. To ensure receipt of a late bid
  B. To extend the bid opening date
  C. To ensure bid-splitting
  D. To falsify the bid log
  C. To ensure bid-splitting

• Question 5:

  Delivery has not occurred or services have not been rendered when:

  A. Until installation and customer testing and acceptance has occurred.
  B. A written order exists but contains a right of return.
  C. Both A and B
  D. Neither A nor B
  B. A written order exists but contains a right of return.

• Question 6:

  Depreciation is especially applicable when companies try to overvalue their assets and net worth; the lower their depreciation expense, the higher the company's profits.

  A. True
  B. False
  A. True

• Question 7:

  A shell company scheme in which actual goods or services are sold to the victim company is known as:

  A. Maintenance scheme
  B. Allocation scheme
  C. Distribution scheme
  D. Pass-through scheme
  D. Pass-through scheme

• Question 8:

  In Cressey's fraud triangle, its three of the legs are Opportunity, Pressure and

  A. Violation
  B. Isolation
  C. Rationalization
  D. None of the above
  C. Rationalization

• Question 9:

  The person or persons who have access to __________ are often the targets of unethical vendors seeking an advantage in the process.

  A. Bid-splitting
  B. Sealed bids
  C. General purchasing
  D. Tailor specifications
  B. Sealed bids

• Question 10:

  Asset misappropriation schemes were the "middle children" of the study; they were more common than fraudulent statements and more costly than corruption.

  A. True
  B. False
  B. False