ACFE ACFE-CFE Online Practice Questions and Exam Preparation

ACFE ACFE-CFE Online Questions & Answers

• Question 91:

  A ___________ occurs when an employee, manager or executive has an undisclosed economic or personal interest in a transaction that adversely affects the organization.

  A. Conflict of interest
  B. Illegal sale
  C. Unauthorized purchase
  D. Financial disclosure
  A. Conflict of interest

• Question 92:

  _________ normally are carried on an organization's books as expenses because they tend to be consumed by the organization within a year of purchase.

  A. Supplies
  B. Expenses
  C. Assets
  D. Equity
  A. Supplies

• Question 93:

  The more power a person has over the bidding process, the more likely the person can influence the selection of a supplier.

  A. True
  B. False
  A. True

• Question 94:

  According to Marshall, ______ are probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events.

  A. Assets
  B. Liabilities
  C. Credentials
  D. None of above
  A. Assets

• Question 95:

  In ___________ scheme, an employee creates false vouchers or submits false invoices to the employer.

  A. Sale requisition
  B. Purchase requisition
  C. Voucher handling
  D. Cash generating
  D. Cash generating

• Question 96:

  CORRECT TEXT _________ is defined as a person who works for the victim organization and who is primary culprit

  Principal perpetrator

• Question 97:

  Which of the following must be present for a fraud to exist?

  A. A material false statement
  B. Knowledge that the statement was false when it was uttered
  C. Reliance on the fast statement by the victim
  D. All of the above
  D. All of the above

• Question 98:

  ____________ is a process by which a bookkeeper records all transactions and can adjust the books.

  A. Journal Entries
  B. Accounting Cycle
  C. Financial statement
  D. None of all
  A. Journal Entries

• Question 99:

  A process by which several bidders conspire to split contracts up and ensure that each gets a certain amount of work is called:

  A. Bid opening
  B. Fictitious Bidding
  C. Bid pooling
  D. Bid log
  C. Bid pooling

• Question 100:

  Which sale occurs when the accomplice of the employee-fraudster "buys" merchandise, but the employee does not ring up the sale, and the accomplice takes the merchandise without making any payment?

  A. Whole sale
  B. Fake sale
  C. Fraudster sale
  D. Preliminary sale
  B. Fake sale