ACFE ACFE-CFE Online Practice Questions and Exam Preparation

ACFE ACFE-CFE Online Questions & Answers

• Question 151:

  _________ revenues involve the recording sales of goods or services hat did not occur.

  A. Fictitious or fabricated revenues
  B. Financial revenues
  C. Red flag revenues
  D. Concealed revenues
  A. Fictitious or fabricated revenues

• Question 152:

  The scheme in which the same vendor is receiving favorable treatment van be found in purchases by vendor searches.

  A. True
  B. False
  A. True

• Question 153:

  Another way to eliminate competition in the solicitation phase of the selection process is to:

  A. Solicit bid from fictitious suppliers
  B. Solicit transaction from fictitious vendors
  C. Solicit bid-splitting from fictitious vendors
  D. None of the above
  A. Solicit bid from fictitious suppliers

• Question 154:

  Which are check tempering frauds in which an employee prepares a fraudulent check and submits it usually along with legitimate checks to an authorized maker who signs it without a proper review?

  A. Endorse check scheme
  B. Legitimate check scheme
  C. Payable check scheme
  D. Concealed check scheme
  D. Concealed check scheme

• Question 155:

  According to fraud tree, cash has three following schemes:

  A. Skimming, cash larceny and fraudulent disbursements
  B. Fraud analysis, skimming and cash misappropriations
  C. Cash larceny, cash distribution and fraudulent disbursements
  D. Cash distribution, skimming and fraud analysis
  A. Skimming, cash larceny and fraudulent disbursements

• Question 156:

  A fabricated name and the post office box that an employee uses to collect disbursements from false billings is called:

  A. Accomplice residence
  B. Shell company
  C. Perpetrator check
  D. Cash generator
  B. Shell company

• Question 157:

  Which of the following is NOT the method for stealing inventory and other assets?

  A. Larceny schemes
  B. Asset requisition and transfer
  C. Purchasing and receiving schemes
  D. Sales and Equipment handling
  D. Sales and Equipment handling

• Question 158:

  The essential elements of a ________ are an actual or constructive taking away of the goods or property of another with the without the consent and against the will of the owner and with a felonious intent.

  A. Larceny
  B. Abuse
  C. Fiduciary
  D. None of the above
  A. Larceny

• Question 159:

  A technique by which checks are numbered using a new technique that is revealed by a colored highlighter pen or by a bright light held behind the check is called: A. Microline numbering

  B. Holographic safety border

  C. Embossed pearlescent numbering

  D. None of the above

  Correct Answer. B
  B

• Question 160:

  The principle behind full disclosure is:

  A. Any material deviation from GAAP must be explained to the reader of the financial information.
  B. Any material deviation from SAS must be explained to the writer oh the financial information.
  C. Any material deviation from GAAP must be explained to writer of the financial information.
  D. None of above
  A. Any material deviation from GAAP must be explained to the reader of the financial information.