ACFE ACFE-CFE Online Practice Questions and Exam Preparation

ACFE ACFE-CFE Online Questions & Answers

• Question 11:

  ___________ and __________ are used to increase (or decrease) the equity account.

  A. Journal Entries and Debit
  B. Journal Entries and transactions
  C. Journal Entries and Credit
  D. None of all
  B. Journal Entries and transactions

• Question 12:

  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 13:

  Physical tampering prevention is a check tampering technique that is used to secure bankassisted controls.

  A. True
  B. False
  B. False

• Question 14:

  CORRECT TEXT The _______________ cost method of pricing would carry an asset's value on the financial statements as what it would currently cost, considering inflation.

  Price-level adjusted historical cost

• Question 15:

  ________ increase assets and expenses and/or decrease liabilities and/or equity

  A. Journal Entries
  B. Debit
  C. Credit
  D. None of all
  B. Debit

• Question 16:

  When situational pressures and perceived opportunities are low and personal integrity is high, occupational fraud is much more likely to occur than when the opposite is true.

  A. True
  B. False
  B. False

• Question 17:

  A running count that records how much inventory should be on hand is referred to:

  A. Altered inventory
  B. Perpetual inventory
  C. Shrinking inventory
  D. Fictitious inventory
  B. Perpetual inventory

• Question 18:

  What is sometimes used to overcome well-designed internal controls of a victim company?

  A. Shell company
  B. Fraudulent invoices
  C. Collusion
  D. Rubber stamp supervisors
  C. Collusion

• Question 19:

  ______________ can be detected by closely examining the documentation submitted with the cash receipts.

  A. Voided purchases
  B. Fictitious refunds
  C. Approved transaction
  D. None of the above
  B. Fictitious refunds

• Question 20:

  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