ACFE ACFE-CFE Online Practice Questions and Exam Preparation

ACFE ACFE-CFE Online Questions & Answers

• Question 31:

  A voucher is:

  A. a file that includes the purchase order that was send to the vendor, the vendor invoice listing the cost and quantity of items purchased, and the internal receiving reports that verify the purchased items have been delivered.
  B. a figure that includes the sale order that was send to the dealer, the vendor invoice listing the cost and quantity of items sold, and the internal receiving reports that verify the purchased items have been delivered.
  C. a report that includes the purchase order that was send to the vendor, the vendor invoice listing the quality and quantity of items purchased, and the external receiving reports that verify the items have been sold.
  D. a mammogram that includes the purchase order that was send to the purchaser, the purchaser invoice listing the benefits and quantity of items purchased, and the internal receiving reports that verify the purchased items have been sold.
  A. a file that includes the purchase order that was send to the vendor, the vendor invoice listing the cost and quantity of items purchased, and the internal receiving reports that verify the purchased items have been delivered.

• Question 32:

  Fraudsters use the accounting system as a tool to generate the results they want in ___________ approach:

  A. Organized accounting
  B. Playing the accounting
  C. beating accounting
  D. All of the above
  B. Playing the accounting

• Question 33:

  In which of the following process, all bidders are legally supposed to be placed on the same plane of equality, bidding on the same terms and conditions?

  A. Bid-rigging
  B. Kickbacks
  C. Competitive bidding
  D. Bid solicitation
  C. Competitive bidding

• Question 34:

  Asset misappropriations have an effect on the liabilities and do also have an indirect effect on the equity account.

  A. True
  B. False
  B. False

• Question 35:

  Verify supporting documentation on outstanding checks written for a material amount is a test used to conduct for:

  A. Check disbursement
  B. Bank confirmation
  C. Bank confirmation
  D. Cut-off statements
  C. Bank confirmation

• Question 36:

  CORRECT TEXT ______________ is required not only for theft, but for procedures to detect errors, avoid waste and insure a proper amount of inventory is maintained.

  Inventory control

• Question 37:

  Which of the following is NOT standard of generally accepted accounting principles?

  A. Conservatism
  B. Cost
  C. Full disclosure
  D. Quality control
  D. Quality control

• Question 38:

  The act of an official or fiduciary person who unlawfully and wrongfully uses his station or character to procure some benefit, contrary to duty and rights of others is called:

  A. Conflict of interest
  B. Corruption
  C. Bribery
  D. Overbilling
  B. Corruption

• Question 39:

  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 40:

  The scheme which reduces victim companies to issue fraudulent payments for goods or services that they have not received is called:

  A. Bogus claims
  B. Billing scheme
  C. Reliance billing
  D. Misappropriate claims
  A. Bogus claims