ACFE ACFE-CFE Online Practice Questions and Exam Preparation

ACFE ACFE-CFE Online Questions & Answers

• Question 41:

  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 42:

  Accounting records are designed to be kept on subjective rather than objective evidence.

  A. True
  B. False
  B. False

• Question 43:

  Which of the following method is NOT used to detect conflicts of interest?

  A. Tips and Complaints
  B. Review of vendor ownership files
  C. Underbillings of assets
  D. Interviews with purchasing personnel
  C. Underbillings of assets

• Question 44:

  According to Hollinger and Clark for Policy development, management must pay attention to:

  A. A clear understanding regarding theft behavior
  B. Enforcement of sanctions
  C. Both A and B
  D. Neither A nor B
  C. Both A and B

• Question 45:

  Bank cut-off statements should be requested for 10-15 days after the closing date of the balance sheet.

  A. True
  B. False
  A. True

• Question 46:

  __________ can be defined as conduct detrimental to the organization and to the employee.

  A. Employee deviance
  B. Employee theft
  C. Employee fraud
  D. All of the above
  A. Employee deviance

• Question 47:

  Undisclosed payments made by vendors to employees of purchasing companies are referred to as: A. Bid-rigging

  B. Kickbacks

  C. Presolicitaion

  D. None of the above

  Correct Answer. B
  B

• Question 48:

  Which of the following can constitute a bribe, even if the illicit payment is never actually made?

  A. Offering a payment
  B. Corruption in payment
  C. kickback payment
  D. Overbilling in payment
  A. Offering a payment

• Question 49:

  ___________ is to allow the owner, investors, creditors and others with an interest to know the appropriate book worth of the business at a particular date.

  A. Equity
  B. Balance sheet
  C. Income statement
  D. Financial record
  B. Balance sheet

• Question 50:

  Which of the following are the classifications for the Corruption?

  A. Bribery, economic extortion, illegal gratuities and conflicts of interest
  B. Corruption, bribery, economic extortion, conflicts of interest
  C. Overbilling, bribery, bid-ridding and illegal gratuities
  D. economic extortion, bribery, illegal gratuities and corruption
  A. Bribery, economic extortion, illegal gratuities and conflicts of interest