ACFE ACFE-CFE Online Practice Questions and Exam Preparation

ACFE ACFE-CFE Online Questions & Answers

• Question 51:

  Maintain the presence of a manager or supervisor near the area of the cash register as a deterrent to theft is a prevention for:

  A. Fraudulent statement scheme
  B. Asset misappropriation scheme
  C. Larceny scheme
  D. Register disbursement scheme
  D. Register disbursement scheme

• Question 52:

  If the assets are intentionally purchased by the company but simply misappropriated by the fraudster, this is referring to as:

  A. Inventory larceny scheme
  B. Asset receiving scheme
  C. Fraudulent purchase
  D. Falsify shipping
  A. Inventory larceny scheme

• Question 53:

  The amount of cash on hand in a register may be compared to the amount showing in the register tape in order to detect _______.

  A. Employee theft
  B. Recorded sales
  C. Internal audits
  D. Occupational frauds
  A. Employee theft

• Question 54:

  The seller's price to the buyer is not fixed or determinable when:

  A. When the price is not contingent on some future events
  B. The transaction includes an option to exchange the product for others.
  C. A service or membership fee is not subject predictable cancellation during the contract period.
  D. Payment terms are not extended for a substantial period.
  B. The transaction includes an option to exchange the product for others.

• Question 55:

  __________ may be defined as the offering, giving, receiving or soliciting anything of value to influence an official act.

  A. Corruption
  B. Diverting business to vendors
  C. Bribery
  D. Lacking approval authority
  C. Bribery

• Question 56:

  Which of the following is the amount of money that would be realized upon the sale of the asset at some point in the future, less the costs associated with owing, operating and selling it?

  A. Net realizable value
  B. Going concern
  C. Cost
  D. Fair value
  A. Net realizable value

• Question 57:

  One reason employees might be hesitant to use PO boxes in shell company schemes is that some businesses are specially vary of sending checks to vendors that have street addresses only.

  A. True
  B. False
  B. False

• Question 58:

  Maintain the presence of a manager or supervisor near the area of the cash register as a deterrent to theft is a prevention for:

  A. Fraudulent statement scheme
  B. Asset misappropriation scheme
  C. Larceny scheme
  D. Register disbursement scheme
  D. Register disbursement scheme

• Question 59:

  Which of the following are used in a short term skimming scheme?

  A. Unrecorded sales, understated sales and theft of incoming checks
  B. Unrecorded sales, understated sales and dual endorsements
  C. False company accounts, understated sales and theft of incoming checks
  D. Understated sales, theft of incoming checks and check-for-currency substitutions
  A. Unrecorded sales, understated sales and theft of incoming checks

• Question 60:

  How many accounts are affected in fraudulent accounting entries and therefore same number of categories on the financial statement?

  A. One
  B. At least two
  C. More than two
  D. None of above
  A. One