ACFE ACFE-CFE Online Practice Questions and Exam Preparation

ACFE ACFE-CFE Online Questions & Answers

• Question 71:

  The most common method for billing scheme is:

  A. Register
  B. Tips
  C. Accident
  D. None of the above
  B. Tips

• Question 72:

  __________ is required if and when officers, executives or other persons in trusted positions become subjects of a criminal indictment.

  A. Conflict of interest
  B. Turnaround sale or flip
  C. Disclosure
  D. Resource diversion
  C. Disclosure

• Question 73:

  The price of an asset on which the asset is selling at on the open market in a transaction between a willing buyer and a wiling seller is called:

  A. Absolute value
  B. Fair value
  C. Cost value
  D. material value
  B. Fair value

• Question 74:

  When a victim company purchases unnecessary goods or services from a supplier at the direction of the corrupt employee, this results in:

  A. Presolicitation scheme
  B. Need recognition scheme
  C. False sole-source scheme
  D. Submission scheme
  B. Need recognition scheme

• Question 75:

  Conflict of interest cases are more easily prevented than detected.

  A. True
  B. False
  A. True

• Question 76:

  CORRECT TEXT __________ means that traditional bribery statutes proscribe only payments made to influence the decisions of government agents or employees.

  Official act

• Question 77:

  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 78:

  Employees steal an incoming payment and then place the incoming funds in an interest bearing account for:

  A. Converting stolen checks
  B. Concealing the fraud
  C. Short-term skimming
  D. All of the above
  C. Short-term skimming

• Question 79:

  When employees avoid detection in a refund scheme to keep the sizes of the disbursement low, is referred to:

  A. Small disbursements
  B. Very small disbursements
  C. Simple disbursements
  D. None of the above
  A. Small disbursements

• Question 80:

  Once the expense account is closed, it becomes a historical item and probably will never be reviewed again.

  A. True
  B. False
  A. True