ACFE CFE-FINANCIAL-TRANSACTIONS-AND-FRAUD-SCHEMES Online Practice Questions and Exam Preparation

ACFE CFE-FINANCIAL-TRANSACTIONS-AND-FRAUD-SCHEMES Online Questions & Answers

• Question 1:

  What can make it easy for an employee to skim sales or receivables?

  A. Revenue sources and recording procedures
  B. Poor collection and recording procedures
  C. Internal audits and recording procedures
  D. Register manipulations and recording procedures
  B. Poor collection and recording procedures

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  Explanation/Reference:

• Question 2:

  Which of the four basic measures, if properly installed and implemented may help prevent inventory fraud?

  A. Proper documentation, segregation of duties, independent checks and physical safeguards
  B. Proper documentation, segregation of duties, independent checks and inventory control
  C. Proper documentation, physical padding, independent checks and physical safeguards
  D. prenumbered affiliations, segregation of duties, independent checks and physical safeguards
  A. Proper documentation, segregation of duties, independent checks and physical safeguards

• Question 3:

  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 4:

  Which of the following are not of Basic types of non-sharable problems?

  A. Violation of ascribed obligations
  B. Business reversals
  C. Physical Isolation
  D. Larceny by Fraud
  D. Larceny by Fraud

• Question 5:

  ___________ allows the fraud examiner to inspect key attributes on a smaller portion (or sample) of those documents.

  A. Statistical sampling
  A. Statistical sampling

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  Explanation/Reference:

• Question 6:

  Which of the following is NOT the type of billing scheme?

  A. Invoicing via shell companies
  B. Invoicing via non-accomplice companies
  C. Invoicing via accomplice companies
  D. Personal purchases with company funds
  C. Invoicing via accomplice companies

• Question 7:

  In physical tampering prevention technique, hidden images can be seen only when the check is held at an angle through:

  A. High-resolution sprays
  B. Holographic safety inks
  C. Watermark backers
  D. Chrome coloring
  C. Watermark backers

• Question 8:

  Persuasive evidence of an arrangement does not exist when:

  A. Revenue and corresponding expenses doesn't match each other.
  B. No written or verbal agreement exists.
  C. Timings not meet properly
  D. Capitalized expenses and Liabilities will not be up to satisfied level
  B. No written or verbal agreement exists.

• Question 9:

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

  A. Official act
  A. Official act

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  Explanation/Reference:

• Question 10:

  Theft of incoming checks usually occurs when__________is (are) in charge of opening the mail and recording the receipt of payments.

  A. Single employee
  B. Two employees
  C. More then two employees
  D. None of the above
  A. Single employee

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  Explanation/Reference: