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

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

• Question 111:

  The prime targets for skimming schemes which are hard to monitor and predict such as late fees and parking fees, are:

  A. Revenue sources
  B. Recorded sales
  C. Internal audits
  D. Register manipulations
  A. Revenue sources

• Question 112:

  Multiple cashiers operate from a single cash drawer without separate access codes is a red flag for:

  A. Fraudulent scheme
  B. Disbursement scheme
  C. Register scheme
  D. Force inventory scheme
  C. Register scheme

• Question 113:

  Depreciation is especially applicable when companies try to overvalue their assets and net worth; the lower their depreciation expense, the higher the company's profits.

  A. True
  B. False
  A. True

• Question 114:

  Larceny by Fraud or deception means that:

  A. Creates or reinforce a false impression
  B. Fails to correct a false impression
  C. Fails to disclose a known lien, adverse claim or other legal impediment
  D. All of the above
  D. All of the above

• Question 115:

  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 116:

  When employee committing the fraud removes cash from the register and also the item allegedly being returned is debited back into the inventory, this refers to:

  A. Registry destroying records
  B. Register false voids
  C. Fraudulent register occurrences
  D. Concealing register disbursement
  D. Concealing register disbursement

• Question 117:

  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 118:

  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 119:

  Most of the shell company schemes involve the purchase of goods rather than services.

  A. True
  B. False
  B. False

• Question 120:

  Assets that are long-lived and that differ from property, plant and equipment hat has been purchased outright or acquired under a capital lease are:

  A. Tangible Assets
  B. Intangible Assets
  C. Forced Assets
  D. None of above
  B. Intangible Assets