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

• Question 131:

  __________ 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

  Correct Answer: A

• Question 132:

  The most common method for billing scheme is:

  A. Register

  B. Tips

  C. Accident

  D. None of the above

  Correct Answer: B

• Question 133:

  Which check tampering red flag may indicate employees have embezzled cash and charged the embezzlement to expense accounts?

  A. Voided checks

  B. Payable checks

  C. Missing checks

  D. Duplicate checks

  Correct Answer: C

• Question 134:

  _________ revenues involve the recording sales of goods or services hat did not occur.

  A. Fictitious or fabricated revenues

  B. Financial revenues

  C. Red flag revenues

  D. Concealed revenues

  Correct Answer: A

• Question 135:

  In which phase of competitive bidding process, fraudsters attempt to influence the selection of a contractor by restricting the pool of competitors from whom bids are sought?

  A. Need recognition

  B. Solicitation

  C. False specification

  D. Submission

  Correct Answer: B

• Question 136:

  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

  Correct Answer: C

• Question 137:

  Physical assets including _________ and ________ are the most commonly misappropriated noncash asset in our study.

  A. Interest and Collusion

  B. Inventory and Equipment

  C. Inventory and Purchase

  D. Sales and Equipment

  Correct Answer: B

• Question 138:

  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

  Correct Answer: C

• Question 139:

  Which check tampering red flag may indicate employees have embezzled cash and charged the embezzlement to expense accounts?

  A. Voided checks

  B. Payable checks

  C. Missing checks

  D. Duplicate checks

  Correct Answer: C

• Question 140:

  The principal way to detect omitted credits from books of account is through:

  A. Forced Balance

  B. Trend analysis

  C. Expense account

  D. None of all

  Correct Answer: B