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

• Question 81:

  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

  Correct Answer: C

• Question 82:

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

  A. True

  B. False

  Correct Answer: B

• Question 83:

  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

  Correct Answer: A

• Question 84:

  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

  Correct Answer: A

• Question 85:

  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 86:

  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

  Correct Answer: C

• Question 87:

  Which of the following can constitute a bribe, even if the illicit payment is never actually made?

  A. Offering a payment

  B. Corruption in payment

  C. kickback payment

  D. Overbilling in payment

  Correct Answer: A

• Question 88:

  Which of the following is NOT the example of bribery prevention policies?

  A. Reporting gifts

  B. Discounts

  C. Business meetings

  D. Resource diversions

  Correct Answer: D

• Question 89:

  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

  Correct Answer: C

• Question 90:

  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

  Correct Answer: D