SOFE SOFE Certifications SOFE-CFE Questions & Answers

• Question 341:

  Payroll fraud schemes are significantly more likely to be detected by:

  A. Measurement

  B. Accident

  C. Planning

  D. Hypothesis

  Correct Answer: B

• Question 342:

  Which of the following is NOT the category of payroll fraud?

  A. Ghost employee schemes

  B. Falsified hours

  C. Invoicing noncompliance vendors' schemes

  D. Commission schemes

  Correct Answer: C

• Question 343:

  The perpetrators of which frauds produce false documents that cause the victim company to unwittingly make a fraudulent disbursement?

  A. Frequency of fraudulent disbursements

  B. Payroll and expense reimbursement schemes

  C. Inventory and Purchase reimbursement schemes

  D. Sales and Equipment reimbursement schemes

  Correct Answer: B

• Question 344:

  The major difference between fraud and billing schemes is that payroll and expense frauds involve disbursements to external parties rather than to employees.

  A. True

  B. False

  Correct Answer: B

• Question 345:

  The chief control document in many vouchers is the purchase order.

  A. True

  B. False

  Correct Answer: A

• Question 346:

  Sale orders also can be altered by employees who seek to obtain merchandise at their employer's expense.

  A. True

  B. False

  Correct Answer: B

• Question 347:

  Purchases on ______________ may require a signature or other form of authorization from a designated company representative.

  A. Company account

  B. Authorized account

  C. Merchandise for cash account

  D. Charge account

  Correct Answer: D

• Question 348:

  To analyze vendor purchases for abnormal levels on both a monthly and a yearly basis, is the billing scheme prevention method which is helpful in:

  A. review payments coding for abnormal billing

  B. deterrence of billing fraud

  C. returning merchandise for cash billing

  D. purchases on credit card or company account

  Correct Answer: B

• Question 349:

  In which scheme, the employees do not submit the vendor's invoices; rather, they intentionally mishandle payments that are owed to the legitimate vendors?

  A. pay-and-return scheme

  B. disbursement scheme

  C. pass-through scheme

  D. double-pay scheme

  Correct Answer: A

• Question 350:

  Fraudsters in what type of fraud buy an item and submit the bill to the employer as if it represented a purchase on behalf of the company?

  A. Fraudster through unauthorized invoices

  B. Loss of purchases through fraudster

  C. Personal purchases through false invoicing

  D. All of the above

  Correct Answer: C