CFE-Financial-Transactions-and-Fraud-Schemes Free Exam Questions and Answers PDF Updated on Feb-2023
Latest CFE-Financial-Transactions-and-Fraud-Schemes Exam Dumps Recently Updated 100 Questions
ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam Syllabus Topics:
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
| Topic 5 |
|
| Topic 6 |
|
| Topic 7 |
|
| Topic 8 |
|
| Topic 9 |
|
| Topic 10 |
|
NEW QUESTION 41
Which of the following is NOT one of the information security goals that should be achieved to secure an e- commerce system for uses and account holders?
- A. Integrity of data
- B. Availability of data
- C. Materiality of data
- D. Confidentiality of data
Answer: C
Explanation:
Explanation/Reference: https://whatis.techtarget.com/definition/Confidentiality-integrity-and-availability-CIA
NEW QUESTION 42
Inventory shrinkage is the unaccounted-for reduction in the company's inventory that does not results from theft.
- A. True
- B. False
Answer: B
NEW QUESTION 43
Persuasive evidence of an arrangement does not exist when:
- A. No written or verbal agreement exists.
- B. Revenue and corresponding expenses doesn't match each other.
- C. Capitalized expenses and Liabilities will not be up to satisfied level
- D. Timings not meet properly
Answer: A
NEW QUESTION 44
All of the following methods are useful in the detection of cash larceny schemes EXCEPT:
- A. Analyzing journal entries made to cash accounts
- B. Performing surprise cash counts
- C. Reconciling cash register totals to the amount of cash in the drawer
- D. Having the accounts receivable clerk prepare the bank deposit
Answer: A
Explanation:
Explanation/Reference: https://www.acfe.com/uploadedFiles/Shared_Content/Products/Self-Study_CPE/intro-to-fraud-exam-2011-extract.pdf
NEW QUESTION 45
Theft of incoming checks usually occurs when ________ is (are) in charge of opening the mail and recording the receipt of payments.
- A. None of the above
- B. Single employee
- C. More then two employees
- D. Two employees
Answer: B
NEW QUESTION 46
Which of the following situations MOST LIKELY constitutes health care fraud committed by an insurance company?
- A. Instituting procedures to detect fraudulent claims when acting as an intermediary for a government health care program
- B. Negotiating discounts with medical providers and then failing to apply those discounts toward consumers' medical bills
- C. Submitting cost data to health care regulators to justify rate increases
- D. Failing to pay a claim because the claim is missing required information
Answer: B
NEW QUESTION 47
Which of the following statements is TRUE with regard to the income statement?
- A. Net profit is the difference between total sales and the cost of goods sold.
- B. Gross profit is equal to revenues less operating expenses.
- C. A company's cash balance is usually the first line item listed.
- D. Gross revenue is the total amount of sales before deductions are applied.
Answer: A
Explanation:
Explanation/Reference: https://www.zoho.com/books/guides/what-is-an-income-statement.html#:~:text=The%20income%20statement%20shows%20a,on%20a%20good%20financial%20footing
NEW QUESTION 48
______________ is required not only for theft, but for procedures to detect errors, avoid waste and insure a proper amount of inventory is maintained.
Answer:
Explanation:
Inventory control
NEW QUESTION 49
Asset misappropriation schemes were the "middle children" of the study; they were more common than fraudulent statements and more costly than corruption.
- A. True
- B. False
Answer: B
NEW QUESTION 50
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 inventory control
- B. Proper documentation, physical padding, independent checks and physical safeguards
- C. prenumbered affiliations, segregation of duties, independent checks and physical safeguards
- D. Proper documentation, segregation of duties, independent checks and physical safeguards
Answer: D
NEW QUESTION 51
Accounting records are designed to be kept on subjective rather than objective evidence.
- A. True
- B. False
Answer: B
NEW QUESTION 52
____________ is a process by which a bookkeeper records all transactions and can adjust the books.
- A. Financial statement
- B. None of all
- C. Journal Entries
- D. Accounting Cycle
Answer: C
NEW QUESTION 53
Bid-rigging scheme occurs when:
- A. an employee fraudulently assists a vendor in winning a contract through the competitive bidding process.
- B. an employee does not assist a vendor in winning a contract through the competitive bidding process.
- C. an employee once assists a vendor in winning a contract through a single competitive bidding process.
- D. an employee once assists a vendor in winning a contract through a single competitive bidding process.
Answer: A
NEW QUESTION 54
In ____________ scheme, a supplier pays an employee of the purchasing company to write specifications that will require amendments at a later date.
- A. Deliberate writing of vague specifications
- B. Need recognition
- C. False specification
- D. Bid-splitting
Answer: A
NEW QUESTION 55
__________ inventory and other assets is relatively common way for fraudsters to remove assets from the books before or after they are stolen.
- A. Altered
- B. Write-offs
- C. Perpetual
- D. False shipping slip
Answer: D
NEW QUESTION 56
_________ assumes the business will go on indefinitely in the future.
- A. Going concern
- B. Cost
- C. Materiality
- D. Fair value
Answer: A
NEW QUESTION 57
The scheme in which the same vendor is receiving favorable treatment van be found in purchases by vendor searches.
- A. False
- B. True
Answer: B
NEW QUESTION 58
......
ACFE CFE-Financial-Transactions-and-Fraud-Schemes Real 2023 Braindumps Mock Exam Dumps: https://www.braindumpsvce.com/CFE-Financial-Transactions-and-Fraud-Schemes_exam-dumps-torrent.html
CFE-Financial-Transactions-and-Fraud-Schemes Exam Questions | Real CFE-Financial-Transactions-and-Fraud-Schemes Practice Dumps: https://drive.google.com/open?id=1wjAVrtwq7vtGTvr5P7CylSwd-DGbV89H