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ACFE CFE-FINANCIAL-TRANSACTIONS-AND-FRAUD-SCHEMES Exam Questions

ACFE CFE-FINANCIAL-TRANSACTIONS-AND-FRAUD-SCHEMES Exam Questions Answers

Certified Fraud Examiner - Financial Transactions and Fraud Schemes Exam

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ACFE CFE-FINANCIAL-TRANSACTIONS-AND-FRAUD-SCHEMES Practice Test Questions ( Updated) – Real Exam Questions & Dumps PDF

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ACFE CFE-FINANCIAL-TRANSACTIONS-AND-FRAUD-SCHEMES Sample Questions – Free Practice Test & Real Exam Prep

Question #1

In which approach, fraudsters produce whatever financial statements they wish, perhapsusing just a typewriter or a personal computer.

  • A. Organized accounting 
  • B. Playing the accounting 
  • C. Beating accounting 
  • D. Outside accounting system 
Answer: D
Question #2

Which of the following is NOT standard of generally accepted accounting principles?

  • A. Conservatism 
  • B. Cost 
  • C. Full disclosure 
  • D. Quality control 
Answer: D
Question #3

Which of the following are not of Basic types of non-sharable problems?

  • A. Violation of ascribed obligations 
  • B. Business reversals 
  • C. Physical Isolation 
  • D. Larceny by Fraud 
Answer: D

Question #4

The most common method of detection in corruption cases is:

  • A. Internal audits 
  • B. Internal controls 
  • C. Tips 
  • D. By accident 
Answer: C
Question #5

Financial statement fraud is committed by:

  • A. Organized criminals 
  • B. Mid and lower level employees 
  • C. Senior Management 
  • D. All of the above 
Answer: D

Question #6

Inventory shrinkage is the unaccounted-for reduction in the company’s inventory that doesnot results from theft.

  • A. True 
  • B. False 
Answer: B

Question #7

Any expenses that are incurred but not paid by the end of the year are counted in ourrecords of profit and loss, are called:

  • A. Accruals 
  • B. Depreciations 
  • C. Expenses 
  • D. Financial record 
Answer: A

Question #8

When expenses used to produce income- all of them- should be matched in a consistentmanner against that income, this is referred to:

  • A. Equity 
  • B. Accrual basis accounting 
  • C. Expense 
  • D. Financial record
Answer: B

Question #9

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

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

Question #10

Theft of incoming checks usually occurs when ________ is (are) in charge of opening themail and recording the receipt of payments.

  • A. Single employee 
  • B. Two employees 
  • C. More then two employees 
  • D. None of the above 
Answer: A
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