ACFE Certified Fraud Examiner - Financial Transactions and Fraud Schemes - CFE-Financial-Transactions-and-Fraud-Schemes Exam Questions
QUESTION NO: 1
Perceived certainty of detection is directly related to employee theft for respondents in all industry sectors, that is, the stronger the perception that theft would be detected, the more the likelihood that the employee would engage in deviant behavior.
Perceived certainty of detection is directly related to employee theft for respondents in all industry sectors, that is, the stronger the perception that theft would be detected, the more the likelihood that the employee would engage in deviant behavior.
Correct Answer: B
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QUESTION NO: 2
Otto, a bank manager, purchases a new boat that he cannot afford. Knowing that one of the bank customers is an older client who does not regularly check their account, Otto takes money from the customer's account to make his boat payments. To conceal the missing amount, Otto adjusts the bank's general ledger. Which of the following BEST describes Otto's scheme?
Otto, a bank manager, purchases a new boat that he cannot afford. Knowing that one of the bank customers is an older client who does not regularly check their account, Otto takes money from the customer's account to make his boat payments. To conceal the missing amount, Otto adjusts the bank's general ledger. Which of the following BEST describes Otto's scheme?
Correct Answer: C
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QUESTION NO: 3
A fraudster uses a victim's name, government identification number, and birthdate to impersonate the victim and open a credit card account in the victim's name. This scheme can BEST be described as:
A fraudster uses a victim's name, government identification number, and birthdate to impersonate the victim and open a credit card account in the victim's name. This scheme can BEST be described as:
Correct Answer: C
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QUESTION NO: 4
Which of the following is the amount of money that would be realized upon the sale of the asset at some point in the future, less the costs associated with owning, operating, and selling it?
Which of the following is the amount of money that would be realized upon the sale of the asset at some point in the future, less the costs associated with owning, operating, and selling it?
Correct Answer: C
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QUESTION NO: 5
Financial statement fraud is BEST described as the intentional or accidental misstatement of amounts in the financial statements.
Financial statement fraud is BEST described as the intentional or accidental misstatement of amounts in the financial statements.
Correct Answer: B
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QUESTION NO: 6
Which of the following statements is TRUE regarding income statements?
Which of the following statements is TRUE regarding income statements?
Correct Answer: D
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QUESTION NO: 7
Which of the following ratios can be used to determine the efficiency with which a company uses its assets?
Which of the following ratios can be used to determine the efficiency with which a company uses its assets?
Correct Answer: A
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QUESTION NO: 8
When an employee processes a fictitious refund of goods, the amount of cash in the register does not balance with the register log.
When an employee processes a fictitious refund of goods, the amount of cash in the register does not balance with the register log.
Correct Answer: B
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QUESTION NO: 9
Which of the following search is used for unusually high incidence of returns and allowances scheme?
Which of the following search is used for unusually high incidence of returns and allowances scheme?
Correct Answer: C
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QUESTION NO: 10
According to Hollinger and Clark, for policy development, management must pay attention to:
According to Hollinger and Clark, for policy development, management must pay attention to:
Correct Answer: C
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QUESTION NO: 11
Which of the following is NOT one of the information security goals that should be achieved to secure an e- commerce system for users and account holders?
Which of the following is NOT one of the information security goals that should be achieved to secure an e- commerce system for users and account holders?
Correct Answer: C
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QUESTION NO: 12
Theft of incoming checks usually occurs when ________ is (are) in charge of opening the mail and recording the receipt of payments.
Theft of incoming checks usually occurs when ________ is (are) in charge of opening the mail and recording the receipt of payments.
Correct Answer: A
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QUESTION NO: 13
Which of the following is a condition that facilitates insider cyberfraud?
Which of the following is a condition that facilitates insider cyberfraud?
Correct Answer: A
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QUESTION NO: 14
Which of the following statements regarding new account fraud is MOST ACCURATE?
Which of the following statements regarding new account fraud is MOST ACCURATE?
Correct Answer: D
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QUESTION NO: 15
Georgina works for TAK Intelligence, a competitive intelligence firm. She is tasked with gathering intelligence about ERO Corp., a competitor of one of TAK's clients. To gather the intelligence, Georgina poses as a customer and contacts ERO. She then elicits sensitive information from an ERO employee.
Georgina's approach is an example of:
Georgina works for TAK Intelligence, a competitive intelligence firm. She is tasked with gathering intelligence about ERO Corp., a competitor of one of TAK's clients. To gather the intelligence, Georgina poses as a customer and contacts ERO. She then elicits sensitive information from an ERO employee.
Georgina's approach is an example of:
Correct Answer: D
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