CFE-Financial-Transactions-and-Fraud-Schemes ACFE Exam Questions and Free Practice Test

The principal way to detect omitted credits from books of account is through:

A. Forced Balance

B. Trend analysis

C. Expense account

D. None of all

Correct Answer:B

Maintain the presence of a manager or supervisor near the area of the cash register as a deterrent to theft is a prevention for:

A. Fraudulent statement scheme

B. Asset misappropriation scheme

C. Larceny scheme

D. Register disbursement scheme

Correct Answer:D

Forced reconciliation of the account says:

A. to conceal shrinkage is to alter inventory record so that it matches the physical inventory count.

B. to conceal inventory is to alter shrinkage record so that it matches the physical inventory count.

C. to conceal shrinkage is to change the perpetual inventory record so that it matches the physical inventory count.

D. to conceal write-offs is to change the perpetual inventory record so that it matches the physical inventory count.

Correct Answer:C

The behavior profile of employees who are involved in bribery schemes may include:

A. Gambling habit

B. Extravagant lifestyle

C. Drug and/or alcohol addiction

D. All of the above

Correct Answer:D

The scheme which reduces victim companies to issue fraudulent payments for goods or services that they have not received is called:

A. Bogus claims

B. Billing scheme

C. Reliance billing

D. Misappropriate claims

Correct Answer:A

_______ involves purposeful misreporting of financial information about the organization that is intended to mislead those who read it.

A. Fraudulent statement

B. Corruption

C. Asset misappropriations

D. None of above

Correct Answer:A

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