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

If the assets are intentionally purchased by the company but simply misappropriated by the fraudster, this is referring to as:

A. Inventory larceny scheme

B. Asset receiving scheme

C. Fraudulent purchase

D. Falsify shipping

Correct Answer:A

________ is required if and when officers, executives or other persons in trusted positions become subjects of a criminal indictment.

A. Conflict of interest

B. Turnaround sale or flip

C. Disclosure

D. Resource diversion

Correct Answer:C

Persuasive evidence of an arrangement does not exist when:

A. Revenue and corresponding expenses doesn??t match each other.

B. No written or verbal agreement exists.

C. Timings not meet properly

D. Capitalized expenses and Liabilities will not be up to satisfied level

Correct Answer:B

The most common method for billing scheme is:

A. Register

B. Tips

C. Accident

D. None of the above

Correct Answer:B

Which of the following offender types in which people who take the money and run away?

A. Absconders

B. Long-term violators

C. Offender types

D. None of the above

Correct Answer:A

_______ is a process by which a bookkeeper records all transactions and can adjust the books.

A. Journal Entries

B. Accounting Cycle

C. Financial statement

D. None of all

Correct Answer:A

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