ACFE CFE Financial Transactions and Fraud Schemes Certified Fraud Examiner – Financial Transactions and Fraud Schemes Exam Online Training
ACFE CFE Financial Transactions and Fraud Schemes Online Training
The questions for CFE Financial Transactions and Fraud Schemes were last updated at Nov 23,2024.
- Exam Code: CFE Financial Transactions and Fraud Schemes
- Exam Name: Certified Fraud Examiner - Financial Transactions and Fraud Schemes Exam
- Certification Provider: ACFE
- Latest update: Nov 23,2024
The most common method for billing scheme is:
- A . Register
- B . Tips
- C . Accident
- D . None of the above
Which check tampering red flag may indicate employees have embezzled cash and charged the embezzlement to expense accounts?
- A . Voided checks
- B . Payable checks
- C . Missing checks
- D . Duplicate checks
_________ revenues involve the recording sales of goods or services hat did not occur.
- A . Fictitious or fabricated revenues
- B . Financial revenues
- C . Red flag revenues
- D . Concealed revenues
In which phase of competitive bidding process, fraudsters attempt to influence the selection of a contractor by restricting the pool of competitors from whom bids are sought?
- A . Need recognition
- B . Solicitation
- C . False specification
- D . Submission
When an incorrect total is carried from the journal to the ledger or from ledger to the financial statements, this method is called:
- A . Forced Balance
- B . Out-of-balance
- C . False balance
- D . None of all
The excess credits (or debits) on the income statement are used to decrease (or increase) the equity account.
- A . True
- B . False
__________ may be defined as the offering, giving, receiving or soliciting anything of value
to influence an official act.
- A . Corruption
- B . Diverting business to vendors
- C . Bribery
- D . Lacking approval authority
The forms that allow noncash assets to be moved from one location in a company to another can be used to facilitate the misappropriation of those assets are called:
- A . Inventory usages
- B . Fake sales
- C . Asset requisition
- D . All of the above
Which of the following are used in a short term skimming scheme?
- A . Unrecorded sales, understated sales and theft of incoming checks
- B . Unrecorded sales, understated sales and dual endorsements
- C . False company accounts, understated sales and theft of incoming checks
- D . Understated sales, theft of incoming checks and check-for-currency substitutions
A special scheme in which employees know their employer is seeking to purchase a certain asset and take advantage of the situation by purchasing the asset themselves is:
- A . Conflict of interest in sale
- B . Turnaround sale or flip
- C . Unauthorized sale
- D . Written sale of unique assets
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