ACFE CFE Fraud Prevention and Deterrence Certified Fraud Examiner – Fraud Prevention and Deterrence Exam Online Training
ACFE CFE Fraud Prevention and Deterrence Online Training
The questions for CFE Fraud Prevention and Deterrence were last updated at Nov 23,2024.
- Exam Code: CFE Fraud Prevention and Deterrence
- Exam Name: Certified Fraud Examiner - Fraud Prevention and Deterrence Exam
- Certification Provider: ACFE
- Latest update: Nov 23,2024
In the context of a fraud examination, integrity requires all of the following EXCEPT:
- A . Trustworthiness
- B . A well-developed sense of moral philosophy
- C . Avoidance of conflicts of interest
- D . Refusal to admit errors
Which of the following is TRUE regarding prosecutions of white-collar criminals?
- A . Only a small percentage of perpetrators are punished when an organization deals with a fraud case internally.
- B . Most fraud cases are only handled internally and are not referred to law enforcement for prosecution
- C . The primary reason organizations decline to prosecute fraud cases is a belief that their internal discipline methods are sufficient
- D . When fraud cases are handled internally, an employee is more likely to be suspended or put on probation than to be terminated for their crime.
Employees should be kept unaware that management is watching for lifestyle and behavior changes In staff members that might indicate fraud.
- A . True
- B . False
The objective of anti-fraud controls is to:
- A . Completely eliminate inherent fraud risk.
- B . Reduce the inherent fraud risk to a level that is significantly smaller than the residual fraud risk.
- C . Completely eliminate residual fraud risk
- D . Reduce the residual fraud risk to a level that is significantly smaller than the inherent fraud risk
International Standard on Auditing (ISA) 240 establishes auditors as being primarily responsible for the establishment of anti-fraud internal controls within an organization.
- A . True
- B . False
An effective system of anti-fraud controls
- A . Fully eliminates the risk of fraud
- B . Focuses more on detective controls than preventive controls
- C . Focuses more on preventive controls than detective controls
- D . Increases the perception that fraud will be detected
Benjamin, a Certified Fraud Examiner (CFE). was contacted regarding an engagement to investigate a complex money laundering case spanning numerous international jurisdictions and involving multiple cutting-edge technologies. Benjamin had previously attended a seminar on investigating money laundering schemes, but he had no other training or experience in such cases. However, he accepted the engagement and chose to conduct the work himself. Benjamin’s conduct would likely be a violation of the ACFE Code of Professional Ethics.
- A . True
- B . False
Smith, a retail sales manager, wants to decrease the level of cash register over-and-short discrepancies among his sales team.
According to behaviorist theories, which of the following options would be the MOST EFFECTIVE way for Smith to encourage his team members to keep their cash drawers in balance?
- A . Offer a bonus to anyone whose drawer reconciles perfectly for sixty days.
- B . Publicly call out and criticize employees whose cash drawers are over or short.
- C . Take away an hour of paid time off for each time the drawer is over or short
- D . Demote employees who continue to have reconciliation discrepancies
In response to a risk identified during a fraud risk assessment, management decides to implement additional internal control measures.
This response is known as:
- A . Assuming the risk
- B . Mitigating the risk
- C . Avoiding the risk
- D . Transferring the risk
In identifying the inherent fraud risks that could apply to the organization, the fraud risk assessment team should discuss:
- A . The organization’s incentive programs
- B . The possibility of management’s override of controls
- C . Risks to the organization’s reputation
- D . All of the above
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