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NEW QUESTION 110
The scheme which reduces victim companies to issue fraudulent payments for goods or services that they have not received is called:
- A. Reliance billing
- B. Bogus claims
- C. Misappropriate claims
- D. Billing scheme
Answer: B
NEW QUESTION 111
One reason employees might be hesitant to use PO boxes in shell company schemes is that some businesses are specially vary of sending checks to vendors that have street addresses only.
- A. False
- B. True
Answer: A
NEW QUESTION 112
According to accounting principles, ________ and ________ should be recorded or atched in the same accounting period; failing to do so violates the matching principle of AAP.
- A. Capitalized expenses and Liabilities
- B. Revenue and Income statement
- C. Income statement and Long-term contracts
- D. Revenue and corresponding expenses
Answer: D
NEW QUESTION 113
When a victim company purchases unnecessary goods or services from a supplier at the direction of the corrupt employee, this results in:
- A. False sole-source scheme
- B. Presolicitation scheme
- C. Need recognition scheme
- D. Submission scheme
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 114
In physical tampering prevention technique, hidden images can be seen only when the check is held at an angle through:
- A. Holographic safety inks
- B. Chrome coloring
- C. High-resolution sprays
- D. Watermark backers
Answer: D
NEW QUESTION 115
Bid-rigging scheme occurs when:
- A. an employee once assists a vendor in winning a contract through a single competitive bidding process.
- B. an employee fraudulently assists a vendor in winning a contract through the competitive bidding process.
- C. an employee once assists a vendor in winning a contract through a single competitive bidding process.
- D. an employee does not assist a vendor in winning a contract through the competitive bidding process.
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 116
____________ is a summary of the account balances carried in a ledger.
- A. Balance sheet
- B. General journal
- C. Financial statement
- D. Income statement
Answer: C
NEW QUESTION 117
What can make it easy for an employee to skim sales or receivables?
- A. Register manipulations and recording procedures
- B. Poor collection and recording procedures
- C. Revenue sources and recording procedures
- D. Internal audits and recording procedures
Answer: B
NEW QUESTION 118
The excess credits (or debits) on the income statement are used to decrease (or increase) the equity account.
- A. False
- B. True
Answer: A
NEW QUESTION 119
Which of the following method is NOT used to detect conflicts of interest?
- A. Tips & Complaints
- B. Review of vendor ownership files
- C. Interviews with purchasing personnel
- D. Underbillings of assets
Answer: D
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 120
__________ are the amounts which are owned to other entities:
- A. Liabilities
- B. Supplies
- C. Assets
- D. Expenses
Answer: A
NEW QUESTION 121
A running count that records how much inventory should be on hand is referred to:
- A. Altered inventory
- B. Shrinking inventory
- C. Perpetual inventory
- D. Fictitious inventory
Answer: C
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 122
What is sometimes used to overcome well-designed internal controls of a victim company?
- A. Shell company
- B. Collusion
- C. Rubber stamp supervisors
- D. Fraudulent invoices
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 123
Which of the following is the criterion for bid solicitation?
- A. To withdraw low bids
- B. Allowing the purchaser to discuss possible employment with the contractor
- C. Containing false statements
- D. To falsify the bid log
Answer: B
NEW QUESTION 124
Skimming cases can more likely to be detected by:
- A. occupational frauds
- B. Internal audits
- C. Accidents
- D. Internal controls
Answer: C
NEW QUESTION 125
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.
- A. False
- B. True
Answer: A
NEW QUESTION 126
______________ can be detected by closely examining the documentation submitted with the cash receipts.
- A. None of the above
- B. Voided purchases
- C. Approved transaction
- D. Fictitious refunds
Answer: D
NEW QUESTION 127
Which check tampering red flag may indicate employees have embezzled cash and charged the embezzlement to expense accounts?
- A. Duplicate checks
- B. Voided checks
- C. Missing checks
- D. Payable checks
Answer: C
Explanation:
Section: Investigation
NEW QUESTION 128
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