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NEW QUESTION 56
The act of an official or fiduciary person who unlawfully and wrongfully uses his station or character to procure some benefit, contrary to duty and rights of others is called:
- A. Conflict of interest
- B. Corruption
- C. Overbilling
- D. Bribery
Answer: B
NEW QUESTION 57
Which of the following search is used for unusually high incidence of returns and allowances scheme?
- A. Allowances by vendors
- B. Returns and allowances
- C. Disposals of allowances than reorders
- D. None of the above
Answer: B
Explanation:
Section: Investigation
NEW QUESTION 58
Forced reconciliation of the account says:
- A. to conceal shrinkage is to change the perpetual 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 write-offs is to change the perpetual inventory record so that it matches the physical inventory count.
- D. to conceal shrinkage is to alter inventory record so that it matches the physical inventory count.
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 59
The fraudsters' interest lies with an employer other than a company.
- A. False
- B. True
Answer: A
NEW QUESTION 60
__________ is required if and when officers, executives or other persons in trusted positions become subjects of a criminal indictment.
- A. Resource diversion
- B. Conflict of interest
- C. Disclosure
- D. Turnaround sale or flip
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 61
__________ may be defined as the offering, giving, receiving or soliciting anything of value to influence an official act.
- A. Corruption
- B. Bribery
- C. Diverting business to vendors
- D. Lacking approval authority
Answer: B
NEW QUESTION 62
Fraudsters use the accounting system as a tool to generate the results they want in
___________ approach:
- A. beating accounting
- B. All of the above
- C. Playing the accounting
- D. Organized accounting
Answer: C
NEW QUESTION 63
Which sale occurs when the accomplice of the employee-fraudster "buys" merchandise, but the employee does not ring up the sale, and the accomplice takes the merchandise without making any payment?
- A. Fraudster sale
- B. Whole sale
- C. Preliminary sale
- D. Fake sale
Answer: D
NEW QUESTION 64
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 65
__________ can be defined as conduct detrimental to the organization and to the employee.
- A. Employee fraud
- B. All of the above
- C. Employee theft
- D. Employee deviance
Answer: D
NEW QUESTION 66
CORRECT TEXT
One of the simplest ways to justify unacceptable conduct and avoid guilt feelings is to invent a good reason for ________.
Answer:
Explanation:
Pending
NEW QUESTION 67
When situational pressures and perceived opportunities are low and personal integrity is high, occupational fraud is much more likely to occur than when the opposite is true.
- A. False
- B. True
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 68
Which of the following is NOT the reason why senior management will overstate business statement?
- A. Trigger performance related compensation
- B. Comply with debit covenants
- C. Meet personal performance criteria
- D. Show a pattern of growth to support sale of a business
Answer: B
NEW QUESTION 69
In Cressey's fraud triangle, its three of the legs are Opportunity, Pressure and
- A. Violation
- B. Rationalization
- C. Isolation
- D. None of the above
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 70
Which of the following is not the skimming scheme?
- A. Understand sales and receivables
- B. Unrecorded sales
- C. Theft of checks through the mail
- D. Fraud & Cost
Answer: D
NEW QUESTION 71
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