2022 ITexamReview ACFE CFE-Financial-Transactions-and-Fraud-Schemes Dumps and Exam Test Engine
ACFE CFE-Financial-Transactions-and-Fraud-Schemes DUMPS WITH REAL EXAM QUESTIONS
ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam Syllabus Topics:
| Topic | Details |
|---|---|
| Topic 1 |
|
| Topic 2 |
|
| Topic 3 |
|
| Topic 4 |
|
| Topic 5 |
|
| Topic 6 |
|
| Topic 7 |
|
| Topic 8 |
|
| Topic 9 |
|
| Topic 10 |
|
| Topic 11 |
|
NEW QUESTION 34
One of the simplest ways to justify unacceptable conduct and avoid guilt feelings is to invent a good reason for ________.
Answer:
Explanation:
Embezzling
NEW QUESTION 35
Which of the following is NOT the reason to bribe employees of the purchaser?
- A. To falsify the bid log
- B. To ensure bid-splitting
- C. To ensure receipt of a late bid
- D. To extend the bid opening date
Answer: B
NEW QUESTION 36
In which of the following process, all bidders are legally supposed to be placed on the same plane of equality, bidding on the same terms and conditions?
- A. Kickbacks
- B. Competitive bidding
- C. Bid solicitation
- D. Bid-rigging
Answer: B
NEW QUESTION 37
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
NEW QUESTION 38
When employees avoid detection in a refund scheme to keep the sizes of the disbursement low, is referred to:
- A. Small disbursements
- B. Very small disbursements
- C. None of the above
- D. Simple disbursements
Answer: A
NEW QUESTION 39
Delivery has not occurred or services have not been rendered when:
- A. Both A & B
- B. A written order exists but contains a right of return.
- C. Neither A nor B
- D. Until installation and customer testing and acceptance has occurred.
Answer: B
NEW QUESTION 40
The person or persons who have access to __________ are often the targets of unethical vendors seeking an advantage in the process.
- A. Bid-splitting
- B. Tailor specifications
- C. Sealed bids
- D. General purchasing
Answer: C
NEW QUESTION 41
Inventory shrinkage is the unaccounted-for reduction in the company's inventory that does not results from theft.
- A. True
- B. False
Answer: B
NEW QUESTION 42
When employee committing the fraud removes cash from the register and also the item allegedly being returned is debited back into the inventory, this refers to:
- A. Register false voids
- B. Registry destroying records
- C. Concealing register disbursement
- D. Fraudulent register occurrences
Answer: C
NEW QUESTION 43
Which of the following is the amount of money that would be realized upon the sale of the asset at some point in the future, less the costs associated with owing, operating and selling it?
- A. Cost
- B. Going concern
- C. Net realizable value
- D. Fair value
Answer: C
NEW QUESTION 44
The most common method for billing scheme is:
- A. None of the above
- B. Register
- C. Accident
- D. Tips
Answer: D
NEW QUESTION 45
Every bribe is a two-sided transaction, in which where a vendor bribes a purchaser, there is someone on the vendor's side of the transaction who is not making an illicit payment.
- A. True
- B. False
Answer: B
NEW QUESTION 46
___________ and __________ are used to increase (or decrease) the equity account.
- A. None of all
- B. Journal Entries & Debit
- C. Journal Entries & transactions
- D. Journal Entries & Credit
Answer: C
NEW QUESTION 47
Revenue is recognized when it is:
- A. All of the above
- B. Realized and Earned
- C. Realized and Evidenced
- D. Fictitious and Earned
Answer: B
NEW QUESTION 48
Skimming cases can more likely to be detected by:
- A. occupational frauds
- B. Internal audits
- C. Internal controls
- D. Accidents
Answer: D
NEW QUESTION 49
Employees with the authority to grant discounts in order to skim revenues may use which authority?
- A. None of the above
- B. Internal discount sales audits
- C. False discounts
- D. Recording a discount on sale procedure
Answer: C
NEW QUESTION 50
Which of the following is NOT the aspect of inventory purchase?
- A. might be some fraud scheme in inventory.
- B. Inventory purchases purposely increase in year 1 only to be liquidated in year 2.
- C. Increase sales in year 2 are unexpected and purchase of inventory does not keep pace with the sales.
- D. inventory for the year 2 will be much greater than year 1.
Answer: D
NEW QUESTION 51
_____________ involves purposeful misreporting of financial information about the organization that is intended to mislead those who read it.
- A. Asset misappropriations
- B. Fraudulent statement
- C. Corruption
- D. None of above
Answer: B
NEW QUESTION 52
Which of the following can constitute a bribe, even if the illicit payment is never actually made?
- A. kickback payment
- B. Overbilling in payment
- C. Corruption in payment
- D. Offering a payment
Answer: D
NEW QUESTION 53
____________ corrupt employees can cause inventory to be fraudulently delivered to themselves or accomplices.
- A. False credit slip
- B. False shipping slip
- C. Fraudulent inventory slip
- D. False packing slip
Answer: D
NEW QUESTION 54
Which of the following are used in a short term skimming scheme?
- A. Unrecorded sales, understated sales and dual endorsements
- B. Understated sales, theft of incoming checks and check-for-currency substitutions
- C. False company accounts, understated sales and theft of incoming checks
- D. Unrecorded sales, understated sales and theft of incoming checks
Answer: D
NEW QUESTION 55
The more power a person has over the bidding process, the more likely the person can influence the selection of a supplier.
- A. True
- B. False
Answer: A
NEW QUESTION 56
A ____________ can be very costly for an organization to undertake, both in terms of money and time spent.
Answer:
Explanation:
Civil lawsuit
NEW QUESTION 57
Which check tampering red flag may indicate employees have embezzled cash and charged the embezzlement to expense accounts?
- A. Payable checks
- B. Missing checks
- C. Duplicate checks
- D. Voided checks
Answer: B
NEW QUESTION 58
Bank cut-off statements should be requested for 10-15 days after the closing date of the balance sheet.
- A. True
- B. False
Answer: A
NEW QUESTION 59
......
2022 New ITexamReview CFE-Financial-Transactions-and-Fraud-Schemes PDF Recently Updated Questions: https://www.itexamreview.com/CFE-Financial-Transactions-and-Fraud-Schemes-exam-dumps.html
CFE-Financial-Transactions-and-Fraud-Schemes Exam with Guarantee Updated 160 Questions: https://drive.google.com/open?id=1RUMRQqdSBxWEzmPX4MiHO7OzTNJsSTA6
