CFE Updated Exam Dumps [2022] Practice Valid Exam Dumps Question
CFE Sample with Accurate & Updated Questions
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The CFE certification is a documented proof of competence and experience, which represents a high level of skills, knowledge and professionalism. The Certified Fraud Examination (CFE) is capable in criminology in the same way that CPA is able in commerce. A graduate in criminology, forensic medicine, auditing, accounting or finance will be handicapped from a professional point of view if he has not completed a certified examination course in fraud.
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NEW QUESTION 73
The prime targets for skimming schemes which are hard to monitor and predict such as late fees and parking fees, are:
- A. Internal audits
- B. Recorded sales
- C. Revenue sources
- D. Register manipulations
Answer: C
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 74
A fabricated name and the post office box that an employee uses to collect disbursements from false billings is called:
- A. Perpetrator check
- B. Accomplice residence
- C. Shell company
- D. Cash generator
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
Explanation
NEW QUESTION 75
The fraudsters' interest lies with an employer other than a company.
- A. False
- B. True
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 76
In ____________ scheme, a supplier pays an employee of the purchasing company to write specifications that will require amendments at a later date.
- A. Bid-splitting
- B. Need recognition
- C. Deliberate writing of vague specifications
- D. False specification
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 77
____________ corrupt employees can cause inventory to be fraudulently delivered to themselves or accomplices.
- A. Fraudulent inventory slip
- B. False credit slip
- C. False shipping slip
- D. False packing slip
Answer: D
NEW QUESTION 78
__________ is required if and when officers, executives or other persons in trusted positions become subjects of a criminal indictment.
- A. Turnaround sale or flip
- B. Conflict of interest
- C. Resource diversion
- D. Disclosure
Answer: D
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 79
Which of the following can constitute a bribe, even if the illicit payment is never actually made?
- A. Corruption in payment
- B. Offering a payment
- C. Overbilling in payment
- D. kickback payment
Answer: B
NEW QUESTION 80
The scheme which reduces victim companies to issue fraudulent payments for goods or services that they have not received is called:
- A. Bogus claims
- B. Billing scheme
- C. Reliance billing
- D. Misappropriate claims
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 81
Which of the following is NOT the method for stealing inventory and other assets?
- A. Purchasing and receiving schemes
- B. Larceny schemes
- C. Asset requisition and transfer
- D. Sales & Equipment handling
Answer: D
NEW QUESTION 82
Revenue is recognized when it is:
- A. Fictitious and Earned
- B. All of the above
- C. Realized and Earned
- D. Realized and Evidenced
Answer: C
NEW QUESTION 83
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. Going concern
- B. Net realizable value
- C. Fair value
- D. Cost
Answer: B
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 84
Multiple cashiers operate from a single cash drawer without separate access codes is a red flag for:
- A. Disbursement scheme
- B. Register scheme
- C. Fraudulent scheme
- D. Force inventory scheme
Answer: B
NEW QUESTION 85
If the assets are intentionally purchased by the company but simply misappropriated by the fraudster, this is referring to as:
- A. Inventory larceny scheme
- B. Fraudulent purchase
- C. Asset receiving scheme
- D. Falsify shipping
Answer: A
NEW QUESTION 86
Which of the following is NOT the type of billing scheme?
- A. Invoicing via accomplice companies
- B. Invoicing via non-accomplice companies
- C. Personal purchases with company funds
- D. Invoicing via shell companies
Answer: A
NEW QUESTION 87
When a victim company purchases unnecessary goods or services from a supplier at the direction of the corrupt employee, this results in:
- A. Submission scheme
- B. Need recognition scheme
- C. Presolicitation scheme
- D. False sole-source scheme
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 88
In Fraud scale pressure, opportunity and integrity variables all results in a list of ___ possible red flags or indicators of occupational fraud and abuse.
- A. 0
- B. 1
- C. 2
- D. 3
Answer: A
NEW QUESTION 89
__________ inventory and other assets is relatively common way for fraudsters to remove assets from the books before or after they are stolen.
- A. Write-offs
- B. False shipping slip
- C. Perpetual
- D. Altered
Answer: B
NEW QUESTION 90
A journal in which all sales made on credit or cash are listed is:
- A. Accounts receivable journal
- B. Disbursement journal
- C. Accounts payable journal
- D. General journal
Answer: A
NEW QUESTION 91
________ decrease assets and expenses and/or increase liabilities and/or equity
- A. Credit
- B. Debit
- C. Journal Entries
- D. None of all
Answer: A
NEW QUESTION 92
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. Bribery
- B. Corruption
- C. Conflict of interest
- D. Overbilling
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 93
_____________ 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. None of above
- D. Corruption
Answer: B
NEW QUESTION 94
Which of the following are not of Basic types of non-sharable problems?
- A. Physical Isolation
- B. Business reversals
- C. Larceny by Fraud
- D. Violation of ascribed obligations
Answer: C
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 95
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