[Nov 10, 2021] Get New CFE-Financial-Transactions-and-Fraud-Schemes Certification Practice Test Questions Exam Dumps
Real CFE-Financial-Transactions-and-Fraud-Schemes Exam Dumps Questions Valid CFE-Financial-Transactions-and-Fraud-Schemes Dumps PDF
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NEW QUESTION 76
Which of the following is not the skimming scheme?
- A. Theft of checks through the mail
- B. Unrecorded sales
- C. Understand sales and receivables
- D. Fraud & Cost
Answer: D
NEW QUESTION 77
A scheme is classified as a Conflict of interest:
- A. when an employee must have some kind of ownership or employment interest in the vendor submitting the invoice.
- B. when a salesman must have some kind of ownership or employment interest in the vendor submitting the sales.
- C. when a purchaser must have some kind of ownership or employment interest in the vendor submitting the purchase.
- D. when a dealer must have some kind of dealership interest in the vendor submitting the stock.
Answer: A
NEW QUESTION 78
Larceny by Fraud or deception means that:
- A. Creates or reinforce a false impression
- B. All of the above
- C. Fails to correct a false impression
- D. Fails to disclose a known lien, adverse claim or other legal impediment
Answer: B
NEW QUESTION 79
In Cressey's fraud triangle, its three of the legs are Opportunity, Pressure and
- A. Isolation
- B. None of the above
- C. Rationalization
- D. Violation
Answer: C
NEW QUESTION 80
A running count that records how much inventory should be on hand is referred to:
- A. Perpetual inventory
- B. Fictitious inventory
- C. Altered inventory
- D. Shrinking inventory
Answer: A
NEW QUESTION 81
__________ can be defined as conduct detrimental to the organization and to the employee.
- A. Employee deviance
- B. All of the above
- C. Employee fraud
- D. Employee theft
Answer: A
NEW QUESTION 82
Most of the shell company schemes involve the purchase of goods rather than services.
- A. True
- B. False
Answer: B
NEW QUESTION 83
Which of the following search is used for unusually high incidence of returns and allowances scheme?
- A. Disposals of allowances than reorders
- B. None of the above
- C. Allowances by vendors
- D. Returns and allowances
Answer: D
NEW QUESTION 84
Organizations that had external audits actually had higher median losses and longer lasting fraud schemes than those organizations that were not audited.
- A. True
- B. False
Answer: A
NEW QUESTION 85
One final means of concealing a register scheme, as with many kinds of fraud, is to destroy all records of the transaction.
- A. True
- B. False
Answer: A
NEW QUESTION 86
Which of the following are not of Basic types of non-sharable problems?
- A. Business reversals
- B. Larceny by Fraud
- C. Violation of ascribed obligations
- D. Physical Isolation
Answer: B
NEW QUESTION 87
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 88
Entering a sales total lower than the amount actually paid by the customer is called:
- A. All of the above
- B. Underrings a sale
- C. Internal sales audits
- D. Recording a sale procedure
Answer: B
NEW QUESTION 89
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 90
Which of the following is true for Red flags associated with fictitious revenues?
- A. Usual growth in the number of days purchase in receivables
- B. A significant volume of sales to entries whose substance and ownership is not known.
- C. Slow growth or usual profitability, when not compared to other companies in the same industry.
- D. A usual surge in purchase by a majority of units within a company, or of purchase recorded by corporate headquarters.
Answer: B
NEW QUESTION 91
According to fraud tree, cash has three following schemes:
- A. Cash distribution, skimming and fraud analysis
- B. Fraud analysis, skimming and cash misappropriations
- C. Skimming, cash larceny and fraudulent disbursements
- D. Cash larceny, cash distribution and fraudulent disbursements
Answer: C
NEW QUESTION 92
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. True
- B. False
Answer: B
NEW QUESTION 93
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 94
Which of the following is NOT the example of bribery prevention policies?
- A. Reporting gifts
- B. Business meetings
- C. Discounts
- D. Resource diversions
Answer: D
NEW QUESTION 95
The amount of cash on hand in a register may be compared to the amount showing in the register tape in order to detect _______.
- A. Internal audits
- B. Occupational frauds
- C. Recorded sales
- D. Employee theft
Answer: D
NEW QUESTION 96
In which phase of competitive bidding process, fraudsters attempt to influence the selection of a contractor by restricting the pool of competitors from whom bids are sought?
- A. Solicitation
- B. Need recognition
- C. Submission
- D. False specification
Answer: A
NEW QUESTION 97
A tangible asset is one which is:
- A. capable of being perceived
- B. capable of being appraised
- C. Neither A nor B
- D. Both A & B
Answer: D
NEW QUESTION 98
____________ 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 99
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 100
Which are check tempering frauds in which an employee prepares a fraudulent check and submits it usually along with legitimate checks to an authorized maker who signs it without a proper review?
- A. Legitimate check scheme
- B. Concealed check scheme
- C. Endorse check scheme
- D. Payable check scheme
Answer: B
NEW QUESTION 101
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