ACFE CFE Financial Transactions and Fraud Schemes Certified Fraud Examiner – Financial Transactions and Fraud Schemes Exam Online Training
ACFE CFE Financial Transactions and Fraud Schemes Online Training
The questions for CFE Financial Transactions and Fraud Schemes were last updated at Apr 17,2024.
- Exam Code: CFE Financial Transactions and Fraud Schemes
- Exam Name: Certified Fraud Examiner - Financial Transactions and Fraud Schemes Exam
- Certification Provider: ACFE
- Latest update: Apr 17,2024
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 . True
- B . False
Another way to eliminate competition in the solicitation phase of the selection process is to:
- A . Solicit bid from fictitious suppliers
- B . Solicit transaction from fictitious vendors
- C . Solicit bid-splitting from fictitious vendors
- D . None of the above
_________ assumes the business will go on indefinitely in the future.
- A . Materiality
- B . Going concern
- C . Cost
- D . Fair value
According to SAB 104, for the revenue to be typically considered realized or realizable and earned, which of the following criteria is NOT met:
- A . Persuasive evidence of an arrangement exists
- B . Services has been rendered
- C . Timings have been met
- D . Collectability is reasonably assured
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 . Sealed bids
- C . General purchasing
- D . Tailor specifications
A typical issue involving material and fraud would be:
- A . Fraudulent statement
- B . Misappropriations
- C . Civil lawsuit
- D . Quality control
A technique by which checks are numbered using a new technique that is revealed by a colored highlighter pen or by a bright light held behind the check is called:
- A . Microline numbering
- B . Holographic safety border
- C . Embossed pearlescent numbering
- D . None of the above
___________ is to allow the owner, investors, creditors and others with an interest to know
the appropriate book worth of the business at a particular date.
- A . Equity
- B . Balance sheet
- C . Income statement
- D . Financial record
Which of the following search is used for unusually high incidence of returns and allowances scheme?
- A . Allowances by vendors
- B . Disposals of allowances than reorders
- C . Returns and allowances
- D . None of the above
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 . Employee theft
- B . Recorded sales
- C . Internal audits
- D . Occupational frauds
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