2024 Free ACFE CFE Exam Files Downloaded Instantly

Pass ACFE CFE exam Dumps 100 Pass Guarantee With Latest Demo

ACFE has strict eligibility requirements for those interested in taking the CFE exam. Applicants must have a minimum of a bachelor's degree, two years of professional experience in a related field, and must pass a background check. Once these requirements are met, applicants can register for the exam and begin preparing for the rigorous test.

 

NEW QUESTION # 81
Bank statement are diligently reviewed to ensure that amounts and signature have not been altered, is an activity for:

• A. Bank reconciliation
• B. Account analysis
• C. Check tampering
• D. Check disbursement controls

Answer: D

NEW QUESTION # 82
____________ is a summary of the account balances carried in a ledger.

• A. Financial statement
• B. Income statement
• C. General journal
• D. Balance sheet

Answer: A

NEW QUESTION # 83
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. False
• B. True

Answer: A

NEW QUESTION # 84
Which of the following offender types in which people who take the money and run away?

• A. None of the above
• B. Offender types
• C. Absconders
• D. Long-term violators

Answer: C

Explanation:
Section: Fraud Prevention and Deterrence

NEW QUESTION # 85
"Anticipate possible losses and omit potential profits", this results in:

• A. Symmetrical accounting
• B. Bearing accounting
• C. Asymmetrical accounting
• D. Playing accounting

Answer: C

NEW QUESTION # 86
In Cressey's fraud triangle, its three of the legs are Opportunity, Pressure and

• A. Rationalization
• B. None of the above
• C. Violation
• D. Isolation

Answer: A

NEW QUESTION # 87
Larceny is the scheme in which an employee simply takes inventory from the company premises without attempting to conceal it in the books and records.

• A. True
• B. False

Answer: A

NEW QUESTION # 88
SIMULATION
The _______________ cost method of pricing would carry an asset's value on the financial statements as what it would currently cost, considering inflation.

Answer:

Explanation:
Price-level adjusted historical cost

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. Altered
• C. False shipping slip
• D. Perpetual

Answer: C

NEW QUESTION # 90
Which of the following is true for Red flags associated with fictitious revenues?

• A. A significant volume of sales to entries whose substance and ownership is not known.
• B. Slow growth or usual profitability, when not compared to other companies in the same industry.
• C. A usual surge in purchase by a majority of units within a company, or of purchase recorded by corporate headquarters.
• D. Usual growth in the number of days purchase in receivables

Answer: A

NEW QUESTION # 91
Revenue is recognized when it is:

• A. Realized and Evidenced
• B. All of the above
• C. Realized and Earned
• D. Fictitious and Earned

Answer: C

NEW QUESTION # 92
A ___________ occurs when an employee, manager or executive has an undisclosed economic or personal interest in a transaction that adversely affects the organization.

• A. Conflict of interest
• B. Illegal sale
• C. Financial disclosure
• D. Unauthorized purchase

Answer: A

Explanation:
Section: Fraud Prevention and Deterrence

NEW QUESTION # 93
The scheme in which the same vendor is receiving favorable treatment can be found in purchases by vendor searches.

• A. True
• B. False

Answer: A

Explanation:
Section: Investigation

NEW QUESTION # 94
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. Recorded sales
• B. Employee theft
• C. Internal audits
• D. Occupational frauds

Answer: B

NEW QUESTION # 95
According to Hollinger and Clark for Policy development, management must pay attention to:

• A. Enforcement of sanctions
• B. Both A & B
• C. A clear understanding regarding theft behavior
• D. Neither A nor B

Answer: B

Explanation:
Section: Investigation

NEW QUESTION # 96
Which of the following is NOT the reason why senior management will overstate business statement?

• A. Meet personal performance criteria
• B. Show a pattern of growth to support sale of a business
• C. Trigger performance related compensation
• D. Comply with debit covenants

Answer: D

NEW QUESTION # 97
Once the expense account is closed, it becomes a historical item and probably will never be reviewed again.

• A. True
• B. False

Answer: A

Explanation:
Section: Financial Transactions and Fraud Schemes

NEW QUESTION # 98
What is sometimes used to overcome well-designed internal controls of a victim company?

• A. Shell company
• B. Fraudulent invoices
• C. Collusion
• D. Rubber stamp supervisors

Answer: C

Explanation:
Section: Fraud Prevention and Deterrence

NEW QUESTION # 99
Which of the following is NOT the phase of the bidding process?

• A. Presolicitation
• B. Solicitation
• C. Postsolicitation
• D. Submission

Answer: C

Explanation:
Section: Fraud Prevention and Deterrence
Explanation/Reference:

NEW QUESTION # 100
Financial statement fraud is committed by:

• A. Mid and lower level employees
• B. All of the above
• C. Organized criminals
• D. Senior Management

Answer: B

NEW QUESTION # 101
A process by which several bidders conspire to split contracts up and ensure that each gets a certain amount of work is called:

• A. Bid pooling
• B. Bid opening
• C. Bid log
• D. Fictitious Bidding

Answer: A

NEW QUESTION # 102
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. Cost
• C. Net realizable value
• D. Fair value

Answer: C

NEW QUESTION # 103
A __________ is a day-by-day, or chronological, record of transactions

• A. Ledger
• B. Checkbook
• C. Journal
• D. Asset

Answer: C

NEW QUESTION # 104
......

Read Online CFE Test Practice Test Questions Exam Dumps: https://www.validexam.com/CFE-latest-dumps.html

The  CFE PDF Dumps Greatest for the ACFE Exam Study Guide!: https://drive.google.com/open?id=109hyl1JIWa2oI4Kny0hYxn0He7B0PE11