Download CFE Exam Dumps Questions to get 100% Success in ACFE
100% Accurate Answers! CFE Actual Real Exam Questions
NEW QUESTION # 48
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. False
- B. True
Answer: B
NEW QUESTION # 49
_________ assumes the business will go on indefinitely in the future.
- A. Going concern
- B. Cost
- C. Fair value
- D. Materiality
Answer: A
NEW QUESTION # 50
Which of the following can constitute a bribe, even if the illicit payment is never actually made?
- A. Offering a payment
- B. kickback payment
- C. Corruption in payment
- D. Overbilling in payment
Answer: A
NEW QUESTION # 51
The forms that allow noncash assets to be moved from one location in a company to another can be used to facilitate the misappropriation of those assets are called:
- A. Fake sales
- B. Inventory usages
- C. Asset requisition
- D. All of the above
Answer: C
NEW QUESTION # 52
The most basic skimming scheme occurs when:
- A. An employee sells goods or services to a stakeholder, collects the stakeholder's payment and makes record of the sale too.
- B. An employee buy goods or services from a customer, drop the customer's payment, but makes no record of the purchase.
- C. An employee buy goods or services from a stakeholder, drop the stakeholder's payment and makes record of the purchase too.
- D. An employee sells goods or services to a customer, collects the customer's payment, but makes no record of the sale.
Answer: D
NEW QUESTION # 53
In ___________ scheme, an employee creates false vouchers or submits false invoices to the employer.
- A. Purchase requisition
- B. Sale requisition
- C. Voucher handling
- D. Cash generating
Answer: D
NEW QUESTION # 54
How many accounts are affected in fraudulent accounting entries and therefore same number of categories on the financial statement?
- A. One
- B. At least two
- C. More than two
- D. None of above
Answer: A
NEW QUESTION # 55
Fill in blank
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 # 56
Employees steal an incoming payment and then place the incoming funds in an interest bearing account for:
- A. Concealing the fraud
- B. Short-term skimming
- C. All of the above
- D. Converting stolen checks
Answer: B
NEW QUESTION # 57
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. False
- B. True
Answer: B
Explanation:
Section: Financial Transactions and Fraud Schemes
Explanation/Reference:
NEW QUESTION # 58
Delivery has not occurred or services have not been rendered when:
- A. Neither A nor B
- B. A written order exists but contains a right of return.
- C. Both A & B
- D. Until installation and customer testing and acceptance has occurred.
Answer: B
Explanation:
Section: Financial Transactions and Fraud Schemes
Explanation/Reference:
NEW QUESTION # 59
In ____________ scheme, a supplier pays an employee of the purchasing company to write specifications that will require amendments at a later date.
- A. Need recognition
- B. Deliberate writing of vague specifications
- C. False specification
- D. Bid-splitting
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 60
Which of the following is NOT the reason to bribe employees of the purchaser?
- A. To ensure bid-splitting
- B. To falsify the bid log
- C. To ensure receipt of a late bid
- D. To extend the bid opening date
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 61
Which check tampering red flag may indicate employees have embezzled cash and charged the embezzlement to expense accounts?
- A. Voided checks
- B. Payable checks
- C. Missing checks
- D. Duplicate checks
Answer: C
Explanation:
Section: Investigation
NEW QUESTION # 62
_____________ involves purposeful misreporting of financial information about the organization that is intended to mislead those who read it.
- A. Asset misappropriations
- B. Corruption
- C. None of above
- D. Fraudulent statement
Answer: D
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 63
......
ACFE CFE Certification Exam is a rigorous and challenging exam that requires candidates to demonstrate a high level of proficiency in the field of fraud examination. However, passing the exam can lead to a rewarding career as a certified fraud examiner, with opportunities for advancement and higher salaries. The ACFE CFE Certification Exam is a valuable credential for professionals who are interested in pursuing a career in fraud examination, and it is highly respected by employers around the world.
Best Value Available! Realistic Verified Free CFE Exam Questions: https://www.validexam.com/CFE-latest-dumps.html
Pass Your Exam Easily! CFE Real Question Answers Updated: https://drive.google.com/open?id=109hyl1JIWa2oI4Kny0hYxn0He7B0PE11