ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam Practice Test Instant Access

Question 1

A shell company scheme in which actual goods or services are sold to the victim company is known as:

AMaintenance scheme

BAllocation scheme

CDistribution scheme

DPass-through scheme

Answer : D

Question 2

A shell company scheme in which actual goods or services are sold to the victim company is known as:

AMaintenance scheme

BAllocation scheme

CDistribution scheme

DPass-through scheme

Answer : D

Question 3

Which of the following method is NOT used to detect conflicts of interest?

ATips & Complaints

BReview of vendor ownership files

CUnderbillings of assets

DInterviews with purchasing personnel

Answer : C

Question 4

__________ is required if and when officers, executives or other persons in trusted positions become subjects of a criminal indictment.

AConflict of interest

BTurnaround sale or flip

CDisclosure

DResource diversion

Answer : C

Question 5

A special scheme in which employees know their employer is seeking to purchase a certain asset and take advantage of the situation by purchasing the asset themselves is:

AConflict of interest in sale

BTurnaround sale or flip

CUnauthorized sale

DWritten sale of unique assets

Answer : B

Question 6

The fraudsters' interest lies with an employer other than a company.

ATrue

BFalse

Answer : B

Question 7

A scheme is classified as a Conflict of interest:

Awhen an employee must have some kind of ownership or employment interest in the vendor submitting the invoice.

Bwhen a salesman must have some kind of ownership or employment interest in the vendor submitting the sales.

Cwhen a purchaser must have some kind of ownership or employment interest in the vendor submitting the purchase.

Dwhen a dealer must have some kind of dealership interest in the vendor submitting the stock.

Answer : A

ACFE Certified Fraud Examiner - Financial Transactions and Fraud Schemes Exam Practice Test