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

Question 1

The principal way to detect omitted credits from books of account is through:

AForced Balance

BTrend analysis

CExpense account

DNone of all

Answer : B

Question 2

Which of the following is NOT the type of billing scheme?

AInvoicing via shell companies

BInvoicing via non-accomplice companies

CInvoicing via accomplice companies

DPersonal purchases with company funds

Answer : C

Question 3

Undisclosed payments made by vendors to employees of purchasing companies are referred to as:

ABid-rigging

BKickbacks

CPresolicitaion

DNone of the above

Answer : B

Question 4

What can make it easy for an employee to skim sales or receivables?

ARevenue sources and recording procedures

BPoor collection and recording procedures

CInternal audits and recording procedures

DRegister manipulations and recording procedures

Answer : B

Question 5

Which of the following are not of Basic types of non-sharable problems?

AViolation of ascribed obligations

BBusiness reversals

CPhysical Isolation

DLarceny by Fraud

Answer : D

Question 6

Most of the shell company schemes involve the purchase of goods rather than services.

ATrue

BFalse

Answer : B

Question 7

A voucher is:

Aa file that includes the purchase order that was send to the vendor, the vendor invoice listing the cost and quantity of items purchased, and the internal receiving reports that verify the purchased items have been delivered.

Ba figure that includes the sale order that was send to the dealer, the vendor invoice listing the cost and quantity of items sold, and the internal receiving reports that verify the purchased items have been delivered.

Ca report that includes the purchase order that was send to the vendor, the vendor invoice listing the quality and quantity of items purchased, and the external receiving reports that verify the items have been sold.

Da mammogram that includes the purchase order that was send to the purchaser, the purchaser invoice listing the benefits and quantity of items purchased, and the internal receiving reports that verify the purchased items have been sold.

Answer : A

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