ACFE CFE-Investigation Exam Practice Test Instant Access

Question 1

Due to risks of illicit transactions, most jurisdictions require financial institutions to obtain information about which of the following from an institution with which they have a foreign correspondent relationship?

AThe institution's branch addresses

BThe institution's licenses or certifications

CThe institution's tax statements

DThe institution's client loan profiles

Answer : A

Question 2

Which of the following statements concerning access to nonpublic records is MOST ACCURATE?

AOnce a criminal case is filed, all records obtained by the government are considered public records

BNonpublic records cannot be obtained by subpoena or legal order in a civil action

CIn most junsdictions. banks are allowed to turn over a suspect's account information directly to a fraud victim when there is adequate evidence of wrongdoing.

DThe government usually will not share nonpublic records with a fraud victim during an investigation into the underlying fraud.

Answer : D

Question 3

Which of the following BEST describes the data analytics approach known as predictive analytics?

AThe configuration of a business program to emulate and Integrate the actions of a human to execute certain business processes, thus increasing efficiency and automating repetitive manual tasks

BThe use of historical data, along with analyses, statistics, and machine learning components, to build a mathematical model that captures important trends and creates a quantitative forecast

CThe employment of computer systems to perform human-like tasks such as visual perception and decision-making

DThe use of layered artificial neural networks to accommodate more data and more sophisticated algorithms to identify complex patterns

Answer : B

Question 4

Which of the following is a recommended strategy when conducting admission-seeking interviews?

AIncrease sympathy while downplaying implications of wrongdoing.

BEnsure that accusations are made in the presence of a third party to avoid potential liability

CEmphasize a lack of morality in the subject's actions to induce them into confessing.

DUse time constraints as a means to pressure the subject into making a confession.

Answer : A

Question 5

A fraud examiner contacts a witness regarding an interview. If the respondent says. 'I'm too busy." how should the fraud examiner react?

AExplain that the respondent will be subject to discipline if they do not participate

BStress that the interview will be short.

CCaution the witness that avoidance of the interview will be considered suspicious.

DInquire about a more convenient time

Answer : B

Question 6

Boyd, a Certified Fraud Examiner (CFE). was hired to trace Lottie's financial transactions. During his investigation. Boyd obtains records of electronic payments that Lottie made during the past five years. Which of the following are these records MOST LIKELY to reveal?

AThe market value of any real property Lottie owns

BThe assets that Lottie has purchased

CThe division and distribution of Lottie's assets

DIf Lottie is skimming her employer's funds

Answer : B

Question 7

Which of the following is the MOST ACCURATE statement about how fraud examiners shook! approach fraud examinations?

AFraud examinations should begin with general information that is known, starting at the periphery, and then move to the more specific details.

BWhen conducting fraud examinations, fraud examiners should adhere to the means-and-ends approach

CWhen conducting fraud examinations, fraud examiners should operate under the assumption that the subjects are guilty

DIn most examinations, fraud examiners should interview those who are more involved in the matters at issue before interviewing those who are less involved.

Answer : A

ACFE Certified Fraud Examiner - Investigation Exam Practice Test