ACFE Exam Practice Test Instant Access - No Installation Required

Question 1

The scheme in which the same vendor is receiving favorable treatment van be found in purchases by vendor searches.

ATrue

BFalse

Answer : A

Question 2

Which of the following is NOT the aspect of inventory purchase?

AInventory purchases purposely increase in year 1 only to be liquidated in year 2.

Binventory for the year 2 will be much greater than year 1.

CIncrease sales in year 2 are unexpected and purchase of inventory does not keep pace with the sales.

Dmight be some fraud scheme in inventory.

Answer : B

Question 3

Skimming cases can more likely to be detected by:

AInternal audits

BAccidents

CInternal controls

Doccupational frauds

Answer : B

Question 4

A person is said to be in ________ act, when the business which he transacts, or the money or property which he handles, is not for his own benefit, but for another person:

AFiduciary Capacity

BEmbezzlement

CConversion

DNone of the above

Answer : A

Question 5

The essential elements of a ________ are an actual or constructive taking away of the goods or property of another with the without the consent and against the will of the owner and with a felonious intent.

ALarceny

BAbuse

CFiduciary

DNone of the above

Answer : A

Question 6

Statistical sampling enables the examiner to predict the occurrence rate for the population and therefore determine with some accuracy the error rate, or the potential for fraud.

ATrue

BFalse

Answer : A

Question 7

False billing scheme states that:

Aemployees do not cause their company to purchase merchandise that the company does not need.

Bemployees cause their company to sale merchandise that the company does not need.

Cemployees do not cause their company to sale merchandise that the company does not need.

Demployees cause their company to purchase merchandise that the company does not need

Answer : D

ACFE Certified Fraud examiner Exam Practice Test