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Question 1

A __________ is a day-by-day, or chronological, record of transactions

AAsset

BJournal

CCheckbook

DLedger

Answer : B

Question 2

Which of the following are the classifications for the Corruption?

ABribery, economic extortion, illegal gratuities and conflicts of interest

BCorruption, bribery, economic extortion, conflicts of interest

COverbilling, bribery, bid-ridding and illegal gratuities

Deconomic extortion, bribery, illegal gratuities and corruption

Answer : A

Question 3

The most common method of detection in corruption cases is:

AInternal audits

BInternal controls

CTips

DBy accident

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

When a victim company purchases unnecessary goods or services from a supplier at the direction of the corrupt employee, this results in:

APresolicitation scheme

BNeed recognition scheme

CFalse sole-source scheme

DSubmission scheme

Answer : B

Question 6

Which of the following is NOT the phase of the bidding process?

APresolicitation

BPostsolicitation

CSolicitation

DSubmission

Answer : B

Question 7

Which of the four basic measures, if properly installed and implemented may help prevent inventory fraud?

AProper documentation, segregation of duties, independent checks and physical safeguards

BProper documentation, segregation of duties, independent checks and inventory control

CProper documentation, physical padding, independent checks and physical safeguards

Dprenumbered affiliations, segregation of duties, independent checks and physical safeguards

Answer : A

ACFE Certified Fraud examiner Exam Practice Test