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ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:
1. Which of the following measures would likely be MOST EFFECTIVE in helping to prevent fraudulent billing schemes?
A) Requiring all fraud tips to be reported to employees' direct supervisors
B) Prohibiting competitive bidding from potential contractors
C) Separating the purchasing and payment functions
D) Using an external vendor to negotiate procurement contracts
2. Which of the following statements about competitive intelligence is CORRECT?
A) Competitive intelligence involves the use of illegal, covert means to acquire information for commercial purposes.
B) Competitive intelligence refers to government-sanctioned activities conducted to collect protected information from a foreign government.
C) Competitive intelligence is considered a legitimate business function.
D) Competitive intelligence and corporate espionage describe identical practices.
3. Pilar had to purchase computer equipment for ABC Corporation, her employer. Pilar created a shell company, used the shell company to purchase used computer equipment, and then resold that equipment to ABC Corporation at an increased price. This is an example of a:
A) Cash larceny scheme
B) Pay and return scheme
C) Need recognition scheme
D) Pass-through scheme
4. Financial statement fraud is BEST described as the intentional or accidental misstatement of amounts in the financial statements.
A) True
B) False
5. In what type of fraud scheme does an employee steal cash after it has appeared on the company's books?
A) Cash larceny scheme
B) Understated sales (skimming) scheme
C) Unrecorded sales (skimming) scheme
D) Kickback scheme
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C | Question # 3 Answer: D | Question # 4 Answer: B | Question # 5 Answer: A |
By Allen
