[Aug 02, 2023] New Real CFE Exam Dumps Questions
Pass Your CFE Exam Easily with Accurate Certified Fraud Examiner PDF Questions
The CFE certification exam is the gold standard in the anti-fraud profession. CFE exam tests candidates' knowledge and skills in the areas of fraud prevention, detection, and investigation. Eligibility for the certification requires a minimum of two years of professional experience and adherence to the ACFE's code of ethics. Obtaining the CFE certification can enhance a candidate's career prospects in the anti-fraud profession and demonstrate their commitment to preventing fraud.
NEW QUESTION # 57
When expenses used to produce income- all of them- should be matched in a consistent manner against that income, this is referred to:
- A. Financial record
- B. Accrual basis accounting
- C. Expense
- D. Equity
Answer: B
NEW QUESTION # 58
Undisclosed payments made by vendors to employees of purchasing companies are referred to as:
- A. Bid-rigging
- B. None of the above
- C. Kickbacks
- D. Presolicitaion
Answer: C
NEW QUESTION # 59
A shell company scheme in which actual goods or services are sold to the victim company is known as:
- A. Pass-through scheme
- B. Allocation scheme
- C. Distribution scheme
- D. Maintenance scheme
Answer: A
NEW QUESTION # 60
Which sale occurs when the accomplice of the employee-fraudster "buys" merchandise, but the employee does not ring up the sale, and the accomplice takes the merchandise without making any payment?
- A. Fraudster sale
- B. Preliminary sale
- C. Whole sale
- D. Fake sale
Answer: D
NEW QUESTION # 61
Which of the following is NOT the reason to bribe employees of the purchaser?
- A. To falsify the bid log
- B. To extend the bid opening date
- C. To ensure bid-splitting
- D. To ensure receipt of a late bid
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
Explanation/Reference:
NEW QUESTION # 62
Physical tampering prevention is a check tampering technique that is used to secure bankassisted controls.
- A. False
- B. True
Answer: A
NEW QUESTION # 63
Which of the following is NOT the aspect of inventory purchase?
- A. might be some fraud scheme in inventory.
- B. Inventory purchases purposely increase in year 1 only to be liquidated in year 2.
- C. inventory for the year 2 will be much greater than year 1.
- D. Increase sales in year 2 are unexpected and purchase of inventory does not keep pace with the sales.
Answer: C
NEW QUESTION # 64
A variation between the physical inventory and the perpetual inventory totals is called:
- A. Write-offs
- B. Altered inventory
- C. Shrinkage
- D. Account receivable
Answer: C
NEW QUESTION # 65
In ___________ scheme, an employee creates false vouchers or submits false invoices to the employer.
- A. Cash generating
- B. Purchase requisition
- C. Sale requisition
- D. Voucher handling
Answer: A
NEW QUESTION # 66
CORRECT TEXT
______________ is required not only for theft, but for procedures to detect errors, avoid waste and insure a proper amount of inventory is maintained.
Answer:
Explanation:
Pending
NEW QUESTION # 67
Which of the following can constitute a bribe, even if the illicit payment is never actually made?
- A. Overbilling in payment
- B. Offering a payment
- C. Corruption in payment
- D. kickback payment
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 68
The more power a person has over the bidding process, the more likely the person can influence the selection of a supplier.
- A. False
- B. True
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 69
Which of the following is the criterion for bid solicitation?
- A. Allowing the purchaser to discuss possible employment with the contractor
- B. Containing false statements
- C. To falsify the bid log
- D. To withdraw low bids
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
Explanation
NEW QUESTION # 70
A shell company scheme in which actual goods or services are sold to the victim company is known as:
- A. Pass-through scheme
- B. Allocation scheme
- C. Distribution scheme
- D. Maintenance scheme
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
Explanation
NEW QUESTION # 71
Which of the following is NOT the type of billing scheme?
- A. Invoicing via non-accomplice companies
- B. Invoicing via shell companies
- C. Personal purchases with company funds
- D. Invoicing via accomplice companies
Answer: D
NEW QUESTION # 72
The behavior profile of employees who are involved in bribery schemes may include:
- A. Gambling habit
- B. Drug and/or alcohol addiction
- C. Extravagant lifestyle
- D. All of the above
Answer: D
NEW QUESTION # 73
The price of an asset on which the asset is selling at on the open market in a transaction between a willing buyer and a wiling seller is called:
- A. Fair value
- B. Cost value
- C. material value
- D. Absolute value
Answer: A
NEW QUESTION # 74
A typical issue involving material and fraud would be:
- A. Misappropriations
- B. Fraudulent statement
- C. Quality control
- D. Civil lawsuit
Answer: A
NEW QUESTION # 75
CORRECT TEXT
_________ is defined as a person who works for the victim organization and who is primary culprit
Answer:
Explanation:
Pending
NEW QUESTION # 76
Which of the following is the amount of money that would be realized upon the sale of the asset at some point in the future, less the costs associated with owing, operating and selling it?
- A. Net realizable value
- B. Fair value
- C. Going concern
- D. Cost
Answer: A
NEW QUESTION # 77
Which sale occurs when the accomplice of the employee-fraudster "buys" merchandise, but the employee does not ring up the sale, and the accomplice takes the merchandise without making any payment?
- A. Fraudster sale
- B. Preliminary sale
- C. Whole sale
- D. Fake sale
Answer: D
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 78
What is sometimes used to overcome well-designed internal controls of a victim company?
- A. Rubber stamp supervisors
- B. Fraudulent invoices
- C. Shell company
- D. Collusion
Answer: D
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 79
__________ can be defined as conduct detrimental to the organization and to the employee.
- A. All of the above
- B. Employee fraud
- C. Employee theft
- D. Employee deviance
Answer: D
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 80
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The CFE certification is highly regarded in the industry, and is recognized by employers and regulatory agencies around the world. Professionals who hold this certification are considered to be experts in the field, and are often highly sought after by organizations seeking to prevent and detect fraud.
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