Get Prepared for Your CFE-Financial-Transactions-and-Fraud-Schemes Exam With Actual 100 Questions
Valid CFE-Financial-Transactions-and-Fraud-Schemes Test Answers Full-length Practice Certification Exams
NEW QUESTION # 48
Which of the following ratios can be used to assess a company's ability to meet sudden cash requirements?
- A. Quick ratio
- B. Asset turnover ratio
- C. Receivable turnover ratio
- D. Debt-to-equity ratio
Answer: B
Explanation:
Explanation/Reference: https://www.investopedia.com/ask/answers/062215/what-are-financial-risk-ratios-and-how-are-they-used-measure-risk.asp
NEW QUESTION # 49
A journal in which all sales made on credit or cash are listed is:
- A. Accounts payable journal
- B. General journal
- C. Disbursement journal
- D. Accounts receivable journal
Answer: D
NEW QUESTION # 50
Perceived certainty of detection is directly related to employee theft for respondents in all industry sectors, that is the stronger the perception that theft would be detected, the more the likelihood that the employee would engage in deviant behavior.
- A. True
- B. False
Answer: B
NEW QUESTION # 51
Employees with the authority to grant discounts in order to skim revenues may use which authority?
- A. Recording a discount on sale procedure
- B. Internal discount sales audits
- C. False discounts
- D. None of the above
Answer: C
NEW QUESTION # 52
The person or persons who have access to __________ are often the targets of unethical vendors seeking an advantage in the process.
- A. General purchasing
- B. Bid-splitting
- C. Tailor specifications
- D. Sealed bids
Answer: D
NEW QUESTION # 53
June, a 76-year-old woman, receives a phone call from a man impersonating one of her relatives. He claims to have a lot of debt and asks her to secretly send him money so that the rest of the family will not find out. June has MOST LIKELY been victimized by which of the following schemes?
- A. Grandparent scheme
- B. Pretexting fraud
- C. Missing-heir scheme
- D. Affinity fraud
Answer: B
Explanation:
Explanation/Reference: https://www.acfe.com/article.aspx?id=504
NEW QUESTION # 54
All of the following are common ways that a procuring employee might engage in a bid manipulation scheme EXCEPT:
- A. Extending bid opening dates without justification
- B. Charging for costs that are not allowable
- C. Altering bids
- D. Opening bids prematurely
Answer: B
NEW QUESTION # 55
Which of the following is a method for gaining unauthorized access to a computer system whereby the attacker deceives victims into disclosing personal information or convinces them to commit acts that facilitate the attacker's intended scheme?
- A. Social engineering
- B. Spoofing
- C. Scavenging
- D. Shoulder surfing
Answer: B
Explanation:
Explanation/Reference: https://www.forcepoint.com/cyber-edu/spoofing
NEW QUESTION # 56
The principal way to detect omitted credits from books of account is through:
- A. Expense account
- B. Trend analysis
- C. Forced Balance
- D. None of all
Answer: B
NEW QUESTION # 57
Which of the following statements about corporate espionage is CORRECT?
- A. Corporate espionage is the process by which competitor data re assembled into relevant, accurate, and usable knowledge.
- B. Corporate espionage is considered to be a legitimate business function.
- C. Corporate espionage and competitive intelligence are synonymous terms.
- D. Corporate espionage involves the use of illegal, clandestine means to acquire information for commercial purposes.
Answer: D
Explanation:
Explanation/Reference: https://en.wikipedia.org/wiki/Industrial_espionage
NEW QUESTION # 58
Which of the following statements about skimming is INCORRECT?
- A. Skimming schemes are generally more difficult to detect than cash larceny schemes.
- B. Skimming schemes can involve the theft of either cash sales or accounts receivable payments.
- C. Skimming schemes are considered on-book frauds because they leave an audit trail.
- D. Skimming schemes involve stolen customer payments that have not yet been recorded.
Answer: C
Explanation:
Explanation/Reference: https://www.acfe.com/uploadedFiles/Shared_Content/Products/Self-Study_CPE/Intro%20to%20Fraud-Chapter%20Excerpt.pdf
NEW QUESTION # 59
What is sometimes used to overcome well-designed internal controls of a victim company?
- A. Collusion
- B. Shell company
- C. Rubber stamp supervisors
- D. Fraudulent invoices
Answer: A
NEW QUESTION # 60
How many accounts are affected in fraudulent accounting entries and therefore same number of categories on the financial statement?
- A. More than two
- B. One
- C. At least two
- D. None of above
Answer: B
NEW QUESTION # 61
Most of the shell company schemes involve the purchase of goods rather than services.
- A. True
- B. False
Answer: B
NEW QUESTION # 62
Assets that are long-lived and that differ from property, plant and equipment hat has been purchased outright or acquired under a capital lease are:
- A. Intangible Assets
- B. Forced Assets
- C. None of above
- D. Tangible Assets
Answer: A
NEW QUESTION # 63
__________ can be defined as conduct detrimental to the organization and to the employee.
- A. All of the above
- B. Employee deviance
- C. Employee fraud
- D. Employee theft
Answer: B
NEW QUESTION # 64
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