Get Latest [Sep-2021] Conduct effective penetration tests using Pass4Leader CFE-Financial-Transactions-and-Fraud-Schemes
Penetration testers simulate CFE-Financial-Transactions-and-Fraud-Schemes exam PDF
NEW QUESTION 39
__________ inventory and other assets is relatively common way for fraudsters to remove assets from the books before or after they are stolen.
- A. Altered
- B. False shipping slip
- C. Write-offs
- D. Perpetual
Answer: B
NEW QUESTION 40
The act of an official or fiduciary person who unlawfully and wrongfully uses his station or character to procure some benefit, contrary to duty and rights of others is called:
- A. Conflict of interest
- B. Corruption
- C. Overbilling
- D. Bribery
Answer: B
NEW QUESTION 41
In ___________ scheme, an employee creates false vouchers or submits false invoices to the employer.
- A. Purchase requisition
- B. Cash generating
- C. Sale requisition
- D. Voucher handling
Answer: B
NEW QUESTION 42
The difference between assets and liabilities is called:
- A. Expense
- B. Revenue
- C. Equity
- D. Income statement
Answer: C
NEW QUESTION 43
______________ can be detected by closely examining the documentation submitted with the cash receipts.
- A. None of the above
- B. Voided purchases
- C. Approved transaction
- D. Fictitious refunds
Answer: D
NEW QUESTION 44
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 45
__________ means that traditional bribery statutes proscribe only payments made to influence the decisions of government agents or employees.
Answer:
Explanation:
Official act
NEW QUESTION 46
Entering a sales total lower than the amount actually paid by the customer is called:
- A. Recording a sale procedure
- B. Underrings a sale
- C. All of the above
- D. Internal sales audits
Answer: B
NEW QUESTION 47
____________ is a summary of the account balances carried in a ledger.
- A. Balance sheet
- B. General journal
- C. Financial statement
- D. Income statement
Answer: C
NEW QUESTION 48
Asset misappropriations have an effect on the liabilities and do also have an indirect effect on the equity account.
- A. False
- B. True
Answer: A
NEW QUESTION 49
A fabricated name and the post office box that an employee uses to collect disbursements from false billings is called:
- A. Perpetrator check
- B. Shell company
- C. Accomplice residence
- D. Cash generator
Answer: B
NEW QUESTION 50
Which of the following is NOT the reason why senior management will overstate business statement?
- A. Trigger performance related compensation
- B. Comply with debit covenants
- C. Meet personal performance criteria
- D. Show a pattern of growth to support sale of a business
Answer: B
NEW QUESTION 51
Asset misappropriation schemes were the "middle children" of the study; they were more common than fraudulent statements and more costly than corruption.
- A. False
- B. True
Answer: A
NEW QUESTION 52
Which are check tempering frauds in which an employee prepares a fraudulent check and submits it usually along with legitimate checks to an authorized maker who signs it without a proper review?
- A. Legitimate check scheme
- B. Concealed check scheme
- C. Payable check scheme
- D. Endorse check scheme
Answer: B
NEW QUESTION 53
When situational pressures and perceived opportunities are low and personal integrity is high, occupational fraud is much more likely to occur than when the opposite is true.
- A. False
- B. True
Answer: A
NEW QUESTION 54
The principle behind full disclosure is:
- A. Any material deviation from GAAP must be explained to writer of the financial information.
- B. Any material deviation from SAS must be explained to the writer oh the financial information.
- C. None of above
- D. Any material deviation from GAAP must be explained to the reader of the financial information.
Answer: D
NEW QUESTION 55
Which check tampering red flag may indicate employees have embezzled cash and charged the embezzlement to expense accounts?
- A. Duplicate checks
- B. Voided checks
- C. Missing checks
- D. Payable checks
Answer: C
NEW QUESTION 56
The principal way to detect omitted credits from books of account is through:
- A. Trend analysis
- B. None of all
- C. Forced Balance
- D. Expense account
Answer: A
NEW QUESTION 57
___________ should be examined to see that all are properly documented and that inappropriate payments have not been made to employees.
- A. Cash advances
- B. Payable checks
- C. counterfeit checks
- D. Payable cash
Answer: A
NEW QUESTION 58
Collusion or bid-rigging between bidders is called
- A. Contract acceptance
- B. To withdraw low bids
- C. Bid solicitation
- D. Bribery receipt
Answer: A
NEW QUESTION 59
When an incorrect total is carried from the journal to the ledger or from ledger to the financial statements, this method is called:
- A. Out-of-balance
- B. False balance
- C. None of all
- D. Forced Balance
Answer: D
NEW QUESTION 60
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Tested Material Used To CFE-Financial-Transactions-and-Fraud-Schemes Test Engine: https://www.pass4leader.com/ACFE/CFE-Financial-Transactions-and-Fraud-Schemes-exam.html
Steps Necessary To Pass The CFE-Financial-Transactions-and-Fraud-Schemes Exam: https://drive.google.com/open?id=1gpRlaaHMIgYuzTj5MsBw30M64ZJSJhuf