[Oct 14, 2023] CFE PDF Dumps is essential on your CFE Exam Questions Certain Success!
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ACFE CFE Exam is a rigorous certification that is designed to help individuals become experts in the field of fraud examination. Certified Fraud Examiner certification is recognized globally and can open up a variety of career opportunities for those who obtain it. If you are interested in pursuing a career in fraud examination or are looking to advance your existing career, the ACFE CFE Exam may be the right choice for you.
The CFE Exam is designed to test the knowledge and skills of individuals who are involved in detecting, preventing, and investigating fraud. CFE exam covers four major areas, including fraud prevention and deterrence, financial transactions and fraud schemes, investigation, and law. Certified Fraud Examiner certification program is designed to ensure that individuals who hold the CFE credential are equipped with the knowledge and skills necessary to effectively combat fraud in all its forms, and to maintain the highest standards of ethical conduct in their professional practice.
NEW QUESTION # 67
Bank statement are diligently reviewed to ensure that amounts and signature have not been altered, is an activity for:
- A. Bank reconciliation
- B. Check disbursement controls
- C. Account analysis
- D. Check tampering
Answer: B
NEW QUESTION # 68
Employees with the authority to grant discounts in order to skim revenues may use which authority?
- A. Recording a discount on sale procedure
- B. False discounts
- C. None of the above
- D. Internal discount sales audits
Answer: B
NEW QUESTION # 69
________ increase assets and expenses and/or decrease liabilities and/or equity
- A. Credit
- B. Debit
- C. None of all
- D. Journal Entries
Answer: B
NEW QUESTION # 70
What is sometimes used to overcome well-designed internal controls of a victim company?
- A. Rubber stamp supervisors
- B. Collusion
- C. Shell company
- D. Fraudulent invoices
Answer: B
NEW QUESTION # 71
The difference between assets and liabilities is called:
- A. Expense
- B. Income statement
- C. Equity
- D. Revenue
Answer: C
NEW QUESTION # 72
Another way to eliminate competition in the solicitation phase of the selection process is to:
- A. Solicit bid-splitting from fictitious vendors
- B. None of the above
- C. Solicit bid from fictitious suppliers
- D. Solicit transaction from fictitious vendors
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 73
A special scheme in which employees know their employer is seeking to purchase a certain asset and take advantage of the situation by purchasing the asset themselves is:
- A. Unauthorized sale
- B. Conflict of interest in sale
- C. Written sale of unique assets
- D. Turnaround sale or flip
Answer: D
NEW QUESTION # 74
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 # 75
A tangible asset is one which is:
- A. capable of being appraised
- B. Both A & B
- C. Neither A nor B
- D. capable of being perceived
Answer: B
NEW QUESTION # 76
According to a survey, in principal perpetrator, males in a majority of cases, accounting for ___ percent of frauds versus ___ percent in which a female was the primary culprit.
- A. 61 versus 39
- B. 62 versus 37
- C. None of the above
- D. 62 versus 36
Answer: A
NEW QUESTION # 77
Physical assets including _________ and ________ are the most commonly
misappropriated noncash asset in our study.
- A. Inventory & Purchase
- B. Interest & Collusion
- C. Inventory & Equipment
- D. Sales & Equipment
Answer: C
NEW QUESTION # 78
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 # 79
___________ should be examined to see that all are properly documented and that inappropriate payments have not been made to employees.
- A. Payable checks
- B. Cash advances
- C. counterfeit checks
- D. Payable cash
Answer: B
NEW QUESTION # 80
In which of the following process, all bidders are legally supposed to be placed on the same plane of equality, bidding on the same terms and conditions?
- A. Competitive bidding
- B. Bid solicitation
- C. Bid-rigging
- D. Kickbacks
Answer: A
NEW QUESTION # 81
The most basic skimming scheme occurs when:
- A. An employee sells goods or services to a customer, collects the customer's payment, but makes no record of the sale.
- B. An employee buy goods or services from a stakeholder, drop the stakeholder's payment and makes record of the purchase too.
- C. An employee buy goods or services from a customer, drop the customer's payment, but makes no record of the purchase.
- D. An employee sells goods or services to a stakeholder, collects the stakeholder's payment and makes record of the sale too.
Answer: A
NEW QUESTION # 82
Which of the following is NOT the reason to bribe employees of the purchaser?
- A. To falsify the bid log
- B. To ensure bid-splitting
- C. To ensure receipt of a late bid
- D. To extend the bid opening date
Answer: B
NEW QUESTION # 83
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ACFE has strict eligibility requirements for those interested in taking the CFE exam. Applicants must have a minimum of a bachelor's degree, two years of professional experience in a related field, and must pass a background check. Once these requirements are met, applicants can register for the exam and begin preparing for the rigorous test.
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