Free CFE-Financial-Transactions-and-Fraud-Schemes Questions for ACFE Certified Fraud Examiner - Financial Transactions and Fraud Schemes CFE-Financial-Transactions-and-Fraud-Schemes Exam as PDF & Practice Test Engine
Which of the following methods is NOT used to detect conflicts of interest?
Correct Answer: A
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__________ may be defined as the offering, giving, receiving, or soliciting anything of value to influence an official act.
Correct Answer: C
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An analytical review reveals that XYZ Company's cost of goods sold has increased by 75% in the last year.
However, its sales revenues only increased by 25% during the same period. This situation MOST LIKELY indicates which of the following?
However, its sales revenues only increased by 25% during the same period. This situation MOST LIKELY indicates which of the following?
Correct Answer: C
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Which of the following is TRUE regarding accrual-basis accounting?
Correct Answer: D
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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.
Correct Answer: A
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Which of the following is NOT an example of bribery prevention policies?
Correct Answer: C
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__________ are the amounts which are owed to other entities:
Correct Answer: D
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Financial statement fraud is committed by:
Correct Answer: D
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Delivery has not occurred or services have not been rendered when:
Correct Answer: C
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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 owning, operating, and selling it?
Correct Answer: A
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Reconciling the sales records to the cash receipts is an effective way to detect a sales skimming scheme.
Correct Answer: A
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John is a salesperson whose job requires him to entertain potential clients frequently. When John and another salesperson from a different company take a potential client to dinner, the other salesperson pays for the meal.
John creates his own receipt for the meal and submits the expense for reimbursement from his company.
John's scheme can BEST be characterized as:
John creates his own receipt for the meal and submits the expense for reimbursement from his company.
John's scheme can BEST be characterized as:
Correct Answer: A
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Conflict of interest cases are more easily prevented than detected.
Correct Answer: B
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The essential elements of a ________ are an actual or constructive taking away of the goods or property of another without the consent and against the will of the owner and with a felonious intent.
Correct Answer: D
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