Free CFE Exam Braindumps - New 2024 ACFE Pratice Exam
Practice Test for CFE Certification Real 2024 Mock Exam
ACFE CFE (Certified Fraud Examiner) Certification Exam is a globally recognized certification program for professionals who specialize in detecting, preventing, and investigating fraud. Certified Fraud Examiner certification is offered by the Association of Certified Fraud Examiners (ACFE), which is the world's largest anti-fraud organization. CFE exam is designed to test the knowledge, skills, and abilities required to become a successful fraud examiner.
NEW QUESTION # 112
Which check tampering red flag may indicate employees have embezzled cash and charged the embezzlement to expense accounts?
- A. Voided checks
- B. Missing checks
- C. Payable checks
- D. Duplicate checks
Answer: B
Explanation:
Section: Investigation
NEW QUESTION # 113
Bank statement are diligently reviewed to ensure that amounts and signature have not been altered, is an activity for:
- A. Check tampering
- B. Check disbursement controls
- C. Bank reconciliation
- D. Account analysis
Answer: B
NEW QUESTION # 114
In which approach, fraudsters produce whatever financial statements they wish, perhaps using just a typewriter or a personal computer.
- A. Beating accounting
- B. Outside accounting system
- C. Organized accounting
- D. Playing the accounting
Answer: B
NEW QUESTION # 115
Which of the following is NOT the type of billing scheme?
- A. Personal purchases with company funds
- B. Invoicing via non-accomplice companies
- C. Invoicing via shell companies
- D. Invoicing via accomplice companies
Answer: D
NEW QUESTION # 116
According to Marshall, ______ are probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events.
- A. Credentials
- B. None of above
- C. Assets
- D. Liabilities
Answer: C
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 117
The prime targets for skimming schemes which are hard to monitor and predict such as late fees and parking fees, are:
- A. Revenue sources
- B. Recorded sales
- C. Register manipulations
- D. Internal audits
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 118
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 # 119
According to SAB 104, for the revenue to be typically considered realized or realizable and earned, which of the following criteria is NOT met:
- A. Persuasive evidence of an arrangement exists
- B. Timings have been met
- C. Collectability is reasonably assured
- D. Services has been rendered
Answer: B
NEW QUESTION # 120
Which of the following is NOT the aspect of inventory purchase?
- A. might be some fraud scheme in inventory.
- B. Increase sales in year 2 are unexpected and purchase of inventory does not keep pace with the sales.
- C. inventory for the year 2 will be much greater than year 1.
- D. Inventory purchases purposely increase in year 1 only to be liquidated in year 2.
Answer: C
NEW QUESTION # 121
Which of the following is NOT the reason to bribe employees of the purchaser?
- A. To ensure bid-splitting
- B. To extend the bid opening date
- C. To falsify the bid log
- D. To ensure receipt of a late bid
Answer: A
NEW QUESTION # 122
Which of the following is the criterion for bid solicitation?
- A. To withdraw low bids
- B. Containing false statements
- C. Allowing the purchaser to discuss possible employment with the contractor
- D. To falsify the bid log
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 123
The scheme which reduces victim companies to issue fraudulent payments for goods or services that they have not received is called:
- A. Bogus claims
- B. Misappropriate claims
- C. Billing scheme
- D. Reliance billing
Answer: A
NEW QUESTION # 124
Placing any restriction in the solicitation documents that tend to restrict competition is called prebid solicitation.
- A. True
- B. False
Answer: A
NEW QUESTION # 125
Delivery has not occurred or services have not been rendered when:
- A. Both A & B
- B. Until installation and customer testing and acceptance has occurred.
- C. A written order exists but contains a right of return.
- D. Neither A nor B
Answer: C
NEW QUESTION # 126
Statistical sampling enables the examiner to predict the occurrence rate for the population and therefore determine with some accuracy the error rate, or the potential for fraud.
- A. True
- B. False
Answer: A
NEW QUESTION # 127
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To become a Certified Fraud Examiner, candidates must meet certain eligibility requirements, which include a minimum of two years of professional experience in a fraud-related field, a bachelor's degree or equivalent, and adherence to the ACFE's Code of Ethics. Once the eligibility requirements are met, candidates must pass the ACFE CFE certification exam to obtain their certification. The ACFE CFE certification is valid for two years and requires ongoing professional education to maintain.
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