Pass the ACFE Certified Fraud Examiner CFE Questions and answers with CertsForce

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Questions # 1:

The prime targets for skimming schemes which are hard to monitor and predict such as late fees and parking fees, are:

Options:

A.

Revenue sources


B.

Recorded sales


C.

Internal audits


D.

Register manipulations


Questions # 2:

In ___________ scheme, an employee creates false vouchers or submits false invoices to the employer.

Options:

A.

Sale requisition


B.

Purchase requisition


C.

Voucher handling


D.

Cash generating


Questions # 3:

Any expenses that are incurred but not paid by the end of the year are counted in our records of profit and loss, are called:

Options:

A.

Accruals


B.

Depreciations


C.

Expenses


D.

Financial record


Questions # 4:

Asset misappropriation schemes were the “middle children” of the study; they were more common than fraudulent statements and more costly than corruption.

Options:

A.

True


B.

False


Questions # 5:

Larceny is the scheme in which an employee simply takes inventory from the company premises without attempting to conceal it in the books and records.

Options:

A.

True


B.

False


Questions # 6:

The seller’s price to the buyer is not fixed or determinable when:

Options:

A.

When the price is not contingent on some future events


B.

The transaction includes an option to exchange the product for others.


C.

A service or membership fee is not subject predictable cancellation during the contract period.


D.

Payment terms are not extended for a substantial period.


Questions # 7:

In physical tampering prevention technique, hidden images can be seen only when the check is held at an angle through:

Options:

A.

High-resolution sprays


B.

Holographic safety inks


C.

Watermark backers


D.

Chrome coloring


Questions # 8:

The excess credits (or debits) on the income statement are used to decrease (or increase) the equity account.

Options:

A.

True


B.

False


Questions # 9:

The price of an asset on which the asset is selling at on the open market in a transaction between a willing buyer and a wiling seller is called:

Options:

A.

Absolute value


B.

Fair value


C.

Cost value


D.

material value


Questions # 10:

Which of the following search is used for unusually high incidence of returns and allowances scheme?

Options:

A.

Allowances by vendors


B.

Disposals of allowances than reorders


C.

Returns and allowances


D.

None of the above


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