This page was exported from Latest Exam Prep [ http://certify.vceprep.com ] Export date:Thu Nov 14 23:43:19 2024 / +0000 GMT ___________________________________________________ Title: [Oct 01, 2024] Pass ACFE CFE Exam Info and Free Practice Test [Q23-Q46] --------------------------------------------------- [Oct 01, 2024] Pass ACFE CFE Exam Info and Free Practice Test CFE Exam Dumps PDF Updated Dump from VCEPrep Guaranteed Success ACFE CFE exam is considered one of the most rigorous and challenging certification exams in the field of fraud detection and prevention. It requires a significant amount of preparation and study, as well as a deep understanding of the various concepts and techniques related to fraud.   Q23. Depreciation is especially applicable when companies try to overvalue their assets and net worth; the lower their depreciation expense, the higher the company’s profits.  True  False Q24. ________ increase assets and expenses and/or decrease liabilities and/or equity  Journal Entries  Debit  Credit  None of all Q25. A shell company scheme in which actual goods or services are sold to the victim company is known as:  Maintenance scheme  Allocation scheme  Distribution scheme  Pass-through scheme Q26. Accounting records are designed to be kept on subjective rather than objective evidence.  True  False Q27. A typical issue involving material and fraud would be:  Fraudulent statement  Misappropriations  Civil lawsuit  Quality control Q28. _________ normally are carried on an organization’s books as expenses because they tend to be consumed by the organization within a year of purchase.  Supplies  Expenses  Assets  Equity Q29. The scheme which reduces victim companies to issue fraudulent payments for goods or services that they have not received is called:  Bogus claims  Billing scheme  Reliance billing  Misappropriate claims Q30. Entering a sales total lower than the amount actually paid by the customer is called:  Underrings a sale  Recording a sale procedure  Internal sales audits  All of the above Section: Financial Transactions and Fraud SchemesQ31. The fraudsters’ interest lies with an employer other than a company.  True  False Section: Fraud Prevention and DeterrenceQ32. In Fraud scale pressure, opportunity and integrity variables all results in a list of ___ possible red flags or indicators of occupational fraud and abuse.  81  82  83  84 Q33. What is sometimes used to overcome well-designed internal controls of a victim company?  Shell company  Fraudulent invoices  Collusion  Rubber stamp supervisors Q34. Which of the following are used in a short term skimming scheme?  Unrecorded sales, understated sales and theft of incoming checks  Unrecorded sales, understated sales and dual endorsements  False company accounts, understated sales and theft of incoming checks  Understated sales, theft of incoming checks and check-for-currency substitutions Q35. __________ can be defined as conduct detrimental to the organization and to the employee.  Employee deviance  Employee theft  Employee fraud  All of the above Section: Fraud Prevention and DeterrenceQ36. In ____________ scheme, a supplier pays an employee of the purchasing company to write specifications that will require amendments at a later date.  Deliberate writing of vague specifications  Need recognition  False specification  Bid-splitting Section: Fraud Prevention and DeterrenceQ37. Skimming is:  The removal of cash from a victim entity prior to its entry in an accounting system.  The addition of cash from a victim entity prior to its entry in an accounting system.  The removal of cash from a victim entity after its entry in an accounting system.  None of above Section: Financial Transactions and Fraud SchemesQ38. Another way to eliminate competition in the solicitation phase of the selection process is to:  Solicit bid from fictitious suppliers  Solicit transaction from fictitious vendors  Solicit bid-splitting from fictitious vendors  None of the above Q39. Which sale occurs when the accomplice of the employee-fraudster “buys” merchandise, but the employee does not ring up the sale, and the accomplice takes the merchandise without making any payment?  Whole sale  Fake sale  Fraudster sale  Preliminary sale Q40. Employees with the authority to grant discounts in order to skim revenues may use which authority?  False discounts  Recording a discount on sale procedure  Internal discount sales audits  None of the above Q41. In ____________ scheme, a supplier pays an employee of the purchasing company to write specifications that will require amendments at a later date.  Deliberate writing of vague specifications  Need recognition  False specification  Bid-splitting Q42. ________ increase assets and expenses and/or decrease liabilities and/or equity  Journal Entries  Debit  Credit  None of all Section: Financial Transactions and Fraud SchemesQ43. Placing any restriction in the solicitation documents that tend to restrict competition is called prebid solicitation.  True  False Q44. Fill in the Blanks___________ allows the fraud examiner to inspect key attributes on a smaller portion (or sample) of those documents. Statistical samplingQ45. When an incorrect total is carried from the journal to the ledger or from ledger to the financial statements, this method is called:  Forced Balance  Out-of-balance  False balance  None of all Q46. The fraudsters’ interest lies with an employer other than a company.  True  False  Loading … ACFE CFE Certification Exam is designed to test the candidates on their knowledge and expertise in various areas of fraud examination, including fraud prevention and deterrence, financial transactions and fraud schemes, investigation techniques, legal elements of fraud, and fraud reporting. CFE exam is divided into four sections, and the candidates have to pass all sections to be awarded the certification. CFE exam is computer-based and consists of 500 multiple-choice questions, which the candidates have to complete in a four-hour time limit. The ACFE CFE Certification Exam is considered as one of the most challenging exams in the industry, and passing it requires dedication, hard work, and extensive preparation.   Pass Your ACFE Exam with CFE Exam Dumps: https://www.vceprep.com/CFE-latest-vce-prep.html --------------------------------------------------- Images: https://certify.vceprep.com/wp-content/plugins/watu/loading.gif https://certify.vceprep.com/wp-content/plugins/watu/loading.gif --------------------------------------------------- --------------------------------------------------- Post date: 2024-10-01 10:38:21 Post date GMT: 2024-10-01 10:38:21 Post modified date: 2024-10-01 10:38:21 Post modified date GMT: 2024-10-01 10:38:21