This page was exported from IT Certification Exam Braindumps [ http://blog.braindumpsit.com ] Export date:Sat Apr 5 3:40:38 2025 / +0000 GMT ___________________________________________________ Title: Latest Apr-2024 ACFE CFE Dumps Updated 190 Questions [Q36-Q55] --------------------------------------------------- Latest Apr-2024 ACFE CFE Dumps Updated 190 Questions PDF Download Free of CFE Valid Practice Test Questions ACFE CFE Certification Path On the ACFE's You have to completely fill the CFE Exam application form online website for taking the exam. The Certified Fraud examiner exam application online comprises four sections, namely qualifications, experience and character, signature statement and payment respectively. You are also required to submit supporting documents along with it to the certification portal on ACFE's website. These supporting documents include your photo, proofs of education, proofs of experience and professional recommendations. Once this application is completed, it will take around 3-5 working days to review it and will be notified via email. Achieving the ACFE CFE certification is a significant accomplishment for professionals in the field of fraud examination. It demonstrates that the individual has the knowledge and skills necessary to conduct effective fraud investigations and prevent fraud from occurring. The CFE certification is highly valued by employers and can lead to career advancement opportunities. Additionally, the ACFE offers a range of resources and networking opportunities to certified fraud examiners, providing ongoing support and professional development. Overall, the ACFE CFE certification exam is an important step for professionals who wish to excel in the field of fraud investigation and prevention.   QUESTION 36Occupational fraud and abuse is a (an) __________ of doing business, in much the same way that we pay expenses for electricity, taxes and wages.  Equity  Balance sheet  Expense  Financial record Section: Financial Transactions and Fraud SchemesQUESTION 37When expenses used to produce income- all of them- should be matched in a consistent manner against that income, this is referred to:  Equity  Accrual basis accounting  Expense  Financial record QUESTION 38Theft of incoming checks usually occurs when ________ is (are) in charge of opening the mail and recording the receipt of payments.  Single employee  Two employees  More than two employees  None of the above Section: Financial Transactions and Fraud SchemesExplanation/Reference:QUESTION 39Skimming 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 QUESTION 40Occupational fraud and abuse is a (an) __________ of doing business, in much the same way that we pay expenses for electricity, taxes and wages.  Equity  Balance sheet  Expense  Financial record QUESTION 41Which of the following is the criterion for bid solicitation?  Containing false statements  Allowing the purchaser to discuss possible employment with the contractor  To withdraw low bids  To falsify the bid log QUESTION 42Which of the following is not the skimming scheme?  Unrecorded sales  Fraud & Cost  Theft of checks through the mail  Understand sales and receivables QUESTION 43The person or persons who have access to __________ are often the targets of unethical vendors seeking an advantage in the process.  Bid-splitting  Sealed bids  General purchasing  Tailor specifications Section: Fraud Prevention and DeterrenceQUESTION 44Once the expense account is closed, it becomes a historical item and probably will never be reviewed again.  True  False Section: Financial Transactions and Fraud SchemesQUESTION 45The seller’s price to the buyer is not fixed or determinable when:  When the price is not contingent on some future events  The transaction includes an option to exchange the product for others.  A service or membership fee is not subject predictable cancellation during the contract period.  Payment terms are not extended for a substantial period. Section: Financial Transactions and Fraud SchemesQUESTION 46Fraudsters use the accounting system as a tool to generate the results they want in ___________ approach:  Organized accounting  Playing the accounting  beating accounting  All of the above Section: Financial Transactions and Fraud SchemesQUESTION 47False billing scheme states that:  employees do not cause their company to purchase merchandise that the company does not need.  employees cause their company to sale merchandise that the company does not need.  employees do not cause their company to sale merchandise that the company does not need.  employees cause their company to purchase merchandise that the company does not need Section: Financial Transactions and Fraud SchemesExplanationQUESTION 48Which 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 QUESTION 49________ increase assets and expenses and/or decrease liabilities and/or equity  Journal Entries  Debit  Credit  None of all Section: Financial Transactions and Fraud SchemesQUESTION 50Which of the following must be present for a fraud to exist?  A material false statement  Knowledge that the statement was false when it was uttered  Reliance on the fast statement by the victim  All of the above QUESTION 51Undisclosed payments made by vendors to employees of purchasing companies are referred to as:  Bid-rigging  Kickbacks  Presolicitaion  None of the above Section: Fraud Prevention and DeterrenceQUESTION 52When a victim company purchases unnecessary goods or services from a supplier at the direction of the corrupt employee, this results in:  Presolicitation scheme  Need recognition scheme  False sole-source scheme  Submission scheme QUESTION 53According to Hollinger and Clark for Policy development, management must pay attention to:  A clear understanding regarding theft behavior  Enforcement of sanctions  Both A & B  Neither A nor B QUESTION 54When a victim company purchases unnecessary goods or services from a supplier at the direction of the corrupt employee, this results in:  Presolicitation scheme  Need recognition scheme  False sole-source scheme  Submission scheme QUESTION 55Which of the following is NOT standard of generally accepted accounting principles?  Conservatism  Cost  Full disclosure  Quality control Section: Financial Transactions and Fraud Schemes Loading … To become a Certified Fraud Examiner, individuals must meet certain eligibility requirements, including a minimum of two years of professional experience in a related field, a clean criminal record, and adherence to the ACFE Code of Ethics. CFE exam itself consists of four sections, including Financial Transactions and Fraud Schemes, Fraud Investigation, Legal Elements of Fraud, and Fraud Prevention and Deterrence. Each section contains multiple-choice questions that test the candidate's knowledge and understanding of various fraud-related topics, as well as their ability to apply that knowledge in real-world scenarios. Successfully passing the exam requires a thorough understanding of fraud examination practices, including investigation techniques, accounting principles, and legal regulations.   CFE Test Engine files, CFE Dumps PDF: https://www.braindumpsit.com/CFE_real-exam.html --------------------------------------------------- Images: https://blog.braindumpsit.com/wp-content/plugins/watu/loading.gif https://blog.braindumpsit.com/wp-content/plugins/watu/loading.gif --------------------------------------------------- --------------------------------------------------- Post date: 2024-04-10 14:16:50 Post date GMT: 2024-04-10 14:16:50 Post modified date: 2024-04-10 14:16:50 Post modified date GMT: 2024-04-10 14:16:50