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CFE Practice Questions

Question # 1

What is sometimes used to overcome well-designed internal controls of a victim company?

A.

Shell company

B.

Fraudulent invoices

C.

Collusion

D.

Rubber stamp supervisors



C.

Collusion




Question # 2

Assets that are long-lived and that differ from property, plant and equipment hat has been
purchased outright or acquired under a capital lease are:

A.

. Tangible Assets

B.

Intangible Assets

C.

Forced Assets

D.

None of above



B.

Intangible Assets




Question # 3

A variation between the physical inventory and the perpetual inventory totals is called:

A.

Altered inventory

B.

Account receivable

C.

Shrinkage

D.

Write-offs



C.

Shrinkage




Question # 4

Most of the shell company schemes involve the purchase of goods rather than services.

A.

True

B.

False



B.

False




Question # 5

__________ inventory and other assets is relatively common way for fraudsters to remove
assets from the books before or after they are stolen.

A.

Altered

B.

Perpetual

C.

False shipping slip

D.

Write-offs



C.

False shipping slip




Question # 6

Which counts sometimes can give rise to inventory theft detection?

A.

Perpetual inventory counts

B.

Physical inventory counts

C.

Concealment inventory counts

D.

None of the above



B.

Physical inventory counts




Question # 7

What can make it easy for an employee to skim sales or receivables? 

A.

Revenue sources and recording procedures

B.

Poor collection and recording procedures

C.

Internal audits and recording procedures

D.

Register manipulations and recording procedures



B.

Poor collection and recording procedures




Question # 8

Which of the following factors is NOT included in most financial statement schemes?

A.

Fictitious revenues

B.

Persuasive Evidence

C.

Concealed liabilities and expenses

D.

Improper asset valuations



B.

Persuasive Evidence




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ACFE CFE Exam Dumps

Exam Name: Certified Fraud Examiner
Certification Name: Certified Fraud Examiner

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  • Total Questions: 186
  • Last Updation Date: 17-Oct-2024

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