100% Pass Top-selling CFE Exams - New 2022 ACFE Pratice Exam
ACFE Certification Dumps CFE Exam for Full Questions - Exam Study Guide
The benefit in Obtaining the ACFE CFE Certification Exam
The benefits of this course benefit both professionals and the general economy. Here is a list of 7 benefits that the CFE course can bring to you and the economy.
NEW QUESTION 89
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:
- A. Cost value
- B. material value
- C. Absolute value
- D. Fair value
Answer: D
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 90
A process by which several bidders conspire to split contracts up and ensure that each gets a certain amount of work is called:
- A. Bid opening
- B. Fictitious Bidding
- C. Bid pooling
- D. Bid log
Answer: C
NEW QUESTION 91
A tangible asset is one which is:
- A. Neither A nor B
- B. capable of being perceived
- C. Both A & B
- D. capable of being appraised
Answer: C
NEW QUESTION 92
__________ is required if and when officers, executives or other persons in trusted positions become subjects of a criminal indictment.
- A. Conflict of interest
- B. Resource diversion
- C. Disclosure
- D. Turnaround sale or flip
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 93
Every bribe is a two-sided transaction, in which where a vendor bribes a purchaser, there is someone on the vendor's side of the transaction who is not making an illicit payment.
- A. False
- B. True
Answer: A
NEW QUESTION 94
The behavior profile of employees who are involved in bribery schemes may include:
- A. Drug and/or alcohol addiction
- B. All of the above
- C. Gambling habit
- D. Extravagant lifestyle
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
Explanation
NEW QUESTION 95
Which of the following is NOT the reason to bribe employees of the purchaser?
- A. To ensure receipt of a late bid
- B. To falsify the bid log
- C. To ensure bid-splitting
- D. To extend the bid opening date
Answer: C
NEW QUESTION 96
Which of the following is NOT standard of generally accepted accounting principles?
- A. Full disclosure
- B. Conservatism
- C. Quality control
- D. Cost
Answer: C
NEW QUESTION 97
Physical assets including _________ and ________ are the most commonly misappropriated noncash asset in our study.
- A. Inventory & Equipment
- B. Sales & Equipment
- C. Inventory & Purchase
- D. Interest & Collusion
Answer: A
NEW QUESTION 98
___________ should be examined to see that all are properly documented and that inappropriate payments have not been made to employees.
- A. Cash advances
- B. Payable cash
- C. counterfeit checks
- D. Payable checks
Answer: A
NEW QUESTION 99
Multiple cashiers operate from a single cash drawer without separate access codes is a red flag for:
- A. Register scheme
- B. Force inventory scheme
- C. Fraudulent scheme
- D. Disbursement scheme
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 100
The behavior profile of employees who are involved in bribery schemes may include:
- A. Drug and/or alcohol addiction
- B. All of the above
- C. Gambling habit
- D. Extravagant lifestyle
Answer: B
NEW QUESTION 101
"Anticipate possible losses and omit potential profits", this results in:
- A. Asymmetrical accounting
- B. Bearing accounting
- C. Symmetrical accounting
- D. Playing accounting
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 102
Which of the following is NOT the reason why senior management will overstate business statement?
- A. Comply with debit covenants
- B. Show a pattern of growth to support sale of a business
- C. Trigger performance related compensation
- D. Meet personal performance criteria
Answer: A
NEW QUESTION 103
The forms that allow noncash assets to be moved from one location in a company to another can be used to facilitate the misappropriation of those assets are called:
- A. Fake sales
- B. All of the above
- C. Asset requisition
- D. Inventory usages
Answer: C
NEW QUESTION 104
The seller's price to the buyer is not fixed or determinable when:
- A. The transaction includes an option to exchange the product for others.
- B. A service or membership fee is not subject predictable cancellation during the contract period.
- C. Payment terms are not extended for a substantial period.
- D. When the price is not contingent on some future events
Answer: A
NEW QUESTION 105
Which of the following is the amount of money that would be realized upon the sale of the asset at some point in the future, less the costs associated with owing, operating and selling it?
- A. Net realizable value
- B. Fair value
- C. Going concern
- D. Cost
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 106
CORRECT TEXT
__________ means that traditional bribery statutes proscribe only payments made to influence the decisions of government agents or employees.
Answer:
Explanation:
Pending
NEW QUESTION 107
One final means of concealing a register scheme, as with many kinds of fraud, is to destroy all records of the transaction.
- A. True
- B. False
Answer: A
NEW QUESTION 108
Physical assets including _________ and ________ are the most commonly misappropriated noncash asset in our study.
- A. Inventory & Equipment
- B. Sales & Equipment
- C. Inventory & Purchase
- D. Interest & Collusion
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 109
Occupational fraud and abuse is a (an) __________ of doing business, in much the same way that we pay expenses for electricity, taxes and wages.
- A. Balance sheet
- B. Financial record
- C. Equity
- D. Expense
Answer: D
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 110
Which are check tempering frauds in which an employee prepares a fraudulent check and submits it usually along with legitimate checks to an authorized maker who signs it without a proper review?
- A. Endorse check scheme
- B. Payable check scheme
- C. Concealed check scheme
- D. Legitimate check scheme
Answer: C
NEW QUESTION 111
Theft of incoming checks usually occurs when ________ is (are) in charge of opening the mail and recording the receipt of payments.
- A. None of the above
- B. Single employee
- C. Two employees
- D. More then two employees
Answer: B
NEW QUESTION 112
In ___________ scheme, an employee creates false vouchers or submits false invoices to the employer.
- A. Voucher handling
- B. Sale requisition
- C. Cash generating
- D. Purchase requisition
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 113
"Anticipate possible losses and omit potential profits", this results in:
- A. Asymmetrical accounting
- B. Bearing accounting
- C. Symmetrical accounting
- D. Playing accounting
Answer: A
NEW QUESTION 114
......
Authentic Best resources for CFE Online Practice Exam: https://realpdf.free4torrent.com/CFE-valid-dumps-torrent.html