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CFE-Fraud-Schemes-and-Financial-Crimes PDF Practice Q&A's

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ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:

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

A) False
B) True


2. 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


3. Which of the following is NOT a measure that is commonly taken by fraudsters during account takeover schemes?

A) Ensuring that the contact information for the overtaken account remains the same to avoid alerting the true account holder
B) Placing orders for products or transferring funds from the overtaken accounts
C) Obtaining email addresses and other account log-in information by sending phishing emails
D) Using log-in credentials that have been stolen from one account to attempt to gain access to other payment accounts


4. Which of the following statements about change order abuse is MOST ACCURATE?

A) Change order abuse usually involves collusion among several contractors.
B) Change order abuse often causes the procuring entity to lose the advantages offered by the competitive bidding process.
C) Change order abuse is a scheme typically committed by sole-source vendors.
D) Change order abuse generally results in procuring entities paying the winning contractor less than the amount of the accepted bid.


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

A) Tangible Assets
B) Intangible Assets
C) Forced Assets
D) None of the above


Solutions:

Question # 1
Answer: A
Question # 2
Answer: A
Question # 3
Answer: A
Question # 4
Answer: B
Question # 5
Answer: B

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