ACFE CFE Cert Guide PDF 100% Cover Real Exam Questions
Pass CFE Exam - Real Questions and Answers
The CFE Certification Exam is an important certification for individuals who want to pursue a career in fraud investigation. The exam covers a broad range of topics related to fraud prevention, detection, investigation, and deterrence. Individuals who hold the CFE Certification have demonstrated a commitment to fighting fraud and have the knowledge and skills needed to identify and prevent fraud in their organizations. The ACFE offers a variety of resources to help individuals prepare for the exam, making it an accessible and valuable certification for anyone interested in the field of fraud investigation.
Individuals who hold the CFE credential are highly valued in the anti-fraud industry. They have demonstrated their commitment to ethical and professional conduct and have the skills and knowledge necessary to prevent, detect, and investigate fraud. The CFE credential is recognized by employers, clients, and peers as a mark of excellence in the field of fraud prevention and detection.
NEW QUESTION # 59
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. Asset requisition
- C. All of the above
- D. Inventory usages
Answer: B
NEW QUESTION # 60
Which of the following can constitute a bribe, even if the illicit payment is never actually made?
- A. Corruption in payment
- B. kickback payment
- C. Offering a payment
- D. Overbilling in payment
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 61
In which phase of competitive bidding process, fraudsters attempt to influence the selection of a contractor by restricting the pool of competitors from whom bids are sought?
- A. False specification
- B. Need recognition
- C. Solicitation
- D. Submission
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 62
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. Expense
- B. Balance sheet
- C. Equity
- D. Financial record
Answer: A
NEW QUESTION # 63
A journal in which all sales made on credit or cash are listed is:
- A. General journal
- B. Accounts payable journal
- C. Accounts receivable journal
- D. Disbursement journal
Answer: C
NEW QUESTION # 64
Undisclosed payments made by vendors to employees of purchasing companies are referred to as:
- A. None of the above
- B. Presolicitaion
- C. Kickbacks
- D. Bid-rigging
Answer: C
NEW QUESTION # 65
Which of the following is NOT the reason to bribe employees of the purchaser?
- A. To ensure receipt of a late bid
- B. To ensure bid-splitting
- C. To extend the bid opening date
- D. To falsify the bid log
Answer: B
NEW QUESTION # 66
Bank statement are diligently reviewed to ensure that amounts and signature have not been altered, is an activity for:
- A. Bank reconciliation
- B. Check disbursement controls
- C. Account analysis
- D. Check tampering
Answer: B
NEW QUESTION # 67
A __________ is a day-by-day, or chronological, record of transactions
- A. Checkbook
- B. Asset
- C. Ledger
- D. Journal
Answer: D
NEW QUESTION # 68
The seller's price to the buyer is not fixed or determinable when:
- A. Payment terms are not extended for a substantial period.
- B. The transaction includes an option to exchange the product for others.
- C. When the price is not contingent on some future events
- D. A service or membership fee is not subject predictable cancellation during the contract period.
Answer: B
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 69
Skimming cases can more likely to be detected by:
- A. Internal controls
- B. occupational frauds
- C. Accidents
- D. Internal audits
Answer: C
NEW QUESTION # 70
Employees steal an incoming payment and then place the incoming funds in an interest bearing account for:
- A. Short-term skimming
- B. Converting stolen checks
- C. All of the above
- D. Concealing the fraud
Answer: A
NEW QUESTION # 71
________ decrease assets and expenses and/or increase liabilities and/or equity
- A. None of all
- B. Journal Entries
- C. Credit
- D. Debit
Answer: C
NEW QUESTION # 72
Which of the following is NOT the type of billing scheme?
- A. Invoicing via non-accomplice companies
- B. Personal purchases with company funds
- C. Invoicing via accomplice companies
- D. Invoicing via shell companies
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 73
__________ may be defined as the offering, giving, receiving or soliciting anything of value to influence an official act.
- A. Diverting business to vendors
- B. Corruption
- C. Lacking approval authority
- D. Bribery
Answer: D
NEW QUESTION # 74
One final means of concealing a register scheme, as with many kinds of fraud, is to destroy all records of the transaction.
- A. False
- B. True
Answer: B
Explanation:
Section: Investigation
NEW QUESTION # 75
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 # 76
Bid-rigging scheme occurs when:
- A. an employee once assists a vendor in winning a contract through a single competitive bidding process.
- B. an employee once assists a vendor in winning a contract through a single competitive bidding process.
- C. an employee fraudulently assists a vendor in winning a contract through the competitive bidding process.
- D. an employee does not assist a vendor in winning a contract through the competitive bidding process.
Answer: C
NEW QUESTION # 77
The essential elements of a ________ are an actual or constructive taking away of the goods or property of another with the without the consent and against the will of the owner and with a felonious intent.
- A. None of the above
- B. Fiduciary
- C. Larceny
- D. Abuse
Answer: C
NEW QUESTION # 78
According to fraud tree, cash has three following schemes:
- A. Fraud analysis, skimming and cash misappropriations
- B. Cash larceny, cash distribution and fraudulent disbursements
- C. Skimming, cash larceny and fraudulent disbursements
- D. Cash distribution, skimming and fraud analysis
Answer: C
NEW QUESTION # 79
The person or persons who have access to __________ are often the targets of unethical vendors seeking an advantage in the process.
- A. Sealed bids
- B. General purchasing
- C. Bid-splitting
- D. Tailor specifications
Answer: A
NEW QUESTION # 80
"Anticipate possible losses and omit potential profits", this results in:
- A. Symmetrical accounting
- B. Bearing accounting
- C. Asymmetrical accounting
- D. Playing accounting
Answer: C
NEW QUESTION # 81
_____________ involves purposeful misreporting of financial information about the organization that is intended to mislead those who read it.
- A. Fraudulent statement
- B. None of above
- C. Corruption
- D. Asset misappropriations
Answer: A
NEW QUESTION # 82
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The ACFE CFE (Certified Fraud Examiner) Certification Exam is a globally recognized certification exam that demonstrates an individual’s expertise in the field of fraud detection, investigation, and prevention. The certification is designed for professionals who work in the anti-fraud industry, such as fraud investigators, auditors, law enforcement officers, and lawyers.
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