CFE Dumps with Free 365 Days Update Fast Exam Updates

Verified CFE dumps Q&As - 2024 Latest CFE Download

NEW QUESTION # 113
A person is said to be in ________ act, when the business which he transacts, or the money or property which he handles, is not for his own benefit, but for another person:

• A. Embezzlement
• B. Fiduciary Capacity
• C. None of the above
• D. Conversion

Answer: B

NEW QUESTION # 114
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. material value
• B. Cost value
• C. Fair value
• D. Absolute value

Answer: C

NEW QUESTION # 115
_________ revenues involve the recording sales of goods or services hat did not occur.

• A. Concealed revenues
• B. Fictitious or fabricated revenues
• C. Red flag revenues
• D. Financial revenues

Answer: B

NEW QUESTION # 116
In Cressey's fraud triangle, its three of the legs are Opportunity, Pressure and

• A. Isolation
• B. Violation
• C. None of the above
• D. Rationalization

Answer: D

Explanation:
Section: Fraud Prevention and Deterrence

NEW QUESTION # 117
The principal way to detect omitted credits from books of account is through:

• A. Forced Balance
• B. None of all
• C. Trend analysis
• D. Expense account

Answer: C

Explanation:
Section: Fraud Prevention and Deterrence

NEW QUESTION # 118
The person or persons who have access to __________ are often the targets of unethical vendors seeking an advantage in the process.

• A. Bid-splitting
• B. General purchasing
• C. Sealed bids
• D. Tailor specifications

Answer: C

Explanation:
Section: Fraud Prevention and Deterrence

NEW QUESTION # 119
___________ and __________ are used to increase (or decrease) the equity account.

• A. Journal Entries & Debit
• B. Journal Entries & Credit
• C. None of all
• D. Journal Entries & transactions

Answer: D

NEW QUESTION # 120
_________ assumes the business will go on indefinitely in the future.

• A. Going concern
• B. Fair value
• C. Materiality
• D. Cost

Answer: A

Explanation:
Section: Financial Transactions and Fraud Schemes

NEW QUESTION # 121
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. All of the above
• B. Fake sales
• C. Asset requisition
• D. Inventory usages

Answer: C

NEW QUESTION # 122
__________ are the amounts which are owned to other entities:

• A. Liabilities
• B. Expenses
• C. Supplies
• D. Assets

Answer: A

NEW QUESTION # 123
Asset misappropriations have an effect on the liabilities and do also have an indirect effect on the equity account.

• A. False
• B. True

Answer: A

NEW QUESTION # 124
In which approach, fraudsters produce whatever financial statements they wish, perhaps using just a typewriter or a personal computer.

• A. Beating accounting
• B. Playing the accounting
• C. Organized accounting
• D. Outside accounting system

Answer: D

Explanation:
Section: Financial Transactions and Fraud Schemes

NEW QUESTION # 125
When a victim company purchases unnecessary goods or services from a supplier at the direction of the corrupt employee, this results in:

• A. Presolicitation scheme
• B. Submission scheme
• C. False sole-source scheme
• D. Need recognition scheme

Answer: D

NEW QUESTION # 126
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. Equity
• B. Expense
• C. Balance sheet
• D. Financial record

Answer: B

NEW QUESTION # 127
A fabricated name and the post office box that an employee uses to collect disbursements from false billings is called:

• A. Shell company
• B. Cash generator
• C. Perpetrator check
• D. Accomplice residence

Answer: A

NEW QUESTION # 128
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. Legitimate check scheme
• B. Endorse check scheme
• C. Concealed check scheme
• D. Payable check scheme

Answer: C

Explanation:
Section: Fraud Prevention and Deterrence

NEW QUESTION # 129
Financial statement fraud is committed by:

• A. All of the above
• B. Organized criminals
• C. Senior Management
• D. Mid and lower level employees

Answer: A

NEW QUESTION # 130
A ___________ occurs when an employee, manager or executive has an undisclosed economic or personal interest in a transaction that adversely affects the organization.

• A. Conflict of interest
• B. Unauthorized purchase
• C. Financial disclosure
• D. Illegal sale

Answer: A

Explanation:
Section: Fraud Prevention and Deterrence

NEW QUESTION # 131
Another way to eliminate competition in the solicitation phase of the selection process is to:

• A. Solicit transaction from fictitious vendors
• B. Solicit bid from fictitious suppliers
• C. None of the above
• D. Solicit bid-splitting from fictitious vendors

Answer: B

NEW QUESTION # 132
In which approach, fraudsters produce whatever financial statements they wish, perhaps using just a typewriter or a personal computer.

• A. Beating accounting
• B. Playing the accounting
• C. Organized accounting
• D. Outside accounting system

Answer: D

NEW QUESTION # 133
......

ACFE CFE exam covers a wide range of topics related to fraud, including fraud investigation techniques, financial transactions and reporting, legal issues related to fraud, and fraud prevention strategies. Candidates who pass the exam are recognized as experts in the field of fraud detection and prevention.

ACFE CFE Certification Exam is designed to test the candidates on their knowledge and expertise in various areas of fraud examination, including fraud prevention and deterrence, financial transactions and fraud schemes, investigation techniques, legal elements of fraud, and fraud reporting. CFE exam is divided into four sections, and the candidates have to pass all sections to be awarded the certification. CFE exam is computer-based and consists of 500 multiple-choice questions, which the candidates have to complete in a four-hour time limit. The ACFE CFE Certification Exam is considered as one of the most challenging exams in the industry, and passing it requires dedication, hard work, and extensive preparation.

 

Updated ACFE Study Guide CFE Dumps Questions: https://troytec.examstorrent.com/CFE-exam-dumps-torrent.html