CFE-Financial-Transactions-and-Fraud-Schemes PDF Exam Material 2021 Realistic CFE-Financial-Transactions-and-Fraud-Schemes Dumps Questions
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NEW QUESTION 74
Collusion or bid-rigging between bidders is called
- A. Contract acceptance
- B. To withdraw low bids
- C. Bid solicitation
- D. Bribery receipt
Answer: A
NEW QUESTION 75
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 log
- B. Bid opening
- C. Fictitious Bidding
- D. Bid pooling
Answer: D
NEW QUESTION 76
When situational pressures and perceived opportunities are low and personal integrity is high, occupational fraud is much more likely to occur than when the opposite is true.
- A. False
- B. True
Answer: A
NEW QUESTION 77
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. Payable check scheme
- B. Endorse check scheme
- C. Concealed check scheme
- D. Legitimate check scheme
Answer: C
NEW QUESTION 78
________, one of the Fraud synonyms implies that deceiving so thoroughly as to obscure the truth:
- A. Beguile
- B. Mislead
- C. Delude
- D. Deceive
Answer: C
NEW QUESTION 79
Which of the following is NOT standard of generally accepted accounting principles?
- A. Cost
- B. Quality control
- C. Full disclosure
- D. Conservatism
Answer: B
NEW QUESTION 80
Entering a sales total lower than the amount actually paid by the customer is called:
- A. All of the above
- B. Internal sales audits
- C. Underrings a sale
- D. Recording a sale procedure
Answer: C
NEW QUESTION 81
__________ inventory and other assets is relatively common way for fraudsters to remove assets from the books before or after they are stolen.
- A. False shipping slip
- B. Perpetual
- C. Altered
- D. Write-offs
Answer: A
NEW QUESTION 82
Which of the following is NOT the example of bribery prevention policies?
- A. Business meetings
- B. Resource diversions
- C. Reporting gifts
- D. Discounts
Answer: B
NEW QUESTION 83
A fabricated name and the post office box that an employee uses to collect disbursements from false billings is called:
- A. Shell company
- B. Accomplice residence
- C. Cash generator
- D. Perpetrator check
Answer: A
NEW QUESTION 84
Fraudsters use the accounting system as a tool to generate the results they want in ___________ approach:
- A. All of the above
- B. beating accounting
- C. Playing the accounting
- D. Organized accounting
Answer: C
NEW QUESTION 85
____________ is a process by which a bookkeeper records all transactions and can adjust the books.
- A. None of all
- B. Journal Entries
- C. Financial statement
- D. Accounting Cycle
Answer: B
NEW QUESTION 86
The principal way to detect omitted credits from books of account is through:
- A. Trend analysis
- B. None of all
- C. Forced Balance
- D. Expense account
Answer: A
NEW QUESTION 87
Theft of incoming checks usually occurs when ________ is (are) in charge of opening the mail and recording the receipt of payments.
- A. Two employees
- B. None of the above
- C. More then two employees
- D. Single employee
Answer: D
NEW QUESTION 88
Which of the following is NOT the method for stealing inventory and other assets?
- A. Asset requisition and transfer
- B. Sales & Equipment handling
- C. Larceny schemes
- D. Purchasing and receiving schemes
Answer: B
NEW QUESTION 89
A shell company scheme in which actual goods or services are sold to the victim company is known as:
- A. Distribution scheme
- B. Maintenance scheme
- C. Pass-through scheme
- D. Allocation scheme
Answer: C
NEW QUESTION 90
Statistical sampling enables the examiner to predict the occurrence rate for the population and therefore determine with some accuracy the error rate, or the potential for fraud.
- A. False
- B. True
Answer: B
NEW QUESTION 91
In Cressey's fraud triangle, its three of the legs are Opportunity, Pressure and
- A. Rationalization
- B. None of the above
- C. Isolation
- D. Violation
Answer: A
NEW QUESTION 92
____________ is a summary of the account balances carried in a ledger.
- A. Balance sheet
- B. General journal
- C. Financial statement
- D. Income statement
Answer: C
NEW QUESTION 93
A __________ is a day-by-day, or chronological, record of transactions
- A. Ledger
- B. Checkbook
- C. Journal
- D. Asset
Answer: C
NEW QUESTION 94
Physical tampering prevention is a check tampering technique that is used to secure bankassisted controls.
- A. False
- B. True
Answer: A
NEW QUESTION 95
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