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NEW QUESTION # 94
CORRECT TEXT
One of the simplest ways to justify unacceptable conduct and avoid guilt feelings is to invent a good reason for ________.
Answer:
Explanation:
Pending
NEW QUESTION # 95
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. Submission
- C. Solicitation
- D. Need recognition
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 96
Asset misappropriation schemes were the "middle children" of the study; they were more common than fraudulent statements and more costly than corruption.
- A. True
- B. False
Answer: B
NEW QUESTION # 97
A fabricated name and the post office box that an employee uses to collect disbursements from false billings is called:
- A. Perpetrator check
- B. Accomplice residence
- C. Shell company
- D. Cash generator
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
Explanation
NEW QUESTION # 98
Employees with the authority to grant discounts in order to skim revenues may use which authority?
- A. None of the above
- B. Recording a discount on sale procedure
- C. False discounts
- D. Internal discount sales audits
Answer: C
NEW QUESTION # 99
Organizations that had external audits actually had higher median losses and longer lasting fraud schemes than those organizations that were not audited.
- A. False
- B. True
Answer: B
NEW QUESTION # 100
Delivery has not occurred or services have not been rendered when:
- A. Both A & B
- B. A written order exists but contains a right of return.
- C. Neither A nor B
- D. Until installation and customer testing and acceptance has occurred.
Answer: B
NEW QUESTION # 101
___________ and __________ are used to increase (or decrease) the equity account.
- A. None of all
- B. Journal Entries & Credit
- C. Journal Entries & transactions
- D. Journal Entries & Debit
Answer: C
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 102
If the assets are intentionally purchased by the company but simply misappropriated by the fraudster, this is referring to as:
- A. Falsify shipping
- B. Asset receiving scheme
- C. Inventory larceny scheme
- D. Fraudulent purchase
Answer: C
NEW QUESTION # 103
In ___________ scheme, an employee creates false vouchers or submits false invoices to the employer.
- A. Purchase requisition
- B. Voucher handling
- C. Sale requisition
- D. Cash generating
Answer: D
NEW QUESTION # 104
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. Inventory usages
- D. Asset requisition
Answer: D
NEW QUESTION # 105
When a victim company purchases unnecessary goods or services from a supplier at the direction of the corrupt employee, this results in:
- A. Need recognition scheme
- B. False sole-source scheme
- C. Presolicitation scheme
- D. Submission scheme
Answer: A
NEW QUESTION # 106
In ____________ scheme, a supplier pays an employee of the purchasing company to write specifications that will require amendments at a later date.
- A. False specification
- B. Deliberate writing of vague specifications
- C. Bid-splitting
- D. Need recognition
Answer: B
NEW QUESTION # 107
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. True
- B. False
Answer: B
NEW QUESTION # 108
Delivery has not occurred or services have not been rendered when:
- A. Both A & B
- B. A written order exists but contains a right of return.
- C. Neither A nor B
- D. Until installation and customer testing and acceptance has occurred.
Answer: B
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 109
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. Going concern
- B. Cost
- C. Fair value
- D. Net realizable value
Answer: D
NEW QUESTION # 110
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ACFE CFE (Certified Fraud Examiner) Exam is a professional certification that is designed to help individuals become experts in the field of fraud examination. Certified Fraud Examiner certification is offered by the Association of Certified Fraud Examiners (ACFE), which is the world's largest anti-fraud organization. The ACFE CFE Exam is a globally recognized certification that validates an individual's expertise in detecting and preventing fraud.
The Certified Fraud Examiner (CFE) Certification Exam is a globally recognized certification offered by the Association of Certified Fraud Examiners (ACFE). The ACFE is the world's largest anti-fraud organization, and the CFE certification is recognized as the standard for excellence in the anti-fraud profession. The CFE exam is designed to test the knowledge, skills, and abilities of professionals who are interested in preventing, detecting, and investigating fraud.
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