CFE Financial Transactions and Fraud Schemes Exam Questions

1. CFE Financial Transactions and Fraud Schemes Training Questions Certified Fraud Examiner - Financial Transactions and Fraud Schemes Certified Fraud Examiner - Financial Transactions and Fraud Schemes https://www.passquestion.com/cfe-financial-transactions-and-fraud-schemes.html

2. PassQuestion CFE Financial Transactions and Fraud Schemes Training Questions ensure your 100% success Question 1 One reason employees might be hesitant to use PO boxes in shell company schemes is that One reason employees might be hesitant to use PO boxes in shell company schemes is that some businesses are specially vary of sending checks to vendors that have street addresses only. some businesses are specially vary of sending checks to vendors that have street addresses only. A. True A. True B. False B. False Answer: B Answer: B

3. PassQuestion CFE Financial Transactions and Fraud Schemes Training Questions ensure your 100% success Question 2 Another way to eliminate competition in the solicitation phase of the selection process is to: Another way to eliminate competition in the solicitation phase of the selection process is to: A. Solicit bid from fictitious suppliers A. Solicit bid from fictitious suppliers B. Solicit transaction from fictitious vendors B. Solicit transaction from fictitious vendors C. Solicit bid-splitting from fictitious vendors C. Solicit bid-splitting from fictitious vendors D. None of the above D. None of the above Answer: A Answer: A

4. PassQuestion CFE Financial Transactions and Fraud Schemes Training Questions ensure your 100% success Question 3 _________ assumes the business will go on indefinitely in the future. _________ assumes the business will go on indefinitely in the future. A. Materiality A. Materiality B. Going concern B. Going concern C. Cost C. Cost D. Fair value D. Fair value Answer: B Answer: B

5. PassQuestion CFE Financial Transactions and Fraud Schemes Training Questions ensure your 100% success Question 4 According to SAB 104, for the revenue to be typically considered realized or realizable and According to SAB 104, for the revenue to be typically considered realized or realizable and earned, which of the following criteria is NOT met: earned, which of the following criteria is NOT met: A. Persuasive evidence of an arrangement exists A. Persuasive evidence of an arrangement exists B. Services has been rendered B. Services has been rendered C. Timings have been met C. Timings have been met D. Collectability is reasonably assured D. Collectability is reasonably assured Answer: C Answer: C

6. PassQuestion CFE Financial Transactions and Fraud Schemes Training Questions ensure your 100% success Question 5 The person or persons who have access to __________ are often the targets of unethical The person or persons who have access to __________ are often the targets of unethical vendors seeking an advantage in the process. vendors seeking an advantage in the process. A. Bid-splitting A. Bid-splitting B. Sealed bids B. Sealed bids C. General purchasing C. General purchasing D. Tailor specifications D. Tailor specifications Answer: B Answer: B

7. PassQuestion CFE Financial Transactions and Fraud Schemes Training Questions ensure your 100% success Question 6 A typical issue involving material and fraud would be: A typical issue involving material and fraud would be: A. Fraudulent statement A. Fraudulent statement B. Misappropriations B. Misappropriations C. Civil lawsuit C. Civil lawsuit D. Quality control D. Quality control Answer: B Answer: B

8. PassQuestion CFE Financial Transactions and Fraud Schemes Training Questions ensure your 100% success Question 7 A technique by which checks are numbered using a new technique that is revealed by a colored highlighter A technique by which checks are numbered using a new technique that is revealed by a colored highlighter pen or by a bright light held behind the check is called: pen or by a bright light held behind the check is called: A. Microline numbering A. Microline numbering B. Holographic safety border B. Holographic safety border C. Embossed pearlescent numbering C. Embossed pearlescent numbering D. None of the above D. None of the above Answer: B Answer: B

9. PassQuestion CFE Financial Transactions and Fraud Schemes Training Questions ensure your 100% success Question 8 ___________ is to allow the owner, investors, creditors and others with an interest to know ___________ is to allow the owner, investors, creditors and others with an interest to know the appropriate book worth of the business at a particular date. the appropriate book worth of the business at a particular date. A. Equity A. Equity B. Balance sheet B. Balance sheet C. Income statement C. Income statement D. Financial record D. Financial record Answer: B Answer: B

10. PassQuestion CFE Financial Transactions and Fraud Schemes Training Questions ensure your 100% success Question 9 Which of the following search is used for unusually high incidence of returns and allowances Which of the following search is used for unusually high incidence of returns and allowances scheme? scheme? A. Allowances by vendors A. Allowances by vendors B. Disposals of allowances than reorders B. Disposals of allowances than reorders C. Returns and allowances C. Returns and allowances D. None of the above D. None of the above Answer: C Answer: C

11. PassQuestion CFE Financial Transactions and Fraud Schemes Training Questions ensure your 100% success Question 10 The amount of cash on hand in a register may be compared to the amount showing in the The amount of cash on hand in a register may be compared to the amount showing in the register tape in order to detect _______. register tape in order to detect _______. A. Employee theft A. Employee theft B. Recorded sales B. Recorded sales C. Internal audits C. Internal audits D. Occupational frauds D. Occupational frauds Answer: A Answer: A