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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Financial Crimes | - Money Laundering
|
| Fraud Schemes | - Asset Misappropriation Schemes
|
ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:
By what accountant means that the financial figures presented by the company are at least as much as reflected in the statements, if not more.
- A. Matching
- B. Fraudulent statement
- C. Misappropriations
- D. Conservatism
Correct Answer: D 🗳️
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Which of the following is a common way that dishonest contractors collude to evade the competitive bidding process?
- A. Using different publications to publish their bid solicitations
- B. Submitting bids on fake contracts to give the appearance of genuine competition
- C. Submitting invoices for work that was not performed on joint projects
- D. Arranging an agreement with competitors to divide and allocate markets
Correct Answer: D 🗳️
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Henrietta works at XYZ Corporation, managing one of several large facilities. Henrietta conspires with a local contractor who offers highly specialized pest control services for an invasive species of beetle. Henrietta creates false reports of beetle sightings at her facility and presents them to XYZ management, convincing them to procure the services of the local contractor. In exchange for the business, Henrietta receives a sum of money from the contractor. Henrietta is MOST LIKELY engaging in which of the following procurement fraud schemes?
- A. Nonconforming services
- B. Need recognition
- C. Bid manipulation
- D. Bid tailoring
Correct Answer: B 🗳️
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Bob, a purchasing agent for Gallenkamp, directed a portion of Gallenkamp's business to Oak Company. In exchange for receiving additional business, Oak Company's sales manager agreed to pay Bob a percentage of the extra profits. Which of the following BEST describes the type of corruption scheme in which Bob engaged?
- A. Illegal gratuity scheme
- B. Economic extortion scheme
- C. Kickback scheme
- D. Diversion scheme
Correct Answer: C 🗳️
Explanation: Only visible for DumpExam members. You can sign-up / login (it's free).
_________ revenues involve the recording of sales of goods or services that did not occur.
- A. Financial revenues
- B. Red flag revenues
- C. Concealed revenues
- D. Fictitious or fabricated revenues
Correct Answer: D 🗳️
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