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ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:

1. Persuasive evidence of an arrangement does not exist when:

A) Timings not meet properly.
B) Revenue and corresponding expenses don't match each other.
C) Capitalized expenses and Liabilities will not be up to satisfied level.
D) No written or verbal agreement exists.


2. Which of the following search is used for unusually high incidence of returns and allowances scheme?

A) Allowances by vendors
B) None of the above
C) Disposals of allowances than reorders
D) Returns and allowances


3. ______________ is required not only for theft, but for procedures to detect errors, avoid waste, and ensure a proper amount of inventory is maintained.


4. George, a 71-year-old man, receives a fraudulent message on his computer stating that his computer has been infected by a virus. When George calls the phone number listed on the message, he speaks with a fraudster who charges him for computer repair services that are unnecessary. George has MOST LIKELY been victimized by which of the following schemes?

A) Smishing
B) Bait and switch scheme
C) Pharming
D) Tech-support scheme


5. Which of the following measures would be MOST EFFECTIVE in preventing a skimming scheme?

A) Comparing sales records to the amount of cash that is received
B) Reviewing the amount of time between when cash is initially received and deposited
C) Separating the duties of collecting cash and accessing the accounts receivable journal
D) Implementing regular rotation of employee job responsibilities


Solutions:

Question # 1
Answer: D
Question # 2
Answer: D
Question # 3
Answer: Only visible for members
Question # 4
Answer: D
Question # 5
Answer: C

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