ACFE Certified Fraud Examiner - CFE Exam Practice Test
Inventory shrinkage is the unaccounted-for reduction in the company's inventory that does not results from theft.
Correct Answer: A
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Which of the following can constitute a bribe, even if the illicit payment is never actually made?
Correct Answer: B
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Which of the following search is used for unusually high incidence of returns and allowances scheme?
Correct Answer: D
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When employees avoid detection in a refund scheme to keep the sizes of the disbursement law, is referred to:
Correct Answer: A
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_________ revenues involve the recording sales of goods or services hat did not occur.
Correct Answer: A
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________ decrease assets and expenses and/or increase liabilities and/or equity
Correct Answer: B
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Which of the following method is NOT used to detect conflicts of interest?
Correct Answer: D
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A shell company scheme in which actual goods or services are sold to the victim company is known as:
Correct Answer: C
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Asset misappropriation schemes were the "middle children" of the study; they were more common than fraudulent statements and more costly than corruption.
Correct Answer: A
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A variation between the physical inventory and the perpetual inventory totals is called:
Correct Answer: A
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Persuasive evidence of an arrangement does not exist when:
Correct Answer: D
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Fill in Blank
The _______________ cost method of pricing would carry an asset's value on the financial statements as what it would currently cost, considering inflation.
The _______________ cost method of pricing would carry an asset's value on the financial statements as what it would currently cost, considering inflation.
Correct Answer:
Price-level adjusted historical cost
Which of the following is NOT the example of bribery prevention policies?
Correct Answer: D
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