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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Fraud Investigation and Analysis | - Evidence collection and documentation
|
| Topic 2: Financial Crimes | - Banking and Payment Fraud
|
| Topic 3: Fraud Schemes | - Financial Statement Fraud
|
ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:
1. Forced reconciliation of the account says:
A) To conceal inventory is to alter shrinkage record so that it matches the physical inventory count.
B) To conceal shrinkage is to alter inventory record so that it matches the physical inventory count.
C) To conceal write-offs is to change the perpetual inventory record so that it matches the physical inventory count.
D) To conceal shrinkage is to change the perpetual inventory record so that it matches the physical inventory count.
2. The scheme in which the same vendor is receiving favorable treatment can be found in purchases by vendor searches.
A) True
B) False
3. Which of the following elements is required for a contract, transaction, or scheme to qualify as an investment contract?
A) The investment must have been made with cash.
B) The investment resulted in profits solely due to the investor's own management efforts.
C) The investment is in a common enterprise.
D) The investment was witnessed by a notary at the time it was made or entered into.
4. Which of the following is an example of a cash larceny scheme ?
A) Scott performs a No-Sale transaction on the cash register, opens the register drawer, and takes a $100 bill.
B) Anne buys a $500 table from a shop. Olive, the cashier, records a $400 sale on the cash register and steals the excess $100.
C) Laura pretends to record a sale on the cash register when Amy makes a purchase, but she steals Amy's cash instead and gives her the merchandise without recording the sale.
D) Michael is a cashier at a store. He records a fictitious return of a $50 jacket and takes $50 from the cash register.
5. Which of the following actions would constitute intellectual property theft?
A) A corporate agent accesses a competitor's computer network and obtains files that discuss the competitor's future pricing strategy.
B) A corporate agent submits false invoices to an accounts payable employee at a competing organization to obtain payment for services that were not rendered.
C) A corporate agent encourages a friend who works in research and development at a competing organization to apply for a position at the agent's company.
D) A corporate agent reviews open-source information about a competitor to gather data on its financial performance during the previous year.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: A |
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