[Sep-2022] Exam Sure Pass ACFE Certification with CFE exam questions
Real ACFE CFE Exam Questions Study Guide
Patriotic reasons
As a Kenyan patriot, it is your responsibility to equip yourself with CFE skills so that you can play a role in President Uhuru's Big 4 program. As a CFE, you can play a role in ensuring that the misappropriation of public and private resources is reduced. The Big 4 builds on reports from investigative and judicial agencies such as the Office of the Director of Public Prosecutors (ODPP), the Office of the Director of Criminal Investigations (DCI), the Office of the Ethics and Anti-Corruption Commission (OEACC), among the others
NEW QUESTION 97
In which of the following process, all bidders are legally supposed to be placed on the same plane of equality, bidding on the same terms and conditions?
- A. Kickbacks
- B. Bid solicitation
- C. Bid-rigging
- D. Competitive bidding
Answer: D
NEW QUESTION 98
Employees with the authority to grant discounts in order to skim revenues may use which authority?
- A. None of the above
- B. Internal discount sales audits
- C. Recording a discount on sale procedure
- D. False discounts
Answer: D
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 99
Which of the following are the classifications for the Corruption?
- A. Corruption, bribery, economic extortion, conflicts of interest
- B. economic extortion, bribery, illegal gratuities and corruption
- C. Bribery, economic extortion, illegal gratuities and conflicts of interest
- D. Overbilling, bribery, bid-ridding and illegal gratuities
Answer: C
NEW QUESTION 100
The act of an official or fiduciary person who unlawfully and wrongfully uses his station or character to procure some benefit, contrary to duty and rights of others is called:
- A. Overbilling
- B. Bribery
- C. Corruption
- D. Conflict of interest
Answer: C
NEW QUESTION 101
Conflict of interest cases are more easily prevented than detected.
- A. True
- B. False
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 102
The more power a person has over the bidding process, the more likely the person can influence the selection of a supplier.
- A. True
- B. False
Answer: A
NEW QUESTION 103
The prime targets for skimming schemes which are hard to monitor and predict such as late fees and parking fees, are:
- A. Revenue sources
- B. Register manipulations
- C. Recorded sales
- D. Internal audits
Answer: A
NEW QUESTION 104
Which check tampering red flag may indicate employees have embezzled cash and charged the embezzlement to expense accounts?
- A. Missing checks
- B. Payable checks
- C. Duplicate checks
- D. Voided checks
Answer: A
Explanation:
Section: Investigation
NEW QUESTION 105
People commit financial statement fraud to:
- A. Maintain personal income
- B. Stand outside the accounting system
- C. Conceal false business performances
- D. Preserve personal status/control
Answer: D
NEW QUESTION 106
_________ revenues involve the recording sales of goods or services hat did not occur.
- A. Concealed revenues
- B. Fictitious or fabricated revenues
- C. Red flag revenues
- D. Financial revenues
Answer: B
Explanation:
Section: Financial Transactions and Fraud Schemes
Explanation
NEW QUESTION 107
A running count that records how much inventory should be on hand is referred to:
- A. Altered inventory
- B. Fictitious inventory
- C. Shrinking inventory
- D. Perpetual inventory
Answer: D
NEW QUESTION 108
"Anticipate possible losses and omit potential profits", this results in:
- A. Asymmetrical accounting
- B. Symmetrical accounting
- C. Playing accounting
- D. Bearing accounting
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 109
The prime targets for skimming schemes which are hard to monitor and predict such as late fees and parking fees, are:
- A. Revenue sources
- B. Register manipulations
- C. Recorded sales
- D. Internal audits
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
Explanation/Reference:
NEW QUESTION 110
Which are check tempering frauds in which an employee prepares a fraudulent check and submits it usually along with legitimate checks to an authorized maker who signs it without a proper review?
- A. Concealed check scheme
- B. Endorse check scheme
- C. Payable check scheme
- D. Legitimate check scheme
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 111
What is sometimes used to overcome well-designed internal controls of a victim company?
- A. Shell company
- B. Fraudulent invoices
- C. Rubber stamp supervisors
- D. Collusion
Answer: D
NEW QUESTION 112
In Cressey's fraud triangle, its three of the legs are Opportunity, Pressure and
- A. None of the above
- B. Isolation
- C. Rationalization
- D. Violation
Answer: C
NEW QUESTION 113
Physical assets including _________ and ________ are the most commonly
misappropriated noncash asset in our study.
- A. Inventory & Purchase
- B. Interest & Collusion
- C. Sales & Equipment
- D. Inventory & Equipment
Answer: D
NEW QUESTION 114
________ increase assets and expenses and/or decrease liabilities and/or equity
- A. None of all
- B. Debit
- C. Journal Entries
- D. Credit
Answer: B
NEW QUESTION 115
____________ is a process by which a bookkeeper records all transactions and can adjust the books.
- A. None of all
- B. Journal Entries
- C. Accounting Cycle
- D. Financial statement
Answer: B
NEW QUESTION 116
What is sometimes used to overcome well-designed internal controls of a victim company?
- A. Shell company
- B. Fraudulent invoices
- C. Rubber stamp supervisors
- D. Collusion
Answer: D
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 117
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Topics of ACFE CFE Certification Exam
Candidates must know the exam topics before they start of preparation. Because it will really help them in hitting the core. Our ACFE CFE exam dumps will include the following topics:
- Imbursement and Disbursement Fraud
- Fraudulent Program Prevention Schemes
- Insurance Fraud
- Sources of Information
- Inventory and Other Properties
- Locating Illicit Transactions
- Computer and Cyber Fraud
- Identity Theft
- Bribery and Corruption
- Digital Forensics
- Consumer Fraud
- Contract and Procurement Fraud
- Conducting and Planning a Fraud Examination
- Finance Organizational Fraud
- Covert Examinations
- Cash-Receipts Schemes
- Commercial Document Fraud
- Data Reporting Tools and Analysis
- Investigating Documents
- Accounting Theories
- Medical Management Fraud
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