Updated Sep 13, 2023 CFE Exam Dumps - PDF Questions and Testing Engine
New (2023) ACFE CFE Exam Dumps
The Association of Certified Fraud Examiners (ACFE) is a professional organization dedicated to the prevention, detection, and deterrence of fraud. The ACFE offers a variety of resources, including training, research, and certification programs, to help professionals in the field of fraud prevention and investigation. One of the most prestigious certifications offered by the ACFE is the Certified Fraud Examiner (CFE) designation.
NEW QUESTION # 36
According to Marshall, ______ are probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events.
- A. Assets
- B. None of above
- C. Credentials
- D. Liabilities
Answer: A
NEW QUESTION # 37
In which approach, fraudsters produce whatever financial statements they wish, perhaps using just a typewriter or a personal computer.
- A. Outside accounting system
- B. Playing the accounting
- C. Organized accounting
- D. Beating accounting
Answer: A
NEW QUESTION # 38
Depreciation is especially applicable when companies try to overvalue their assets and net worth; the lower their depreciation expense, the higher the company's profits.
- A. False
- B. True
Answer: B
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 39
Most of the shell company schemes involve the purchase of goods rather than services.
- A. False
- B. True
Answer: A
NEW QUESTION # 40
How many accounts are affected in fraudulent accounting entries and therefore same number of categories on the financial statement?
- A. More than two
- B. One
- C. At least two
- D. None of above
Answer: B
NEW QUESTION # 41
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. Endorse check scheme
- B. Payable check scheme
- C. Legitimate check scheme
- D. Concealed check scheme
Answer: D
NEW QUESTION # 42
The scheme which reduces victim companies to issue fraudulent payments for goods or services that they have not received is called:
- A. Bogus claims
- B. Misappropriate claims
- C. Reliance billing
- D. Billing scheme
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 43
Most of the shell company schemes involve the purchase of goods rather than services.
- A. False
- B. True
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 44
Skimming cases can more likely to be detected by:
- A. Internal controls
- B. occupational frauds
- C. Accidents
- D. Internal audits
Answer: C
NEW QUESTION # 45
Larceny by Fraud or deception means that:
- A. Fails to correct a false impression
- B. Fails to disclose a known lien, adverse claim or other legal impediment
- C. All of the above
- D. Creates or reinforce a false impression
Answer: C
NEW QUESTION # 46
A fabricated name and the post office box that an employee uses to collect disbursements from false billings is called:
- A. Accomplice residence
- B. Perpetrator check
- C. Cash generator
- D. Shell company
Answer: D
NEW QUESTION # 47
CORRECT TEXT
One of the simplest ways to justify unacceptable conduct and avoid guilt feelings is to invent a good reason for ________.
Answer:
Explanation:
Pending
NEW QUESTION # 48
Entering a sales total lower than the amount actually paid by the customer is called:
- A. All of the above
- B. Internal sales audits
- C. Recording a sale procedure
- D. Underrings a sale
Answer: D
NEW QUESTION # 49
A shell company scheme in which actual goods or services are sold to the victim company is known as:
- A. Maintenance scheme
- B. Pass-through scheme
- C. Allocation scheme
- D. Distribution scheme
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 50
The person or persons who have access to __________ are often the targets of unethical vendors seeking an advantage in the process.
- A. Bid-splitting
- B. Tailor specifications
- C. Sealed bids
- D. General purchasing
Answer: C
NEW QUESTION # 51
A shell company scheme in which actual goods or services are sold to the victim company is known as:
- A. Maintenance scheme
- B. Pass-through scheme
- C. Allocation scheme
- D. Distribution scheme
Answer: B
NEW QUESTION # 52
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 change the perpetual 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 alter inventory record so that it matches the physical inventory count.
Answer: B
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 53
"Anticipate possible losses and omit potential profits", this results in:
- A. Symmetrical accounting
- B. Bearing accounting
- C. Playing accounting
- D. Asymmetrical accounting
Answer: D
NEW QUESTION # 54
Which of the following search is used for unusually high incidence of returns and allowances scheme?
- A. Allowances by vendors
- B. Disposals of allowances than reorders
- C. None of the above
- D. Returns and allowances
Answer: D
NEW QUESTION # 55
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ACFE CFE Certification Exam is an essential certification for professionals in the anti-fraud industry. CFE exam tests the knowledge, skills, and abilities that are necessary for fraud examiners to effectively detect, investigate, and prevent fraud. Becoming a CFE demonstrates a high level of expertise and knowledge in the field, and can open up new career opportunities for individuals in the anti-fraud industry.
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
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