Which of the following is not true regarding the ACFE.

Which of the following is not true regarding the ACFE.

a. It is the largest anti fraud organization in the world.
b. It has roughly 12,000 members throughout the world.
c. The entire organization is dedicated to the prevention of fraud.
d. It is the premier provider of anti fraud training.

Answer: B

Which of the following is required to become a CFE?

Which of the following is required to become a CFE?

a. An individual must commit to abide by a strict code of professional conduct and ethics.
b. Be an associate member, in good standing, of the ACFE.
c. Be of high moral character.
d. All of the above.

Answer: D

"Deceptive manipulation of financial statements" describes which kind of fraud?

"Deceptive manipulation of financial statements" describes which kind of fraud?

A. Management fraud
B. Criminal fraud
C. Stock market fraud
D. Bookkeeping fraud

Answer: A

Which of the following is not an example of vendor fraud?

Which of the following is not an example of vendor fraud?

A. A vendor overcharges for a contracting job which it completed on time
B. A vendor bills for services not performed
C. A vendor bills for goods not provided
D. A vendor has much higher prices than its competitors

Answer: D

Which of the following is not an example of employee embezzlement?

Which of the following is not an example of employee embezzlement? 

A. Land conservation employees stealing chain saws
B. Checkout cashiers stealing money from the cash register
C. Angry employees vandalizing the building with spray paint
D. Salespeople overcharging for products and pocketing the excess cash

Answer: C

Fraud fighting includes what type of careers?

Fraud fighting includes what type of careers? 

A. Professors
B. Lawyers
C. CPA firs
D. All of the above

Answer: D

Civil law performs which of the following functions?

Civil law performs which of the following functions? 

A. Remedy for violation of private rights
B. Remedy for violations against society as a whole
C. Punishment for guilt "beyond reasonable doubt"
D. Monetary reimbursement for federal charges

Answer: A

Which of the following is not a form of vendor fraud?

Which of the following is not a form of vendor fraud? 

A. Overcharge for purchased goods
B. Shipment of inferior goods
C. Non Shipment of goods even though payment is made
D. Not paying for goods purchased

Answer: D

Which of the following is not a fraud type?

Which of the following is not a fraud type? 

A. Direct employee embezzlement
B. Indirect employee embezzlement
C. Supervisor fraud
D. Investment scams

Answer: C

Which of the following characters is least likely to be involved in a fraud?

Which of the following characters is least likely to be involved in a fraud? 

A. Middle-aged person who has a middle management position
B. A long-haired teenager wearing leather pants
C. Recent college graduate
D. Senior executives who have obtained stock options

Answer: B

What is the most important element in successful fraud schemes?

What is the most important element in successful fraud schemes?

A. Promised benefits
B. Confidence in the perpetrator
C. Profitable activities
D. Complexity

Answer: B

What is the best way to minimize fraud within an organization?

What is the best way to minimize fraud within an organization? 

A. Detection of fraud
B. Investigation of fraudulent behavior
C. Prevention activities
D. Research company activities

Answer: C

Which of the following is not an element of fraud?

Which of the following is not an element of fraud? 

A. False representation
B. Accidental behavior
C. Damage to a victim
D. Intentional or reckless behavior

Answer: B

Which of the following statements is true?

Which of the following statements is true? 

A. Bank robberies are more costly than frauds
B. Fraud is often labeled the fastest growing crime
C. FBI agencies are currently spending approximately 35% of their time on fraudulent activities

Answer: B

Which of the following is not a reliable resource for fraud statistics?

Which of the following is not a reliable resource for fraud statistics? 

A. FBI agencies
B. Health agencies
C. Insurance organizations
D. Fraud perpetrators

Answer: D

Studying fraud will help you to:

Studying fraud will help you to: 

A. Learn evidence-gathering skills
B. Avoid high-risk and fraudulent activities
C. Learn valuable interviewing skills
D. All of the above

Answer: D

Future careers in fraud will most likely be:

Future careers in fraud will most likely be: 

A. In low demand
B. In about the same demand as now
C. Low paying
D. In higher demand and financially rewarding

Answer: D

Which of the following is not true of civil fraud?

Which of the following is not true of civil fraud? 

A. It usually begins when one party files a complaint.
B. The purpose is to compensate for harm done to another
C. It must be heard by 12 jurors
D. Only "the preponderance of the evidence" is needed for the plaintiff to be successful.

Answer: C

Investment scams most often include:

Investment scams most often include: 

A. An action by top management against employees.
B. Worthless investments or assets sold to unsuspecting investors.
C. An overcharge for purchased goods.
D. Nonpayment of invoices for goods purchased by customers.

Answer: B

Corporate employee fraud fighters:

Corporate employee fraud fighters: 

A. Work as postal inspectors and law enforcement officials.
B. Prevent, detect, and investigate fraud within a company.
C. Are lawyers the defend and/or prosecute fraud cases.
D. None of the above.

Answer: B