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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:

SectionObjectives
Topic 1: Fraud Schemes- Asset Misappropriation Schemes
  • 1. Skimming and cash larceny
    • 2. Billing and expense reimbursement fraud
      - Financial Statement Fraud
      • 1. Revenue recognition manipulation
        • 2. Asset overstatement and liability concealment
          Topic 2: Financial Crimes- Banking and Payment Fraud
          • 1. Wire fraud and electronic transfers
            • 2. Check and credit card fraud
              - Money Laundering
              • 1. Placement, layering, integration stages
                Topic 3: Fraud Investigation and Analysis- Data analysis in fraud detection
                • 1. Trend and anomaly identification
                  - Evidence collection and documentation
                  • 1. Chain of custody principles

                    ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:

                    Which of the following methods might a procuring employee use to engage in a bid manipulation scheme?

                    • A. Using materials that are low quality
                    • B. Charging for costs that are not permissible
                    • C. Disqualifying bids that are submitted correctly
                    • D. Opening the bidding process at the designated time
                    Reveal Solution  Discussion  0

                    Correct Answer: C  🗳️

                    Explanation: Only visible for Actual4dump members. You can sign-up / login (it's free).

                    The Financial Action Task Force (FATF) Recommendations suggest that countries should take which of the following measures?

                    • A. Refrain from conducting business with other countries unless they comply with the anti-money laundering recommendations.
                    • B. Require financial institutions to monitor their customers' public profiles and social media activity for indicators of money laundering.
                    • C. Create financial intelligence units (FIUs) and require financial institutions and other high-risk industries to report suspicious activity to them.
                    • D. Impose a sentence of three years of imprisonment for all money laundering and terrorist financing convictions.
                    Reveal Solution  Discussion  0

                    Correct Answer: C  🗳️

                    Explanation: Only visible for Actual4dump members. You can sign-up / login (it's free).

                    Which of the following is an example of a cash larceny scheme ?

                    • A. Anne buys a $500 table from a shop. Olive, the cashier, records a $400 sale on the cash register and steals the excess $100.
                    • B. 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.
                    • C. Michael is a cashier at a store. He records a fictitious return of a $50 jacket and takes $50 from the cash register.
                    • D. Scott performs a No-Sale transaction on the cash register, opens the register drawer, and takes a $100 bill.
                    Reveal Solution  Discussion  0

                    Correct Answer: D  🗳️

                    Explanation: Only visible for Actual4dump members. You can sign-up / login (it's free).

                    ________, one of the synonyms for fraud, implies deceiving so thoroughly as to obscure the truth.

                    • A. Beguile
                    • B. Delude
                    • C. Deceive
                    • D. Mislead
                    Reveal Solution  Discussion  0

                    Correct Answer: B  🗳️

                    Explanation: Only visible for Actual4dump members. You can sign-up / login (it's free).

                    Which of the following measures would be MOST EFFECTIVE for preventing cash register disbursement schemes?

                    • A. Encouraging at least one non-supervising employee to be physically present in the cash register area at all times
                    • B. Keeping register access codes secure and training employees not to share them
                    • C. Requiring each register worker to prepare the register count sheet and reconcile it with the register total for their own register
                    • D. Informing employees in advance that cash counts will be performed on a specific date
                    Reveal Solution  Discussion  0

                    Correct Answer: B  🗳️

                    Explanation: Only visible for Actual4dump members. You can sign-up / login (it's free).

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