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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Fraud Schemes | - Asset Misappropriation Schemes
|
| Topic 2: Financial Crimes | - Banking and Payment Fraud
|
| Topic 3: Fraud Investigation and Analysis | - Data analysis in fraud detection
|
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
Correct Answer: C 🗳️
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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.
Correct Answer: C 🗳️
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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.
Correct Answer: D 🗳️
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________, one of the synonyms for fraud, implies deceiving so thoroughly as to obscure the truth.
- A. Beguile
- B. Delude
- C. Deceive
- D. Mislead
Correct Answer: B 🗳️
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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
Correct Answer: B 🗳️
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