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Certified Fraud Examiner Certification Sample Questions and Practice Exam
NEW QUESTION 111
Another way to eliminate competition in the solicitation phase of the selection process is to:
- A. Solicit bid from fictitious suppliers
- B. None of the above
- C. Solicit transaction from fictitious vendors
- D. Solicit bid-splitting from fictitious vendors
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 112
Which of the following is NOT the reason why senior management will overstate business statement?
- A. Trigger performance related compensation
- B. Comply with debit covenants
- C. Meet personal performance criteria
- D. Show a pattern of growth to support sale of a business
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 113
Which of the following is NOT the reason why senior management will overstate business statement?
- A. Trigger performance related compensation
- B. Comply with debit covenants
- C. Meet personal performance criteria
- D. Show a pattern of growth to support sale of a business
Answer: B
NEW QUESTION 114
One final means of concealing a register scheme, as with many kinds of fraud, is to destroy all records of the transaction.
- A. True
- B. False
Answer: A
NEW QUESTION 115
According to a survey, in principal perpetrator, males in a majority of cases, accounting for ___ percent of frauds versus ___ percent in which a female was the primary culprit.
- A. 62 versus 37
- B. 61 versus 39
- C. None of the above
- D. 62 versus 36
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 116
By what accountant means that the financial figures presented by the company are at least as much as reflected in the statements, if not more.
- A. Matching
- B. Misappropriations
- C. Fraudulent statement
- D. Conservatism
Answer: D
NEW QUESTION 117
Skimming is:
- A. The removal of cash from a victim entity after its entry in an accounting system.
- B. None of above
- C. The removal of cash from a victim entity prior to its entry in an accounting system.
- D. The addition of cash from a victim entity prior to its entry in an accounting system.
Answer: C
NEW QUESTION 118
A typical issue involving material and fraud would be:
- A. Misappropriations
- B. Fraudulent statement
- C. Quality control
- D. Civil lawsuit
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 119
Which of the following are not of Basic types of non-sharable problems?
- A. Larceny by Fraud
- B. Physical Isolation
- C. Business reversals
- D. Violation of ascribed obligations
Answer: A
NEW QUESTION 120
Which of the following is the amount of money that would be realized upon the sale of the asset at some point in the future, less the costs associated with owing, operating and selling it?
- A. Going concern
- B. Cost
- C. Net realizable value
- D. Fair value
Answer: C
NEW QUESTION 121
_________ assumes the business will go on indefinitely in the future.
- A. Going concern
- B. Cost
- C. Materiality
- D. Fair value
Answer: A
NEW QUESTION 122
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. General purchasing
- D. Sealed bids
Answer: D
NEW QUESTION 123
Which of the following is NOT the example of bribery prevention policies?
- A. Resource diversions
- B. Discounts
- C. Reporting gifts
- D. Business meetings
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 124
__________ is required if and when officers, executives or other persons in trusted positions become subjects of a criminal indictment.
- A. Resource diversion
- B. Conflict of interest
- C. Disclosure
- D. Turnaround sale or flip
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 125
The excess credits (or debits) on the income statement are used to decrease (or increase) the equity account.
- A. False
- B. True
Answer: A
NEW QUESTION 126
Skimming is:
- A. The removal of cash from a victim entity after its entry in an accounting system.
- B. None of above
- C. The removal of cash from a victim entity prior to its entry in an accounting system.
- D. The addition of cash from a victim entity prior to its entry in an accounting system.
Answer: C
NEW QUESTION 127
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