Latest CFE-FT-FS Practice Tests with Actual Questions

CFE-FT-FS Dumps

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ACFE

CFE-FT-FS

CFE Financial Transactions and Fraud Schemes Certified Fraud Examiner

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Question: 54

Employees with the authority to grant discounts in order to skim revenues may use which authority? A . False discounts

B . Recording a discount on sale procedure C . Internal discount sales audits

D . None of the above

Answer: A

Question: 55

Which of the following method is NOT used to detect conflicts of interest? A . Tips & Complaints

B . Review of vendor ownership files C . Underbillings of assets

D . Interviews with purchasing personnel

Answer: C

Question: 56

The behavior profile of employees who are involved in bribery schemes may include: A . Gambling habit

B . Extravagant lifestyle

C . Drug and/or alcohol addiction D . All of the above

Answer: D

Question: 57

How many accounts are affected in fraudulent accounting entries and therefore same number of categories on the financial statement?

A . One

B . At least two

C . More than two

D . None of above

Answer: A

Question: 58

If the assets are intentionally purchased by the company but simply misappropriated by the fraudster, this is referring to as:

A . Inventory larceny scheme B . Asset receiving scheme

C . Fraudulent purchase D . Falsify shipping

Answer: A

Question: 59

The act of an official or fiduciary person who unlawfully and wrongfully uses his station or character to procure some benefit, contrary to duty and rights of others is called:

A . Conflict of interest B . Corruption

C . Bribery

D . Overbilling

Answer: B

Question: 60

Verify supporting documentation on outstanding checks written for a material amount is a test used to conduct for: A . Check disbursement

B . Bank confirmation C . Bank confirmation D . Cut-off statements

Answer: C