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| Section | Weight | Objectives |
|---|---|---|
| Financial Statement Fraud | 10–15% | - Detection and red flags - Expense and liability understatements - Revenue and asset overstatements - Timing and disclosure manipulations |
| Identity Theft | 1–5% | - Prevention and detection - Types and techniques |
| Theft of Data and Intellectual Property | 5–10% | - Data and IP theft methods - Corporate espionage - Safeguarding proprietary information |
| Corruption Schemes | 5–10% | - Illegal gratuities and extortion - Conflicts of interest - Bribery and kickbacks |
| Asset Misappropriation – Cash Disbursements | 10–15% | - Payroll schemes - Expense reimbursement schemes - Billing schemes - Check and payment tampering |
| Asset Misappropriation – Non-Cash Assets | 5–10% | - Inventory and equipment theft - Misuse of assets - Concealment techniques |
| Industry-Specific Financial Crimes | 15–25% | - Healthcare fraud - Insurance fraud - Real estate and securities fraud - Financial institution fraud - Cyber-enabled and cryptocurrency fraud |
| Asset Misappropriation – Cash Receipts | 5–10% | - Prevention and detection methods - Cash skimming schemes - Cash larceny schemes |
| Accounting Concepts | 5–10% | - Financial statements structure - Basic accounting principles - Internal control fundamentals - Recording and summarizing transactions |
>> CFE-Fraud-Schemes-and-Financial-Crimes Test Cram Pdf <<
They make an effort to find reliable and current ACFE CFE-Fraud-Schemes-and-Financial-Crimes practice questions for the difficult ACFE CFE-Fraud-Schemes-and-Financial-Crimes exam. More challenging than just passing the ACFE CFE-Fraud-Schemes-and-Financial-Crimes Certification are the intense anxiety and heavy workload that the candidate must endure to be eligible for the ACFE CFE-Fraud-Schemes-and-Financial-Crimes certification.
NEW QUESTION # 169
Which of the following statements concerning methods that corporate spies use to steal information from other organizations is MOST ACCURATE?
Answer: A
Explanation:
The correct answer is D. Technical surveillance involves using electronic or technical means to collect information that is not available through open sources, including nondocumentary information such as conversations, signals, or communications. This is a recognized method of corporate espionage when used to obtain proprietary or confidential business information. Option A is too narrow and inaccurate because social engineering manipulates people into revealing information or providing access, not primarily desk-file searches. Option B misstates physical infiltration; physical entry can give access to premises, documents, or devices, but exploiting firewalls is a technical attack. Option C incorrectly defines pretexting; pretexting involves using a false identity or fabricated reason to obtain information. Corporate espionage must be distinguished from lawful competitive intelligence.
NEW QUESTION # 170
Aja is implementing measures to help ABC Company detect signs that its proprietary information has been stolen. Which of the following practices would be MOST HELPFUL for Aja to implement?
Answer: C
Explanation:
The best practice is to identify employees leaving the company who have downloaded an unusually large number of data files. Departing employees present a heightened risk of proprietary information theft because they might take customer lists, pricing data, product designs, research, formulas, source code, or strategic plans for use with a competitor or new venture. Monitoring abnormal downloading activity is a targeted detective control that focuses on actual access and extraction of sensitive data. Options A and C rely on external competitor activity and might reveal only indirect indicators after damage occurs. Option B is too broad because permitted access alone does not show theft. The ACFE material emphasizes insider threats, safeguarding proprietary information, and monitoring unusual access or transfer of sensitive data.
NEW QUESTION # 171
Revenue is recognized when it is:
Answer: B
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Under GAAP, revenue is recognized when it is realized or realizable and earned . This requires that the earnings process be substantially complete, and payment be reasonably assured.
* Analysis of Incorrect Options:
* B. Fictitious and Earned - Fictitious revenues are fraud, not recognized revenue.
* C. Realized and Evidenced - Evidence supports recognition, but "earned" is the proper standard.
* D. All of the above - Incorrect, since only option A is correct.
* Key Concept: Revenue recognition principle - realized/realizable and earned.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Financial Statement Fraud - Revenue Recognition Standards .
NEW QUESTION # 172
A fraud examiner is attempting to determine whether an online retailer's customers have committed card-not- present (CNP) payment card fraud schemes. Which of the following measures would be MOST EFFECTIVE in detecting this type of fraud?
Answer: B
Explanation:
Card-not-present fraud occurs when payment card information is used without the physical card being presented, commonly in online transactions. Comparing IP addresses for internet orders with those used in previous orders by the same customer is the most effective detection measure listed because it helps identify unusual access patterns. If an order is placed from an unfamiliar or suspicious IP address inconsistent with the customer's historical activity, it can indicate unauthorized use of stolen card data. Small orders from new accounts might be suspicious but are less reliable alone. Declining rush shipping is not a typical fraud indicator, and purchasing several unique items is not necessarily suspicious. The ACFE materials identify payment card fraud and card-not-present transactions as key payment fraud risks.
NEW QUESTION # 173
_____________ involves purposeful misreporting of financial information about the organization that is intended to mislead those who read it.
Answer: C
NEW QUESTION # 174
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