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ACFE CFE-Fraud-Prevention-and-Deterrence Exam Overview:
| Certification Vendor: | ACFE |
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| Exam Name: | Certified Fraud Examiner - Fraud Prevention and Deterrence Exam |
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| Exam Number: | CFE |
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| Real Exam Qty: | 100 |
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| Passing Score: | 75% |
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| Related Certifications: | Certified Fraud Examiner (CFE) |
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| Exam Duration: | 120 minutes |
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| Exam Format: | Multiple-choice |
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| Certificate Validity Period: | Not specified |
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| Available Languages: | English |
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| Exam Price: | $450 |
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| Sample Questions: | ACFE CFE-Fraud-Prevention-and-Deterrence Sample Questions |
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| Exam Way: | Online or at a testing center |
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| Pre Condition: | Requires a combination of professional experience and points-based qualification system (minimum 40 points to sit for the exam, 50 points for certification). |
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| Official Syllabus URL: | https://www.acfe.com/cfe-credential/about-the-cfe-exam.aspx |
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ACFE CFE-Fraud-Prevention-and-Deterrence Certification is considered a valuable credential for professionals seeking to advance their careers in the fraud prevention and detection industry. It demonstrates a commitment to ethical and professional standards and provides an opportunity for individuals to showcase their expertise in fraud prevention and detection. Passing the exam requires dedication, hard work, and a deep understanding of the concepts and techniques related to fraud prevention and detection.
ACFE Certified Fraud Examiner - Fraud Prevention and Deterrence Exam Sample Questions (Q136-Q141):
NEW QUESTION # 136
Which of the following is one of the four recommendations made by the National Commission on Fraudulent Financial Reporting (the Treadway Commission) to reduce the probability of fraud in financial reports?
- A. Provide adequate resources and authority to the internal audit function.
- B. Develop a written charter for the audit committee.
- C. Have a mandatory independent finance committee.
- D. Assign oversight of the hotline reporting program to company shareholders.
Answer: A
Explanation:
Comprehensive and Detailed in Depth Explanation:
The Treadway Commission emphasized strengthening the internal audit function as a key fraud deterrent.
This includes ensuring auditors have adequate resources, authority, and independence to carry out their duties.
While formal structures like audit committee charters are useful, the commission specifically focused on functional empowerment of internal audit.
NEW QUESTION # 137
Which of the following statements regarding best practices that organizations can take to protect and support whistleblowers is MOST ACCURATE?
- A. Organizations should emphasize that rules regarding whistleblower protections are only intended for lower level employees who might be more vulnerable to retaliation.
- B. Organizations should publicize their whistleblower procedures internally but should avoid communicating any procedural information to parties outside of the organization.
- C. Organizations should implement a clear whistleblower policy that lists out every type of misconduct that has ever been reported at the company.
- D. Organizations should establish formal consequences that are to be imposed upon employees at the company who retaliate against a whistleblower.
Answer: D
NEW QUESTION # 138
Which of the following statements regarding recommended vendor due diligence procedures is MOST ACCURATE?
- A. An organization should perform audits of potential vendors before agreeing to conduct business with them.
- B. An organization should request that new vendors complete a questionnaire about their background immediately after signing a contract with them.
- C. An organization should avoid revealing that it is seeking information about potential vendors prior to starting its relationship with them.
- D. An organization should ensure that vendors have their own ethics and compliance program before engaging in any transactions with them.
Answer: D
Explanation:
Comprehensive and Detailed in Depth Explanation:
A key element of vendor due diligence is ensuring that third-party vendors have robust ethics and compliance programs. This helps align values, mitigate fraud risks, and establish clear expectations. While audits and questionnaires are good practices, they are not always mandatory or feasible before engagement. Moreover, transparency in seeking vendor information (unlike in A) is a norm in legitimate vetting practices.
NEW QUESTION # 139
Sofia, a Certified Fraud Examiner (CFE). look an introductory class in computer forensics When a client thought there might be evidence of a crime on his hard drive. Sofia decided to conduct a forensic examination of the hard drive even though she had no experience or advanced training in this area Sofia's conduct would likely be a violation of the ACFE Code of Professional Ethics
Answer: A
NEW QUESTION # 140
During the course of a fraud examination. While, an employee of the ABC Corp.. approaches Blue, a Certified Fraud Examiner (CFE), and tells Blue that she wishes to furnish information in confidence. Blue also is employed by the ABC Corp. Blue should:
- A. Not agree to the request for confidentiality
- B. Agree that the information will be held in confidence, even though Blue knows it will not be
- C. Tell White that she will try to keep the information as confidential as possible
- D. Take White's request straight to ABC Corp.'s management
Answer: A
Explanation:
CFE Ethical Responsibilities:
* As per the ACFE Code of Professional Ethics, fraud examiners must ensure transparency in their professional conduct. They cannot promise confidentiality if the information must be disclosed to management or other authorities as part of the investigation.
Why D is Correct:
* Agreeing to confidentiality in this situation would breach ethical and legal obligations, especially if the information pertains to fraud or misconduct that the organization needs to address.
Why Other Options are Incorrect:
* A and B: Attempting to maintain confidentiality is misleading and unprofessional.
* C: Taking the request directly to management without clarification could breach trust prematurely.
NEW QUESTION # 141
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