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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Asset Misappropriation – Cash Receipts | 5–10% | - Prevention and detection methods - Cash larceny schemes - Cash skimming schemes |
| Topic 2: Theft of Data and Intellectual Property | 5–10% | - Safeguarding proprietary information - Data and IP theft methods - Corporate espionage |
| Topic 3: Industry-Specific Financial Crimes | 15–25% | - Cyber-enabled and cryptocurrency fraud - Insurance fraud - Real estate and securities fraud - Healthcare fraud - Financial institution fraud |
| Topic 4: Asset Misappropriation – Cash Disbursements | 10–15% | - Billing schemes - Expense reimbursement schemes - Check and payment tampering - Payroll schemes |
| Topic 5: Identity Theft | 1–5% | - Types and techniques - Prevention and detection |
| Topic 6: Financial Statement Fraud | 10–15% | - Timing and disclosure manipulations - Revenue and asset overstatements - Expense and liability understatements - Detection and red flags |
| Topic 7: Accounting Concepts | 5–10% | - Basic accounting principles - Recording and summarizing transactions - Financial statements structure - Internal control fundamentals |
| Topic 8: Corruption Schemes | 5–10% | - Bribery and kickbacks - Conflicts of interest - Illegal gratuities and extortion |
| Topic 9: Asset Misappropriation – Non-Cash Assets | 5–10% | - Concealment techniques - Misuse of assets - Inventory and equipment theft |
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NEW QUESTION # 14
To detect fraud committed by a health care provider, a fraud examiner should look for which of the following red flags?
Answer: C
Explanation:
The correct answer is A because an unusually high number of reimbursement claims can indicate provider fraud, overutilization, fictitious services, inflated billings, or other abusive billing activity. Health care fraud detection often relies on identifying abnormal patterns compared with similar providers, patient populations, or expected service levels. A consistently low percentage of coding outliers is not, by itself, suspicious.
Producing adequate supporting documentation is generally a positive sign, although the documents should still be tested for authenticity. Creating medical records during or soon after the patient visit is proper practice because records should be timely and accurate. The ACFE health care fraud material identifies provider fraud and red flags of provider fraud as important detection areas, especially where billing volume or claim patterns appear abnormal.
NEW QUESTION # 15
Which of the following measures would be MOST EFFECTIVE in helping a financial institution prevent new account fraud?
Answer: B
Explanation:
The correct answer is C. New account fraud often involves opening accounts with false, stolen, or synthetic identities. The most effective preventive measure listed is to verify the customer's identity through reliable third-party credit reporting agencies and customer identification services. These sources can help confirm identity details, detect inconsistencies, identify suspicious histories, and reduce reliance on documents that might be forged. Employer recommendation letters are not standard or reliable identity controls. Small cash deposits are not automatically suspicious and might be normal for many customers. Sending communications to all previous residences is inefficient and unlikely to be the strongest verification method. The ACFE financial institution fraud materials identify new account fraud schemes and emphasize customer identification controls as a prevention method.
NEW QUESTION # 16
One of the simplest ways to justify unacceptable conduct and avoid guilt feelings is to invent a good reason for ________.
Answer:
Explanation:
One's actions (i.e., Rationalization)
* Rationale for Correct Answer: Rationalization is the cognitive process by which fraud perpetrators justify their unethical conduct so they can commit fraud without feeling like criminals. A common way is to "invent a good reason" for their actions (e.g., "I deserve it," "I'll pay it back," "Everyone else is doing it"). Thus, the correct completion is "one's actions" or more precisely, Rationalization .
* Analysis of Incorrect Options: Since this is a fill-in-the-blank, the distractors are implied. The only correct concept here is rationalization of one's actions .
* Key Concept: Rationalization - one leg of the fraud triangle.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Fraud Theory - Rationalization in Cressey's Fraud Triangle .
NEW QUESTION # 17
Which of the following is NOT a medium that commonly causes an organization's proprietary information to be compromised?
Answer: D
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Properly shredded documents using a cross-cut shredder are very difficult to reconstruct, making them not a common medium for information leaks. By contrast, shareholder reports, executive speeches, and workstation displays often contain sensitive data that can be exploited by competitors or fraudsters.
* Analysis of Incorrect Options:
* A - Shareholder reports can reveal strategy and financial vulnerabilities.
* C - Executive speeches sometimes unintentionally disclose sensitive plans.
* D - Information left visible at workstations is a known security risk.
* Key Concept: Protection of proprietary information against espionage and fraud.
Reference: ACFE Manual, Fraud Prevention and Deterrence - Information Security .
NEW QUESTION # 18
Which of the following is a method that a fraudster might use to conceal inventory shrinkage?
Answer: A
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Fraudsters conceal inventory shrinkage through multiple methods, including unrecorded sales, false write-offs, or manipulating perpetual records. The ACFE manual notes that concealment is a common theme in inventory fraud. Hence, all of the above are valid.
* Analysis of Incorrect Options:
* A, B, C - Each is correct individually, but the most comprehensive answer is D.
* Key Concept: Concealment methods for inventory theft.
Reference: ACFE Manual, Asset Misappropriation - Inventory and Other Assets .
NEW QUESTION # 19
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