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| Section | Weight | Objectives |
|---|---|---|
| Identity Theft | 1–5% | - Types and techniques - Prevention and detection |
| Industry-Specific Financial Crimes | 15–25% | - Real estate and securities fraud - Financial institution fraud - Insurance fraud - Healthcare fraud - Cyber-enabled and cryptocurrency fraud |
| Asset Misappropriation – Cash Disbursements | 10–15% | - Billing schemes - Check and payment tampering - Payroll schemes - Expense reimbursement schemes |
| Corruption Schemes | 5–10% | - Bribery and kickbacks - Conflicts of interest - Illegal gratuities and extortion |
| Accounting Concepts | 5–10% | - Financial statements structure - Basic accounting principles - Recording and summarizing transactions - Internal control fundamentals |
| Theft of Data and Intellectual Property | 5–10% | - Data and IP theft methods - Corporate espionage - Safeguarding proprietary information |
| Asset Misappropriation – Cash Receipts | 5–10% | - Prevention and detection methods - Cash skimming schemes - Cash larceny schemes |
| Asset Misappropriation – Non-Cash Assets | 5–10% | - Concealment techniques - Inventory and equipment theft - Misuse of assets |
| Financial Statement Fraud | 10–15% | - Expense and liability understatements - Detection and red flags - Timing and disclosure manipulations - Revenue and asset overstatements |
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NEW QUESTION # 140
Ada uses her mother's government identification card to impersonate her mother and obtain health care for herself under her mother's insurance benefits. Which type of patient health care fraud scheme is Ada MOST LIKELY committing?
Answer: C
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: This is third-party fraud , where someone uses another person's identity (often a relative or acquaintance) to obtain services or benefits they are not entitled to, such as medical treatment under another's insurance.
* Analysis of Incorrect Options:
* A. Misrepresentations fraud - Usually involves false information by a legitimate patient or provider.
* B. Fictitious claims fraud - Involves billing for services that never occurred.
* D. Multiple claims fraud - Involves submitting duplicate claims for the same service.
* Key Concept: Health care fraud typologies - patient third-party impersonation.
Reference: ACFE Manual, Financial Transactions - Health Care Fraud .
NEW QUESTION # 141
People commit financial statement fraud to:
Answer: A
Explanation:
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Financial Statement Fraud - Motivations and Incentives .
NEW QUESTION # 142
The most basic skimming scheme occurs when:
Answer: C
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: The most basic skimming scheme is when an employee completes a legitimate sale, collects payment, but never records the transaction. The stolen cash is never entered in the books, making it an "off-book" fraud.
* Analysis of Incorrect Options:
* B & D - Describe purchasing scenarios, irrelevant to skimming.
* C - Records the sale, meaning the transaction enters the books (not skimming).
* Key Concept: Unrecorded Sales as the simplest form of skimming.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Cash Receipts - Basic Skimming Schemes .
NEW QUESTION # 143
The person or persons who have access to __________ are often the targets of unethical vendors seeking an advantage in the process.
Answer: C
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Fraudsters often attempt to influence or bribe employees who have access to sealed bids . Access to sealed bids provides unfair knowledge of competitors' pricing and terms, enabling collusion or bid manipulation.
* Analysis of Incorrect Options:
* A. Bid-splitting - A fraud scheme, not what vendors seek access to.
* C. General purchasing - Too broad; not specifically tied to vendor fraud.
* D. Tailor specifications - A corruption scheme, but not the specific target of vendor bribery.
* Key Concept: Sealed bid access as a key target in procurement fraud.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Corruption - Bid Manipulation .
NEW QUESTION # 144
When a victim company purchases unnecessary goods or services from a supplier at the direction of the corrupt employee, this results in:
Answer: C
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: A need recognition scheme occurs when an employee uses their influence to convince their employer to purchase unnecessary goods or services. This benefits the supplier (often paying kickbacks) but harms the employer.
* Analysis of Incorrect Options:
* A. Presolicitation scheme - General stage of procurement, not specific.
* C. False sole-source scheme - Involves eliminating competition by claiming only one vendor can supply the good/service.
* D. Submission scheme - Related to bid-rigging, not need recognition.
* Key Concept: Need recognition schemes - corruption through unnecessary purchases.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Corruption - Need Recognition Schemes .
NEW QUESTION # 145
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