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| Section | Weight | Objectives |
|---|---|---|
| Financial Statement Fraud | 10–15% | - Timing and disclosure manipulations - Revenue and asset overstatements - Detection and red flags - Expense and liability understatements |
| Theft of Data and Intellectual Property | 5–10% | - Safeguarding proprietary information - Corporate espionage - Data and IP theft methods |
| Industry-Specific Financial Crimes | 15–25% | - Cyber-enabled and cryptocurrency fraud - Insurance fraud - Real estate and securities fraud - Financial institution fraud - Healthcare fraud |
| Asset Misappropriation – Cash Receipts | 5–10% | - Cash skimming schemes - Prevention and detection methods - Cash larceny schemes |
| Asset Misappropriation – Non-Cash Assets | 5–10% | - Concealment techniques - Misuse of assets - Inventory and equipment theft |
| Asset Misappropriation – Cash Disbursements | 10–15% | - Expense reimbursement schemes - Check and payment tampering - Payroll schemes - Billing schemes |
| Accounting Concepts | 5–10% | - Basic accounting principles - Internal control fundamentals - Financial statements structure - Recording and summarizing transactions |
| Corruption Schemes | 5–10% | - Illegal gratuities and extortion - Conflicts of interest - Bribery and kickbacks |
| Identity Theft | 1–5% | - Prevention and detection - Types and techniques |
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NEW QUESTION # 173
Which of the following is the MOST ACCURATE statement about the different types of malware?
Answer: A
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Ransomware is malware that encrypts or locks an operating system and prevents access to data until a ransom is paid. This definition is correct.
* Analysis of Incorrect Options:
* A. Spyware - Monitors user activity, keystrokes, or data, not a startup instruction program.
* B. Trojan horse - Appears legitimate but contains malicious code; adware is different.
* C. Worm - Self-replicating program spreading across networks; not a keystroke logger.
* Key Concept: Cyber fraud and malware types .
Reference: ACFE Fraud Examiners Manual (2020) , Computer and Internet Fraud: Malware .
NEW QUESTION # 174
To reduce his tax bill, John adds fake deductions to his personal tax return. John is MOST LIKELY engaging in:
Answer: C
Explanation:
John is engaging in tax evasion because he intentionally adds false deductions to reduce the amount of tax he owes. The ACFE material distinguishes tax evasion from tax avoidance. Tax avoidance involves legal planning, such as legitimate deductions, credits, or shelters. Tax evasion involves fraudulent actions taken to avoid reporting or paying taxes. Fake deductions are not legitimate tax planning because they misrepresent facts on the return. This conduct can also be described as falsifying tax deductions, a specific type of tax evasion scheme. Tax sheltering is not the best answer because the facts do not describe a lawful or abusive shelter arrangement. Tax misappropriation is not the correct classification. Because John knowingly uses false deductions, option B is correct.
NEW QUESTION # 175
Which of the following is TRUE regarding ghost employee schemes?
Answer: C
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: A ghost employee scheme occurs when someone (real or fictitious) is added to payroll, and paychecks are diverted to the fraudster. The key requirement is that the "ghost" is listed on payroll records.
* Analysis of Incorrect Options:
* A - The ghost may be fictitious or a real former employee.
* B - Employment classification is irrelevant.
* C - A ghost could be a current, terminated, or entirely fictitious employee.
* Key Concept: Payroll fraud - ghost employee schemes.
Reference: ACFE Manual, Asset Misappropriation - Payroll Schemes .
NEW QUESTION # 176
Which of the following are not basic types of non-sharable problems?
Answer: A
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Cressey's research on fraud offenders found that most had non- sharable financial problems, which fell into categories such as: (1) violation of ascribed obligations, (2) business reversals, (3) physical isolation, (4) status gaining, and (5) employer-employee relations.
"Larceny by fraud" is not a category of non-sharable problem but rather a type of theft scheme. Hence, D is correct.
* Analysis of Incorrect Options:
* A. Violation of ascribed obligations - Correctly one type of non-sharable problem.
* B. Business reversals - Correctly one type of non-sharable problem.
* C. Physical isolation - Correctly one type of non-sharable problem.
* D. Larceny by fraud - Not a "problem" type; it is a fraud scheme.
* Key Concept: Cressey's non-sharable problems - psychological and situational pressures that contribute to occupational fraud.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Fraud Theory - Cressey's Hypothesis and Non-sharable Problems .
NEW QUESTION # 177
Which of the following actions can make mobile payments more secure?
Answer: C
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Biometric authentication (e.g., fingerprint, facial recognition) strengthens payment security by ensuring that only the authorized user can approve transactions, reducing the risk of unauthorized access even if credentials are stolen.
* Analysis of Incorrect Options:
* A - Using the same credentials increases exposure to credential-stuffing attacks.
* C - Disabling biometrics weakens, not strengthens, security.
* D - Incorrect since B is valid.
* Key Concept: Cyberfraud prevention - authentication and mobile payment controls.
Reference: ACFE Manual, Fraud Prevention and Deterrence - Cybersecurity Measures .
NEW QUESTION # 178
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