Training CFE-Fraud-Prevention Material, CFE-Fraud-Prevention Valid Test Review

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ACFE CFE-Fraud-Prevention Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Professional Ethics5–10%- Ethical decision-making
- Conflicts of interest and integrity
- ACFE Code of Professional Ethics
Topic 2: Management's Fraud-Related Responsibilities5–10%- Oversight and accountability
- Reporting mechanisms
- Establishing anti-fraud policies
Topic 3: Fraud Risk Assessment15–20%- Assessment implementation and documentation
- Risk analysis and prioritization
- Risk identification methodologies
Topic 4: White-Collar Crime15–20%- Impact on organizations and society
- Legal prosecution and sanctions
- Causal factors and opportunity structures
- Organizational vs occupational crime
- Definition and characteristics
Topic 5: Corporate Governance20–25%- Internal control systems
  • 1. COSO five components
    - Roles of board, management, auditors
    - Governance frameworks and principles
    • 1. OECD guidelines
      • 2. Treadway Commission (COSO)
        Topic 6: Fraud Prevention Programs15–20%- Communication and training
        - Designing prevention strategies
        - Monitoring and continuous improvement
        Topic 7: Understanding Criminal Behavior5–10%- Theories of crime causation
        • 1. Social control and social learning theory
        • 2. Differential association theory
        • 3. Rational choice and routine activities theory
        - Behavior modification principles

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        ACFE Certified Fraud Examiner - Fraud Prevention and Deterrence Exam Sample Questions (Q162-Q167):

        NEW QUESTION # 162
        Who is ultimately responsible lor ensuring the effectiveness of the organization's anti-fraud program?

        Answer: D

        Explanation:
        Responsibility for Anti-Fraud Program Effectiveness:
        Management holds ultimate responsibility for designing, implementing, and maintaining an effective anti-fraud program.
        Internal and external auditors, as well as compliance functions, provide oversight and recommendations but are not directly responsible for the program's effectiveness.
        Conclusion: Management is ultimately accountable for ensuring the success of the anti-fraud program.


        NEW QUESTION # 163
        Beezie, a Certified Fraud Examiner (CFE), took an introductory class in computer forensics.
        When a client thought there might be evidence of a crime on their computer, Beezie decided to conduct a forensic examination of the computer even though she had no experience or advanced training in this area. Which of the following is TRUE regarding Beezie's conduct?

        Answer: D


        NEW QUESTION # 164
        According to the Committee of Sponsoring Organizations of the Treadway Commission (COSO).________Is "a process. effected by an entity's board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance."

        Answer: B

        Explanation:
        COSO defines internal control as a process enacted by an entity's board, management, and personnel to provide reasonable assurance regarding objectives in operations, reporting, and compliance.


        NEW QUESTION # 165
        Which of the following Is NOT a way that an organization's fraud risk assessment should be Incorporated Into the audit process?

        Answer: B

        Explanation:
        Integration of Fraud Risk Assessment in Audits:
        The fraud risk assessment provides valuable input but does not replace the auditor's independent responsibility to identify and assess fraud risks.
        Why B is Correct:
        Professional auditing standards require auditors to perform their own risk assessments, and the fraud risk assessment is only a tool to enhance this process.


        NEW QUESTION # 166
        Professional auditing standards require that auditors incorporate an "element of unpredictability" in the selection of auditing procedures to be performed.

        Answer: B

        Explanation:
        Professional Auditing Standards Requirement:
        Standards such as the International Standards on Auditing (ISA) and Generally Accepted Auditing Standards (GAAS) require auditors to include elements of unpredictability in their audit procedures to reduce the risk of fraud.
        Purpose of Unpredictability:
        By varying the scope, timing, and extent of audits, auditors prevent potential fraudsters from anticipating audit procedures and adjusting their behavior.
        Why A is Correct:
        This aligns with established auditing principles to enhance fraud detection and maintain audit integrity.


        NEW QUESTION # 167
        ......

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