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| Section | Weight | Objectives |
|---|---|---|
| Accounting Concepts | 5–10% | - Internal control fundamentals - Recording and summarizing transactions - Basic accounting principles - Financial statements structure |
| Identity Theft | 1–5% | - Types and techniques - Prevention and detection |
| Financial Statement Fraud | 10–15% | - Timing and disclosure manipulations - Revenue and asset overstatements - Expense and liability understatements - Detection and red flags |
| Asset Misappropriation – Cash Receipts | 5–10% | - Cash skimming schemes - Cash larceny schemes - Prevention and detection methods |
| Theft of Data and Intellectual Property | 5–10% | - Data and IP theft methods - Safeguarding proprietary information - Corporate espionage |
| Asset Misappropriation – Non-Cash Assets | 5–10% | - Concealment techniques - Misuse of assets - Inventory and equipment theft |
| Corruption Schemes | 5–10% | - Illegal gratuities and extortion - Conflicts of interest - Bribery and kickbacks |
| Industry-Specific Financial Crimes | 15–25% | - Financial institution fraud - Healthcare fraud - Insurance fraud - Real estate and securities fraud - Cyber-enabled and cryptocurrency fraud |
| Asset Misappropriation – Cash Disbursements | 10–15% | - Check and payment tampering - Payroll schemes - Expense reimbursement schemes - Billing schemes |
>> CFE-Fraud-Schemes-and-Financial-Crimes Test Guide <<
BootcampPDF CFE-Fraud-Schemes-and-Financial-Crimes practice test has real CFE-Fraud-Schemes-and-Financial-Crimes exam questions. You can change the difficulty of these questions, which will help you determine what areas appertain to more study before taking your Certified Fraud Examiner -Fraud Schemes and Financial Crimes (CFE-Fraud-Schemes-and-Financial-Crimes) exam dumps. Here we listed some of the most important benefits you can get from using our Certified Fraud Examiner -Fraud Schemes and Financial Crimes (CFE-Fraud-Schemes-and-Financial-Crimes) practice questions.
NEW QUESTION # 94
Madison has been appointed as a bankruptcy administrator. According to the recommendations of the World Bank Principles for Effective Insolvency and Creditor/Debtor Regimes, which of the following statements concerning Madison's role as bankruptcy administrator is MOST ACCURATE?
Answer: A
Explanation:
The correct answer is C because the World Bank Principles recommend that a bankruptcy administrator have broad powers, including the right to cancel fraudulent contracts or transactions entered into by the debtor. The ACFE material states that administrators, trustees, receivers, examiners, or similar insolvency representatives may be granted powers to collect, preserve, and dispose of debtor property, interfere with contracts when necessary to meet insolvency objectives, and compel relevant information from the debtor or other knowledgeable parties. Therefore, options A, B, and D incorrectly restrict the administrator's recommended authority. Madison's power is not limited to collection only, and she may compel information or intervene in contracts where the insolvency process requires it.
NEW QUESTION # 95
Which of the following statements regarding using front businesses as a method of laundering money is MOST ACCURATE?
Answer: D
Explanation:
The correct answer is D. Front businesses are attractive for money laundering because they allow illegal proceeds to be mixed with legitimate revenue, especially where cash sales are common and expenses are variable. Bars, restaurants, nightclubs, and similar businesses can make it difficult to reconcile actual customer activity with reported revenue and operating costs. This makes it easier to overstate revenues, inflate expenses, or insert illicit funds into the business records. Option A is inaccurate because money launderers might pay taxes on falsely reported income to make the funds appear legitimate. Option B is incorrect because a front may show high income despite low visible customer activity. Option C is too narrow and inaccurate because these businesses often involve variable purchases and pricing.
NEW QUESTION # 96
To prevent expense reimbursement fraud, it is recommended that companies require employees to submit receipts electronically.
Answer: A
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Expense reimbursement schemes are a common type of fraudulent disbursement. Requiring employees to submit receipts electronically improves controls by ensuring legibility, reducing the chance of altered or duplicate submissions, and creating a digital audit trail. This measure is recommended in the Fraud Examiners Manual as part of strengthening internal controls over reimbursement processes.
* Analysis of Incorrect Option:
* B. False - Incorrect because electronic receipt submission is indeed a recognized anti-fraud measure.
* Key Concept: Fraudulent disbursements prevention through documentation controls.
Reference: ACFE Manual, Fraudulent Disbursements - Expense Reimbursement Schemes .
NEW QUESTION # 97
__________ can be defined as conduct detrimental to the organization and to the employee.
Answer: D
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: The term Employee deviance refers to conduct that is harmful both to the organization and to the employee engaging in it. This encompasses a broad set of behaviors, including fraud, theft, abuse, and violations of organizational norms. While employee theft and fraud are subsets, deviance is the umbrella concept.
* Analysis of Incorrect Options:
* B. Employee theft - Specific to stealing from the employer, not the broader definition of detrimental conduct.
* C. Employee fraud - Specific to deceptive practices, not all deviant acts.
* D. All of the above - Incorrect, since the definition most accurately matches "Employee deviance."
* Key Concept: Employee Deviance - broader behavioral category that includes fraud, theft, and other misconduct.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Fraud Theory - Employee Deviance and Occupational Fraud .
NEW QUESTION # 98
Which of the following statements is TRUE regarding an analytical review of financial statements in relation to inventory theft?
Answer: A
Explanation:
Option D is correct because analytical review can reveal inventory theft when cost of goods sold changes disproportionately compared with sales. If inventory is stolen, the organization may experience higher inventory shrinkage or cost of goods sold without a corresponding increase in sales revenue. The ACFE material identifies analytical review, physical inventory counts, perpetual inventory records, and shipping- document review as methods for detecting inventory schemes. Option A is incorrect because analytical review can help identify unusual relationships or trends. Option B is weak because unchanged sales and unchanged cost of goods sold do not indicate a loss pattern. Option C is too absolute; changes in cost of goods sold must be evaluated in relation to sales, business conditions, and other explanations.
NEW QUESTION # 99
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