Therefore, keep checking the updates frequently to avoid any stress regarding the Certified Fraud Examiner -Fraud Schemes and Financial Crimes CFE-Fraud-Schemes-and-Financial-Crimes certification exam. All your endeavors can turn to dust if you prepare as per the old content. The facilitating measures by Exam4Free do not halt here. You will get ACFE CFE-Fraud-Schemes-and-Financial-Crimes updates until 365 days after purchasing the CFE-Fraud-Schemes-and-Financial-Crimes practice exam material.
| Section | Objectives |
|---|---|
| Topic 1: Financial Crimes | - Banking and Payment Fraud
|
| Topic 2: Fraud Schemes | - Asset Misappropriation Schemes
|
| Topic 3: Fraud Investigation and Analysis | - Data analysis in fraud detection
|
>> CFE-Fraud-Schemes-and-Financial-Crimes Exam Demo <<
In the such a brilliant era of IT industry in the 21st century competition is very fierce. Naturally, ACFE Certification CFE-Fraud-Schemes-and-Financial-Crimes Exam has become a very popular exam in the IT area. More and more people register for the exam and passing the certification exam is also those ambitious IT professionals' dream.
NEW QUESTION # 344
The most basic skimming scheme occurs when:
Answer: A
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 # 345
Which of the following actions would balance the accounting equation to conceal the misappropriation of cash?
Answer: D
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: When cash is stolen, the accounting equation (Assets = Liabilities + Equity) must still balance. Fraudsters may increase a liability (e.g., record fictitious payables) to cover the missing cash. This is a common concealment method.
* Analysis of Incorrect Options:
* A. Increasing another asset - Would require inflating assets, but this usually affects financial statement fraud, not cash theft concealment.
* B. Increasing owners' equity - Not logical without legitimate earnings or capital contributions.
* D. Creating fictitious revenue - Used in financial statement fraud, not in balancing theft concealment.
* Key Concept: Concealment methods for asset misappropriation - offsetting missing cash with fictitious liabilities .
Reference: ACFE Fraud Examiners Manual (2020) , Financial Statement Fraud: Concealment Methods .
NEW QUESTION # 346
Cole, a procurement officer, receives illicit payments from contractors in exchange for preferential treatment.
The illicit payments are deposited into a bank account owned by XYZ Inc., a shell company Cole created.
Cole then transfers the funds to various foreign accounts he controls. Later, Cole wires the money held in the foreign accounts to a domestic bank account owned by Cole Real Estate, a side business Cole established.
Cole then uses the funds in the real estate account to invest in commercial real estate. In which stage of money laundering did Cole engage when he invested in real estate?
Answer: A
Explanation:
Cole engaged in integration when he invested the laundered funds in commercial real estate. Money laundering generally involves placement, layering, and integration. Placement introduces illicit proceeds into the financial system. Layering separates the funds from their criminal source through transfers, shell companies, foreign accounts, and other complex movements. Integration occurs when the funds are reintroduced into the economy in a way that makes them appear legitimate, such as purchasing or investing in real estate. Cole's earlier use of XYZ Inc., foreign accounts, and transfers reflects layering. The final use of the funds by Cole Real Estate to invest in commercial real estate represents integration because the illicit proceeds are converted into an apparently legitimate business asset.
NEW QUESTION # 347
Guillermo has received a grant to study the effectiveness of school lunch programs on students' mental health.
Guillermo's results are inconclusive, causing him to be concerned that he will lose funding for his project. As a result, Guillermo creates some data points that support his research and show that he is making progress.
Guillermo's actions can BEST be described as:
Answer: A
Explanation:
Guillermo's conduct is best described as research misconduct because he fabricated data points to make his research appear more successful and to preserve grant funding. Research misconduct commonly includes fabrication, falsification, or plagiarism in proposing, performing, reviewing, or reporting research. The key fact is that Guillermo created data that did not exist and presented it as research support. Fraudulent concealment generally involves hiding material facts, not creating false research data. Fictitious claims fraud involves submitting false claims for payment, usually to a government or program, but the question focuses on the falsification of research results. Inducement fraud is broader and less precise. Because the false data directly affects the integrity of a funded study, research misconduct is the best answer.
NEW QUESTION # 348
Karen is investigating an anonymous tip within Magenta Company that a billing scheme might be occurring in the Purchasing Department. Which of the following steps would be MOST EFFECTIVE in helping Karen discover whether billing fraud is occurring?
Answer: B
Explanation:
The correct answer is A. Billing schemes often exploit weak segregation of duties in purchasing, receiving, and payment functions. If one person or department can request goods, approve receipt, authorize payment, and process invoices without independent verification, fictitious invoices, pass-through schemes, personal purchases, or inflated vendor billings are easier to conceal. Karen should therefore determine whether these functions operate independently. Option B is not the strongest choice as written because identifying employees with the same phone number does not directly test vendor billing fraud. Customer complaints about sales policies relate to revenue or consumer issues, not purchasing fraud. Accounts receivable and credit sales analysis is more relevant to revenue fraud. The ACFE materials classify billing schemes under fraudulent disbursements and emphasize purchasing, receiving, and invoice controls.
NEW QUESTION # 349
......
Exam4Free delivers up to date CFE-Fraud-Schemes-and-Financial-Crimes exam products and modify them time to time. Latest CFE-Fraud-Schemes-and-Financial-Crimes exam questions are assembled in our practice test modernizes your way of learning and replaces the burdensome preparation techniques with flexible learning. We accord you an actual exam environment simulated through our practice test sessions that proves beneficial for CFE-Fraud-Schemes-and-Financial-Crimes Exams preparation. Our CFE-Fraud-Schemes-and-Financial-Crimes practice tests provide you knowledge and confidence simultaneously. Candidates who run across the extensive search, Exam4Free products are the remedy for their worries. Once you have chosen for our CFE-Fraud-Schemes-and-Financial-Crimes practice test products, no more resources are required for exam preparation.
CFE-Fraud-Schemes-and-Financial-Crimes Test Dumps Demo: https://www.exam4free.com/CFE-Fraud-Schemes-and-Financial-Crimes-valid-dumps.html