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| Section | Weight | Objectives |
|---|---|---|
| Theft of Data and Intellectual Property | 5–10% | - Corporate espionage - Data and IP theft methods - Safeguarding proprietary information |
| Asset Misappropriation – Non-Cash Assets | 5–10% | - Misuse of assets - Inventory and equipment theft - Concealment techniques |
| Corruption Schemes | 5–10% | - Conflicts of interest - Illegal gratuities and extortion - Bribery and kickbacks |
| Asset Misappropriation – Cash Disbursements | 10–15% | - Expense reimbursement schemes - Check and payment tampering - Payroll schemes - Billing schemes |
| Financial Statement Fraud | 10–15% | - Detection and red flags - Timing and disclosure manipulations - Revenue and asset overstatements - Expense and liability understatements |
| Industry-Specific Financial Crimes | 15–25% | - Financial institution fraud - Healthcare fraud - Insurance fraud - Cyber-enabled and cryptocurrency fraud - Real estate and securities fraud |
| Asset Misappropriation – Cash Receipts | 5–10% | - Cash skimming schemes - Prevention and detection methods - Cash larceny schemes |
| Identity Theft | 1–5% | - Types and techniques - Prevention and detection |
| Accounting Concepts | 5–10% | - Basic accounting principles - Financial statements structure - Recording and summarizing transactions - Internal control fundamentals |
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NEW QUESTION # 222
Which of the following is an example of a technical security control that organizations can use to secure computer systems and communication networks?
Answer: C
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Technical security controls include software- and hardware-based measures such as application security, firewalls, and encryption . Application security protects against vulnerabilities in the programs employees use.
* Analysis of Incorrect Options:
* B. Human audits - Administrative control, not technical.
* C. Penetration testing - A detective measure/test, not a control itself.
* D. Data security - A broad goal, not a specific technical control.
* Key Concept: Technical security controls for preventing cyberfraud.
Reference: ACFE Fraud Examiners Manual (2020) , Computer and Internet Fraud: Security Controls .
NEW QUESTION # 223
Which of the following statements about skimming is CORRECT?
Answer: D
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Skimming is the theft of incoming cash before it is recorded in the books . Since the payment is never recorded, no audit trail exists, making it an "off-book" scheme.
* Analysis of Incorrect Options:
* A - Incorrect; skimming can involve both sales and receivable payments.
* C - Incorrect; skimming is off-book , not on-book.
* D - Incorrect; skimming is typically harder to detect than larceny, since there is no record.
* Key Concept: Skimming vs. larceny - off-book theft of cash receipts.
Reference: ACFE Manual, Cash Receipts - Skimming Schemes .
NEW QUESTION # 224
___________ allows the fraud examiner to inspect key attributes on a smaller portion (or sample) of those documents.
Answer:
Explanation:
Sampling
* Rationale for Correct Answer: Sampling is a fraud examination technique that enables investigators to review a subset of documents rather than all records. Properly designed sampling provides reasonable assurance and allows focus on anomalies or red flags.
* Key Concept: Sampling in fraud examination and audit testing.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Fraud Examination Techniques
- Sampling and Document Review .
NEW QUESTION # 225
Which of the following is a reason why prepaid debit and gift card fraud schemes are appealing to fraudsters?
Answer: D
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Prepaid debit and gift cards are attractive because they allow fraudsters to convert stolen credit card funds into cash or easily launder illicit funds . They are widely available and accepted both in person and online, making option A correct.
* Analysis of Incorrect Options:
* B. Only from financial institutions - False; cards are sold at retail stores and online.
* C. Not accepted online - False; they are accepted by most online retailers.
* D. All of the above - Incorrect since B and C are false.
* Key Concept: Prepaid card fraud as part of asset misappropriation and identity theft schemes.
Reference: ACFE Fraud Examiners Manual (2020) , Fraudulent Disbursements and Payment Cards .
NEW QUESTION # 226
When an employee processes a fictitious refund of goods for cash, which of the following consequences occurs?
Answer: B
Explanation:
The correct answer is C. In a fictitious refund scheme, an employee records a refund transaction even though no customer actually returned merchandise. The employee then removes cash from the register as if it had been paid to a customer. Because the register records a refund, the register log shows that cash should have decreased. When the employee steals the same amount of cash, the cash on hand can still match the register log, making the theft harder to detect through a simple register reconciliation. Option A is incorrect because fictitious refunds can cause inventory records to show returned goods that do not exist, which tends to overstate rather than understate inventory. Options B and D are incorrect because cash is removed and no real merchandise is returned.
NEW QUESTION # 227
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