Try our best to get the related CFE-Fraud-Schemes-and-Financial-Crimes certification is the best way to show our professional ability, however, the exam is hard nut to crack and there are so many CFE-Fraud-Schemes-and-Financial-Crimes preparation questions related to the exam, it seems impossible for us to systematize all of the key points needed for the exam by ourselves. We would like to help you out with the CFE-Fraud-Schemes-and-Financial-Crimes Training Materials compiled by our company. There are so many strong points of our CFE-Fraud-Schemes-and-Financial-Crimes training materials, you will be bound to pass the CFE-Fraud-Schemes-and-Financial-Crimes exam with high scores.
| Section | Objectives |
|---|---|
| Financial Crimes | - Corruption Schemes
|
| Fraud Schemes | - Fraudulent Disbursements
|
>> CFE-Fraud-Schemes-and-Financial-Crimes Reliable Exam Voucher <<
A steadily rising competition has been noted in the tech field. Countless candidates around the globe aspire to be Certified Fraud Examiner -Fraud Schemes and Financial Crimes in this field. ACFE CFE-Fraud-Schemes-and-Financial-Crimes stand out from the rest of the ACFE professionals. Once you become ACFE certified, a whole new scope opens up to you and you are immediately hired by reputed firms. Even though the Certified Fraud Examiner -Fraud Schemes and Financial Crimes boosts your career options, you have to pass the CFE-Fraud-Schemes-and-Financial-Crimes Exam. This Certified Fraud Examiner -Fraud Schemes and Financial Crimes exam serves to filter out the capable from incapable candidates.
NEW QUESTION # 258
Which of the following scenarios is an example of an economic extortion scheme?
Answer: A
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Economic extortion occurs when someone demands payment or benefit under threat of harm (explicit or implicit). A government official demanding money in exchange for awarding a contract is classic extortion.
* Analysis of Incorrect Options:
* A - This is a billing scheme (fraudulent disbursement), not extortion.
* C - This is a kickback scheme (corruption).
* D - This is an illegal gratuity scheme (reward after action).
* Key Concept: Types of corruption-extortion vs. bribery vs. gratuities.
Reference: ACFE Manual, Corruption - Economic Extortion .
NEW QUESTION # 259
A fraudster uses a victim's name, government identification number, and birthdate to impersonate the victim and open a credit card account in the victim's name. This scheme can BEST be described as:
Answer: D
Explanation:
Comprehensive and Detailed Explanation (Based on the ACFE Fraud Examiners Manual - Financial Transactions and Fraud Schemes) In the Identity Theft chapter of the Financial Transactions and Fraud Schemes section, the ACFE Manual explains that there are two primary methods of committing identity theft :
* Traditional identity theft
* Synthetic identity theft
These are listed under "Methods of Committing Identity Theft" (1.803) , immediately followed by "Types of Identity Theft Schemes" (1.804) such as financial identity theft and criminal identity theft.
1. Why the correct answer is Traditional identity theft (Option B)
In traditional identity theft , the perpetrator uses the real, complete identity of another person-such as their name, government identification number, and birthdate -to impersonate that person for fraudulent purposes. This is exactly what is happening in the question:
The fraudster uses a real victim's name, government identification number, and birthdate to open a credit card account in the victim's name.
This matches the Manual's categorization where traditional identity theft involves misuse of actual personal identifying information (PII) belonging to a real individual, rather than fabricating an identity. The Manual then explains that this stolen identity is often used in financial schemes , such as obtaining credit cards, loans, or other financial benefits, which falls under financial identity theft as a type of identity theft scheme.
So, in ACFE terms, the method is traditional identity theft , and the scheme type is financial identity theft (using another person's identity to obtain credit or other financial benefits).
2. Why the other options are incorrect
Option A - New account identity theft
"New account identity theft" is a descriptive phrase sometimes used in practice to describe opening new credit accounts in another person's name, but the ACFE Manual's formal categorization focuses on:
* Methods of committing identity theft:
* Traditional identity theft
* Synthetic identity theft
* Types of identity theft schemes:
* Financial identity theft
* Criminal identity theft
* Medical identity theft
* Insurance identity theft
* Tax identity theft
* Employment identity theft
* Business identity theft
"New account identity theft" is not one of the defined method categories in the Manual; the described conduct is captured under traditional identity theft (method) and financial identity theft (scheme type). Therefore, this option does not align with the ACFE's terminology tested on the CFE exam.
Option C - Synthetic identity theft
The Manual distinguishes synthetic identity theft as a different method. Under "Methods of Committing Identity Theft" (1.803) , it explains that synthetic identity theft involves combining real elements of identity (for example, a genuine government identification number) with fabricated or unrelated information (such as a made-up name, date of birth, or address) to create a partly fictitious identity .
In the question, the fraudster is not creating a hybrid or composite identity. They are using all of the real victim's identifying information (name, government ID number, birthdate) and posing directly as that person. That is traditional , not synthetic.
Option D - Criminal identity theft
Under "Types of Identity Theft Schemes" (1.804-1.805) , the Manual describes criminal identity theft as a scheme where a fraudster gives someone else's identifying information to law enforcement or in criminal justice contexts , so that the victim's identity is attached to the criminal record or charges .
Typical examples include:
* Giving another person's name and identification details when stopped or arrested
* Causing warrants or criminal records to be issued in the victim's name In the question scenario, the fraudster is not interacting with law enforcement or shifting criminal records to the victim. Instead, they are opening a credit card account , which is a financial use of the stolen identity.
Therefore, it fits financial identity theft as a scheme type, but traditional identity theft as the method.
NEW QUESTION # 260
Which of the following items do NOT appear on the balance sheet?
Answer: C
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Expenses appear on the income statement , not the balance sheet.
The balance sheet includes assets, liabilities, and owners' equity, representing the accounting equation.
* Analysis of Incorrect Options:
* A, B, D - All appear on the balance sheet.
* Key Concept: Distinction between financial statements: balance sheet vs. income statement.
Reference: ACFE Manual, Accounting Concepts - Financial Statement Structure .
NEW QUESTION # 261
Theft of incoming checks usually occurs when ________ is (are) in charge of opening the mail and recording the receipt of payments.
Answer: C
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: When a single employee is responsible for opening the mail and recording payments, the risk of theft of incoming checks is greatest. This lack of segregation of duties allows one person both custody of funds and recordkeeping authority, a classic internal control weakness.
* Analysis of Incorrect Options:
* B & C - Involving two or more employees provides better segregation of duties, reducing the risk.
* D. None of the above - Incorrect since option A directly matches.
* Key Concept: Segregation of duties to prevent skimming/theft of incoming checks.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Cash Receipts - Theft of Incoming Payments .
NEW QUESTION # 262
Which of the following is true for red flags associated with fictitious revenues?
Answer: B
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: One of the key red flags of fictitious revenues is sales to related parties, shell companies, or entities with unknown substance and ownership . Such transactions are often used to inflate revenue artificially.
* Analysis of Incorrect Options:
* A. Slow growth/unusual profitability - Incorrect, fictitious revenue often results in rapid or unrealistic growth.
* B. Growth in days' purchases in receivables - Misstated phrase; correct indicator would be growth in days' sales in receivables .
* D. Surge in purchases - Relates more to inventory fraud than fictitious revenues.
* Key Concept: Red flags of fictitious revenue - questionable counterparties and unrealistic sales growth.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Financial Statement Fraud - Red Flags of Fictitious Revenues .
NEW QUESTION # 263
......
The Certified Fraud Examiner -Fraud Schemes and Financial Crimes (CFE-Fraud-Schemes-and-Financial-Crimes) certification exam is a valuable credential that is designed to validate the candidates' skills and knowledge level. The CFE-Fraud-Schemes-and-Financial-Crimes certification exam is one of the high in demand industrial recognized credentials to prove your skills and knowledge level. With the ACFE CFE-Fraud-Schemes-and-Financial-Crimes Certification Exam everyone can upgrade their skills and become competitive and updated in the market.
CFE-Fraud-Schemes-and-Financial-Crimes Actual Tests: https://www.actual4dump.com/ACFE/CFE-Fraud-Schemes-and-Financial-Crimes-actualtests-dumps.html