Passing the Certified Fraud Examiner -Fraud Schemes and Financial Crimes CFE-Fraud-Schemes-and-Financial-Crimes exam is your best career opportunity. The rich experience with relevant certificates is important for enterprises to open up a series of professional vacancies for your choices. Our ACFE CFE-Fraud-Schemes-and-Financial-Crimes learning quiz bank and learning materials look up the latest CFE-Fraud-Schemes-and-Financial-Crimes questions and answers based on the topics you choose.
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Corruption Schemes | 5–10% | - Bribery and kickbacks - Illegal gratuities and extortion - Conflicts of interest |
| Topic 2: Financial Statement Fraud | 10–15% | - Detection and red flags - Expense and liability understatements - Timing and disclosure manipulations - Revenue and asset overstatements |
| Topic 3: Identity Theft | 1–5% | - Prevention and detection - Types and techniques |
| Topic 4: Asset Misappropriation – Non-Cash Assets | 5–10% | - Concealment techniques - Inventory and equipment theft - Misuse of assets |
| Topic 5: Theft of Data and Intellectual Property | 5–10% | - Data and IP theft methods - Corporate espionage - Safeguarding proprietary information |
| Topic 6: Accounting Concepts | 5–10% | - Internal control fundamentals - Financial statements structure - Recording and summarizing transactions - Basic accounting principles |
| Topic 7: Asset Misappropriation – Cash Receipts | 5–10% | - Cash skimming schemes - Prevention and detection methods - Cash larceny schemes |
| Topic 8: Industry-Specific Financial Crimes | 15–25% | - Financial institution fraud - Healthcare fraud - Real estate and securities fraud - Cyber-enabled and cryptocurrency fraud - Insurance fraud |
| Topic 9: Asset Misappropriation – Cash Disbursements | 10–15% | - Payroll schemes - Billing schemes - Check and payment tampering - Expense reimbursement schemes |
>> Valid CFE-Fraud-Schemes-and-Financial-Crimes Exam Bootcamp <<
Dreaming to be a certified professional in this line? Our CFE-Fraud-Schemes-and-Financial-Crimes study materials are befitting choices. We made real test materials in three accessible formats for your inclinations. (PDF, APP, software). Our website is an excellent platform, which provides the questions of these versions of our CFE-Fraud-Schemes-and-Financial-Crimes Exam Questions compiled by experts. By browsing this website, all there versions of our CFE-Fraud-Schemes-and-Financial-Crimes pratice engine can be chosen according to your taste or preference.
NEW QUESTION # 45
Which of the following statements regarding measures for detecting a cash larceny scheme is MOST ACCURATE?
Answer: D
Explanation:
The correct answer is C. Cash larceny involves stealing cash after it has been recorded, so detection often depends on tracing recorded cash activity to source documents and bank deposits. Reviewing, analyzing, and tracing journal entries made to cash accounts helps identify unsupported adjustments, unusual entries, concealment entries, or discrepancies between accounting records and actual cash activity. Option A is weak because the person responsible for cash receipts should not perform independent comparisons; segregation of duties is important. Option B is incorrect because cash receipt listings should be prepared and controlled before they reach accounts receivable personnel. Option D is also improper because cashiers should not independently reconcile their own register activity. Independent review is essential for detecting cash larceny.
NEW QUESTION # 46
Which of the following scenarios describes a card skimming or shimming scheme?
Answer: D
Explanation:
Option A describes a card skimming or shimming scheme. Skimming involves using a hidden device to capture payment card information, often from a magnetic stripe, while shimming commonly involves a device inserted into a card reader to capture chip-card data. A small camera can also be used to record PIN entry.
Automated teller machines and point-of-sale terminals are common targets because customers insert or swipe cards and enter authentication data. Option B involves theft or sale of card information but not skimming or shimming through a reader. Option C describes physical card theft or retention. Option D does not clearly show capture of card credentials. The ACFE material discusses ATM fraud, including skimming and shimming, as financial institution fraud risks.
NEW QUESTION # 47
Which of the following is the MOST APPROPRIATE technique for detecting a nonconforming goods or services scheme?
Answer: B
Explanation:
The ACFE Fraud Examiners Manual addresses Nonconforming Goods or Services under Contract and Procurement Fraud . The Manual states that, to detect nonconforming schemes, the fraud examiner should examine contract specifications, contractor statements, invoices, supporting documents, the received product, and test and inspection results for discrepancies with contract specifications. It then specifically adds:
"Additionally, to detect nonconforming schemes, the fraud examiner should:
* Review correspondence and contract files for indications of noncompliance.
* Request assistance from outside technical personnel to conduct after-the-fact tests." This language matches Option B exactly, so it is the most appropriate detection technique.
Why the other options are incorrect
A). Interviewing complaining contractors and unsuccessful bidders about the presence of red flags This is a detection technique the Manual associates with change order abuse , not nonconforming goods or services schemes.
C). Comparing the direct and indirect labor account totals from the prior year to the current year This type of comparative cost analysis is more consistent with testing for cost mischarging or other accounting irregularities, not the primary detection methods for nonconforming goods/services. The Manual's nonconforming-scheme detection guidance focuses on specifications, inspection results, product testing, and contract/correspondence review.
D). Determining if the costs of the contract have exceeded or are expected to exceed the value of the contract That is not identified by the Manual as the most appropriate method for detecting nonconforming goods or services. Again, the Manual directs the examiner to look for noncompliance with specifications and supporting documentation.
References
* ACFE Fraud Examiners Manual, 2020 International Edition
* Contract and Procurement Fraud - Nonconforming Goods or Services
* Detecting Nonconforming Goods or Services Schemes
* Related contrast: Detecting Change Order Abuse
NEW QUESTION # 48
Georgina works for TAK Intelligence, a competitive intelligence firm. She is tasked with gathering intelligence about ERO Corp., a competitor of one of TAK's clients. To gather the intelligence, Georgina poses as a customer and contacts ERO. She then elicits sensitive information from an ERO employee.
Georgina's approach is an example of:
Answer: B
Explanation:
Why the correct answer is Human Intelligence
The ACFE Fraud Examiners Manual , in the section on fraud examination tools and intelligence gathering , discusses methods of obtaining information from individuals. One of the recognized methods is Human Intelligence (HUMINT) .
The Manual explains that human intelligence gathering involves:
Collecting information directly from people-often through conversation, elicitation, or interviews- sometimes while using a pretext to encourage the target to disclose information.
In this scenario:
* Georgina poses as a customer (a pretext),
* Contacts an employee of ERO Corp., and
* Elicits sensitive information directly from that individual.
This aligns perfectly with the definition of human intelligence gathering -information obtained directly from human sources , often under false pretenses.
Why the other options are incorrect
B). Scavenging - Incorrect
The Manual describes scavenging as:
Obtaining information by searching for discarded documents or materials, such as in trash or recycling bins.
Georgina is not going through discarded materials; she is speaking directly with an employee.
C). Baiting - Incorrect
Baiting typically refers to:
Enticing someone with something of value to trick them into taking an action, often involving malware- infected media or fraudulent offers.
Georgina is not offering anything or luring the employee with incentives.
D). Open-source intelligence - Incorrect
Open-source intelligence (OSINT) refers to gathering information from:
Publicly available sources such as websites, publications, databases, or social media.
Georgina is not using public sources; she is actively eliciting confidential information from a person under false pretenses.
ACFE Manual References
The concepts used in this answer derive from the Fraud Examiners Manual (2020 International Edition), including:
* Human intelligence and data collection techniques
* Scavenging as an investigative method
* Baiting schemes
* Open-source intelligence descriptions
NEW QUESTION # 49
All the following are basic methods used to prove corrupt payments in corruption schemes EXCEPT:
Answer: B
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: The Fraud Examiners Manual (2020) highlights document reviews, audit tracing, financial analysis, and inside witnesses as the primary methods of proving corrupt payments. Secret infiltration is not a standard fraud examination technique; it is more aligned with law enforcement undercover operations.
* Analysis of Incorrect Options:
* A. Taxation inquiries - A valid method to confirm payment sources.
* C. Inside witness - Valuable evidence in corruption cases.
* D. Tracing payments - Fundamental audit step in proving illicit payments.
* Key Concept: Proving corrupt payments - standard audit and investigative methods.
Reference: ACFE Fraud Examiners Manual (2020) , Corruption: Detection and Proof of Bribery .
NEW QUESTION # 50
......
The ExamDiscuss is one of the leading platforms that have been offering valid, updated, and real ACFE CFE-Fraud-Schemes-and-Financial-Crimes exam dumps for many years. The Certified Fraud Examiner -Fraud Schemes and Financial Crimes CFE-Fraud-Schemes-and-Financial-Crimes practice test questions offered by the ExamDiscuss are designed and verified by experienced ACFE CFE-Fraud-Schemes-and-Financial-Crimes Certification Exam trainers. They work together and put all their expertise to ensure the top standard of Certified Fraud Examiner -Fraud Schemes and Financial Crimes CFE-Fraud-Schemes-and-Financial-Crimes valid dumps.
CFE-Fraud-Schemes-and-Financial-Crimes Exam Tutorial: https://www.examdiscuss.com/ACFE/exam/CFE-Fraud-Schemes-and-Financial-Crimes/