CFE-Fraud-Schemes-and-Financial-Crimes Exam Reviews, Online CFE-Fraud-Schemes-and-Financial-Crimes Tests

The ACFE CFE-Fraud-Schemes-and-Financial-Crimes Certification is a valuable certificate that is designed to advance the professional career. With the Certified Fraud Examiner -Fraud Schemes and Financial Crimes (CFE-Fraud-Schemes-and-Financial-Crimes) certification exam seasonal professionals and beginners get an opportunity to demonstrate their expertise. The Certified Fraud Examiner -Fraud Schemes and Financial Crimes certification exam recognizes successful candidates in the market and provides solid proof of their expertise.

ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:

SectionObjectives
Fraud Schemes- Fraudulent Disbursements
  • 1. Billing schemes
    • 2. Check tampering
      • 3. Billing shell companies
        - Asset Misappropriation Schemes
        • 1. Expense reimbursement fraud
          • 2. Payroll fraud
            • 3. Cash theft and skimming
              • 4. Inventory and asset theft
                Financial Crimes- Financial Statement Fraud
                • 1. Expense understatement
                  • 2. Asset overstatement
                    • 3. Revenue manipulation
                      - Corruption Schemes
                      • 1. Bribery
                        • 2. Conflicts of interest
                          • 3. Kickbacks
                            - Money Laundering
                            • 1. Layering stage
                              • 2. Integration stage
                                • 3. Placement stage

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                                  ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions (Q112-Q117):

                                  NEW QUESTION # 112
                                  Which of the following methods is NOT used to detect conflicts of interest?

                                  Answer: C

                                  Explanation:
                                  Detailed Explanation:
                                  * Rationale for Correct Answer: Conflict of interest is often uncovered through proactive investigative methods such as tips, vendor ownership review, and employee interviews. Underbilling schemes, however, relate to Financial Statement Fraud and Revenue Recognition Manipulation , not conflict of interest detection.
                                  * Analysis of Incorrect Options:
                                  * A. Tips & Complaints - Common detection method; many corruption schemes are revealed this way.
                                  * B. Review of vendor ownership files - Critical to identify hidden ownership ties.
                                  * D. Interviews with purchasing personnel - Helps detect suspicious relationships or favoritism.
                                  * Key Concept: Detection of Conflict of Interest schemes .
                                  Reference: ACFE Fraud Examiners Manual (2020) , Corruption: Detection of Conflicts of Interest .


                                  NEW QUESTION # 113
                                  Kara owns a business selling rare goods. Some of the goods Kara sells are of high value, but she reports significantly lower values to the taxing authority for those transactions. Which of the following options BEST describes Kara's scheme?

                                  Answer: A

                                  Explanation:
                                  Kara's conduct is best classified as a consumption tax scheme because she is underreporting the taxable value of sales transactions. Consumption taxes include sales tax, value-added tax, and excise taxes collected from the sale of goods or services. The ACFE material explains that fraudsters evade consumption taxes by omitting transactions or deflating transaction values in tax records. Here, Kara does not merely hide wealth or claim false deductions; she misstates the value of goods sold so the tax authority calculates less tax than is owed. Wealth tax evasion concerns assets or net worth, while tax credit and deduction schemes involve improper reductions of tax liability through credits or expenses.


                                  NEW QUESTION # 114
                                  __________ are the amounts which are owed to other entities:

                                  Answer: B

                                  Explanation:
                                  Detailed Explanation:
                                  * Rationale for Correct Answer: Liabilities are defined as obligations to transfer assets or provide services to other entities in the future as a result of past transactions. They represent what the organization owes, distinguishing them from assets.
                                  * Analysis of Incorrect Options:
                                  * A. Supplies - Assets consumed within a year, not obligations.
                                  * B. Expenses - Costs incurred, but not necessarily amounts owed.
                                  * C. Assets - Resources owned, not obligations.
                                  * Key Concept: Definition of Liabilities in accounting.
                                  Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Accounting Concepts - Assets and Liabilities .


                                  NEW QUESTION # 115
                                  Which of the following recommendations for individuals is likely to be MOST EFFECTIVE in preventing identity theft?

                                  Answer: C

                                  Explanation:
                                  The correct answer is A. Creating answers to security questions using unique, nonpublic details helps prevent identity thieves from bypassing account protections. Many security-question answers, such as a mother's maiden name, school name, pet name, or birthplace, can be discovered through social media, public records, or data breaches. Using answers that cannot be easily verified through public sources makes account recovery processes harder to exploit. Option B is weak because passwords and passphrases should not be reused across accounts at all. Option C is unsafe because email can be intercepted or misdirected, even when contacting reputable organizations. Option D is inadequate because moving files to the recycle bin does not securely erase data from a device before disposal.


                                  NEW QUESTION # 116
                                  Which of the following is NOT a method for stealing inventory and other assets?

                                  Answer: A

                                  Explanation:
                                  Detailed Explanation:
                                  * Rationale for Correct Answer: Recognized schemes for stealing inventory include:
                                  * Larceny schemes (direct theft)
                                  * Asset requisition and transfer schemes (false requisitions to divert assets)
                                  * Purchasing and receiving schemes (over-ordering or falsifying deliveries).
                                  " Sales & Equipment handling " is not a defined fraud scheme, making D correct.
                                  * Analysis of Incorrect Options:
                                  * A. Larceny schemes - Valid theft method.
                                  * B. Asset requisition and transfer - Document manipulation method.
                                  * C. Purchasing and receiving schemes - Valid misappropriation scheme.
                                  * Key Concept: Inventory theft schemes under the Fraud Tree.
                                  Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Inventory and Other Assets - Theft Schemes .


                                  NEW QUESTION # 117
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