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| Section | Objectives |
|---|---|
| Topic 1: Financial Crimes | - Corruption Schemes
|
| Topic 2: Fraud Schemes | - Asset Misappropriation Schemes
|
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NEW QUESTION # 13
Every bribe is a two-sided transaction, in which where a vendor bribes a purchaser, there is someone on the vendor's side of the transaction who is not making an illicit payment.
Answer: B
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: This statement is False . Every bribe involves two willing parties :
one who offers and one who accepts the illicit payment. If one party is not making or accepting the payment, the transaction cannot be classified as a bribe.
* Analysis of Incorrect Options:
* A. True - Incorrect because both sides are complicit in bribery.
* Key Concept: Bribery requires two-sided participation.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Corruption - Bribery Elements .
NEW QUESTION # 14
A ___________ occurs when an employee, manager, or executive has an undisclosed economic or personal interest in a transaction that adversely affects the organization.
Answer: D
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: A conflict of interest occurs when an employee secretly has a personal or financial stake in a transaction, and that interest compromises their duty of loyalty to the employer. This is one of the four categories of corruption under the ACFE Fraud Tree.
* Analysis of Incorrect Options:
* B. Illegal sale - Not a fraud classification.
* C. Unauthorized purchase - Could describe asset misuse, not corruption.
* D. Financial disclosure - Relates to reporting, not the fraud itself.
* Key Concept: Conflict of interest schemes as a category of corruption.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Corruption - Conflicts of Interest
.
NEW QUESTION # 15
Security audits and tests, incident response plans, and separation of duties are all examples of which of the following types of cybersecurity controls?
Answer: D
Explanation:
Security audits and tests, incident response plans, and separation of duties are best classified as administrative security controls because they involve policies, procedures, monitoring, governance, and assignment of responsibilities. Administrative controls are designed to manage human behavior and organizational processes that support cybersecurity. The ACFE material discusses computer security controls, including separation of duties, security audits and tests, and incident response planning, as part of a broader control environment for preventing and detecting cyberfraud. Logical access controls focus on system permissions and authentication.
Physical access controls protect facilities and hardware. Technical controls are automated or technology- based safeguards. Since the listed items mainly involve procedures, oversight, and response planning, administrative security controls is the best answer.
NEW QUESTION # 16
In the fraud scale, pressure, opportunity, and integrity variables all result in a list of ___ possible red flags or indicators of occupational fraud and abuse.
Answer: D
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: W. Steve Albrecht's Fraud Scale introduced the relationship between pressure, opportunity, and integrity. He and his colleagues identified 81 red flags or behavioral indicators of occupational fraud and abuse based on these three dimensions. Therefore, the correct answer is A. 81 .
* Analysis of Incorrect Options:
* B. 82 / C. 83 / D. 84 - Distractors; none match the number identified in the fraud scale research.
* Key Concept: Fraud Scale - Red Flags of occupational fraud.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Fraud Theory - Albrecht's Fraud Scale .
NEW QUESTION # 17
One of the simplest ways to justify unacceptable conduct and avoid guilt feelings is to invent a good reason for ________.
Answer:
Explanation:
One's actions (i.e., Rationalization)
* Rationale for Correct Answer: Rationalization is the cognitive process by which fraud perpetrators justify their unethical conduct so they can commit fraud without feeling like criminals. A common way is to "invent a good reason" for their actions (e.g., "I deserve it," "I'll pay it back," "Everyone else is doing it"). Thus, the correct completion is "one's actions" or more precisely, Rationalization .
* Analysis of Incorrect Options: Since this is a fill-in-the-blank, the distractors are implied. The only correct concept here is rationalization of one's actions .
* Key Concept: Rationalization - one leg of the fraud triangle.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Fraud Theory - Rationalization in Cressey's Fraud Triangle .
NEW QUESTION # 18
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