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ACFE CFE-Fraud-Prevention-and-Deterrence Exam Overview:
| Certification Vendor: | ACFE |
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| Exam Name: | Certified Fraud Examiner - Fraud Prevention and Deterrence Exam |
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| Exam Number: | CFE |
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| Passing Score: | 75% |
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| Certificate Validity Period: | Not specified |
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| Available Languages: | English |
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| Real Exam Qty: | 100 |
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| Exam Duration: | 120 minutes |
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| Related Certifications: | Certified Fraud Examiner (CFE) |
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| Exam Format: | Multiple-choice |
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| Exam Price: | $450 |
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| Sample Questions: | ACFE CFE-Fraud-Prevention-and-Deterrence Sample Questions |
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| Exam Way: | Online or at a testing center |
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| Pre Condition: | Requires a combination of professional experience and points-based qualification system (minimum 40 points to sit for the exam, 50 points for certification). |
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| Official Syllabus URL: | https://www.acfe.com/cfe-credential/about-the-cfe-exam.aspx |
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ACFE CFE-Fraud-Prevention-and-Deterrence Certification is a valuable credential for professionals who work in fraud prevention and detection. Certified Fraud Examiner - Fraud Prevention and Deterrence Exam certification demonstrates expertise in the field and can lead to career advancement and increased earning potential. Organizations can also benefit from having certified professionals on staff, as they can help prevent and detect fraud and enhance the organization's reputation.
ACFE Certified Fraud Examiner - Fraud Prevention and Deterrence Exam Sample Questions (Q18-Q23):
NEW QUESTION # 18
Which of the following is NOT a purpose served by a professional organization's code of conduct?
- A. It facilitates practical enforcement and profession-wide Internal discipline.
- B. It replaces the need for individuals to consult their own conscience.
- C. It serves as a reference and benchmark for ethical guidance
- D. It provides more direct solutions to professional ethical dilemmas than might exist under general ethical principles
Answer: B
Explanation:
* Purpose of a Code of Conduct:
* A professional code of conduct serves as a guideline for ethical behavior, provides benchmarks for decision-making, and facilitates enforcement within the profession.
* It does not replace the personal responsibility to exercise individual judgment and consult one's conscience.
* Analysis of Other Options:
* B, C, and D: These accurately describe the purposes of a professional code of conduct.
* Conclusion:The code of conduct does not eliminate the need for personal ethical reflection, making Option A incorrect.
NEW QUESTION # 19
(Which of the following factors has contributed to the rising problem of economic crime according to Crimes of the Middle Classes?)
- A. The decrease in funds available from government assistance programs
- B. Advertising's message that it is okay to settle for second best
- C. The increased regulatory constraints on businesses
- D. The economy's increased reliance on credit
Answer: D
Explanation:
In the White-Collar Crime chapter, the manual's discussion of Crimes of the Middle Classes identifies several factors contributing to the rising problem of economic crime. One of the specific factors mentioned is that the economy increasingly runs on credit, which often leads to rising personal debt. The manual notes that offenders frequently showed serious discrepancies between their resources and their commitments, and it further explains that the easy availability of money and goods on credit can fuel fraud schemes. This directly supports option B. The other answer choices do not reflect the factors listed in the manual. Therefore, the correct answer is the economy's increased reliance on credit.
NEW QUESTION # 20
Which of the following is TRUE regarding proactive fraud auditing procedures?
- A. Implementing proactive fraud audit procedures demonstrates the organization's intention to aggressively look for possible fraudulent conduct.
- B. Analytical review of the financial statements is best used to uncover small frauds that might be missed by other detection methods.
- C. Fraud assessment Questioning techniques are most appropriately used when attempting to determine who might be responsible for a particular fraud scheme.
- D. Surprise audit procedures are an effective fraud detection mechanism, but they do not help prevent fraud
Answer: D
NEW QUESTION # 21
Which of the following statements is TRUE according to rational choice theory?
- A. Crime can be deterred by increasing the personal benefit to potential perpetrators.
- B. Crime originates from an instinctual response to external stimuli without any rational or conscious decision by the perpetrator.
- C. Crime can be deterred by decreasing the personal risk to potential perpetrators.
- D. Crime originates from a rational and conscious decision made by the perpetrator in order to receive an intended benefit.
Answer: D
Explanation:
Rational choice theory posits that crime is a deliberate and rational decision made by individuals who weigh the costs and benefits of their actions. Perpetrators commit crimes when they believe the potential benefits outweigh the risks. This theory also supports deterrence measures that increase the perceived risks or reduce the benefits of committing crimes, thereby discouraging rational actors from engaging in fraudulent behavior.
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NEW QUESTION # 22
ABC. Inc. is a publicly traded, multi-national corporation. Which of the following statements is TRUE regarding the corporate governance requirements that ABC is subject to?
- A. ABC must comply with specific listing standards for the stock exchange(s) on which it is listed
- B. ABC is not required to comply with any corporate governance requirements because it operates in multiple jurisdictions
- C. ABC is subject to the Universal Corporate Governance Act because it is a publicly traded corporation.
- D. ABC is required to comply with G20/OECD Principles of Corporate Governance
Answer: A
Explanation:
* Corporate Governance Requirements for Public Corporations:
* Publicly traded companies must adhere to the listing standards of the stock exchanges where their shares are traded (e.g., NYSE or NASDAQ).
* B. G20/OECD Principles: These are guidelines, not binding requirements.
* C. No requirements: Incorrect; corporate governance regulations apply regardless of jurisdiction.
* D. Universal Corporate Governance Act: No such act exists globally.
* Conclusion:Public corporations must comply with stock exchange-specific listing standards.
References:Corporate governance standards and listing requirements.
NEW QUESTION # 23
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