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| Section | Weight | Objectives |
|---|---|---|
| Asset Misappropriation – Non-Cash Assets | 5–10% | - Concealment techniques - Misuse of assets - Inventory and equipment theft |
| Identity Theft | 1–5% | - Types and techniques - Prevention and detection |
| Asset Misappropriation – Cash Receipts | 5–10% | - Cash larceny schemes - Cash skimming schemes - Prevention and detection methods |
| Industry-Specific Financial Crimes | 15–25% | - Insurance fraud - Cyber-enabled and cryptocurrency fraud - Financial institution fraud - Healthcare fraud - Real estate and securities fraud |
| Financial Statement Fraud | 10–15% | - Detection and red flags - Timing and disclosure manipulations - Expense and liability understatements - Revenue and asset overstatements |
| Theft of Data and Intellectual Property | 5–10% | - Safeguarding proprietary information - Corporate espionage - Data and IP theft methods |
| Corruption Schemes | 5–10% | - Illegal gratuities and extortion - Bribery and kickbacks - Conflicts of interest |
| Asset Misappropriation – Cash Disbursements | 10–15% | - Expense reimbursement schemes - Check and payment tampering - Billing schemes - Payroll schemes |
| Accounting Concepts | 5–10% | - Recording and summarizing transactions - Internal control fundamentals - Financial statements structure - Basic accounting principles |
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NEW QUESTION # 131
Skylar messages Timothy on a social media platform even though they have never met and expresses romantic interest. When Timothy responds, Skylar asks him to move the conversation to an outside messaging platform, and they develop a romantic relationship over several months through their communications. During this time, Skylar never requests that Timothy send her money or items of value, but she does convince him to make several large purchases of cryptocurrencies through a new cryptocurrency exchange. When Timothy tries to sell the cryptocurrency at a profit and withdraw his funds, Skylar stops responding to his messages, and he discovers the cryptocurrency exchange did not actually exist. Timothy is a victim of:
Answer: C
Explanation:
Timothy is a victim of a pig butchering scheme. This scam combines long-term relationship manipulation with fraudulent investment activity, commonly involving cryptocurrency. The fraudster builds trust over weeks or months, moves the victim to a private messaging channel, and encourages investments through a fake platform. The victim often sees apparent gains, but the trading platform is controlled by the fraudster or does not exist. Once the victim attempts to withdraw funds, the fraudster disappears or demands more money.
This is not a Ponzi scheme because the facts do not involve paying old investors with new investor funds. It is not a pump-and-dump because no market manipulation of a traded security is described. It is broader than a simple advance-fee scheme.
NEW QUESTION # 132
Which of the following is NOT the reason to bribe employees of the purchaser?
Answer: A
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Bribes to purchasing employees often aim to:
* Ensure late bids are accepted,
* Extend deadlines unfairly,
* Or falsify bid logs. Bid-splitting , however, is a scheme performed to avoid approval thresholds and does not require bribery of purchasing employees.
* Analysis of Incorrect Options:
* A. Receipt of late bid - Real reason to bribe.
* B. Extend opening date - Real reason to bribe.
* D. Falsify bid log - Real reason to bribe.
* C. Ensure bid-splitting - Not a bribery motivation.
* Key Concept: Bribery motivations in procurement fraud.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Corruption - Bribery Schemes in Procurement .
NEW QUESTION # 133
Which of the following can constitute a bribe, even if the illicit payment is never actually made?
Answer: C
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Under anti-bribery laws and fraud examination principles, the offer of a payment itself may constitute a bribe, regardless of whether money changes hands. Intent to improperly influence is enough to establish bribery.
* Analysis of Incorrect Options:
* B. Corruption in payment - Too vague, not a legal element.
* C. Kickback payment - Requires an actual payment; not just an offer.
* D. Overbilling in payment - A disbursement scheme, not a bribe.
* Key Concept: Bribery offense can occur upon the offer alone.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Corruption - Bribery Elements .
NEW QUESTION # 134
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 # 135
The price of an asset on which the asset is selling at on the open market in a transaction between a willing buyer and a willing seller is called:
Answer: C
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Fair value is defined as the price an asset would fetch in an orderly transaction between willing market participants. It reflects current market conditions, not historical cost.
* Analysis of Incorrect Options:
* A. Absolute value - Mathematical concept, not accounting.
* C. Cost value - Historical cost, not current market.
* D. Material value - Not a recognized accounting term.
* Key Concept: Fair Value Measurement under GAAP/IFRS.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Accounting Concepts - Fair Value .
NEW QUESTION # 136
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