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ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:
1. Which of the following is NOT a measure that is commonly taken by fraudsters during account takeover schemes?
A) Using log-in credentials that have been stolen from one account to attempt to gain access to other payment accounts
B) Obtaining email addresses and other account log-in information by sending phishing emails
C) Placing orders for products or transferring funds from the overtaken accounts
D) Ensuring that the contact information for the overtaken account remains the same to avoid alerting the true account holder
2. Baker, an employee of ABC Corporation, is the only employee who has control of the purchasing function for his department. Baker authorizes an order for supplies that ABC does not need and uses these supplies to make improvements to his house. This is an example of what kind of fraud?
A) Theft of inventory
B) Pay-and-return scheme
C) Pass-through scheme
D) Personal purchases with company funds
3. By what accountant means that the financial figures presented by the company are at least as much as reflected in the statements, if not more.
A) Matching
B) Conservatism
C) Fraudulent statement
D) Misappropriations
4. When a victim company purchases unnecessary goods or services from a supplier at the direction of the corrupt employee, this results in:
A) Presolicitation scheme
B) Submission scheme
C) False sole-source scheme
D) Need recognition scheme
5. 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:
A) Cost value
B) Fair value
C) Absolute value
D) Material value
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: B | Question # 4 Answer: D | Question # 5 Answer: B |


