Accurate Hot Selling CFE Exam Dumps 2025 Newly Released
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To be eligible for the CFE exam, candidates must have a minimum of a bachelor's degree from an accredited institution and two years of professional experience in a field related to fraud examination or a related area. Alternatively, candidates can substitute additional education or professional certifications for some of the required experience. Candidates must also agree to abide by the ACFE Code of Professional Ethics.
To qualify for the CFE certification, candidates must meet certain eligibility requirements, including having a minimum of two years of professional experience in a related field, such as accounting, law enforcement, or internal auditing. Candidates must also pass the CFE exam, which covers four main areas: Fraud Prevention and Deterrence, Financial Transactions and Fraud Schemes, Investigation, and Legal Elements of Fraud.
NEW QUESTION # 43
____________ is a process by which a bookkeeper records all transactions and can adjust the books.
- A. Journal Entries
- B. Accounting Cycle
- C. Financial statement
- D. None of all
Answer: A
NEW QUESTION # 44
Delivery has not occurred or services have not been rendered when:
- A. Neither A nor B
- B. Until installation and customer testing and acceptance has occurred.
- C. Both A & B
- D. A written order exists but contains a right of return.
Answer: D
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 45
___________ and __________ are used to increase (or decrease) the equity account.
- A. None of all
- B. Journal Entries & transactions
- C. Journal Entries & Credit
- D. Journal Entries & Debit
Answer: B
NEW QUESTION # 46
_________ normally are carried on an organization's books as expenses because they tend to be consumed by the organization within a year of purchase.
- A. Equity
- B. Expenses
- C. Assets
- D. Supplies
Answer: D
Explanation:
Section: Financial Transactions and Fraud Schemes
Explanation
NEW QUESTION # 47
Accounting records are designed to be kept on subjective rather than objective evidence.
- A. True
- B. False
Answer: B
NEW QUESTION # 48
The prime targets for skimming schemes which are hard to monitor and predict such as late fees and parking fees, are:
- A. Revenue sources
- B. Register manipulations
- C. Internal audits
- D. Recorded sales
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
Explanation/Reference:
NEW QUESTION # 49
SIMULATION
__________ means that traditional bribery statutes proscribe only payments made to influence the decisions of government agents or employees.
Answer:
Explanation:
Official act
NEW QUESTION # 50
When an incorrect total is carried from the journal to the ledger or from ledger to the financial statements, this method is called:
- A. None of all
- B. False balance
- C. Out-of-balance
- D. Forced Balance
Answer: D
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 51
Depreciation is especially applicable when companies try to overvalue their assets and net worth; the lower their depreciation expense, the higher the company's profits.
- A. False
- B. True
Answer: B
NEW QUESTION # 52
A shell company scheme in which actual goods or services are sold to the victim company is known as:
- A. Maintenance scheme
- B. Pass-through scheme
- C. Allocation scheme
- D. Distribution scheme
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 53
Which of the following is NOT the reason to bribe employees of the purchaser?
- A. To extend the bid opening date
- B. To ensure bid-splitting
- C. To ensure receipt of a late bid
- D. To falsify the bid log
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
Explanation/Reference:
NEW QUESTION # 54
__________ can be defined as conduct detrimental to the organization and to the employee.
- A. All of the above
- B. Employee fraud
- C. Employee theft
- D. Employee deviance
Answer: D
NEW QUESTION # 55
The more power a person has over the bidding process, the more likely the person can influence the selection of a supplier.
- A. False
- B. True
Answer: B
NEW QUESTION # 56
A process by which several bidders conspire to split contracts up and ensure that each gets a certain amount of work is called:
- A. Bid log
- B. Fictitious Bidding
- C. Bid pooling
- D. Bid opening
Answer: C
NEW QUESTION # 57
Fill in the Blanks
___________ allows the fraud examiner to inspect key attributes on a smaller portion (or sample) of those documents.
Answer:
Explanation:
Statistical sampling
NEW QUESTION # 58
Which of the following can constitute a bribe, even if the illicit payment is never actually made?
- A. Offering a payment
- B. Corruption in payment
- C. kickback payment
- D. Overbilling in payment
Answer: A
NEW QUESTION # 59
Financial statement fraud is committed by:
- A. Senior Management
- B. All of the above
- C. Organized criminals
- D. Mid and lower level employees
Answer: B
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 60
The principal way to detect omitted credits from books of account is through:
- A. Forced Balance
- B. Expense account
- C. None of all
- D. Trend analysis
Answer: D
NEW QUESTION # 61
A fabricated name and the post office box that an employee uses to collect disbursements from false billings is called:
- A. Shell company
- B. Accomplice residence
- C. Cash generator
- D. Perpetrator check
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
Explanation
NEW QUESTION # 62
The most common method for billing scheme is:
- A. None of the above
- B. Tips
- C. Register
- D. Accident
Answer: B
NEW QUESTION # 63
Which of the following is the criterion for bid solicitation?
- A. Containing false statements
- B. To withdraw low bids
- C. Allowing the purchaser to discuss possible employment with the contractor
- D. To falsify the bid log
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 64
Undisclosed payments made by vendors to employees of purchasing companies are referred to as:
- A. None of the above
- B. Presolicitaion
- C. Bid-rigging
- D. Kickbacks
Answer: D
NEW QUESTION # 65
Which sale occurs when the accomplice of the employee-fraudster "buys" merchandise, but the employee does not ring up the sale, and the accomplice takes the merchandise without making any payment?
- A. Fake sale
- B. Preliminary sale
- C. Fraudster sale
- D. Whole sale
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 66
The most common method for billing scheme is:
- A. None of the above
- B. Tips
- C. Register
- D. Accident
Answer: B
NEW QUESTION # 67
When a victim company purchases unnecessary goods or services from a supplier at the direction of the corrupt employee, this results in:
- A. False sole-source scheme
- B. Submission scheme
- C. Presolicitation scheme
- D. Need recognition scheme
Answer: D
NEW QUESTION # 68
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