Free CFE-Financial-Transactions-and-Fraud-Schemes Exam Questions - Easiest Way for Success

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Total 190 Questions | Updated On: Sep 14, 2024

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Question 1

The scheme which reduces victim companies to issue fraudulent payments for goods or services that they have not received is called:

A : Bogus claims

B : Billing scheme

C : Reliance billing

D : Misappropriate claims

Answer: A

Question 2

The seller's price to the buyer is not fixed or determinable when:

A : When the price is not contingent on some future events

B : The transaction includes an option to exchange the product for others

C : A service or membership fee is not subject predictable cancellation during the contract period.

D : Payment terms are not extended for a substantial period.

Answer: B

Question 3

In physical tampering prevention technique, hidden images can be seen only when the check is held at an angle through:

A : High-resolution sprays

B : Holographic safety inks

C : Watermark backers

D : Chrome coloring

Answer: C

Question 4

If the assets are intentionally purchased by the company but simply misappropriated by the fraudster, this is referring to as:

A : Inventory larceny scheme

B : Asset receiving scheme

C : Fraudulent purchase

D : Falsify shipping

Answer: A

Question 5

Bid-rigging scheme occurs when:

A : an employee fraudulently assists a vendor in winning a contract through the competitive bidding process.

B : an employee does not assist a vendor in winning a contract through the competitive bidding process.

C : an employee once assists a vendor in winning a contract through a single competitive bidding process.

Answer: A

Page: 1 / 38

Total 190 Questions | Updated On: Sep 14, 2024

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