Free CFE-Fraud-Prevention-and-Deterrence Practice Exam Questions Online

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Total 317 Questions | Updated On: Nov 21, 2024

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Question 1

Which of the following statements about the fraud risk assessment process Is MOST ACCURATE?

A : The fraud risk assessment can be effectively conducted by people inside or outside of the organization.

B : To ensure the independence of the team members, a fraud risk assessment must be conducted by a consultant or other external party.

C : If the individuals conducting the fraud risk assessment truly believe that fraud could not happen at the organization, then the assessment process should reflect that belief.

D : The fraud risk assessment is most effective when management's influence on the process is limited

Answer: D

Question 2

Reporting known incidents of fraud to law enforcement can be an effective fraud prevention mechanism.

A : True

B : False

Answer: A

Question 3

Which of the following factors is the determining aspect of white-collar crime according to modern criminological studies?

A : Psychological temperament

B : Educational background

C : Organizational opportunity

D : Social status

Answer: C

Question 4

Gregory, an internal auditor, and Brandon, the company's purchasing manager, have had several heated disagreements over purchasing procedures and policies. Gregory has just been told that he will be the lead on the company's fraud risk assessment. During the fraud risk assessment. Gregory should:

A : Confront Brandon about the disagreements and discuss how they increase the organization's risk of fraud-

B : Have someone else perform the fraud risk assessment work related to the purchasing function

C : Include his disagreements with Brandon as a factor when assessing the risk of fraud in the purchasing function.

D : Automatically designate the purchasing function as a high-risk area.

Answer: C

Question 5

Baldwin, a Certified Fraud Examiner (CFE), has an ethical dilemma regarding his business contract with his professional partners. Which of the following scenarios demonstrates Baldwin consulting a source of guidance that would be considered the LOWEST level of reference to use for determining the most ethical action to take?

A : Baldwin reviewing the ACFE Code of Professional Ethics

B : Baldwin contemplating philosophical principles related to ethics

C : Baldwin reading the applicable contract law

D : Baldwin asking for guidance from his family and friends

Answer: D

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Total 317 Questions | Updated On: Nov 21, 2024

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