Pass Your Exam With 100% Verified CFE Exam Questions
CFE Dumps PDF - CFE Real Exam Questions Answers
NEW QUESTION 77
Which of the following is NOT the reason why senior management will overstate business statement?
- A. Comply with debit covenants
- B. Show a pattern of growth to support sale of a business
- C. Trigger performance related compensation
- D. Meet personal performance criteria
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 78
Asset misappropriations have an effect on the liabilities and do also have an indirect effect on the equity account.
- A. False
- B. True
Answer: A
NEW QUESTION 79
A fabricated name and the post office box that an employee uses to collect disbursements from false billings is called:
- A. Cash generator
- B. Perpetrator check
- C. Shell company
- D. Accomplice residence
Answer: C
NEW QUESTION 80
The forms that allow noncash assets to be moved from one location in a company to another can be used to facilitate the misappropriation of those assets are called:
- A. Fake sales
- B. All of the above
- C. Asset requisition
- D. Inventory usages
Answer: C
NEW QUESTION 81
______________ can be detected by closely examining the documentation submitted with the cash receipts.
- A. None of the above
- B. Voided purchases
- C. Approved transaction
- D. Fictitious refunds
Answer: D
Explanation:
Section: Investigation
NEW QUESTION 82
False billing scheme states that:
- A. employees do not cause their company to sale merchandise that the company does not need.
- B. employees cause their company to sale merchandise that the company does not need.
- C. employees cause their company to purchase merchandise that the company does not need
- D. employees do not cause their company to purchase merchandise that the company does not need.
Answer: C
NEW QUESTION 83
Placing any restriction in the solicitation documents that tend to restrict competition is called prebid solicitation.
- A. True
- B. False
Answer: A
NEW QUESTION 84
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. Need recognition scheme
- C. Submission scheme
- D. Presolicitation scheme
Answer: B
NEW QUESTION 85
In which of the following process, all bidders are legally supposed to be placed on the same plane of equality, bidding on the same terms and conditions?
- A. Kickbacks
- B. Competitive bidding
- C. Bid solicitation
- D. Bid-rigging
Answer: B
NEW QUESTION 86
CORRECT TEXT
___________ allows the fraud examiner to inspect key attributes on a smaller portion (or sample) of those documents.
Answer:
Explanation:
Pending
NEW QUESTION 87
Which of the following must be present for a fraud to exist?
- A. Knowledge that the statement was false when it was uttered
- B. All of the above
- C. A material false statement
- D. Reliance on the fast statement by the victim
Answer: B
NEW QUESTION 88
Undisclosed payments made by vendors to employees of purchasing companies are referred to as:
- A. None of the above
- B. Kickbacks
- C. Presolicitaion
- D. Bid-rigging
Answer: B
NEW QUESTION 89
Verify supporting documentation on outstanding checks written for a material amount is a test used to conduct for:
- A. Bank confirmation
- B. Cut-off statements
- C. Bank confirmation
- D. Check disbursement
Answer: C
NEW QUESTION 90
________ increase assets and expenses and/or decrease liabilities and/or equity
- A. Journal Entries
- B. Credit
- C. None of all
- D. Debit
Answer: D
NEW QUESTION 91
In ___________ scheme, an employee creates false vouchers or submits false invoices to the employer.
- A. Voucher handling
- B. Sale requisition
- C. Cash generating
- D. Purchase requisition
Answer: C
NEW QUESTION 92
Asset misappropriation schemes were the "middle children" of the study; they were more common than fraudulent statements and more costly than corruption.
- A. False
- B. True
Answer: A
NEW QUESTION 93
The more power a person has over the bidding process, the more likely the person can influence the selection of a supplier.
- A. True
- B. False
Answer: A
NEW QUESTION 94
People commit financial statement fraud to:
- A. Maintain personal income
- B. Stand outside the accounting system
- C. Conceal false business performances
- D. Preserve personal status/control
Answer: D
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION 95
The excess credits (or debits) on the income statement are used to decrease (or increase) the equity account.
- A. False
- B. True
Answer: A
NEW QUESTION 96
The act of an official or fiduciary person who unlawfully and wrongfully uses his station or character to procure some benefit, contrary to duty and rights of others is called:
- A. Conflict of interest
- B. Bribery
- C. Corruption
- D. Overbilling
Answer: C
NEW QUESTION 97
......
CFE Dumps 100 Pass Guarantee With Latest Demo: https://prep4sure.real4dumps.com/CFE-prep4sure-exam.html
