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ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:

1. 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) Presolicitation scheme
C) Need recognition scheme
D) Submission scheme


2. Which of the following statements is TRUE regarding the prevention of inventory theft?

A) The inventory requisition form should be completed by the same person who is responsible for incoming shipments.
B) Shipping documents should be prenumbered and controlled.
C) The person who is responsible for shipping inventory should also be responsible for converting inventory to scrap.
D) The purchasing supervisor should conduct the physical inventory count.


3. Organizations that had external audits actually had higher median losses and longer-lasting fraud schemes than those organizations that were not audited.

A) True
B) False


4. Which of the following is NOT one of the information security goals that should be achieved to secure an e- commerce system for users and account holders?

A) Integrity of data
B) Penetrability of data
C) Confidentiality of data
D) Availability of data


5. Kara owns a business selling rare goods. Some of the goods Kara sells are of high value, but she reports significantly lower values to the taxing authority for those transactions. Which of the following options BEST describes Kara's scheme?

A) Wealth tax evasion scheme
B) Consumption tax scheme
C) Falsified tax deduction scheme
D) Tax credit scheme


Solutions:

Question # 1
Answer: C
Question # 2
Answer: B
Question # 3
Answer: A
Question # 4
Answer: B
Question # 5
Answer: B

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