Free ACFE CFE-Fraud-Prevention-and-Deterrence Exam Questions

Become ACFE Certified with updated CFE-Fraud-Prevention-and-Deterrence exam questions and correct answers

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Total 317 Questions | Updated On: Dec 24, 2020

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Question 1

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

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

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

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

Answer: D

Question 2

Adan, an internal auditor who works at BKY Co., is reviewing the auditing procedures for his company. He is specifically considering the ways BKY can proactively audit for fraud. Which of the following is TRUE regarding the use of proactive fraud auditing procedures at BKY?

A : Auditors should avoid asking questions such as. "Has anyone ever asked you to do something unethical?" as part of their audits, as this can limit employees' willingness to communicate.

B : Fraud assessment questioning techniques are most effectively used as part of the normal audit process.

C : Analytical review of BKY's financial statements is the best way to uncover small frauds that might be missed by other detection methods.

D : Fraud audit procedures should be designed to avoid an element of surprise.

Answer: B

Question 3

Which of the following would MOST LIKELY be a violation of the ACFE Code of Professional Ethics?

A : een a CFE, uncovered several material internal control deficiencies unrelated to the financial statement fraud he was investigating. In his final report to management. Green included information about the deficiencies even though they were unrelated to the situation he was hired to investigate.

B : ephanie, a CFE, accepted a fraud examination assignment and then instructed a lower-level employee to assess the company's cash records for signs of fraud. She took his word when he said there was no evidence of wrongdoing and ended up failing to uncover a very costly fraud scheme.

C : an, a CFE, was hired by a client to conduct a fraud examination but found nothing amiss A year later, she received a legal order from the local prosecutor's office to provide the client's file. Susan complied with the court order, even though she did not have the client's authorization to do so.

D : l of the above are violations

Answer: B

Question 4

To address an employee's consistent failure to meet deadlines, a manager removes the employee's ability to work from home This is an example of what type of behavioral response?

A : itive reinforcement

B : gative reinforcement

C : nishment

D : ne of the above

Answer: C

Question 5

Which of the following is one of the recommendations made by the National Commission on Fraudulent Financial Reporting (the Treadway Commission) to reduce the probability of fraud in financial reports?

A : mandatory independent compensation committee

B : areholder oversight of internal controls

C : written charter for management

D : equate audit committee resources and authority

Answer: D

Page: 1 / 64

Total 317 Questions | Updated On: Dec 24, 2020

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