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: Nov 12, 2024

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Question 1

Which of the following statements is FALSE?

A : ntrols are not effective in preventing theft and fraud If those at risk do not know of their presence

B : t experts agree that it is harder to detect frauds than to prevent them

C : ucating employees about company hotlines and reporting programs increases their perception of detection

D : nducting covert audits is among the most effective fraud prevention methods

Answer: A

Question 2

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

Question 3

An ISBN is a unique code that identifies a specific edition or format of a book published by a certain publisher. It is an international standard system. ISBN is an example of...?

A : Harmonized system

B : Industry standard code

C : Check digit

D : Own product code system

Answer: B

Question 4

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 : ve shareholders oversight of hotline reporting programs

B : ve adequate compensation committee resources and authority

C : velop a written charter for management

D : ve a mandatory independent audit committee

Answer: D

Question 5

Which of the following is an assumption of economic-order-quantity model?

A : The purchasing cost per unit is affected by the order quantity

B : Demand, ordering costs, and carrying costs are uncertain

C : No inventory stockouts occur

D : The quantity ordered can vary at each reorder point

Answer: C

Page: 1 / 64

Total 317 Questions | Updated On: Nov 12, 2024

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