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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:

SectionObjectives
Topic 1: Fraud Schemes- Asset Misappropriation Schemes
  • 1. Billing and expense reimbursement fraud
    • 2. Skimming and cash larceny
      - Financial Statement Fraud
      • 1. Asset overstatement and liability concealment
        • 2. Revenue recognition manipulation
          Topic 2: Fraud Investigation and Analysis- Evidence collection and documentation
          • 1. Chain of custody principles
            - Data analysis in fraud detection
            • 1. Trend and anomaly identification
              Topic 3: Financial Crimes- Banking and Payment Fraud
              • 1. Wire fraud and electronic transfers
                • 2. Check and credit card fraud
                  - Money Laundering
                  • 1. Placement, layering, integration stages

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

                    Question #1

                    Which of the following is a common red flag of a bid tailoring scheme?

                    • A. The procuring entity rebids contracts because fewer than the minimum number of bids are received.
                    • B. The procuring entity's request for bid submissions provides clear bid submission information.
                    • C. Numerous bidders respond to the procuring entity's bid requests.
                    • D. There are unusually narrow specifications for the type of goods being procured.
                    Reveal Solution  Discussion  0

                    Correct Answer: D  🗳️

                    Explanation: Only visible for Actualtests4sure members. You can sign-up / login (it's free).

                    Question #2

                    Which of the following is not a skimming scheme?

                    • A. Theft of checks through the mail
                    • B. Understated sales and receivables
                    • C. Fraud & Cost
                    • D. Unrecorded sales
                    Reveal Solution  Discussion  0

                    Correct Answer: C  🗳️

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                    Question #3

                    John is a salesperson whose job requires him to entertain potential clients frequently. When John and another salesperson from a different company take a potential client to dinner, the other salesperson pays for the meal.
                    John creates his own receipt for the meal and submits the expense for reimbursement from his company.
                    John's scheme can BEST be characterized as:

                    • A. A mischaracterized expense reimbursement scheme
                    • B. A fictitious expense reimbursement scheme
                    • C. An overstated expense reimbursement scheme
                    • D. A multiple reimbursement scheme
                    Reveal Solution  Discussion  0

                    Correct Answer: B  🗳️

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                    Question #4

                    When situational pressures and perceived opportunities are low and personal integrity is high, occupational fraud is much more likely to occur than when the opposite is true.

                    • A. True
                    • B. False
                    Reveal Solution  Discussion  0

                    Correct Answer: B  🗳️

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                    Question #5

                    Margarette sends a text message to Arlo that appears to come from Arlo's doctor's office asking him to make a payment on an overdue bill. When Arlo clicks on the payment link, it takes him to a payment portal that Margarette controls, and she is able to steal his credit card information. Margarette has perpetrated which of the following schemes?

                    • A. Pharming
                    • B. Vishing
                    • C. Quishing
                    • D. Smishing
                    Reveal Solution  Discussion  0

                    Correct Answer: D  🗳️

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