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ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:
1. The excess credits (or debits) on the income statement are used to decrease (or increase) the equity account.
A) False
B) True
2. Which of the following measures would be MOST EFFECTIVE for preventing cash register disbursement schemes?
A) Encouraging at least one non-supervising employee to be physically present in the cash register area at all times
B) Keeping register access codes secure and training employees not to share them
C) Informing employees in advance that cash counts will be performed on a specific date
D) Requiring each register worker to prepare the register count sheet and reconcile it with the register total for their own register
3. Which of the following would NOT be helpful in preventing expense reimbursement schemes?
A) Comparing current expenses to historical expenditure amounts
B) Requiring all employees to submit receipts electronically
C) Requiring employees to explain the specific business purpose of each expense
D) Comparing current expenses to budgeted expense amounts
4. Fran, who has made multiple insurance claims in the past, submits a fire loss claim. She reports losses of many items, including electronics, family heirlooms, and other large, bulky items. She is able to provide all the receipts and photographs to support her claim. Which of the following options is a red flag that Fran could be attempting to commit insurance fraud?
A) Fran has made multiple insurance claims in the past.
B) Fran includes photographs in support of her claim.
C) Fran has included bulky items in her fire loss claim.
D) Fran provides receipts for her purchased items.
5. Hondo is investigating allegations of fraud in a government agency's procurement process. While reviewing procurement documentation, Hondo observes that the agency employee responsible for drafting the solicitation created unnecessarily broad specifications for the type of work the agency needed. The organization that ultimately won the contract submitted a bid that fit within the broad specifications but not the agency's more relevant specific needs. This is MOST LIKELY an example of which procurement fraud scheme?
A) Bid manipulation
B) Bid splitting
C) Bid suppression
D) Bid tailoring
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: B | Question # 3 Answer: B | Question # 4 Answer: A | Question # 5 Answer: D |



