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ACFE CFE-Investigation - Certified Fraud Examiner (CFE) - Investigation

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Total 170 questions

Mila. a Certified Fraud Examiner (CFE). needs to obtain court records and wants to be as sure as possible that the records are accurate In most countries, the most reliable way lo obtain these documents is to obtain them directly from the court authorities.

A.

True

B.

False

Which of the following statements concerning access to nonpublic records is MOST ACCURATE?

A.

Once a criminal case is filed, all records obtained by the government are considered public records

B.

Nonpublic records cannot be obtained by subpoena or legal order in a civil action

C.

In most junsdictions. banks are allowed to turn over a suspect's account information directly to a fraud victim when there is adequate evidence of wrongdoing.

D.

The government usually will not share nonpublic records with a fraud victim during an investigation into the underlying fraud.

Barnes, a Certified Fraud Examiner (CFE). is using data analysis to identify anomalies that might indicate fraud in XYZ Company's accounts payable transactions. Which of the following is the MOST EFFECTIVE data analysis function that Barnes could use to look for potential fraud in accounts payable?

A.

Compare book and tax depreciation and indicate variances

B.

Identify paycheck amounts over a certain limit

C.

Review recurring monthly expenses and compare to posted/paid invoices

D.

All of the above

Delta, an interviewer with little experience, asks Sigma, the respondent, the following question: "Were you aware that the signature was forged, and why didn't you tell anyone earlier?" This kind of question is called a_____________question

A.

Complex

B.

Controlled answer

C.

Free narrative

D.

Double-negative

When a fraud examiner is conducting an examination and is in the process of collecting documents, the fraud examiner should:

A.

Dust all physical key documents for fingerprints

B.

Establish a document database early in the investigation

C.

Make copies of originals and leave the originals where they were found

D.

Organize all the documents obtained in chronological order

Which of the following can be obtained from a wire transfer record?

A.

The amount of the transfer in question

B.

The type of money order used to make the transfer

C.

The location of the customs port of entry for the transfer

D.

The recipient's government identification number

Boyd, a Certified Fraud Examiner (CFE). was hired to trace Lottie's financial transactions. During his investigation. Boyd obtains records of electronic payments that Lottie made during the past five years. Which of the following are these records MOST LIKELY to reveal?

A.

The market value of any real property Lottie owns

B.

The assets that Lottie has purchased

C.

The division and distribution of Lottie's assets

D.

If Lottie is skimming her employer's funds

Al needs to know the location of the principal office and the initial shareholders of a company he is investigating. Which of the following would be the BEST source of this reformation?

A.

The organizational filings with the government of the jurisdiction in which the company is incorporated

B.

The contractual documents regarding real properly owned by the corporation

C.

The utility records in the municipality where the corporation has its principal office

D.

The shareholder data form filed with the World Bank

Which of the following statements about fraud response plans is FALSE?

A.

A fraud response plan outlines the actions an organization will take when suspicions of fraud have arisen.

B.

A fraud response plan should create an environment to minimize risk and maximize the potential for success

C.

A fraud response plan must be simple to understand and administer

D.

A fraud response plan should specify how every fraud examination should be conducted regardless of the type of fraud

Which of the following statements concerning a well-written fraud examination report is MOST ACCURATE?

A.

The report should convey all Information provided by witnesses

B.

Only relevant facts that support the fraud allegation should be included in the report

C.

The report writer should avoid technical jargon where possible

D.

Signed copies of the fraud examiner's interview notes should be used to report interview details