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

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Total 170 questions

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

A.

Compare book and tax depreciation and indicate variances

B.

Identify paychecks with amounts over a certain limit

C.

Summarize large invoices by amount and vendor

D.

All of the above

Which of the following is TRUE of a follow-up/recommendations section in a written fraud examination report?

A.

A follow-up recommendations section is a required part of every written fraud examination report

B.

A follow-up/recommendations section calculates the amount of fraud-related loss sustained by the organization

C.

A follow-up/recommendations section should state remedial measures for the organization to undertake

D.

All of the above

Which of the following statements is MOST ACCURATE regarding how a fraud examiner should prepare for an interview with a subject from a different jurisdiction?

A.

A fraud examiner does not need to research cultural considerations such as personal space and eye contact.

B.

A fraud examiner should find out whether there are limitations on the use of information obtained during an interview

C.

Failing to observe cultural norms is not a concern if the interviewer is from a different country than the interviewee

D.

Consulting with legal counsel is only necessary when an investigation spans multiple junsdictions

Which of the following statements about how fraud examiners should approach fraud examinations is FALSE?

A.

In most examinations, fraud examiners should start interviewing the least involved candidates and proceed toward those who are potentially more involved.

B.

When conducting fraud examinations, fraud examiners should start with specific details and move toward more general information.

C.

When conducting fraud examinations, fraud examiners should adhere to the fraud theory approach.

D.

When conducting fraud examinations, fraud examiners should begin with general information that is known and then move to the more specific details.

Which of the following is a reason why a subject's credit card records are useful in tracing investigations?

A.

Credit card statements show source of the funds used to pay a credit card bill

B.

Credit card records show the movements and habits of the subject

C.

Credit card records provide insight into the subject's litigation history

D.

Credit card records contain information about the division and distribution of the subject's assets

Andrew wants to use a confidential informant in his investigation. He plans to compensate the informant with cash and obtain a receipt. He also plans to identify his source in a memorandum and his final report using only the informant's initials. Which of Andrew's plans is NOT considered a best practice when using an informant?

A.

Referring to the informant in the memorandum using the informant's initials

B.

Using information from the informant in his final report

C.

Creating a receipt regarding the cash payment

D.

Compensating the informant with cash

Jason is an investigator who is conducting an interview with Dina. a fraud suspect. After introducing himself. Jason attempts to be amiable by asking about Dina's favorite sports team and complimenting her eyeglass frames. Jason is attempting to:

A.

Establish the interview theme.

B.

Establish rapport.

C.

Calibrate the witness.

D.

Exhibit passive listening

Amanda needs to know the location of the principal office and the date of incorporation of a company she is investigating. Which of the following would be the BEST source of this information?

A.

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

B.

The company's income tax filings

C.

The contractual records of any real property owned by the corporation

D.

The comprehensive litigation file in the local court in the jurisdiction in which the company is headquartered

Which of the following is one of the purposes of closing questions in a routine interview?

A.

To close the interview positively and maintain goodwill

B.

To assess whether the subject is ready to confess

C.

To confirm the credibility of the witness being interviewed

D.

To reduce testimony to a signed, written statement

Gilbert is preparing to conduct a covert investigation. Before acting, he wants to wnte a memorandum documenting his plan. Which of the following pieces of information should he include in this memorandum?

A.

The information expected to be gained from the operation

B.

The identities of any confidential sources to be used in the operation

C.

His first impression regarding the subject's culpability

D.

All of the above