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ACFE ACFE-CFE - Questions & Answers

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Question 1
Single choice

Which of the following is the criterion for bid solicitation?

A.

Containing false statements

B.

Allowing the purchaser to discuss possible employment with the contractor

C.

To withdraw low bids

D.

To falsify the bid log

Question 2
Single choice

Which of the following are the classifications for the Corruption?

A.

Bribery, economic extortion, illegal gratuities and conflicts of interest

B.

Corruption, bribery, economic extortion, conflicts of interest

C.

Overbilling, bribery, bid-ridding and illegal gratuities

D.

economic extortion, bribery, illegal gratuities and corruption

Question 3
Single choice

Organizations that had external audits actually had higher median losses and longer lasting fraud schemes than those organizations that were not audited.

A.

True

B.

False

Question 4
Single choice

Which of the following method is NOT used to detect conflicts of interest?

A.

Tips & Complaints

B.

Review of vendor ownership files

C.

Underbillings of assets

D.

Interviews with purchasing personnel

Question 5
Single choice

Employees steal an incoming payment and then place the incoming funds in an interest bearing account for:

A.

Converting stolen checks

B.

Concealing the fraud

C.

Short-term skimming

D.

All of the above

Question 6
Single choice

If the assets are intentionally purchased by the company but simply misappropriated by the fraudster, this is referring to as:

A.

Inventory larceny scheme

B.

Asset receiving scheme

C.

Fraudulent purchase

D.

Falsify shipping

Question 7
Single choice

Maintain the presence of a manager or supervisor near the area of the cash register as a deterrent to theft is a prevention for:

A.

Fraudulent statement scheme

B.

Asset misappropriation scheme

C.

Larceny scheme

D.

Register disbursement scheme

Question 8
Single choice

____________ corrupt employees can cause inventory to be fraudulently delivered to themselves or accomplices.

A.

False shipping slip

B.

False packing slip

C.

Fraudulent inventory slip

D.

False credit slip

Question 9
Single choice

A process by which several bidders conspire to split contracts up and ensure that each gets a certain amount of work is called:

A.

Bid opening

B.

Fictitious Bidding

C.

Bid pooling

D.

Bid log

Question 10
Single choice

The more power a person has over the bidding process, the more likely the person can influence the selection of a supplier.

A.

True

B.

False

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