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NEW QUESTION # 68
Which of the following is not the skimming scheme?
- A. Unrecorded sales
- B. Understand sales and receivables
- C. Fraud & Cost
- D. Theft of checks through the mail
Answer: C
NEW QUESTION # 69
One reason employees might be hesitant to use PO boxes in shell company schemes is that some businesses are specially vary of sending checks to vendors that have street addresses only.
- A. False
- B. True
Answer: A
NEW QUESTION # 70
A fabricated name and the post office box that an employee uses to collect disbursements from false billings is called:
- A. Cash generator
- B. Accomplice residence
- C. Perpetrator check
- D. Shell company
Answer: D
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 71
__________ is required if and when officers, executives or other persons in trusted positions become subjects of a criminal indictment.
- A. Conflict of interest
- B. Disclosure
- C. Turnaround sale or flip
- D. Resource diversion
Answer: B
NEW QUESTION # 72
Skimming is:
- A. The addition of cash from a victim entity prior to its entry in an accounting system.
- B. The removal of cash from a victim entity prior to its entry in an accounting system.
- C. The removal of cash from a victim entity after its entry in an accounting system.
- D. None of above
Answer: B
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 73
Which of the following is NOT the reason to bribe employees of the purchaser?
- A. To falsify the bid log
- B. To ensure bid-splitting
- C. To ensure receipt of a late bid
- D. To extend the bid opening date
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 74
CORRECT TEXT
The _______________ cost method of pricing would carry an asset's value on the financial statements as what it would currently cost, considering inflation.
Answer:
Explanation:
Pending
NEW QUESTION # 75
SIMULATION
______________ is required not only for theft, but for procedures to detect errors, avoid waste and insure a proper amount of inventory is maintained.
Answer:
Explanation:
Inventory control
NEW QUESTION # 76
One reason employees might be hesitant to use PO boxes in shell company schemes is that some businesses are specially vary of sending checks to vendors that have street addresses only.
- A. False
- B. True
Answer: A
NEW QUESTION # 77
Which of the following factors is NOT included in most financial statement schemes?
- A. Concealed liabilities and expenses
- B. Fictitious revenues
- C. Improper asset valuations
- D. Persuasive Evidence
Answer: D
NEW QUESTION # 78
________ decrease assets and expenses and/or increase liabilities and/or equity
- A. Debit
- B. None of all
- C. Journal Entries
- D. Credit
Answer: D
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 79
Which of the following is NOT standard of generally accepted accounting principles?
- A. Quality control
- B. Full disclosure
- C. Conservatism
- D. Cost
Answer: A
NEW QUESTION # 80
A journal in which all sales made on credit or cash are listed is:
- A. Disbursement journal
- B. General journal
- C. Accounts receivable journal
- D. Accounts payable journal
Answer: C
NEW QUESTION # 81
__________ can be defined as conduct detrimental to the organization and to the employee.
- A. All of the above
- B. Employee deviance
- C. Employee fraud
- D. Employee theft
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 82
Collusion or bid-rigging between bidders is called
- A. To withdraw low bids
- B. Contract acceptance
- C. Bid solicitation
- D. Bribery receipt
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 83
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