Exam (elaborations)
CFE Exam With Correctly Verified Solutions 2024
- Course
- Institution
CFE Exam With Correctly Verified Solutions 2024
[Show more]
Content preview
CFE Exam With Correctly Verified Solutions2024
Probable nfuture neconomic nbenefits nobtained nor ncontrolled nby na nparticular nentity nas na
nresult nof npast ntransactions nor nevents n- ncorrect nanswer.Asset
recognized nand naccepted nby nstate ninsurance ndepartments nin nevaluating nthe nsolvency
nof nan ninsurer nfor nstatutory naccounting npurposes n- ncorrect nanswer.Admitted nassets
These ntypes nof nassets ndo nnot ncontribute nto nan ninsurer's nsolvency nas nmeasured nby
nstatutory naccounting nrequirements n- ncorrect nanswer.Non-admitted nassets
Any nsecurities nrepresenting na ncreditor nrelationship, nwhereby nthere nis na nfixed nschedule
nfor
one nor nmore nfuture npayments n- ncorrect nanswer.Bonds
If nthe nprice nis nhigher nthan npar, nthe nexcess nis nthe n____________; nif nthe nprice nis nlower
nthan
par, nthe ndeficiency nis nthe n____________. n- ncorrect nanswer.bond npremium n; nbond
ndiscount
The namount nthe nowner nexpects nto nreceive nwhen nthe nbond nmatures n- ncorrect
nanswer.Par nvalue
The namount nof nthe nimpairment nis nthe ndifference nbetween nthe nnet nfair nvalue n(appraised)
nvalue nless nestimated ncosts nto nsell) nof nthe ncollateral nand nthe ninsurer's nrecorded
ninvestment nin: n- ncorrect nanswer.mortgage
True nor nFalse: nAny nreal nestate nwhich nis nowned nby nand nmore nthan n50 npercent noccupied
n(based non nrentable nsquare nfootage) nby nan ninsurer nand nits' naffiliates nis nconsidered
nproperty noccupied nby nthe ncompany. n- ncorrect nanswer.True
A nmarket nquote nor nan nappraisal nis nused nto ndetermine nwhat nof nproperty nheld nfor nsale? n-
ncorrect nanswer.current nfair nvalue
What nmust nbe npresent nfor na nfraud nto nexist? n- ncorrect nanswer.A nmaterial nfalse
nstatement, nknowledge nthat nthe nstatement nwas nfalse nwhen nit nwas nuttered, nand nreliance
non nthe nfast nstatement nby nthe nvictim.
,A nperson nis nsaid nto nbe nin n________ nact, nwhen nthe nbusiness nwhich nhe ntransacts, nor nthe
nmoney nor nproperty nwhich nhe nhandles, nis nnot nfor nhis nown nbenefit, nbut nfor nanother
nperson: n- ncorrect nanswer.Fiduciary nCapacity
An nactual nor nconstructive ntaking naway nof nthe ngoods nor nproperty nof nanother nwith nthe
nwithout nthe nconsent nand nagainst nthe nwill nof nthe nowner nand nwith na nfelonious nintent. n-
ncorrect nanswer.Larceny
Larceny nby nFraud nor ndeception nmeans nthat: n- ncorrect nanswer.Creates nor nreinforce na
nfalse nimpression, nfails nto ncorrect na nfalse nimpression, nand nfails nto ndisclose na nknown nlien,
nadverse nclaim nor nother nlegal nimpediment
In nCressey's nfraud ntriangle, nits nthree nlegs nare: n- ncorrect nanswer.Opportunity, nPressure
nand nRationalization
The nseller's nprice nto nthe nbuyer nis nnot nfixed nor ndeterminable nwhen: n- ncorrect nanswer.The
ntransaction nincludes nan noption nto nexchange nthe nproduct nfor nothers.
Basic ntypes nof nnon-sharable nproblems? n- ncorrect nanswer.Violation nof nascribed
nobligations, nBusiness nreversals, nPhysical nIsolation
One nof nthe nsimplest nways nto njustify nunacceptable nconduct nand navoid nguilt nfeelings nis nto
ninvent na ngood nreason nfor n- ncorrect nanswer.Embezzling
Which nof nthe nfollowing noffender ntypes nin nwhich npeople nwho ntake nthe nmoney nand nrun
naway? n- ncorrect nanswer.Absconders
True nor nFalse: nWhen nsituational npressures nand nperceived nopportunities nare nlow nand
npersonal nintegrity nis nhigh, noccupational nfraud nis nmuch nmore nlikely nto noccur. n- ncorrect
nanswer.False
In nFraud nscale npressure, nopportunity nand nintegrity nvariables nall nresults nin na nlist nof n___
npossible nred nflags nor nindicators nof noccupational nfraud nand nabuse. n- ncorrect nanswer.82
__________ ncan nbe ndefined nas nconduct ndetrimental nto nthe norganization nand nto nthe
nemployee. n- ncorrect nanswer.Employee ndeviance
______________ nis nrequired nnot nonly nfor ntheft, nbut nfor nprocedures nto ndetect nerrors,
navoid nwaste nand ninsure na nproper namount nof ninventory nis nmaintained. n- ncorrect
nanswer.Inventory ncontrol
Perceived ncertainty nof ndetection nis ndirectly nrelated nto nemployee ntheft nfor nrespondents nin
nall nindustry nsectors; nthe nstronger nthe nperception nthat ntheft nwould nbe ndetected, nthe nmore
nthe nlikelihood nthat nthe nemployee nwould nengage nin ndeviant nbehavior. n- ncorrect
nanswer.False
,According nto nHollinger nand nClark nfor nPolicy ndevelopment, nmanagement nmust npay
nattention nto: n- ncorrect nanswer.A nclear nunderstanding nregarding ntheft nbehavior nand
nenforcement nof nsanctions
_________ nis ndefined nas na nperson nwho nworks nfor nthe nvictim norganization nand nwho nis
nprimary nculprit n- ncorrect nanswer.Principal nperpetrator
According nto na nsurvey, nin nprincipal nperpetrator, nmales nin na nmajority nof ncases,
naccounting nfor n___ npercent nof nfrauds nversus n___ npercent nin nwhich na nfemale nwas nthe
nprimary nculprit. n- ncorrect nanswer.61 nversus n39
True nor nFalse: nOrganizations nthat nhad nexternal naudits nactually nhad nhigher nmedian
nlosses nand nlonger nlasting nfraud nschemes nthan nthose norganizations nthat nwere nnot
naudited. n- ncorrect nanswer.True
A n____________ ncan nbe nvery ncostly nfor nan norganization nto nundertake, nboth nin nterms nof
nmoney nand ntime nspent. n- ncorrect nanswer.Civil nlawsuit
_____________ ninvolves npurposeful nmisreporting nof nfinancial ninformation nabout nthe
norganization nthat nis nintended nto nmislead nthose nwho nread nit. n- ncorrect
nanswer.Fraudulent nstatement
True nor nFalse: nAsset nmisappropriation nschemes nare nmore ncommon nthan nfraudulent
nstatements nand nmore ncostly nthan ncorruption. n- ncorrect nanswer.False
According nto nMarshall, n______ nare nprobable nfuture neconomic nbenefits nobtained nor
ncontrolled nby na nparticular nentity nas na nresult nof npast ntransactions nor nevents. n- ncorrect
nanswer.Assets
Assets nthat nare nlong-lived nand nthat ndiffer nfrom nproperty, nplant nand nequipment nthat nhas
nbeen npurchased noutright nor nacquired nunder na ncapital nlease n- ncorrect nanswer.Intangible
nAssets
An nasset ncapable nof nbeing nperceived n& ncapable nof nbeing nappraised n- ncorrect
nanswer.Tangible nAsset
_________ nnormally nare ncarried non nan norganization's nbooks nas nexpenses nbecause
nthey ntend nto nbe nconsumed nby nthe norganization nwithin na nyear nof npurchase. n- ncorrect
nanswer.Supplies
Amounts nwhich nare nowned nto nother nentities n- ncorrect nanswer.Liabilities
The ndifference nbetween nassets nand nliabilities n- ncorrect nanswer.Equities
, The nseller's nprice nto nthe nbuyer nis nnot nfixed nor ndeterminable nwhen n- ncorrect nanswer.The
ntransaction nincludes nan noption nto nexchange nthe nproduct nfor nothers.
Allows nthe nowner, ninvestors, ncreditors nand nothers nwith nan ninterest nto nknow nthe
nappropriate nbook nworth nof nthe nbusiness nat na nparticular ndate. n- ncorrect nanswer.Balance
nSheet
Occupational nfraud nand nabuse nis na n(an) n__________ nof ndoing nbusiness, nin nmuch nthe
nsame nway nthat nwe npay nexpenses nfor nelectricity, ntaxes nand nwages. n- ncorrect
nanswer.Expense
When nexpenses nused nto nproduce nincome- nall nof nthem- nshould nbe nmatched nin na
nconsistent nmanner nagainst nthat nincome n- ncorrect nanswer.Accrual nbasis naccounting
True nor nFalse: nDepreciation nis nespecially napplicable nwhen ncompanies ntry nto novervalue
ntheir nassets nand nnet nworth; nthe nlower ntheir ndepreciation nexpense, nthe nhigher nthe
ncompany's nprofits. n- ncorrect nanswer.True
Any nexpenses nthat nare nincurred nbut nnot npaid nby nthe nend nof nthe nyear nare ncounted nin nour
nrecords nof nprofit nand nloss n- ncorrect nanswer.Accruals
The nheart nof nbook nkeeping nsystem n- ncorrect nanswer.Checkbook
A nday-by-day, nor nchronological, nrecord nof ntransactions n- ncorrect nanswer.Journal
A njournal nin nwhich nall nsales nmade non ncredit nor ncash nare nlisted n- ncorrect
nanswer.Accounts nreceivable njournal
A nsummary nof nthe naccount nbalances ncarried nin na nledger n- ncorrect nanswer.Financial
nstatement
A nprocess nby nwhich na nbookkeeper nrecords nall ntransactions nand ncan nadjust nthe nbooks. n-
ncorrect nanswer.Journal nEntries
Increase nassets nand nexpenses nand/or ndecrease nliabilities nand/or nequity n- ncorrect
nanswer.Debit
Decrease nassets nand nexpenses nand/or nincrease nliabilities nand/or nequity n- ncorrect
nanswer.Credit
True nor nFalse: nThe nexcess ncredits n(or ndebits) non nthe nincome nstatement nare nused nto
ndecrease n(or nincrease) nthe nequity naccount. n- ncorrect nanswer.False
Delivery nhas nnot noccurred nor nservices nhave nnot nbeen nrendered nwhen: n- ncorrect
nanswer.A nwritten norder nexists nbut ncontains na nright nof nreturn.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller RANKGRADES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79064 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now