CFE Exam - Financial and Fraud Schemes Exam Questions With 100% Verified Answers
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Course
CFE
Institution
CFE
CFE Exam - Financial and Fraud Schemes
Exam Questions With 100% Verified
Answers
Illegal gratuity - answerItems to reward a decision after the recipient made the decision. Like a
bribe
Extortion - answergetting money by threats
Economic extortion - answerWhen employee demands money through th...
Insurance Premium Fraud - answer✔Lying about certain information to insurer for a lower
premium
Insurance Agent Fraud - answer✔An agent would steal part of the insurance premium from the
insured client. Probably by charging the client more than the insurer is asking for.
Insurance Claimant Fraud - answer✔Misrepresenting the circumstance of an injury to get a
higher claim.
Organized Insurance Fraud - answer✔United efforts of a lawyer, capper, a doctor, and claimant.
Used in worker's compensation fraud and medical fraud.
Ditching - answer✔Getting rid of a car to collect on an insurance policy to settle an outstanding
loan.
Sliding - answer✔Including additional coverage in an insurance policy without the insured's
knowledge. This creates higher premium.
Past Posting - answer✔First there is an accident. Then the person buys insurance, then waits a
little bit then claims on the accident.
Insurance agent fraud - premium fraud - answer✔Agent collects on a premium but does not give
to the insurer.
Insurance agent fraud - fictitious payee fraud - answer✔Agent changes beneficiary on record to a
fictitious person
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