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CFE- ACFE EXAM QUESTION AND ANSWERS
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CFE- ACFE EXAM QUESTION AND ANSWERS
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CFE- ACFE EXAM QUESTION AND ANSWERSAccording to The Institute of Internal Auditors' International Standards for the
Professional Practice of Internal Auditing, due professional care implies infallibility.
A. True
B. False - Answers -False
Which of the following is TRUE regarding organizational structure?
A. Companies with departments that are isolated geographically have a reduced risk of
fraud
B. The existence of many specialized departments within a company generally
increases the overall risk of fraud within the organization
C. Misbehavior is more likely to be detected in a complex organizational structure than
in a simple organizational structure
D. All of the above - Answers -The existence of many specialized departments within a
company generally increases the overall risk of fraud within the organization
Detective anti-fraud controls include all of the following EXCEPT:
A. Hotline
B. Proactive data analysis techniques
C. Physical inspections
D. Hiring policies and procedures - Answers -Hiring policies and procedures
Which of the following is TRUE regarding fraud risks?
A. The objective of anti-fraud controls is to make the inherent fraud risk significantly
smaller than the residual fraud risk.
B. The objective of anti-fraud controls is to make the residual fraud risk significantly
smaller than the inherent fraud risk
C. Risks that are present before the effect of internal controls are described as residual
risks.
D. The objective of anti-fraud controls is to completely eliminate residual fraud risks. -
Answers -The objective of anti-fraud controls is to make the residual fraud risk
significantly smaller than the inherent fraud risk
As a strategy to control crime, _________ is designed to achieve conformity to the law
by providing economic incentives for voluntary adherence to the law and using
administrative efforts to control violations before they occur.
A. Prevention
B. Deterrence
C. Compliance
D. None of the above - Answers -Compliance
, In the area of criminological theory, ____________ is the theory that tries to prevent
crime by using the threat of criminal sanctions.
A. Punishment
B. Adherence
C. Deterrence
D. None of the above - Answers -Deterrence
According to Reiss and Biderman, _____________________ violations are those
violations of law . . . that involve the use of a violator's position of economic power,
influence, or trust in the legitimate economic or political institutional order for the
purpose of illegal gain, or to commit an illegal act for personal or organizational gain.
A. Violent crime
B. Organized crime
C. Environmental crime
D. White-collar crime - Answers -White-collar crime
Under the ACFE Code of Professional Ethics, fraud examiners are strictly prohibited
from expressing opinions on technical matters.
A. True
B. False - Answers -False
In the area of criminological theory, ____________ is the theory that tries to prevent
crime by using the threat of criminal sanctions.
A. Deterrence
B. Punishment
C. Adherence
D. None of the above - Answers -Deterrence
In the context of a fraud examination, a mindset of professional skepticism means:
A. The fraud examiner's professional skepticism can be dispelled only by evidence
B. Fraud examiners should relax their attitude of skepticism only when the evidence
shows no signs of fraud
C. Fraud examiners should always begin their assignments with the belief that
something is amiss
D. All of the above - Answers -All the above
______________ is a process aimed at proactively identifying and addressing an
organization's vulnerabilities to internal and external fraud.
A. A management ethics assessment
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