This page was exported from Valid Premium Exam [ http://premium.validexam.com ] Export date:Thu Mar 13 21:22:57 2025 / +0000 GMT ___________________________________________________ Title: [Dec-2024 Newly Released] Pass CFE Exam - Real Questions & Answers [Q16-Q33] --------------------------------------------------- [Dec-2024 Newly Released] Pass CFE Exam - Real Questions and Answers Pass CFE Review Guide, Reliable CFE Test Engine To qualify for the CFE certification, candidates must meet certain eligibility requirements, including having a minimum of two years of professional experience in a related field, such as accounting, law enforcement, or internal auditing. Candidates must also pass the CFE exam, which covers four main areas: Fraud Prevention and Deterrence, Financial Transactions and Fraud Schemes, Investigation, and Legal Elements of Fraud.   NO.16 ____________ is a summary of the account balances carried in a ledger.  Balance sheet  Income statement  Financial statement  General journal Section: Financial Transactions and Fraud SchemesNO.17 In ____________ scheme, a supplier pays an employee of the purchasing company to write specifications that will require amendments at a later date.  Deliberate writing of vague specifications  Need recognition  False specification  Bid-splitting NO.18 ________ decrease assets and expenses and/or increase liabilities and/or equity  Journal Entries  Debit  Credit  None of all NO.19 Which of the following can constitute a bribe, even if the illicit payment is never actually made?  Offering a payment  Corruption in payment  kickback payment  Overbilling in payment NO.20 The seller’s price to the buyer is not fixed or determinable when:  When the price is not contingent on some future events  The transaction includes an option to exchange the product for others.  A service or membership fee is not subject predictable cancellation during the contract period.  Payment terms are not extended for a substantial period. NO.21 When employee committing the fraud removes cash from the register and also the item allegedly being returned is debited back into the inventory, this refers to:  Registry destroying records  Register false voids  Fraudulent register occurrences  Concealing register disbursement NO.22 If the assets are intentionally purchased by the company but simply misappropriated by the fraudster, this is referring to as:  Inventory larceny scheme  Asset receiving scheme  Fraudulent purchase  Falsify shipping Section: Financial Transactions and Fraud SchemesNO.23 According to accounting principles, ________ and ________ should be recorded or atched in the same accounting period; failing to do so violates the matching principle of AAP.  Revenue and corresponding expenses  Revenue and Income statement  Income statement and Long-term contracts  Capitalized expenses and Liabilities NO.24 The principal way to detect omitted credits from books of account is through:  Forced Balance  Trend analysis  Expense account  None of all NO.25 Asset misappropriation schemes were the “middle children” of the study; they were more common than fraudulent statements and more costly than corruption.  True  False Section: Financial Transactions and Fraud SchemesNO.26 Theft of incoming checks usually occurs when ________ is (are) in charge of opening the mail and recording the receipt of payments.  Single employee  Two employees  More than two employees  None of the above Section: Financial Transactions and Fraud SchemesExplanation/Reference:NO.27 _________ revenues involve the recording sales of goods or services hat did not occur.  Fictitious or fabricated revenues  Financial revenues  Red flag revenues  Concealed revenues NO.28 By removing a tangible asset from the business (a debit), the books will be ___________ by the exact amount of the tangible asset misappropriated.  Journal Entries  Out-of-balance  False debits  None of all NO.29 ________ decrease assets and expenses and/or increase liabilities and/or equity  Journal Entries  Debit  Credit  None of all NO.30 According to accounting principles, ________ and ________ should be recorded or atched in the same accounting period; failing to do so violates the matching principle of AAP.  Revenue and corresponding expenses  Revenue and Income statement  Income statement and Long-term contracts  Capitalized expenses and Liabilities NO.31 Which of the following can constitute a bribe, even if the illicit payment is never actually made?  Offering a payment  Corruption in payment  kickback payment  Overbilling in payment Section: Fraud Prevention and DeterrenceNO.32 Which of the following are the classifications for the Corruption?  Bribery, economic extortion, illegal gratuities and conflicts of interest  Corruption, bribery, economic extortion, conflicts of interest  Overbilling, bribery, bid-ridding and illegal gratuities  economic extortion, bribery, illegal gratuities and corruption NO.33 By removing a tangible asset from the business (a debit), the books will be ___________ by the exact amount of the tangible asset misappropriated.  Journal Entries  Out-of-balance  False debits  None of all  Loading … 100% Free CFE Daily Practice Exam With 165 Questions: https://www.validexam.com/CFE-latest-dumps.html --------------------------------------------------- Images: https://premium.validexam.com/wp-content/plugins/watu/loading.gif https://premium.validexam.com/wp-content/plugins/watu/loading.gif --------------------------------------------------- --------------------------------------------------- Post date: 2024-12-22 09:05:21 Post date GMT: 2024-12-22 09:05:21 Post modified date: 2024-12-22 09:05:21 Post modified date GMT: 2024-12-22 09:05:21