CFE ACFE Certified Fraud Examiner exact Exam Questions

Certified Fraud Examiner

Last Update 17 hours ago Total Questions : 186

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Question # 31

Which counts sometimes can give rise to inventory theft detection?

Perpetual inventory counts

Physical inventory counts

Concealment inventory counts

None of the above

Question # 32

Forced reconciliation of the account says:

to conceal shrinkage is to alter inventory record so that it matches the physical inventory count.

to conceal inventory is to alter shrinkage record so that it matches the physical inventory count.

to conceal shrinkage is to change the perpetual inventory record so that it matches the physical inventory count.

to conceal write-offs is to change the perpetual inventory record so that it matches the physical inventory count.

Question # 33

The most common method for billing scheme is:

Tips

Accident

None of the above

Question # 34

A voucher is:

a file that includes the purchase order that was send to the vendor, the vendor invoice listing the cost and quantity of items purchased, and the internal receiving reports that verify the purchased items have been delivered.

a figure that includes the sale order that was send to the dealer, the vendor invoice listing the cost and quantity of items sold, and the internal receiving reports that verify the purchased items have been delivered.

a report that includes the purchase order that was send to the vendor, the vendor invoice listing the quality and quantity of items purchased, and the external receiving reports that verify the items have been sold.

a mammogram that includes the purchase order that was send to the purchaser, the purchaser invoice listing the benefits and quantity of items purchased, and the internal receiving reports that verify the purchased items have been sold.

Question # 35

A special scheme in which employees know their employer is seeking to purchase a certain asset and take advantage of the situation by purchasing the asset themselves is:

Conflict of interest in sale

Turnaround sale or flip

Unauthorized sale

Written sale of unique assets

Question # 36

______________ is required not only for theft, but for procedures to detect errors, avoid waste and insure a proper amount of inventory is maintained.