ACFE CFE-Fraud-Prevention Q&A - in .pdf

  • Exam Code: CFE-Fraud-Prevention
  • Exam Name: Certified Fraud Examiner - Fraud Prevention and Deterrence Exam
  • Q & A: 286 Questions and Answers
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  • Exam Code: CFE-Fraud-Prevention
  • Exam Name: Certified Fraud Examiner - Fraud Prevention and Deterrence Exam
  • Q & A: 286 Questions and Answers
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ACFE CFE-Fraud-Prevention Exam Syllabus Topics:

SectionWeightObjectives
Fraud Prevention Programs15–20%- Communication and training
- Monitoring and continuous improvement
- Designing prevention strategies
White-Collar Crime15–20%- Organizational vs occupational crime
- Definition and characteristics
- Impact on organizations and society
- Causal factors and opportunity structures
- Legal prosecution and sanctions
Understanding Criminal Behavior5–10%- Theories of crime causation
  • 1. Social control and social learning theory
  • 2. Differential association theory
  • 3. Rational choice and routine activities theory
- Behavior modification principles
Corporate Governance20–25%- Governance frameworks and principles
  • 1. Treadway Commission (COSO)
    • 2. OECD guidelines
      - Roles of board, management, auditors
      - Internal control systems
      • 1. COSO five components
        Management's Fraud-Related Responsibilities5–10%- Oversight and accountability
        - Establishing anti-fraud policies
        - Reporting mechanisms
        Fraud Risk Assessment15–20%- Risk analysis and prioritization
        - Risk identification methodologies
        - Assessment implementation and documentation
        Professional Ethics5–10%- Conflicts of interest and integrity
        - ACFE Code of Professional Ethics
        - Ethical decision-making

        ACFE Certified Fraud Examiner - Fraud Prevention and Deterrence Sample Questions:

        Question #1

        A professional organization's code of conduct serves which of the following purposes?

        • A. A code provides answers to all ethical dilemmas that the organization's members might encounter.
        • B. A code acts as a substitute for legal and regulatory requirements that apply to the profession.
        • C. A code facilitates practical enforcement and internal discipline throughout a profession.
        • D. A code offers fewer and less direct solutions to professional ethical dilemmas than might exist under general ethical principles.
        Reveal Solution  Discussion  0

        Correct Answer: C  🗳️

        Explanation: Only visible for TorrentValid members. You can sign-up / login (it's free).

        Question #2

        Employee anti-fraud education should:

        • A. Include descriptions of the procedures that management uses to detect fraud.
        • B. Include examples of prior employee misconduct and how those situations were handled.
        • C. Be restricted to formal educational mechanisms to reinforce the importance of the message.
        • D. Be presented by organizational executives or anti-fraud professionals only.
        Reveal Solution  Discussion  0

        Correct Answer: B  🗳️

        Explanation: Only visible for TorrentValid members. You can sign-up / login (it's free).

        Question #3

        According to the Committee of Sponsoring Organizations of the Treadway Commission (COSO), internal control is defined as:

        • A. A process aimed at proactively identifying, assessing, and managing an organization's vulnerabilities to fraud by both internal and external sources.
        • B. The system that is designed and implemented to eliminate all uncertainty and risk while also ensuring the achievement of organizational goals.
        • C. A process, effected by an entity's board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance.
        • D. The system enacted to ensure effective oversight of the board of directors, management, and all other parties responsible for an organization's direction, operations, and performance.
        Reveal Solution  Discussion  0

        Correct Answer: B  🗳️

        Question #4

        According to criminologist Charles McCaghy, which of the following is the most compelling factor behind deviance by organizations?

        • A. Unethical corporate culture
        • B. Executive failures
        • C. Excessive regulatory requirements
        • D. Profit pressure
        Reveal Solution  Discussion  0

        Correct Answer: D  🗳️

        Question #5

        Which of the following statements about the fraud risk assessment process Is MOST ACCURATE?

        • A. The fraud risk assessment can be effectively conducted by people inside or outside of the organization.
        • B. To ensure the independence of the team members, a fraud risk assessment must be conducted by a consultant or other external party.
        • C. The fraud risk assessment is most effective when management's influence on the process is limited
        • D. If the individuals conducting the fraud risk assessment truly believe that fraud could not happen at the organization, then the assessment process should reflect that belief.
        Reveal Solution  Discussion  0

        Correct Answer: A  🗳️

        Explanation: Only visible for TorrentValid members. You can sign-up / login (it's free).

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