CFE Fraud Prevention and Deterrence Dumps

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questions below. 
1. Gray, an independent Certified Fraud Examiner (CFE), was hired by Green, president of the ABC
Corporation, to investigate allegations that one of ABC's employees is taking kickbacks. During the
investigation.
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Gray teams that Green is involved in an unrelated fraud. Under the ACFE Code of Professional
Ethics. Gray should:
A. Not disclose the information about Green.
B. Report Green to law enforcement
C. Tell the company's board of directors about Green.
D. Resign from the engagement
Answer: C
2. In the area of criminological theory, compliance is the theory that tries to prevent crime by providing
economic incentives for voluntary conformity to the laws and using administrative efforts to control
violations before they occur.
A. True
B. False
Answer: A
3. Stevens, a Certified Fraud Examiner (CFE), was hired to conduct a fraud examination at ABC
Company. His examination did not reveal any conclusive evidence that fraud had occurred or was
occurring. Consequently, ABC's management asked Stevens to state in his official examination report
that the organization is free of fraud as a means of assuring the board of directors that the company's
anti-fraud controls were effective. Under the ACFE Code of Professional Ethics. Stevens is permitted
to comply with management's request based on the findings of his examination.
A. True
B. False
Answer: B
4. Which of the following Is one of the components of the Committee of Sponsoring Organizations of
the Treadway Commission's (COSO) Enterprise Risk Management?Integrating with Strategy and
Performance?
A. Independent monitoring
B. Operating environment
C. Risk tolerance
D. Governance and culture
Answer: D
5. Which of the following criminological theories asserts that the three elements that have the most
influence on crime are the availability of suitable targets, absence of capable guardians, and
presence of motivated offenders?
A. Rational choice theory
B. Differential association theory
C. Routine activities theory
D. Social control theory
Answer: C
6. Which of the following is NOT a responsibility of the organization's board of directors?
A. Serving as the intermediaries between shareholders and management
B. Acting as guardians of the organization's resources and assets
C. Directing employees to execute business activities
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D. Assessing the strategy and underlying purpose of management's decisions and actions
Answer: C
7. According to Diane Vaughan, which of the following factors increases an organization's inherent
inclination toward committing crime?
A. Management seeks out diversity in attitudes and perspectives when hiring employees
B. Rewards are given to employees who challenge the status quo
C. Management links employee performance goals with company performance goals
D. All of the above
Answer: C
8. 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.
Answer: B
9. According to behaviorists such as B. F. Skinner, which of the following scenarios is MOST LIKELY
to occur when an undesired behavior is punished?
A. The behavior will return when punishment ceases
B. The behavior will be permanently suppressed
C. The behavior will occur more frequently.
D. The behavior will not be affected by the punishment
Answer: A
10. According to modern criminological studies, which of the following is the determinant aspect of
white-collar crime?
A. Cultural ties
B. Criminal history
C. Organizational opportunity
D. Social class
Answer: C
11. Which of the following is NOT one of the three general approaches used to control corporate
crime?
A. Strong intervention of the government
B. Voluntary changes in corporate attitudes and structure
C. Consumer action to force change
D. Media blacklisting of the organization
Answer: D
12. The objectives of a fraud risk management program include:
A. Proactively identifying fraud risks
B. Limiting the damage caused by fraud occurrences
C. Punishing fraud perpetrators
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D. All of the above
Answer: D
13. Which of the following is TRUE regarding corporate governance?
A. Fraud risk management is considered to be the foundation of effective corporate governance
B. Corporate governance's primary purpose is to ensure the accuracy of the organization's financial
reports
C. Effective corporate governance practices are most necessary in an organization in which the
owners are also the individuals responsible for setting the corporate strategy.
D. An entity's corporate governance structure specifies the distribution of rights and responsibilities
among the different participants in the organization
Answer: D
14. Which of the following statements Is TRUE regarding how fraud examiners should exercise
professional skepticism during a fraud examination engagement?
A. Fraud examiners should not relax their skeptical attitudes under any circumstances.
B. Professional skepticism involves maintaining a mindset that no fraud has occurred
C. Fraud examiners should form the engagement hypothesis without regard to the nature of the
assignment
D. Professional skepticism can be dispelled only by evidence
Answer: D
15. In the context of fraud examination, integrity requires all of the following EXCEPT:
A. An ability to analyze situations where no professional rules are specifically applicable and
determine right from wrong
B. Subordination of desires for personal gain to the interests of clients, employers, and the public
C. Independence of mental attitude
D. Avoidance of differences of opinion
Answer: D
16. Which of the following Is TRUE regarding an organization's ethics program?
A. To be most effective, access to the organization's ethics policy should be restricted to employees
and other Internal parties only
B. In designing the ethics program, management should consider whether the organization currently
has any ethical leadership Issues
C. An effective written ethics policy alone is sufficient to communicate management's ethical
philosophy and serve as a comprehensive ethics program
D. All of the above
Answer: B
17. Which of the following criminological theories states that individuals make a conscious decision to
commit a crime and that crime can be deterred by reducing opportunities for criminal activity and
increasing an individual's personal risk of being caught and punished?
A. Routine activities theory
B. Differentialassociation theory
C. Rational choice theory
D. Social conflict theory
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Answer: C
18. Professional auditing standards suggest that auditors incorporate an "element of predictability" in
the selection of auditing procedures to be performed so that they ensure the same areas are tested in
the same manner during each audit.
A. True
B. False
Answer: B
19. Formally documenting and communicating organizational hierarchies, including the proper flow of
information, can hinder an organization's fraud prevention initiatives.
A. True
B. False
Answer: B
20. Benjamin, a Certified Fraud Examiner (CFE). was contacted regarding an engagement to
investigate a complex money laundering case spanning numerous international jurisdictions and
involving multiple cutting-edge technologies. Benjamin had previously attended a seminar on
investigating money laundering schemes, but he had no other training or experience in such cases.
However, he accepted the engagement and chose to conduct the work himself. Benjamin's conduct
would likely be a violation of the ACFE Code of Professional Ethics.
A. True
B. False
Answer: A
21. Which of the following is one of the components of the Committee of Sponsoring Organizations of
the Treadway Commission's (COSO) Enterprise Risk Management?Integrating with Strategy and
Performance?
A. Event avoidance
B. Risk tolerance
C. Compliance
D. Review and revision
Answer: D
22. Jenny is a highly respected employee at XYZ Corp. Her husband's gambling addiction has
caused them to have a significant amount of debt. Jenny begins stealing money from the company to
cover her husband's gambling losses.
This situation best illustrates which leg of the Fraud Triangle?
A. Rationalization
B. Perceived opportunity
C. Perceived acquiescence
D. Perceived non-shareable financial need
Answer: A
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