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CFE Updated Exam Dumps [2025] Practice Valid Exam Dumps Question
The Certified Fraud Examiner (CFE) certification is a globally recognized credential awarded by the Association of Certified Fraud Examiners (ACFE) to professionals who have demonstrated expertise in the field of fraud prevention, detection, and investigation. CFE exam is designed to test candidates’ knowledge and understanding of fraud-related topics such as financial transactions, fraud schemes, legal elements of fraud, and investigation techniques.
NEW QUESTION # 77
The most common method of detection in corruption cases is:
- A. Internal audits
- B. Tips
- C. By accident
- D. Internal controls
Answer: B
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 78
In which of the following process, all bidders are legally supposed to be placed on the same plane of equality, bidding on the same terms and conditions?
- A. Competitive bidding
- B. Bid solicitation
- C. Bid-rigging
- D. Kickbacks
Answer: A
NEW QUESTION # 79
False billing scheme states that:
- A. employees do not cause their company to purchase merchandise that the company does not need.
- B. employees cause their company to purchase merchandise that the company does not need
- C. employees cause their company to sale merchandise that the company does not need.
- D. employees do not cause their company to sale merchandise that the company does not need.
Answer: B
NEW QUESTION # 80
False billing scheme states that:
- A. employees do not cause their company to purchase merchandise that the company does not need.
- B. employees cause their company to purchase merchandise that the company does not need
- C. employees cause their company to sale merchandise that the company does not need.
- D. employees do not cause their company to sale merchandise that the company does not need.
Answer: B
Explanation:
Section: Financial Transactions and Fraud Schemes
Explanation
NEW QUESTION # 81
Collusion or bid-rigging between bidders is called
- A. Bribery receipt
- B. To withdraw low bids
- C. Bid solicitation
- D. Contract acceptance
Answer: D
NEW QUESTION # 82
Larceny is the scheme in which an employee simply takes inventory from the company premises without attempting to conceal it in the books and records.
- A. False
- B. True
Answer: B
Explanation:
Section: Financial Transactions and Fraud Schemes
Explanation/Reference:
NEW QUESTION # 83
Undisclosed payments made by vendors to employees of purchasing companies are referred to as:
- A. Presolicitaion
- B. Bid-rigging
- C. Kickbacks
- D. None of the above
Answer: C
NEW QUESTION # 84
Undisclosed payments made by vendors to employees of purchasing companies are referred to as:
- A. Presolicitaion
- B. Bid-rigging
- C. Kickbacks
- D. None of the above
Answer: C
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 85
Which are check tempering frauds in which an employee prepares a fraudulent check and submits it usually along with legitimate checks to an authorized maker who signs it without a proper review?
- A. Concealed check scheme
- B. Endorse check scheme
- C. Legitimate check scheme
- D. Payable check scheme
Answer: A
Explanation:
Section: Fraud Prevention and Deterrence
NEW QUESTION # 86
Verify supporting documentation on outstanding checks written for a material amount is a test used to conduct for:
- A. Cut-off statements
- B. Check disbursement
- C. Bank confirmation
- D. Bank confirmation
Answer: D
NEW QUESTION # 87
Which of the following is not the skimming scheme?
- A. Understand sales and receivables
- B. Theft of checks through the mail
- C. Fraud & Cost
- D. Unrecorded sales
Answer: C
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 88
Which of the following factors is NOT included in most financial statement schemes?
- A. Persuasive Evidence
- B. Fictitious revenues
- C. Concealed liabilities and expenses
- D. Improper asset valuations
Answer: A
NEW QUESTION # 89
The prime targets for skimming schemes which are hard to monitor and predict such as late fees and parking fees, are:
- A. Internal audits
- B. Recorded sales
- C. Revenue sources
- D. Register manipulations
Answer: C
NEW QUESTION # 90
_________ revenues involve the recording sales of goods or services hat did not occur.
- A. Financial revenues
- B. Red flag revenues
- C. Fictitious or fabricated revenues
- D. Concealed revenues
Answer: C
Explanation:
Section: Financial Transactions and Fraud Schemes
Explanation
NEW QUESTION # 91
_________ revenues involve the recording sales of goods or services hat did not occur.
- A. Financial revenues
- B. Red flag revenues
- C. Fictitious or fabricated revenues
- D. Concealed revenues
Answer: C
NEW QUESTION # 92
The essential elements of a ________ are an actual or constructive taking away of the goods or property of another with the without the consent and against the will of the owner and with a felonious intent.
- A. Fiduciary
- B. Abuse
- C. Larceny
- D. None of the above
Answer: C
NEW QUESTION # 93
Which of the four basic measures, if properly installed and implemented may help prevent inventory fraud?
- A. prenumbered affiliations, segregation of duties, independent checks and physical safeguards
- B. Proper documentation, segregation of duties, independent checks and inventory control
- C. Proper documentation, physical padding, independent checks and physical safeguards
- D. Proper documentation, segregation of duties, independent checks and physical safeguards
Answer: D
NEW QUESTION # 94
"Anticipate possible losses and omit potential profits", this results in:
- A. Bearing accounting
- B. Playing accounting
- C. Symmetrical accounting
- D. Asymmetrical accounting
Answer: D
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 95
The price of an asset on which the asset is selling at on the open market in a transaction between a willing buyer and a wiling seller is called:
- A. Cost value
- B. Fair value
- C. Absolute value
- D. material value
Answer: B
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 96
A typical issue involving material and fraud would be:
- A. Fraudulent statement
- B. Quality control
- C. Misappropriations
- D. Civil lawsuit
Answer: C
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION # 97
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:
- A. Register false voids
- B. Concealing register disbursement
- C. Registry destroying records
- D. Fraudulent register occurrences
Answer: B
NEW QUESTION # 98
Bank cut-off statements should be requested for 10-15 days after the closing date of the balance sheet.
- A. False
- B. True
Answer: B
Explanation:
Section: Investigation
NEW QUESTION # 99
In which approach, fraudsters produce whatever financial statements they wish, perhaps using just a typewriter or a personal computer.
- A. Playing the accounting
- B. Outside accounting system
- C. Beating accounting
- D. Organized accounting
Answer: B
NEW QUESTION # 100
Statistical sampling enables the examiner to predict the occurrence rate for the population and therefore determine with some accuracy the error rate, or the potential for fraud.
- A. False
- B. True
Answer: B
NEW QUESTION # 101
The person or persons who have access to __________ are often the targets of unethical vendors seeking an advantage in the process.
- A. General purchasing
- B. Sealed bids
- C. Bid-splitting
- D. Tailor specifications
Answer: B
NEW QUESTION # 102
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The CFE exam is a computer-based test that consists of 500 multiple-choice questions. Candidates have four hours to complete the exam, and it is administered at testing centers around the world. CFE exam is designed to test the knowledge, skills, and abilities that are essential for fraud examiners, including identifying and preventing fraud, conducting investigations, and presenting findings in a clear and concise manner.
Passing the ACFE CFE examination is a significant achievement that demonstrates a high level of expertise in fraud prevention and detection. Individuals who pass the exam are awarded the CFE credential, which they can use to demonstrate their expertise to employers, clients, and colleagues. Additionally, CFEs are required to complete ongoing professional education to maintain their credential, ensuring that they stay up-to-date with the latest developments in fraud prevention and detection.
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