Pass the ACFE Certified Fraud Examiner CFE-Financial-Transactions-and-Fraud-Schemes Questions and answers with ValidTests

Conflict of interest

Turnaround sale or flip

Disclosure

Resource diversion

when an employee must have some kind of ownership or employment interest in the vendor submitting the invoice.

when a salesman must have some kind of ownership or employment interest in the vendor submitting the sales.

when a purchaser must have some kind of ownership or employment interest in the vendor submitting the purchase.

when a dealer must have some kind of dealership interest in the vendor submitting the stock.

Increasing another asset

Increasing owners' equity

Increasing a liability

Creating fictitious revenue

It is more likely that fraud will occur in established accounts than in accounts that are still considered to be new.

Mobile deposits are at high risk for new account fraud because fraudsters can easily make deposits using forged or counterfeit images.

New account fraud can be defined as any fraud that occurs on an account during the first six months that it is open.

Automated teller machines (ATMs) are rarely targets of new account fraud because it is easier for criminals to commit fraud via face-to-face transactions.

Misrepresentations fraud

Fictitious claims fraud

Third-party fraud

Multiple claims fraud

Having the accounts receivable clerk prepare the bank deposit

Prohibiting employees from performing the duties of an absent employee

Reconciling cash register totals to the amount of cash in the register drawer

Requiring cashiers to perform cash counts of their own cash registers at the end of each shift

Altered inventory

Account receivable

Shrinkage

Write-offs

True

False

True

False