CFE Exam A
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CFE Exam A
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25 Questions

1. Financial statement fraud is committed by:
2. A typical issue involving material and fraud would be:
3. By removing a tangible asset from the business (a debit), the books will be ___________ by the exact amount of the tangible asset misappropriated.
4. Once the expense account is closed, it becomes a historical item and probably will never be reviewed again.
5. Employees steal an incoming payment and then place the incoming funds in an interest bearing account for:
6. A shell company scheme in which actual goods or services are sold to the victim company is known as:
7. Which of the following is NOT the type of billing scheme?
8. In ___________ scheme, an employee creates false vouchers or submits false invoices to the employer.
9. A process by which several bidders conspire to split contracts up and ensure that each gets a certain amount of work is called:
10. ___________ and __________ are used to increase (or decrease) the equity account.
11. How many accounts are affected in fraudulent accounting entries and therefore same number of categories on the financial statement?
12. In which phase of competitive bidding process, fraudsters attempt to influence the selection of a contractor by restricting the pool of competitors from whom bids are sought?
13. Placing any restriction in the solicitation documents that tend to restrict competition is called prebid solicitation.
14. _________ normally are carried on an organization
15. __________ is required if and when officers, executives or other persons in trusted positions become subjects of a criminal indictment.
16. ________ increase assets and expenses and/or decrease liabilities and/or equity
17. Skimming is:
18. By what accountant means that the financial figures presented by the company are at least as much as reflected in the statements, if not more.
19. ____________ is a process by which a bookkeeper records all transactions and can adjust the books.
20. 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:
21. Which of the following factors is NOT included in most financial statement schemes?
22. Multiple cashiers operate from a single cash drawer without separate access codes is a red flag for:
23. The more power a person has over the bidding process, the more likely the person can influence the selection of a supplier.
24. Undisclosed payments made by vendors to employees of purchasing companies are referred to as:
25. Which of the following are used in a short-term skimming scheme?

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