[Sep-2021] Pass ACFE CFE-Investigation Exam in First Attempt Guaranteed!
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NEW QUESTION 33
Which of the following is a method of tracing assets that would yield the best result when several of the subject's assets or liabilities have changed during the period under examination and the subject a financial records are not available?
- A. Regression analysis
- B. Bank deposit method
- C. Net worth method
- D. Benford's Law analysis
Answer: C
NEW QUESTION 34
Fraud examination repots should be written with which of the following audiences in mind?
- A. Judges or juries
- B. Opposing legal counsel
- C. Witnesses
- D. At of the above
Answer: D
NEW QUESTION 35
Which of the following is a reason why a person or organization might engage a fraud examiner to trace illicit transactions?
- A. A victim of fraud wants to facilitate the recovery of criminal proceeds
- B. An entity needs to find hidden relationships In big data that otherwise would not be discovered
- C. An employer wants to know If an employee is falsifying regulatory reports.
- D. An attorney wants to evaluate an experts financial report.
Answer: B
NEW QUESTION 36
Which of the following is the MOST ACCURATE statement about the privacy of information shared through social media?
- A. A fraud examiner cannot be held liable for violating a user's privacy rights if they hack or break into areas of a social networking site designated as private because all social media Information is public
- B. To access any user-posted information on social media sites fraud examinees must obtain some type of legal order from the Jurisdiction in which the user resides.
- C. the Privacy of Social Networks Treaty is a binding international treaty that makes it illegal for law enforcement to seek social media login credentials from users.
- D. Hacking or breaking into information on social media sites that is restricted as private could result in liability for fraud examiners due to violation of users privacy rights
Answer: C
NEW QUESTION 37
Lisa a fraud examinee at a private company receives an anonymous call from a potential whistIeblower. The whistleblower s hesitant to reveal their identity but will do so if it can be kept fully confidential Which of the following statements is most accurate?
- A. Lisa may promise the whistieblower full confidentiality even if she knows net statement is untrue, because the lie is ultimately beneficial to her employer.
- B. Lisa should explain that she will try her best to keep the whisneblower's identity confidential
- C. Lisa may offer the whistleblower full confidentially because they are not a suspect.
- D. Lisa should state that she will not be able to keep the whistleblower s identity confidential because all information must be disclosed to management
Answer: B
NEW QUESTION 38
Amanda needs to know the location of the principal office and the date of incorporation of a company she is investigating. Which of the following sources would most likely contain these items of Information?
- A. The comprehensive litigation fie in the local court in the jurisdiction in which the company is headquartered
- B. The contractual records of any real properly owned by the corporation
- C. The company's income tax filings
- D. The organizational fling with the government of the jurisdiction in which the company is incorporated
Answer: D
NEW QUESTION 39
Foster a Certified Fraud Examiner (CFE), needs to obtain a copy of a picture that a former employee of Friendly Interior an interior design studio posted on the company's website three years ago. Unfortunately because the website has since been updated the picture is no longer available on the website. Which of the following resources should Foster consult to find an earlier version of the Web page he needs?
- A. The invisible Web
- B. The internet archives
- C. The deep Web
- D. The Library of Congress
Answer: B
NEW QUESTION 40
Why do fraud examiners perform analysis on unstructured or textual data?
- A. To find an admission of fraud in an email or other communication that can be presented m court
- B. To categorize data to reveal patterns sentiments and relationships indicative of fraud
- C. To figure out whether someone is tying or telling the truth based on context dues
- D. To determine whether the footnotes to the financial statements are fatly presented
Answer: B
NEW QUESTION 41
Naveed, a fraud suspect has decided to confess to Omar a Certified Fraud Examiner (CFE) In obtaining a verbal confession from Naveed. Omar should obtain all of the following Horns of information EXCEPT:
- A. A statement from Naveed that his conduct was an accident
- B. The approximate number of instances
- C. A general estimate of the amount of money invoked
- D. The location of any residual assets
Answer: A
NEW QUESTION 42
Arnold a Certified Fraud Examiner (CFF) for Integra Wealth, learns that Elizabeth an accounts payable clerk, recently purchased an expensive ski boat. Arnold also knows that Elizabeth recently purchased a vacation home on a nearby lake Arnold has sufficient predication to:
- A. Conduct discreet inquiries into Elizabeth's responsibilities as an accounts payable clerk.
- B. Search Elizabeth's mobile phone for evidence of misconduct
- C. Accuse Elizabeth directly of having committed fraud
- D. Notify management of that Elizabeth has committed fraudulent acts.
Answer: A
NEW QUESTION 43
If the following statements were Included in a fraud examination report of a qualified expert, which of them would be IMPROPER?
- A. ''When asked s second lima about the amount of funds missing the suspect contradicted their previous testimony"
- B. "In light of all the evidence the suspect is most Italy guilty of fraud against the organization
- C. The evidence shows that between S1 million and $1.5 million in assets were transferred to an offshore account".
- D. the organization must address the inadequate segregation of accounting duties to prevent such an event from happening again.''
Answer: B
NEW QUESTION 44
Which of the following is TRUE of a follow-up/recommendations section in a written fraud examination report?
- A. A follow-up/recommendations section should stale remedial measures for me organization !o undertake
- B. All of the above
- C. follow-up/recommendations section calculates the amount of fraud-related loss sustained by the organization
- D. A follow-up/recommendations section is a required part of every written fraud examination report.
Answer: A
NEW QUESTION 45
Mary the payroll manager at Reed Co, suspects that there might be a ghost employee scheme occurring. She wants to ensure no two employees on the payroll have the same government Identification number. Which of the following data analysis functions would be most useful for this test?
- A. Linear regression
- B. Duplicate search
- C. Correlation analysis
- D. Benford's Law analysis
Answer: B
NEW QUESTION 46
Which counts sometimes can give rise to inventory theft detection?
- A. Perpetual inventory counts
- B. Concealment inventory counts
- C. None of the above
- D. Physical inventory counts
Answer: D
NEW QUESTION 47
In response to an accusation made during an admission-seeking interview the subject Begins to voice a denial to the charge. How should the interviewer react to the first indication of a sublets denial'
- A. Allow the subject to continue denying the charge
- B. Interrupt the denial by using a delaying tactic
- C. Argue the point directly with the subject until a confession is obtained
- D. Remind the subject of the laws against perjury
Answer: D
NEW QUESTION 48
When a Certified Fraud Examiner (CFE) conducts a fraud examination the fraud examiner must proceed as though:
- A. The case will end in ligation
- B. The matter will be resolved completely internally
- C. The suspect is gully
- D. The case will end after the suspect IB terminated
Answer: A
NEW QUESTION 49
Tonya, a suspect in a kickback scheme is being interviewed by Carlos, a fraud examiner As the interview progresses. Carlos notices that Tonya is exhibiting signs of stress such as repeatedly touching her face, crossing and uncrossing her legs and darting her eyes around the room. Carlos should conclude that Tonya's behavior is the result of deception.
- A. False
- B. True
Answer: A
NEW QUESTION 50
A fraud examiner is based in Mexico, a non-European Union (EU) country and is collecting personal information from their company human resources (MR) files about an employee based in Germany an employee based country Based on these facts. The fraud examiner would need to comply with the EU's General Data Protection Regulation (GDPR) when conducting their Internal investigation.
- A. True
- B. False
Answer: A
NEW QUESTION 51
Which of the following statements about the process of obtaining a verbal confession is TRUE?
- A. Fraudsters tend to overestimate the amount of kinds Involved in the offense to relieve themselves of the guff, of their dishonest actions
- B. The transition from the accusation to the confession should occur when the accused supplies the first detailed information about the offense.
- C. The only acceptable approaches to obtaining a verbal confession are chronologically or by transaction
- D. If the subject lies about an aspect of the offense In the process of confessing it is best to coned the records immediately before proceed.
Answer: B
NEW QUESTION 52
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