CFE-Fraud-Prevention-and-Deterrence Practice Online

Question 1

Black a Certified Fraud Examiner (CFE), was hired to conduct a fraud examination He did not find fraud, but in Black's opinion the controls he examined were deficient Under the ACFE Code of Professional Ethics Black is not permitted to express his opinion on the deficient controls.

A : True

B : False

Answer: B

Question 2

Which of the following is NOT one of the three general approaches used to control corporate crime?

A : Withdrawal of financial institution funding

B : Strong intervention of the government

C : Consumer action to force change

D : Voluntary changes in corporate attitudes and structure

Answer: A

Question 3

Reporting known incidents of fraud to law enforcement can be an effective fraud prevention mechanism.

A : True

B : False

Answer: A

Question 4

During an external audit, the audit team identifies evidence that management has Intentionally manipulated the organization's reported revenue amount However, the amount of the resulting misstatement does not meet the quantitative materiality threshold for the audit. Which of the following is TRUE regarding this situation?

A : The auditors should reconsider the reliability of the audit evidence they have previously obtained.

B : The auditors should assume that all audit evidence collected previously is unreliable and withdraw from the audit engagement.

C : The auditors should only consider the evidence if they can determine that the actions meet the legal definition of fraud.

D : The auditors should regard the misstatement as immatenal to the audit because the omitted amount is less than the quantitative materiality threshold

Answer: D

Question 5

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

Name:	Certified Fraud Examiner - Fraud Prevention and Deterrence
Exam Code:	CFE-Fraud-Prevention-and-Deterrence
Certification:	Certified Fraud Examiner
Vendor:	ACFE
Total Questions:	143
Last Updated:	Apr 24, 2024

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