Certified Fraud Examiner - Financial Transactions and Fraud Schemes Exam
Last Update Jan 14, 2026
Total Questions : 235
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Warner is part of management at ABC Corporation. He has been asked to implement measures to help prevent fraudulent billing schemes. Which of the following measures would likely be MOST EFFECTIVE?
Every bribe is a two-sided transaction, in which where a vendor bribes a purchaser, there is someone on the vendor’s side of the transaction who is not making an illicit payment.
A running count that records how much inventory should be on hand is referred to:
Which of the following would be MOST INDICATIVE of loan fraud in a draw request submitted by a construction developer?
The behavior profile of employees who are involved in bribery schemes may include:
Which of the following is a TRUE statement about counterfeit payment cards?
White used a company vehicle for unauthorized, personal purposes while working in a different city. He provided false written and oral information regarding the use of the vehicle. The vehicle was returned without damages. What type of fraud did White commit?
Which of the following is an example of a technical security control that organizations can use to secure computer systems and communication networks?
Which of the following is a recommended activity that organizations should engage in to protect their proprietary information from threats?
Which of the following is a method of identity theft prevention that is recommended for businesses?
__________ means that traditional bribery statutes proscribe only payments made to influence the decisions of government agents or employees.
__________ inventory and other assets is a relatively common way for fraudsters to remove assets from the books before or after they are stolen.
In ____________ scheme, a supplier pays an employee of the purchasing company to write specifications that will require amendments at a later date.
In which phase of the competitive bidding process do fraudsters attempt to influence the selection of a contractor by restricting the pool of competitors from whom bids are sought?
Which of the following ratios can be used to determine the efficiency with which a company uses its assets?
Which of the following is a red flag that might indicate that someone is attempting to commit insurance fraud?
The person or persons who have access to __________ are often the targets of unethical vendors seeking an advantage in the process.
In the fraud scale, pressure, opportunity, and integrity variables all result in a list of ___ possible red flags or indicators of occupational fraud and abuse.
Which of the following factors is NOT included in most financial statement schemes?
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 fraudster creates a fictitious identity by combining a person's real government identification number with a fabricated name and birthdate. This scheme can BEST be described as:
To detect fraud committed by a health care provider, a fraud examiner should look for which of the following red flags?
___________ and __________ are used to increase (or decrease) the equity account.
To prevent expense reimbursement fraud, it is recommended that companies require employees to submit receipts electronically.
Employees steal an incoming payment and then place the incoming funds in an interest-bearing account for:
Georgina works for TAK Intelligence, a competitive intelligence firm. She is tasked with gathering intelligence about ERO Corp., a competitor of one of TAK's clients. To gather the intelligence, Georgina poses as a customer and contacts ERO. She then elicits sensitive information from an ERO employee. Georgina's approach is an example of:
Which of the following is a condition that facilitates insider cyberfraud?
What type of fraud scheme would MOST LIKELY be revealed by comparing a company's personnel records with its payroll records to identify duplicate addresses and government identification numbers?
Which of the following offender types are people who take the money and run away?
Which of the following is the MOST APPROPRIATE technique for detecting a cost mischarging scheme?
Which of the following scenarios BEST describes an electronic funds transfer (EFT) fraud scheme?
Occupational fraud and abuse is a (an) __________ of doing business, in much the same way that we pay expenses for electricity, taxes, and wages.
Which of the following statements is MOST ACCURATE regarding financial reporting practices and accounting frameworks, such as U.S. generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS)?
Which of the following is NOT the reason why senior management will overstate business statements?
The act of an official or fiduciary person who unlawfully and wrongfully uses his station or character to procure some benefit, contrary to duty and rights of others, is called:
__________ may be defined as the offering, giving, receiving, or soliciting anything of value to influence an official act.
Another way to eliminate competition in the solicitation phase of the selection process is to:
Which of the following is NOT a method for stealing inventory and other assets?
Which of the following is a common way that dishonest contractors collude to evade the competitive bidding process?
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.
Entering a sales total lower than the amount actually paid by the customer is called:
Which of the following fraud schemes is MOST LIKELY to target members of a religious community?
Financial statement fraud is BEST described as the intentional or accidental misstatement of amounts in the financial statements.
Baker, an employee of ABC Corporation, was the only employee who had control of the purchasing function for his department. Baker authorized the purchase of supplies that ABC did not need and used these supplies to make improvements to his house. This is an example of what kind of fraud?
Any expenses that are incurred but not paid by the end of the year are counted in our records of profit and loss, and are called:
All the following are basic methods used to prove corrupt payments in corruption schemes EXCEPT:
Reconciling the sales records to the cash receipts is an effective way to detect a sales skimming scheme.
Accounting records are designed to be kept on subjective rather than objective evidence.
Which of the following is FALSE concerning methods that corporate spies generally use to steal information from other organizations?
Which of the following scenarios is the MOST ACCURATE example of insurer health care fraud?
_________ is defined as a person who works for the victim organization and who is the primary culprit.
Which of the four basic measures, if properly installed and implemented, may help prevent inventory fraud?
TESTED 14 Jan 2026
