CFE-Fraud-Prevention-and-Deterrence Free Practice Test

Which of the following is FALSE regarding a fraud risk assessment?

1. A. The designation of an area as being high risk does not conclusively mean that fraud is occurring there
2. B. The objective of the assessment is to provide an estimate of the organization s fraud losses
3. C. The assessment should be used to improve employee fraud awareness
4. D. The assessment team should consider how employees behave as part of its assessment

Correct Answer: B

According to the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Internal Control—Integrated Framework (the Framework), there are five interrelated components of a company's internal control. Which of the following is NOT among these five components?

1. A. Ethical culture
2. B. Risk assessment
3. C. Control activities
4. D. Monitoring

Correct Answer: A

Jenny is a highly respected employee at XYZ Corp Her husbands gambling addiction has caused them to have a significant amount of debt Jenny begins stealing money from the company to cover her husbands gambling losses. This situation best illustrates which leg of the Fraud Triangle?

1. A. Perceived opportunity
2. B. Rationalization
3. C. Perceived non-shareable financial need
4. D. Perceived acquiescence

Correct Answer: C

According to modern criminological studies, which of the following is the determinant aspect of white-collar crime'?

1. A. Organizational opportunity
2. B. Absence of risk factors
3. C. Potential legal punishment
4. D. Social status

Correct Answer: D

Sofia, a Certified Fraud Examiner (CFE). look an introductory class in computer forensics When a client thought there might be evidence of a crime on his hard drive. Sofia decided to conduct a forensic examination of the hard drive even though she had no experience or advanced training in this area Sofia's conduct would likely be a violation of the ACFE Code of Professional Ethics

1. A. True
2. B. False

Correct Answer: A