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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:

SectionObjectives
Financial Crimes- Money Laundering
  • 1. Placement, layering, integration stages
    - Banking and Payment Fraud
    • 1. Check and credit card fraud
      • 2. Wire fraud and electronic transfers
        Fraud Schemes- Financial Statement Fraud
        • 1. Revenue recognition manipulation
          • 2. Asset overstatement and liability concealment
            - Asset Misappropriation Schemes
            • 1. Billing and expense reimbursement fraud
              • 2. Skimming and cash larceny
                Fraud Investigation and Analysis- Evidence collection and documentation
                • 1. Chain of custody principles
                  - Data analysis in fraud detection
                  • 1. Trend and anomaly identification

                    ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:

                    1. 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) True
                    B) False


                    2. Brad owns a failing business that sells various types of raw stone for homes. Brad decides to file for bankruptcy on behalf of the company, but one month before doing so, he transfers several expensive slabs of marble to his son's construction business at no charge. Which type of fraud scheme has Brad MOST LIKELY committed?

                    A) A concealed transfer
                    B) A planned bustout
                    C) A fraudulent bankruptcy
                    D) A fraudulent conveyance


                    3. ________ decrease assets and expenses and/or increase liabilities and/or equity.

                    A) Credit
                    B) Journal Entries
                    C) Debit
                    D) None of all


                    4. A ____________ can be very costly for an organization to undertake, both in terms of money and time spent.


                    5. Baker, an employee of ABC Corporation, is the only employee who has control of the purchasing function for his department. Baker authorizes an order for supplies that ABC does not need and uses these supplies to make improvements to his house. This is an example of what kind of fraud?

                    A) Theft of inventory
                    B) Pay-and-return scheme
                    C) Pass-through scheme
                    D) Personal purchases with company funds


                    Solutions:

                    Question # 1
                    Answer: A
                    Question # 2
                    Answer: D
                    Question # 3
                    Answer: A
                    Question # 4
                    Answer: Only visible for members
                    Question # 5
                    Answer: D

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