Practice CFE-Fraud-Prevention-and-Deterrence Exam Online

Question 1

Professional auditing standards require that auditors incorporate an 'element of unpredictability' in the selection of auditing procedures to be performed.

A : True

B : False

Answer: A

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

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 4

Which of the following would MOST LIKELY be a violation of the ACFE Code of Professional Ethics?

A : Green a CFE, uncovered several material internal control deficiencies unrelated to the financial statement fraud he was investigating. In his final report to management. Green included information about the deficiencies even though they were unrelated to the situation he was hired to investigate.

B : Stephanie, a CFE, accepted a fraud examination assignment and then instructed a lower-level employee to assess the company's cash records for signs of fraud. She took his word when he said there was no evidence of wrongdoing and ended up failing to uncover a very costly fraud scheme.

C : Susan, a CFE, was hired by a client to conduct a fraud examination but found nothing amiss A year later, she received a legal order from the local prosecutor's office to provide the client's file. Susan complied with the court order, even though she did not have the client's authorization to do so.

D : All of the above are violations

Answer: B

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 25, 2024

ACFE CFE-Fraud-Prevention-and-Deterrence