CFE Fraud Prevention and Deterrence 시험 - ACFE실제시험문제와 답 - 100문항

Question No : 1

During an external audit, the audit team identifies evidence that management has intentionally omitted some expenses from the company's financial statements in order to conceal an asset misappropriation scheme. 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 assume that all audit evidence collected previously is unreliable and withdraw from the audit engagement
B.The auditors should assess the need to adjust the nature, timing, and extent of remaining audit procedures based on this evidence.
C.The auditors can ignore the misstatement because the omitted amount is less than the quantitative materiality threshold and therefore immaterial to the audit.
D.The auditors do not need to be concerned with this evidence, as asset misappropriation schemes are not considered relevant or material for external audit purposes.

정답:

Question No : 2

Glenda. an internal auditor, and Brldgette. an accounts receivable clerk, have had several heated disagreements over accounting procedures and policies. Glenda has just been told that she will be the lead on the company's fraud risk assessment.
During the fraud risk assessment. Glenda should:

A.Confront Bridgette about the disagreements and discuss how they increase the department's risk of fraud.
B.Include her disagreements with Bridgette as a factor when assessing the risk of fraud in the accounts receivable department.
C.Automatically designate the accounts receivable department as a high-risk area.
D.Have someone else perform the fraud risk assessment work related to the accounts receivable department's activities.

정답:
Explanation:
The key to an effective fraud risk assessment is objectivity. Given the history of disagreements between Glenda and Bridgette, Glenda's objectivity in assessing the risk of fraud in the accounts receivable department might be called into question. Having someone else perform the risk assessment in that area would help ensure an impartial assessment. Personal disagreements should not necessarily be viewed as indicators of higher fraud risk. However, if the disagreements reflect deeper issues (such as a lack of controls, weak oversight, or cultural problems), these should be assessed independently of the personal conflict.

Question No : 3

The internal auditor's fraud-related responsibilities include which of the following?

A.Obtaining reasonable assurance that the organization's financial statements are free of material misstatements caused by fraud
B.Overseeing management's actions to manage fraud risks
C.Evaluating indicators of fraud and deciding whether any further action is necessary or whether an investigation should be recommended
D.Establishing and maintaining effective anti-fraud controls at a reasonable cost

정답:
Explanation:
While internal auditors play a crucial role in identifying, assessing, and managing fraud risks, they are not typically responsible for obtaining reasonable assurance about the absence of material misstatements in financial statements (typically the responsibility of external auditors). They also do not have the direct responsibility of establishing and maintaining anti-fraud controls (that's management's role) or overseeing management's actions to manage fraud risks (usually the role of the board or audit committee). Internal auditors should evaluate potential fraud indicators and determine the need for further action or investigation.

Question No : 4

Which principle of corporate governance pertains to the disclosure of all material matters that the shareholders need to make timely and informed decisions regarding their investment in the company?

A.Transparency
B.Fairness
C.Responsibility
D.Accountability

정답:

Question No : 5

Blue. Inc. is a specialty retailer of customized shipping containers. The company receives a very large order from Green Company, a new customer from a country that is known to have high corruption risks.
Which of the following is MOST ACCURATE regarding the due diligence procedures Blue should perform on Green before proceeding with this transaction?

A.Blue should consider Green's expected purchasing pattern and method of payment in determining whether to accept the transaction.
B.Blue only needs to undertake due diligence procedures if Green is requesting to pay on credit.
C.Blue should perform the same level of due diligence as it would for any other customer to avoid claims of discrimination.
D.Blue does not need to undertake any specific due diligence procedures for this transaction.

정답:

Question No : 6

Which of the following statements regarding recommended vendor due diligence procedures is MOST ACCURATE?

A.An organization should subject vendors to an internal audit conducted by the organization's own auditors before agreeing to do business with them.
B.An organization should avoid revealing that it is seeking information about potential vendors prior to starting a relationship with them.
C.An organization should request that new vendors fill out a questionnaire about their background immediately after signing a contract with them.
D.An organization should include a clause in the contract requiring the vendor to report any misconduct before entering into an agreement with them.

정답:

Question No : 7

Green, a Certified Fraud Examiner (CFE). had an ethical dilemma regarding her business contract with her professional partners.
Which of the following sources of guidance would be considered the lowest level of reference to help Green in determining the most ethical course of action?

A.Contract law
B.Guidance from her family and friends
C.The ACFE Code of Professional Ethics
D.Philosophical principles related to ethics

정답:
Explanation:
Guidance from family and friends, while potentially valuable on a personal level, is considered the lowest level of reference for professional ethical guidance. This is because such advice is often subjective and may not consider all the professional and legal implications of a given situation.

Question No : 8

During a fraud risk assessment, the assessment team is seeking information on the ethical tone set by upper and middle managers. The team members determine that, for this task, they would like to get candid one-on-one feedback from employees away from their peers.
Which of the following techniques would be most helpful for them to use in gathering this information?

A.Interviews
B.Focus groups
C.Anonymous feedback mechanisms
D.Surveys

정답:

Question No : 9

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

A.The objective of the assessment is to help the organization identify what makes it most vulnerable to fraud.
B.The assessment should be used to improve employee fraud awareness
C.The assessment team should consider how employees behave as part of its assessment
D.The designation of an area as high risk should only occur if the assessment has conclusively revealed that fraud is occurring there.

정답:

Question No : 10

Which of the following is an example of organizational crime?

A.A salesman offering bribes to secure a contract
B.An accounting clerk forging company checks to herself
C.A doctor conspiring with patients to Tile false health care insurance claims
D.Management of several construction companies engaging In bid rigging

정답:

Question No : 11

Which of the following is NOT a factor that directors and management should consider when developing a corporate governance framework for an organization?

A.The legal and regulatory environment in which the organization operates
B.The ability of the framework to remain static during changes in the corporate landscape
C.The organization's ethical environment
D.The organization's cultural environment

정답:

Question No : 12

According to the differential reinforcement theory, behavior is weakened when positive rewards are gained or punishment is avoided.

A.True
B.False

정답:

Question No : 13

While, a Certified Fraud Examiner (CFE). was hired to conduct a fraud examination She did not find fraud, but. In White's opinion, there were several internal control deficiencies that, if not remediated, could facilitate the occurrence of fraud Under the ACFE Code of Professional Ethics. White may include her opinion on the controls in her report to management.

A.True
B.False

정답:

Question No : 14

The findings in the 2020 Report to the Nations include which of the following?

A.The most commonly reported red flag displayed by fraud perpetrators prior to the detection of their crime is complaints about management.
B.Mote occupational frauds are committed by men than by women
C.The median losses caused by executives are lower than those caused by staff-level employees
D.The majority of fraudsters have been previously punished by an employer for a fraud-related offense

정답:

Question No : 15

Jody has been working at ABC Corp. for ten years. He steals funds from the company and tells himself that the company owes it to him for his "unrewarded hard work and loyalty" This situation BEST illustrates which leg of the Fraud Triangle?

A.Perceived non-shareable financial need
B.Rationalization
C.Perceived opportunity
D.Lack of personal Integrity

정답:

ACFE CFE Fraud Prevention and Deterrence 시험