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CFCI EXAM 2026 QUESTIONS AND
ANSWERS.
"Any illegal acts characterized by deceit, concealment, or violation
| | | | | | | |
of trust. These acts are not dependent upon the perpetrated by
| | | | | | | | | | |
individuals and organizations to obtain money, property, or
| | | | | | | |
services; to avoid payment or loss of services; or to secure personal
| | | | | | | | | | | |
or business ad-vantage." - correct answer - Fraud
| | | | | | | |
Internal Fraud and External Fraud - correct answer - Main types of
| | | | | | | | | | |
fraud
|
which involves the employees of the company against which the
| | | | | | | | |
fraud is perpetrated - correct answer - Internal Fraud
| | | | | | | | |
deceptive conduct by non-employees that | | | |
deprives the organization of value, and/or is undertaken for financial
| | | | | | | | |
gain. - correct answer - External Fraud
| | | | | | |
theft or misappropriation of funds placed in one's trust or belonging
| | | | | | | | | |
to one's employer. - correct answer - embezzlement
| | | | | | | |
, Page |2 | |
"cooking the books." This type of | | | | |
fraud generally refers to falsely representing the financial condition
| | | | | | | |
of the company, so as to inflate the value of stock, fraudulently boost
| | | | | | | | | | | | |
executive bonuses, or otherwise mislead shareholders, lenders,
| | | | | | |
employees, investment analysts, or other users of the information. -
| | | | | | | | | |
correct answer - financial fraud
| | | | |
Accounts receivable fraud, this | | |
involves simply stealing cash before it enters the organization's
| | | | | | | |
accounting system. - correct answer - Skimming (cash larceny)
| | | | | | | | |
Perpetrated by employees who cause their employer to issue a| | | | | | | | |
payment to a false supplier by submitting invoices for fictitious
| | | | | | | | | |
goods or services, inflated invoices, or invoices for personal
| | | | | | | | |
purchases. - correct answer - Billing Schemes
| | | | | | |
taking advantage of employee access to blank company checks,
| | | | | | | |
using a password to
| | | |
steal computer-generated checks, or producing counterfeit checks.
| | | | | |
- correct answer - check tampering
| | | | | |
, Page |3 | |
making false claims for reimbursement, or inflating or creating
| | | | | | | |
fictitious business expenses. (Travel /meal reimbursement. -
| | | | | | |
correct answer - Employee reimbursement scheme
| | | | | |
Bribery, illegal gratuities, and/or extortion. - correct answer -
| | | | | | | |
corruption
|
when something of value is offered or given to influence a business
| | | | | | | | | | |
decision - correct answer - bribery
| | | | | |
when something of value is given to an employee to reward a
| | | | | | | | | | |
business decision. - correct answer - Illegal Gratuities
| | | | | | | |
when a person demands payment or seeks to influence a business
| | | | | | | | | |
decision by threat of harm through loss of business or personal
| | | | | | | | | | |
injury. - correct answer - Extortion
| | | | | |
involving employees and vendors, often using inflated billing or
| | | | | | | |
invoices for which the employee is paid a portion of the inflated or
| | | | | | | | | | | | |
fictitious invoice. - correct answer - Kickback Schemes
| | | | | | | |
, Page |4 | |
the creation, sale, or use of a counterfeit credit card, or the use of a
| | | | | | | | | | | | | |
stolen credit or debit card. - correct answer - credit card fraud
| | | | | | | | | | | |
Card not present transactions - correct answer - C.N.P
| | | | | | | |
involves the unauthorized use of another person's personal data for
| | | | | | | | |
illegal financial benefit. Involves abusing the stolen information to
| | | | | | | | |
transact personal business in the victim's name. - correct answer -
| | | | | | | | | | |
identity fraud
| |
the fraudulent acquisition or stealing of confidential personal
| | | | | | |
information. - correct answer - identity theft
| | | | | | |
Theft (stealing money, ID, or assests) and deception (cooking the
| | | | | | | | |
books, lying to shareholders, employees or partners) - correct
| | | | | | | | |
answer - 2 categories that encompass Fraud
| | | | | | |
CFCI EXAM 2026 QUESTIONS AND
ANSWERS.
"Any illegal acts characterized by deceit, concealment, or violation
| | | | | | | |
of trust. These acts are not dependent upon the perpetrated by
| | | | | | | | | | |
individuals and organizations to obtain money, property, or
| | | | | | | |
services; to avoid payment or loss of services; or to secure personal
| | | | | | | | | | | |
or business ad-vantage." - correct answer - Fraud
| | | | | | | |
Internal Fraud and External Fraud - correct answer - Main types of
| | | | | | | | | | |
fraud
|
which involves the employees of the company against which the
| | | | | | | | |
fraud is perpetrated - correct answer - Internal Fraud
| | | | | | | | |
deceptive conduct by non-employees that | | | |
deprives the organization of value, and/or is undertaken for financial
| | | | | | | | |
gain. - correct answer - External Fraud
| | | | | | |
theft or misappropriation of funds placed in one's trust or belonging
| | | | | | | | | |
to one's employer. - correct answer - embezzlement
| | | | | | | |
, Page |2 | |
"cooking the books." This type of | | | | |
fraud generally refers to falsely representing the financial condition
| | | | | | | |
of the company, so as to inflate the value of stock, fraudulently boost
| | | | | | | | | | | | |
executive bonuses, or otherwise mislead shareholders, lenders,
| | | | | | |
employees, investment analysts, or other users of the information. -
| | | | | | | | | |
correct answer - financial fraud
| | | | |
Accounts receivable fraud, this | | |
involves simply stealing cash before it enters the organization's
| | | | | | | |
accounting system. - correct answer - Skimming (cash larceny)
| | | | | | | | |
Perpetrated by employees who cause their employer to issue a| | | | | | | | |
payment to a false supplier by submitting invoices for fictitious
| | | | | | | | | |
goods or services, inflated invoices, or invoices for personal
| | | | | | | | |
purchases. - correct answer - Billing Schemes
| | | | | | |
taking advantage of employee access to blank company checks,
| | | | | | | |
using a password to
| | | |
steal computer-generated checks, or producing counterfeit checks.
| | | | | |
- correct answer - check tampering
| | | | | |
, Page |3 | |
making false claims for reimbursement, or inflating or creating
| | | | | | | |
fictitious business expenses. (Travel /meal reimbursement. -
| | | | | | |
correct answer - Employee reimbursement scheme
| | | | | |
Bribery, illegal gratuities, and/or extortion. - correct answer -
| | | | | | | |
corruption
|
when something of value is offered or given to influence a business
| | | | | | | | | | |
decision - correct answer - bribery
| | | | | |
when something of value is given to an employee to reward a
| | | | | | | | | | |
business decision. - correct answer - Illegal Gratuities
| | | | | | | |
when a person demands payment or seeks to influence a business
| | | | | | | | | |
decision by threat of harm through loss of business or personal
| | | | | | | | | | |
injury. - correct answer - Extortion
| | | | | |
involving employees and vendors, often using inflated billing or
| | | | | | | |
invoices for which the employee is paid a portion of the inflated or
| | | | | | | | | | | | |
fictitious invoice. - correct answer - Kickback Schemes
| | | | | | | |
, Page |4 | |
the creation, sale, or use of a counterfeit credit card, or the use of a
| | | | | | | | | | | | | |
stolen credit or debit card. - correct answer - credit card fraud
| | | | | | | | | | | |
Card not present transactions - correct answer - C.N.P
| | | | | | | |
involves the unauthorized use of another person's personal data for
| | | | | | | | |
illegal financial benefit. Involves abusing the stolen information to
| | | | | | | | |
transact personal business in the victim's name. - correct answer -
| | | | | | | | | | |
identity fraud
| |
the fraudulent acquisition or stealing of confidential personal
| | | | | | |
information. - correct answer - identity theft
| | | | | | |
Theft (stealing money, ID, or assests) and deception (cooking the
| | | | | | | | |
books, lying to shareholders, employees or partners) - correct
| | | | | | | | |
answer - 2 categories that encompass Fraud
| | | | | | |
