Wgu D551 C254 Fraud And Forensic Accounting Updated Exam Questions And Correct Answers

WGU D551 C254 FRAUD AND FORENSIC
ACCOUNTING UPDATED EXAM
QUESTIONS AND CORRECT ANSWERS

●● Data-driven fraud detection:


a) determines the cost of fraud
b) identifies possible fraud suspects
c) looks for anomalies in databases
d) all of the above
Answer: c.looks for anomalies in databases


●● once a buyer starts accepting kickbacks from a supplier:


a. prices often increase
b. purchases from other vendors often decreae
c. the supplier usually takes control of the purchasing relationship
d. all of the above
Answer: d. all the above


●● The most obvious disadvantage of the data-driven approach is:

, a. databases are very large and often cannot be analyzed using analysis
packages like ACL, IDEA, or ActiveData
b. high cost
c. the decrease in employee morale
d. none of the above
Answer: b.high cost


●● Benford's law


a. is usually unsuccessful as a fraud detection tool
b. predicts that the first digit of random number sets will begin with a 1
more often than a 2, a 2 more often than a 3, and so on
c. applies to personal ID numbers
d. all of the above
Answer: b.predicts that the first digit of random number sets will begin
with a 1 more often than a 2, and a 2 more often than a 3 and so on


●● a detection method that focuses on the kinds of frauds that can occur
and then uses technology to determine whether those frauds actually
exist is called:


a. fishing fraud detection