CFCI Study Guide |2024 UPDATE
|ACTUAL EXAM QUESTIONS AND
VERIFIED ANSWERS/ACCURATE
SOLUTIONS |GET IT 100% CORRECT!!
ALREADY GRADED A+
"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." - ✔✔Fraud
Internal Fraud and External Fraud - ✔✔Main types of fraud
which involves the employees of the company against which the fraud is
perpetrated - ✔✔Internal Fraud
deceptive conduct by non-employees that
deprives the organization of value, and/or is undertaken for financial gain. -
✔✔External Fraud
theft or misappropriation of funds placed in one's trust or belonging to one's
employer. - ✔✔embezzlement
"cooking the books." This type of
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©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
,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. - ✔✔financial fraud
Accounts receivable fraud, this
involves simply stealing cash before it enters the organization's accounting
system. - ✔✔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. - ✔✔Billing Schemes
taking advantage of employee access to blank company checks, using a
password to
steal computer-generated checks, or producing counterfeit checks. - ✔✔check
tampering
making false claims for reimbursement, or inflating or creating fictitious
business expenses. (Travel /meal reimbursement. - ✔✔Employee
reimbursement scheme
Bribery, illegal gratuities, and/or extortion. - ✔✔corruption
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©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
, when something of value is offered or given to influence a business decision -
✔✔bribery
when something of value is given to an employee to reward a business decision.
- ✔✔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. - ✔✔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. -
✔✔Kickback Schemes
the creation, sale, or use of a counterfeit credit card, or the use of a stolen
credit or debit card. - ✔✔credit card fraud
Card not present transactions - ✔✔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. - ✔✔identity fraud
the fraudulent acquisition or stealing of confidential personal information. -
✔✔identity theft
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©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
|ACTUAL EXAM QUESTIONS AND
VERIFIED ANSWERS/ACCURATE
SOLUTIONS |GET IT 100% CORRECT!!
ALREADY GRADED A+
"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." - ✔✔Fraud
Internal Fraud and External Fraud - ✔✔Main types of fraud
which involves the employees of the company against which the fraud is
perpetrated - ✔✔Internal Fraud
deceptive conduct by non-employees that
deprives the organization of value, and/or is undertaken for financial gain. -
✔✔External Fraud
theft or misappropriation of funds placed in one's trust or belonging to one's
employer. - ✔✔embezzlement
"cooking the books." This type of
Page 1 of 26
©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
,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. - ✔✔financial fraud
Accounts receivable fraud, this
involves simply stealing cash before it enters the organization's accounting
system. - ✔✔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. - ✔✔Billing Schemes
taking advantage of employee access to blank company checks, using a
password to
steal computer-generated checks, or producing counterfeit checks. - ✔✔check
tampering
making false claims for reimbursement, or inflating or creating fictitious
business expenses. (Travel /meal reimbursement. - ✔✔Employee
reimbursement scheme
Bribery, illegal gratuities, and/or extortion. - ✔✔corruption
Page 2 of 26
©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
, when something of value is offered or given to influence a business decision -
✔✔bribery
when something of value is given to an employee to reward a business decision.
- ✔✔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. - ✔✔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. -
✔✔Kickback Schemes
the creation, sale, or use of a counterfeit credit card, or the use of a stolen
credit or debit card. - ✔✔credit card fraud
Card not present transactions - ✔✔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. - ✔✔identity fraud
the fraudulent acquisition or stealing of confidential personal information. -
✔✔identity theft
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©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
