Fraud Test questions with complete
solutions graded A+
1. Select the answer that is NOT one of the 4 basic sources of where fraud comes from?
A. Government Agencies
B. Researchers
C. Victims of Fraud
D. Reporters - ANS ✔✔D
2. An overall measure of the performance of a company equal to revenues minus expenses for a
period.
A. profit time
B. green period
C. net income
D. Gross Gains - ANS ✔✔C
3. Who is capable of committing Fraud?
A. Executives
B. Administrator
C. Accountants
D. Anyone - ANS ✔✔D
,4. Fraud recruitment is necessary when:
A. You don't want to get caught
B. Acts take more than one perpetrator
C. There is an investigation
D. The company is losing money - ANS ✔✔B
5. After the fall of Enron, this Act was passed to enforce Internal Accounting Controls.
A. Big Companies Act
B. Enforcement Act
C. Sarbanes-Oxley Act
D. Bacon-Seals Act - ANS ✔✔C
6. Which of the four types of evidence includes weapons or stolen property?
A. Testimonial
B. Documentary
C. Physical
D. Personal Observation - ANS ✔✔C
7. __________ Opportunities for fraud to occur include monitoring employees and having a
whistle blower.
A. Eliminating
B. Broad
, C. Great
D. Encourages - ANS ✔✔A
8. Which of the following is an internal control weakness?
A. Lack of Physical Evidence
B. Lack of physical safeguards
C. Lack of motivation
D. Lack of Management - ANS ✔✔B
9. An example of extravagant lifestyle is:
A. Perfect Work Attendance
B. Purchase a Maserati
C. Clips Coupons
D. Blowing the Whistle - ANS ✔✔B
10. Data-Driven fraud detection:
A. Looks for Anomalies in Databases
B. Determines Cost
C. Identifies suspects
D. Protects from all types of fraud - ANS ✔✔A
Who can commit inventory fraud?
A. Customers
solutions graded A+
1. Select the answer that is NOT one of the 4 basic sources of where fraud comes from?
A. Government Agencies
B. Researchers
C. Victims of Fraud
D. Reporters - ANS ✔✔D
2. An overall measure of the performance of a company equal to revenues minus expenses for a
period.
A. profit time
B. green period
C. net income
D. Gross Gains - ANS ✔✔C
3. Who is capable of committing Fraud?
A. Executives
B. Administrator
C. Accountants
D. Anyone - ANS ✔✔D
,4. Fraud recruitment is necessary when:
A. You don't want to get caught
B. Acts take more than one perpetrator
C. There is an investigation
D. The company is losing money - ANS ✔✔B
5. After the fall of Enron, this Act was passed to enforce Internal Accounting Controls.
A. Big Companies Act
B. Enforcement Act
C. Sarbanes-Oxley Act
D. Bacon-Seals Act - ANS ✔✔C
6. Which of the four types of evidence includes weapons or stolen property?
A. Testimonial
B. Documentary
C. Physical
D. Personal Observation - ANS ✔✔C
7. __________ Opportunities for fraud to occur include monitoring employees and having a
whistle blower.
A. Eliminating
B. Broad
, C. Great
D. Encourages - ANS ✔✔A
8. Which of the following is an internal control weakness?
A. Lack of Physical Evidence
B. Lack of physical safeguards
C. Lack of motivation
D. Lack of Management - ANS ✔✔B
9. An example of extravagant lifestyle is:
A. Perfect Work Attendance
B. Purchase a Maserati
C. Clips Coupons
D. Blowing the Whistle - ANS ✔✔B
10. Data-Driven fraud detection:
A. Looks for Anomalies in Databases
B. Determines Cost
C. Identifies suspects
D. Protects from all types of fraud - ANS ✔✔A
Who can commit inventory fraud?
A. Customers