CFCI STUDY GUIDE RECENT UPDATE EXAM
Complete Questions and Guide Answers
100% Verified Graded A+
1. "Any illegal acts characterized by deceit, concealment, or violation of trust. These
acts are not dependent upon the perpetrated by individuals and orga- nizations to
obtain money, property, or services; to avoid payment or loss of services; or to secure
personal or business ad-vantage."
Answer: Fraud
2. Internal Fraud and External Fraud
Answer: Maintypesoffraud
3. which involves the employees of the company against which the fraud is
perpetrated
Answer: Internal Fraud
4. deceptive conduct by non-employees that
deprives the organization of value, and/or is undertaken for financial gain.
Answer: Ex- ternal Fraud
,5. theft or misappropriation of funds placed in one's trust or belonging to one's
employer.
Answer: embezzlement
6. "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.
Answer: financial fraud
7. Accounts receivable fraud, this
involves simply stealing cash before it enters the organization's accounting system.
Answer: Skimming (cash larceny)
8. 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.
Answer: Billing Schemes
9. taking advantage of employee access to blank company checks, using a
,password to
steal computer-generated checks, or producing counterfeit checks.
Answer: check tamper- ing
10. making false claims for reimbursement, or inflating or creating fictitious
business expenses. (Travel /meal reimbursement.
Answer: Employee reimbursement scheme
11. Bribery, illegal gratuities, and/or extortion.
Answer: corruption
12. when something of value is offered or given to influence a business decision-
Answer: bribery
13. when something of value is given to an employee to reward a business decision.
Answer: Illegal Gratuities
14. when a person demands payment or seeks to influence a business decision by threat
of harm through loss of business or personal injury.
Answer: Extortion
15. involving employees and vendors, often using inflated billing or invoices for which
, the employee is paid a portion of the inflated or fictitious invoice.
Answer: Kickback Schemes
16. the creation, sale, or use of a counterfeit credit card, or the use of a stolen credit or
debit card.
Answer: creditcardfraud
17. Card not present transactions
Answer: C.N.P
18. 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.
Answer: identity fraud
19. the fraudulent acquisition or stealing of confidential personal information.-
Answer: identity theft
20. Theft (stealing money, ID, or assests) and deception (cooking the books, lying to
shareholders, employees or partners)
Answer: 2 categories that encompass Fraud
Complete Questions and Guide Answers
100% Verified Graded A+
1. "Any illegal acts characterized by deceit, concealment, or violation of trust. These
acts are not dependent upon the perpetrated by individuals and orga- nizations to
obtain money, property, or services; to avoid payment or loss of services; or to secure
personal or business ad-vantage."
Answer: Fraud
2. Internal Fraud and External Fraud
Answer: Maintypesoffraud
3. which involves the employees of the company against which the fraud is
perpetrated
Answer: Internal Fraud
4. deceptive conduct by non-employees that
deprives the organization of value, and/or is undertaken for financial gain.
Answer: Ex- ternal Fraud
,5. theft or misappropriation of funds placed in one's trust or belonging to one's
employer.
Answer: embezzlement
6. "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.
Answer: financial fraud
7. Accounts receivable fraud, this
involves simply stealing cash before it enters the organization's accounting system.
Answer: Skimming (cash larceny)
8. 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.
Answer: Billing Schemes
9. taking advantage of employee access to blank company checks, using a
,password to
steal computer-generated checks, or producing counterfeit checks.
Answer: check tamper- ing
10. making false claims for reimbursement, or inflating or creating fictitious
business expenses. (Travel /meal reimbursement.
Answer: Employee reimbursement scheme
11. Bribery, illegal gratuities, and/or extortion.
Answer: corruption
12. when something of value is offered or given to influence a business decision-
Answer: bribery
13. when something of value is given to an employee to reward a business decision.
Answer: Illegal Gratuities
14. when a person demands payment or seeks to influence a business decision by threat
of harm through loss of business or personal injury.
Answer: Extortion
15. involving employees and vendors, often using inflated billing or invoices for which
, the employee is paid a portion of the inflated or fictitious invoice.
Answer: Kickback Schemes
16. the creation, sale, or use of a counterfeit credit card, or the use of a stolen credit or
debit card.
Answer: creditcardfraud
17. Card not present transactions
Answer: C.N.P
18. 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.
Answer: identity fraud
19. the fraudulent acquisition or stealing of confidential personal information.-
Answer: identity theft
20. Theft (stealing money, ID, or assests) and deception (cooking the books, lying to
shareholders, employees or partners)
Answer: 2 categories that encompass Fraud
