CFCI Study Guide Exam Questions with Correct Answers 2026 | Complete Firestop Certification Study Guide | Latest CFCI Exam Prep & Practice Test

CFCI STUDY GUIDE EXAM | NEWEST hy hy hy hy hy




ACTUAL EXAM COMPREHENSIVE hy hy




QUESTIONS AND VERIFIED ANSWERS
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Falsifying receipts. - ✔✔✔ Correct Answer > Receipts for
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transportation, hotel, restaurant, and other business travel
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expenses are easily obtained and "recycled" by employees either by
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forgery or by alteration. It is all too easy, for example, to alter the
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date or amount on a receipt before it is submitted. (T&E Fraud).
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Duplicate payments - ✔✔✔ Correct Answer > Duplicate payments
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are issued for legitimate vendors for legitimate invoices. One check
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goes to the vendor and one goes to the fraudster but shows the
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check as voided or canceled.
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Purchasing Card Fraud (P-Card) - ✔✔✔ Correct Answer > Corporate
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card used by legitimate holders who charge non-business expenses
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to the employer and falsely document them as legitimate job-
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related purchases. (pg 64)hy hy hy




Electronic Payee Alteration - ✔✔✔ Correct Answer > Where an
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insider in AP, modifies the Vendor Master File changes the name of
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a legitimate business to a name that is similar enough that it wont
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be
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,noticed. The perpetrator simply changes the information back after
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the execution of the fraud.
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Automated Clearing House (ACH) - ✔✔✔ Correct Answer > An
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electronic network for financial transactions in the U.S. The
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network processes batches of debits and credits to various financial
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institutions allowing for fast, safe and efficient transfer of funds.
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Employee ghosting - ✔✔✔ Correct Answer > Basically time card
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fraud, where employees clock in for other employees or create a
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fictitious employee and collect their pay.
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Claiming expenses just below the minimum documentation
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requirement. - ✔✔✔ Correct Answer > If receipts are required
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for all expenses over $25 for meals, an employee may fraudulently
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submit undocumented claims for amounts of $24.99 or $24.95.
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(T&E Fraud)
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Claiming for "out-of-policy" expenses. - ✔✔✔ Correct Answer >
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A dishonest employee may test your organization's anti-fraud
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controls by submitting a receipt for a personal expense incurred
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during a business trip. If the form is complicated the processor may
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just approve payment (T&E Fraud)
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Forged Check - ✔✔✔ Correct Answer > a check signed by someone
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else other than who is specified on the check without that
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person's permission
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, Theft and Forgery of stolen check - ✔✔✔ Correct Answer >
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An employee stealing blank checks ad making them out to him or
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herself or cash, and forges the name of the authorized person to
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sign checks.
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Check interception and forgery of endorsement - ✔✔✔ Correct
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Answer > Perpetrator steals checks made out to legitimate payee
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and are signed. The perpetrator white outs the payee, alters or
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changes the payee information to themselves or others.
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Check alteration by inserting numbers - ✔✔✔ Correct Answer >
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Changing the amount of the check by changing one or more number.
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Check alteration by inserting letters - ✔✔✔ Correct Answer >
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Changing or washing the check to change the name of the payee by
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adding letters or words.
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Hidden check fraud - ✔✔✔ Correct Answer > A dishonest
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employee puts an unauthorized check in a pile of authorized
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checks, betting on the odds that the signer will not check each
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check and just sign the unauthorized one.
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Check fraud intimiation - ✔✔✔ Correct Answer > A bank
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employee using fear or intimidation on a person responsible for
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issuing the checks
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