Graphic Design Study Guide Types
Principles & Professional Responsibilities
ODS EXAM STUDY GUIDE 2026/2027
COMPLETE QUESTIONS WITH VERIFIED
CORRECT ANSWERS ||
100% GUARANTEED PASS
<NEWEST VERSION>
Which of the following statements is true regarding the disclosure of confidential
client information? - ANSWER✓A fraud examiner can reveal confidential client
information when responding to a legal court order.
Craig and Donna each own 40 percent of the shares of Indiewealth and serve on
its board of directors. George is also a shareholder, but he is not a member of the
board of directors. Donna dies, and her son, Steven, inherits her shares of
Indiewealth and replaces her on the board. Steven, however, is inattentive to
Indiewealth's corporate affairs. During this time, Craig diverts corporate funds for
personal use, and consequently, Indiewealth becomes insolvent. If George decides
to sue Steven for violating his fiduciary duties, under what theory is he likely to
file the suit? - ANSWER✓Violating the duty of care.
As per ACFE Standards of Professional Conduct, the principle of ________
require a member not to commit discreditable acts and to always conduct
themselves in the best interests of the profession. - ANSWER✓integrity and
objectivity
, In the context of a fraud examination, a mindset of professional skepticism means:
- ANSWER✓a.
The fraud examiner's professional skepticism can be dispelled only by evidence.
b.
Fraud examiners should always begin their assignments with the belief that
something is amiss.
c.
All of these answers are correct.
d.
Fraud examiners should relax their attitude of skepticism only when the evidence
shows no signs of fraud.
In considering general ethics, a person's primary goal is to arrive at a set of
acceptable methods for making ethical decisions to fulfill all his roles. -
ANSWER✓True
Bryan, a CFE, locks the door to the interview room and refuses to allow the
suspect to leave despite repeated requests. Later, the suspect sues (successfully),
claiming that he was falsely imprisoned. Which of the following statements is true?
- ANSWER✓This conduct would be a violation of the ACFE Code of Professional
Ethics.
Which of the following statements is true of characteristics of a profession? -
ANSWER✓It is organized into associations and there are specific requirements for
admission into such associations and maintenance of membership.
Lee, a Certified Fraud Examiner, was hired to investigate a company. After he
carefully examined the company, he issued a report that stated, in part, "... in my
,opinion, this operation is free of material fraud." Such an opinion is permitted
under the ACFE Code of Professional Ethics. - ANSWER✓False
To be considered a profession, a field such as fraud examination must have a body
of knowledge unique to itself. - ANSWER✓False
The duty of loyalty means that people in a fiduciary relationship must act with
such care as an ordinarily prudent person would employ in similar positions. -
ANSWER✓False
Leo, a Certified Fraud Examiner, conducted a fraud examination at Blue Corp.
Anna was a prime suspect in the disappearance of money, but Leo could not prove
it. Later, Leo discovered Anna had been recently hired by Red Corp., another client
of his. Under the ACFE Code of Professional Ethics, Leo must: - ANSWER✓Not
inform Red Corp.
To be in compliance with the ACFE Code of Professional Ethics, fraud examiners
must have an expert level of skill and knowledge for every circumstance that might
be encountered in a fraud examination. - ANSWER✓False
During a fraud examination, John, a CFE, becomes aware of a situation that might
appear to others as though he has a conflict of interest, even though there is no
actual conflict. To address the situation, John's best course of action is to: -
ANSWER✓Immediately disclose the situation to company management.
In general, the lowest level of reference for making moral decisions is: -
ANSWER✓The Law
, Which of the following is an example of a violation of the ACFE Code of
Professional Ethics' requirement for diligent, professional behavior? -
ANSWER✓Skipping vital investigation steps to improve the efficiency of a fraud
examination.
A professional association enjoys a high level of public trust and confidence even
though it can never be legalized. - ANSWER✓False
During an admission-seeking interview of a fraud suspect, Gary, a Certified Fraud
Examiner, accuses the suspect of having committed a fraud. Gary's accusation
violates the ACFE Code of Professional Ethics. - ANSWER✓False
In the context of fraud examination, integrity requires: - ANSWER✓a.
An ability to analyze situations where no professional rules are specifically
applicable and determine right from wrong.
b.
All of these answers are correct.
c.
Independence of mental attitude and avoidance of conflicts of interest.
d.
Subordination of desires for personal gain to the interests of clients, employers,
and the public.
The function of ethical principles is to provide individuals with a straightforward
means to determine the answer to any problem they face. - ANSWER✓False
The ACFE Code of Professional Ethics contains sections covering which of the
following? - ANSWER✓a.
Principles & Professional Responsibilities
ODS EXAM STUDY GUIDE 2026/2027
COMPLETE QUESTIONS WITH VERIFIED
CORRECT ANSWERS ||
100% GUARANTEED PASS
<NEWEST VERSION>
Which of the following statements is true regarding the disclosure of confidential
client information? - ANSWER✓A fraud examiner can reveal confidential client
information when responding to a legal court order.
Craig and Donna each own 40 percent of the shares of Indiewealth and serve on
its board of directors. George is also a shareholder, but he is not a member of the
board of directors. Donna dies, and her son, Steven, inherits her shares of
Indiewealth and replaces her on the board. Steven, however, is inattentive to
Indiewealth's corporate affairs. During this time, Craig diverts corporate funds for
personal use, and consequently, Indiewealth becomes insolvent. If George decides
to sue Steven for violating his fiduciary duties, under what theory is he likely to
file the suit? - ANSWER✓Violating the duty of care.
As per ACFE Standards of Professional Conduct, the principle of ________
require a member not to commit discreditable acts and to always conduct
themselves in the best interests of the profession. - ANSWER✓integrity and
objectivity
, In the context of a fraud examination, a mindset of professional skepticism means:
- ANSWER✓a.
The fraud examiner's professional skepticism can be dispelled only by evidence.
b.
Fraud examiners should always begin their assignments with the belief that
something is amiss.
c.
All of these answers are correct.
d.
Fraud examiners should relax their attitude of skepticism only when the evidence
shows no signs of fraud.
In considering general ethics, a person's primary goal is to arrive at a set of
acceptable methods for making ethical decisions to fulfill all his roles. -
ANSWER✓True
Bryan, a CFE, locks the door to the interview room and refuses to allow the
suspect to leave despite repeated requests. Later, the suspect sues (successfully),
claiming that he was falsely imprisoned. Which of the following statements is true?
- ANSWER✓This conduct would be a violation of the ACFE Code of Professional
Ethics.
Which of the following statements is true of characteristics of a profession? -
ANSWER✓It is organized into associations and there are specific requirements for
admission into such associations and maintenance of membership.
Lee, a Certified Fraud Examiner, was hired to investigate a company. After he
carefully examined the company, he issued a report that stated, in part, "... in my
,opinion, this operation is free of material fraud." Such an opinion is permitted
under the ACFE Code of Professional Ethics. - ANSWER✓False
To be considered a profession, a field such as fraud examination must have a body
of knowledge unique to itself. - ANSWER✓False
The duty of loyalty means that people in a fiduciary relationship must act with
such care as an ordinarily prudent person would employ in similar positions. -
ANSWER✓False
Leo, a Certified Fraud Examiner, conducted a fraud examination at Blue Corp.
Anna was a prime suspect in the disappearance of money, but Leo could not prove
it. Later, Leo discovered Anna had been recently hired by Red Corp., another client
of his. Under the ACFE Code of Professional Ethics, Leo must: - ANSWER✓Not
inform Red Corp.
To be in compliance with the ACFE Code of Professional Ethics, fraud examiners
must have an expert level of skill and knowledge for every circumstance that might
be encountered in a fraud examination. - ANSWER✓False
During a fraud examination, John, a CFE, becomes aware of a situation that might
appear to others as though he has a conflict of interest, even though there is no
actual conflict. To address the situation, John's best course of action is to: -
ANSWER✓Immediately disclose the situation to company management.
In general, the lowest level of reference for making moral decisions is: -
ANSWER✓The Law
, Which of the following is an example of a violation of the ACFE Code of
Professional Ethics' requirement for diligent, professional behavior? -
ANSWER✓Skipping vital investigation steps to improve the efficiency of a fraud
examination.
A professional association enjoys a high level of public trust and confidence even
though it can never be legalized. - ANSWER✓False
During an admission-seeking interview of a fraud suspect, Gary, a Certified Fraud
Examiner, accuses the suspect of having committed a fraud. Gary's accusation
violates the ACFE Code of Professional Ethics. - ANSWER✓False
In the context of fraud examination, integrity requires: - ANSWER✓a.
An ability to analyze situations where no professional rules are specifically
applicable and determine right from wrong.
b.
All of these answers are correct.
c.
Independence of mental attitude and avoidance of conflicts of interest.
d.
Subordination of desires for personal gain to the interests of clients, employers,
and the public.
The function of ethical principles is to provide individuals with a straightforward
means to determine the answer to any problem they face. - ANSWER✓False
The ACFE Code of Professional Ethics contains sections covering which of the
following? - ANSWER✓a.
