CFCI STUDY GUIDE |2026 UPDATE |ACTUAL EXAM
QUESTIONS AND VERIFIED ANSWERS/ACCURATE
SOLUTIONS |GET IT 100% CORRECT!! ALREADY GRADED
A+ | FROM QUESTION TO PERFECTION| STUDY WITH
CONFIDENCE!
Course Code:
Course Title:
Programme:
Academic Year: 2026/2027.
Duration: 2 Hours.
Total Marks: 70%.
Candidate Instructions:
1) Write your Registration Number on every answer booklet used.
2) Answer ALL questions in Section A and ANY TWO (2) questions in Section B.
3) Read each question carefully before answering.
4) Begin each question on a new page.
5) The marks for each question are indicated in brackets.
6) This paper consists of several printed pages, including this page.
7) Ensure your copy is complete before the examination begins.
8) Unauthorized materials and communication with other candidates are not permitted.
Turn Over.
APPHIA – Crafted with Care and Precision for Academic Excellence.
1
, "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."
Answer: Fraud
Internal Fraud and External Fraud Answer: Main types of fraud
which involves the employees of the company against which the fraud is perpetrated Answer:
Internal Fraud
deceptive conduct by non-employees that
deprives the organization of value, and/or is undertaken for financial gain. Answer: External
Fraud
theft or misappropriation of funds placed in one's trust or belonging to one's employer. Answer:
embezzlement
"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
Accounts receivable fraud, this
involves simply stealing cash before it enters the organization's accounting system. Answer:
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. Answer: Billing Schemes
taking advantage of employee access to blank company checks, using a password to
steal computer-generated checks, or producing counterfeit checks. Answer: check tampering
making false claims for reimbursement, or inflating or creating fictitious business expenses.
(Travel /meal reimbursement. Answer: Employee reimbursement scheme
Bribery, illegal gratuities, and/or extortion. Answer: corruption
when something of value is offered or given to influence a business decision Answer: bribery
when something of value is given to an employee to reward a business decision. Answer: 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. Answer: Extortion
APPHIA – Crafted with Care and Precision for Academic Excellence.
2
QUESTIONS AND VERIFIED ANSWERS/ACCURATE
SOLUTIONS |GET IT 100% CORRECT!! ALREADY GRADED
A+ | FROM QUESTION TO PERFECTION| STUDY WITH
CONFIDENCE!
Course Code:
Course Title:
Programme:
Academic Year: 2026/2027.
Duration: 2 Hours.
Total Marks: 70%.
Candidate Instructions:
1) Write your Registration Number on every answer booklet used.
2) Answer ALL questions in Section A and ANY TWO (2) questions in Section B.
3) Read each question carefully before answering.
4) Begin each question on a new page.
5) The marks for each question are indicated in brackets.
6) This paper consists of several printed pages, including this page.
7) Ensure your copy is complete before the examination begins.
8) Unauthorized materials and communication with other candidates are not permitted.
Turn Over.
APPHIA – Crafted with Care and Precision for Academic Excellence.
1
, "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."
Answer: Fraud
Internal Fraud and External Fraud Answer: Main types of fraud
which involves the employees of the company against which the fraud is perpetrated Answer:
Internal Fraud
deceptive conduct by non-employees that
deprives the organization of value, and/or is undertaken for financial gain. Answer: External
Fraud
theft or misappropriation of funds placed in one's trust or belonging to one's employer. Answer:
embezzlement
"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
Accounts receivable fraud, this
involves simply stealing cash before it enters the organization's accounting system. Answer:
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. Answer: Billing Schemes
taking advantage of employee access to blank company checks, using a password to
steal computer-generated checks, or producing counterfeit checks. Answer: check tampering
making false claims for reimbursement, or inflating or creating fictitious business expenses.
(Travel /meal reimbursement. Answer: Employee reimbursement scheme
Bribery, illegal gratuities, and/or extortion. Answer: corruption
when something of value is offered or given to influence a business decision Answer: bribery
when something of value is given to an employee to reward a business decision. Answer: 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. Answer: Extortion
APPHIA – Crafted with Care and Precision for Academic Excellence.
2
