FRAUD EXAMINATION CERTIFICATION
EVALUATION EXAMS SET FULL QUESTIONS
AND COMPLETE SOLUTION
●● Which types of businesses are most vulnerable to fraud?
Answer: Small businesses
●● Which types of organizations are most likely to be victims of
occupational fraud?
Answer: Small businesses
●● Once sufficient predication has been established, what is the first
step a fraud examiner following the fraud theory approach should take?
Answer: Analyze data
●● Fraud examination differs from auditing in that fraud examination is:
Answer: adversarial
●● When Jill Michaels, an assistant to the director of procurement,
moved into her new home, she used the company's flat bed truck to
mover her furnishings on an afternoon when her boss was out of town.
Which of the following best describes Michaels' act?
Answer: Abuse
,●● Which of the following best describes the objective of a fraud
examination?
Answer: To determine whether a crime has been committed, and if so,
who is responsible.
●● Predication, although important, is not required in a fraud
examination.
Answer: False
●● Occupational fraud is most commonly initially detected by which of
the following?
Answer: A tip
●● Forensic accounting and fraud examination are interchangeable
terms
Answer: False
●● Which of the following is not one of the legs of the Fraud Triangle?
Answer: Environment
●● Occupational fraud and abuse are the same thing.
Answer: False
,●● Fraudsters are generally
Answer: employed in accounting, upper management, sales, and
operations
●● According to Cressey, the perceived opportunity to commit fraud
consists of two elements: General information and technical skills.
Answer: True
●● White collar crime
Answer: is a term used to define most financial or economic crimes.
●● is a term used to define most financial or economic crimes.
Answer: Effective internal controls
●● Occupational Fraud is best described as which of the following?
Answer: fraud that takes place in the workplace
●● Ponzi schemes are characterized by
Answer: paying "profits" to early investors with money paid by later
investors
●● Fraud examination involves
, Answer: involves the process of resolving allegations of fraud from
inception to disposition.
●● According to Frank Abignale,
Answer: he never received a dime for his work with the FBI
●● Skimming schemes generally leave an audit trail for the trained
investigator to detect.
Answer: False
●● Anne Mullens is the bookkeeper for DWG Refrigeration Repair. One
afternoon while she was preparing the bank deposit, a customer came
into the office and paid his account in full with a $57 check. Rather than
adding the check to the deposit, Anne pocketed $57 cash from the
previously recorded amount and included the customer's check in the
money to be taken to the bank. What type of scheme did Anne commit?
Answer: Skimming
●● Off-book fraud refers to which of the following?
Answer: Fraud with no direct audit trail due to it being committed
outside the accounting sytem
●● Methods of skimming sales include which of the following?
Answer: rigging the cash register so that the sale is not recorded
EVALUATION EXAMS SET FULL QUESTIONS
AND COMPLETE SOLUTION
●● Which types of businesses are most vulnerable to fraud?
Answer: Small businesses
●● Which types of organizations are most likely to be victims of
occupational fraud?
Answer: Small businesses
●● Once sufficient predication has been established, what is the first
step a fraud examiner following the fraud theory approach should take?
Answer: Analyze data
●● Fraud examination differs from auditing in that fraud examination is:
Answer: adversarial
●● When Jill Michaels, an assistant to the director of procurement,
moved into her new home, she used the company's flat bed truck to
mover her furnishings on an afternoon when her boss was out of town.
Which of the following best describes Michaels' act?
Answer: Abuse
,●● Which of the following best describes the objective of a fraud
examination?
Answer: To determine whether a crime has been committed, and if so,
who is responsible.
●● Predication, although important, is not required in a fraud
examination.
Answer: False
●● Occupational fraud is most commonly initially detected by which of
the following?
Answer: A tip
●● Forensic accounting and fraud examination are interchangeable
terms
Answer: False
●● Which of the following is not one of the legs of the Fraud Triangle?
Answer: Environment
●● Occupational fraud and abuse are the same thing.
Answer: False
,●● Fraudsters are generally
Answer: employed in accounting, upper management, sales, and
operations
●● According to Cressey, the perceived opportunity to commit fraud
consists of two elements: General information and technical skills.
Answer: True
●● White collar crime
Answer: is a term used to define most financial or economic crimes.
●● is a term used to define most financial or economic crimes.
Answer: Effective internal controls
●● Occupational Fraud is best described as which of the following?
Answer: fraud that takes place in the workplace
●● Ponzi schemes are characterized by
Answer: paying "profits" to early investors with money paid by later
investors
●● Fraud examination involves
, Answer: involves the process of resolving allegations of fraud from
inception to disposition.
●● According to Frank Abignale,
Answer: he never received a dime for his work with the FBI
●● Skimming schemes generally leave an audit trail for the trained
investigator to detect.
Answer: False
●● Anne Mullens is the bookkeeper for DWG Refrigeration Repair. One
afternoon while she was preparing the bank deposit, a customer came
into the office and paid his account in full with a $57 check. Rather than
adding the check to the deposit, Anne pocketed $57 cash from the
previously recorded amount and included the customer's check in the
money to be taken to the bank. What type of scheme did Anne commit?
Answer: Skimming
●● Off-book fraud refers to which of the following?
Answer: Fraud with no direct audit trail due to it being committed
outside the accounting sytem
●● Methods of skimming sales include which of the following?
Answer: rigging the cash register so that the sale is not recorded