Certified Fraud Examiner CFE Set 1 From
ACFE With Correct Solutions 2024
According mto mThe mInstitute mof mInternal mAuditors' mInternational mStandards mfor mthe
mProfessional mPractice mof mInternal mAuditing, mdue mprofessional mcare mimplies minfallibility.
m A. mTrue m
m B. mFalse m- mcorrect manswer.False
Which mof mthe mfollowing mis mTRUE mregarding morganizational mstructure?
mA. mCompanies mwith mdepartments mthat mare misolated mgeographically mhave ma mreduced
mrisk mof mfraud m
mB. mThe mexistence mof mmany mspecialized mdepartments mwithin ma mcompany mgenerally
mincreases mthe moverall mrisk mof mfraud mwithin mthe morganization
mC. mMisbehavior mis mmore mlikely mto mbe mdetected min ma mcomplex morganizational mstructure
mthan min ma msimple morganizational mstructure m
mD. mAll mof mthe mabove m- mcorrect manswer.The mexistence mof mmany mspecialized
mdepartments mwithin ma mcompany mgenerally mincreases mthe moverall mrisk m of mfraud mwithin
mthe morganization
Detective manti-fraud mcontrols minclude mall mof mthe mfollowing mEXCEPT:
A. mHotline m
mB. mProactive mdata manalysis mtechniques
mC. mPhysical minspections m
mD. mHiring mpolicies mand mprocedures m- mcorrect manswer.Hiring mpolicies mand mprocedures
According mto mAU mSection m240, mthe mauditor's massessment mof mthe mrisk mof mmaterial
mmisstatement mdue mto mfraud mat mthe mfinancial mstatement mlevel mshould mhave man meffect
mon mwhich mof mthe mfollowing maspect(s) mof man maudit?
mA. mConsideration mof maccounting mprinciples mused
mB. mAssignment mand msupervision mof mpersonnel m
mC. mChoice mof mauditing mprocedures m
mD. mAll mof mthe mabove m- mcorrect manswer.All mthe mabove
, The mrisk mof mthe mauditor mnot mdetecting ma mmaterial mmisstatement mresulting mfrom
memployee mfraud mis mgreater mthan mthe mrisk mof mthe mauditor mnot mdetecting ma mmaterial
mmisstatement mresulting mfrom mmanagement mfraud.
mA. mTrue
mB. mFalse m- mcorrect manswer.False
The mrisk mof man mauditor mnot mdetecting ma mmaterial mmisstatement mresulting mfrom mfraud mis
mhigher mthan mthe mrisk mof man mauditor mnot mdetecting ma mmaterial mmisstatement mresulting
mfrom mthe merror.
mA. mTrue
mB. mFalse m- mcorrect manswer.True
Which mof mthe mfollowing mis/are mincluded min mthe mfive mfraud mrisk mmanagement mprinciples
mdescribed min mthe mCOSO/ACFE mFraud mRisk mManagement mGuide?
A. mCommunicating mthe mexpectations mof mthose mgoverning mthe mfraud mrisk mmanagement
mprogram m
mB. mDeveloping mongoing mevaluations mfor meach mfraud mrisk mmanagement mprinciple m
mC. mPerforming mcomprehensive mfraud mrisk massessments mto midentify mspecific mfraud
mschemes
mD. mAll mof mthe mabove m- mcorrect manswer.All mof mthe mabove
Which mof mthe mfollowing mis mTRUE mregarding mfraud mrisks?
mA. mThe mobjective mof manti-fraud mcontrols mis mto mmake mthe minherent mfraud mrisk
msignificantly msmaller mthan mthe mresidual mfraud mrisk. m
mB. mThe mobjective mof manti-fraud mcontrols mis mto mmake mthe mresidual mfraud mrisk
msignificantly msmaller mthan mthe minherent mfraud mrisk
mC. mRisks mthat mare mpresent mbefore mthe meffect mof minternal mcontrols mare mdescribed mas
mresidual mrisks. m
mD. mThe mobjective mof manti-fraud mcontrols mis mto mcompletely meliminate mresidual mfraud
mrisks. m- mcorrect manswer.The mobjective mof manti-fraud mcontrols mis mto mmake mthe mresidual
mfraud mrisk msignificantly msmaller mthan mthe minherent mfraud mrisk
As ma mstrategy mto mcontrol mcrime, m_________ mis mdesigned mto machieve mconformity mto mthe
mlaw mby mproviding meconomic mincentives mfor mvoluntary madherence mto mthe mlaw mand musing
madministrative mefforts mto mcontrol mviolations mbefore mthey moccur.
A. mPrevention m
mB. mDeterrence m
mC. mCompliance
mD. mNone mof mthe mabove m- mcorrect manswer.Compliance
In mthe marea mof mcriminological mtheory, m____________ mis mthe mtheory mthat mtries mto
mprevent mcrime mby musing mthe mthreat mof mcriminal msanctions.
ACFE With Correct Solutions 2024
According mto mThe mInstitute mof mInternal mAuditors' mInternational mStandards mfor mthe
mProfessional mPractice mof mInternal mAuditing, mdue mprofessional mcare mimplies minfallibility.
m A. mTrue m
m B. mFalse m- mcorrect manswer.False
Which mof mthe mfollowing mis mTRUE mregarding morganizational mstructure?
mA. mCompanies mwith mdepartments mthat mare misolated mgeographically mhave ma mreduced
mrisk mof mfraud m
mB. mThe mexistence mof mmany mspecialized mdepartments mwithin ma mcompany mgenerally
mincreases mthe moverall mrisk mof mfraud mwithin mthe morganization
mC. mMisbehavior mis mmore mlikely mto mbe mdetected min ma mcomplex morganizational mstructure
mthan min ma msimple morganizational mstructure m
mD. mAll mof mthe mabove m- mcorrect manswer.The mexistence mof mmany mspecialized
mdepartments mwithin ma mcompany mgenerally mincreases mthe moverall mrisk m of mfraud mwithin
mthe morganization
Detective manti-fraud mcontrols minclude mall mof mthe mfollowing mEXCEPT:
A. mHotline m
mB. mProactive mdata manalysis mtechniques
mC. mPhysical minspections m
mD. mHiring mpolicies mand mprocedures m- mcorrect manswer.Hiring mpolicies mand mprocedures
According mto mAU mSection m240, mthe mauditor's massessment mof mthe mrisk mof mmaterial
mmisstatement mdue mto mfraud mat mthe mfinancial mstatement mlevel mshould mhave man meffect
mon mwhich mof mthe mfollowing maspect(s) mof man maudit?
mA. mConsideration mof maccounting mprinciples mused
mB. mAssignment mand msupervision mof mpersonnel m
mC. mChoice mof mauditing mprocedures m
mD. mAll mof mthe mabove m- mcorrect manswer.All mthe mabove
, The mrisk mof mthe mauditor mnot mdetecting ma mmaterial mmisstatement mresulting mfrom
memployee mfraud mis mgreater mthan mthe mrisk mof mthe mauditor mnot mdetecting ma mmaterial
mmisstatement mresulting mfrom mmanagement mfraud.
mA. mTrue
mB. mFalse m- mcorrect manswer.False
The mrisk mof man mauditor mnot mdetecting ma mmaterial mmisstatement mresulting mfrom mfraud mis
mhigher mthan mthe mrisk mof man mauditor mnot mdetecting ma mmaterial mmisstatement mresulting
mfrom mthe merror.
mA. mTrue
mB. mFalse m- mcorrect manswer.True
Which mof mthe mfollowing mis/are mincluded min mthe mfive mfraud mrisk mmanagement mprinciples
mdescribed min mthe mCOSO/ACFE mFraud mRisk mManagement mGuide?
A. mCommunicating mthe mexpectations mof mthose mgoverning mthe mfraud mrisk mmanagement
mprogram m
mB. mDeveloping mongoing mevaluations mfor meach mfraud mrisk mmanagement mprinciple m
mC. mPerforming mcomprehensive mfraud mrisk massessments mto midentify mspecific mfraud
mschemes
mD. mAll mof mthe mabove m- mcorrect manswer.All mof mthe mabove
Which mof mthe mfollowing mis mTRUE mregarding mfraud mrisks?
mA. mThe mobjective mof manti-fraud mcontrols mis mto mmake mthe minherent mfraud mrisk
msignificantly msmaller mthan mthe mresidual mfraud mrisk. m
mB. mThe mobjective mof manti-fraud mcontrols mis mto mmake mthe mresidual mfraud mrisk
msignificantly msmaller mthan mthe minherent mfraud mrisk
mC. mRisks mthat mare mpresent mbefore mthe meffect mof minternal mcontrols mare mdescribed mas
mresidual mrisks. m
mD. mThe mobjective mof manti-fraud mcontrols mis mto mcompletely meliminate mresidual mfraud
mrisks. m- mcorrect manswer.The mobjective mof manti-fraud mcontrols mis mto mmake mthe mresidual
mfraud mrisk msignificantly msmaller mthan mthe minherent mfraud mrisk
As ma mstrategy mto mcontrol mcrime, m_________ mis mdesigned mto machieve mconformity mto mthe
mlaw mby mproviding meconomic mincentives mfor mvoluntary madherence mto mthe mlaw mand musing
madministrative mefforts mto mcontrol mviolations mbefore mthey moccur.
A. mPrevention m
mB. mDeterrence m
mC. mCompliance
mD. mNone mof mthe mabove m- mcorrect manswer.Compliance
In mthe marea mof mcriminological mtheory, m____________ mis mthe mtheory mthat mtries mto
mprevent mcrime mby musing mthe mthreat mof mcriminal msanctions.
