Forensic Accounting Exam 1 Updated
Actual Questions and CORRECT Answers
Which of the following is NOT an esential element of fraud? - CORRECT
ANSWER evidence that the statement was false
Select from the following situations the one that should NOT be defined as abuse: -
CORRECT ANSWER a human resources employee surfs the internet, including My
Space and Facebook during working hours for information about prospective employees
Which of the following is true with regard to the relative importance of interviewing? -
CORRECT ANSWER interviewing is an integral part of auditing, fraud examination
and forensic accounting and all such professionals should develop and refine interviewing
skills
Which scenario is an example of larceny? - CORRECT ANSWER Brook borrowed a
company computer and didn't inted to return it
The fraud traingle helps anti-fraud professionals understand and possibly identify which of
the following types of fraud perpetrators? - CORRECT ANSWER The perpetrator
whose spouse is diagnosed with a rare cancer that is not covered by the employee's health
insurance but whose treatment will be very expensive and cost more than the employee earns
Which of the following is a true statement about fraud statistics? - CORRECT
ANSWER Middle aged men and women tend to steal the most frequently
Which of the following is a true statement about the detection of fraud? - CORRECT
ANSWER the combined frequency of tips and accidents in discovering fraud exceeds
the combined frequency of internal and external audits
Which of the following would likely be characterized as a forensic accounting investigation
rather than a fraud examination? - CORRECT ANSWER a plaintiff claims that a
breach of contract by a vendor resulted in a loss of business and ultimate bankruptcy
, Given the elements of fraud, which element is most often associated with evidence of intent
by the perpetrator? - CORRECT ANSWER the concealment
Which of the following is a true statement about fraud examination methodology? -
CORRECT ANSWER remediation requires a critical examination of internal control
weaknesses
According to the anticipated future employement trend in fraud examination and financial
forensics, opportunities for students are expected to _______ in the future - CORRECT
ANSWER increase
Employement opportunities for fraud examination and financial forensics specialists and
other related professions include all but which of the following: - CORRECT
ANSWER engineering
Which is true of fraud examination and financial forensic skills? - CORRECT
ANSWER fraud examiners and forensic accountants need to have some understanding
of a broad range of knowledge, skills and abilities including such fields as psychology, law
and information systems
Which of the following is true concerning professional organizations that support fraud
examination and financial forensics professionals and their certifications? - CORRECT
ANSWER the Association of Certified Fraud Examiners created and administers the
Certified Fraud Examiners credential
The Chartered Accountant (CA) title is the international equivalent of: - CORRECT
ANSWER Certified Public Accountant (CPA)
In fraud examination and financial forensics, which prerequisite knowledge, skills, and
abilities are required? - CORRECT ANSWER basic accounting such as tracing money
through a checking account
Actual Questions and CORRECT Answers
Which of the following is NOT an esential element of fraud? - CORRECT
ANSWER evidence that the statement was false
Select from the following situations the one that should NOT be defined as abuse: -
CORRECT ANSWER a human resources employee surfs the internet, including My
Space and Facebook during working hours for information about prospective employees
Which of the following is true with regard to the relative importance of interviewing? -
CORRECT ANSWER interviewing is an integral part of auditing, fraud examination
and forensic accounting and all such professionals should develop and refine interviewing
skills
Which scenario is an example of larceny? - CORRECT ANSWER Brook borrowed a
company computer and didn't inted to return it
The fraud traingle helps anti-fraud professionals understand and possibly identify which of
the following types of fraud perpetrators? - CORRECT ANSWER The perpetrator
whose spouse is diagnosed with a rare cancer that is not covered by the employee's health
insurance but whose treatment will be very expensive and cost more than the employee earns
Which of the following is a true statement about fraud statistics? - CORRECT
ANSWER Middle aged men and women tend to steal the most frequently
Which of the following is a true statement about the detection of fraud? - CORRECT
ANSWER the combined frequency of tips and accidents in discovering fraud exceeds
the combined frequency of internal and external audits
Which of the following would likely be characterized as a forensic accounting investigation
rather than a fraud examination? - CORRECT ANSWER a plaintiff claims that a
breach of contract by a vendor resulted in a loss of business and ultimate bankruptcy
, Given the elements of fraud, which element is most often associated with evidence of intent
by the perpetrator? - CORRECT ANSWER the concealment
Which of the following is a true statement about fraud examination methodology? -
CORRECT ANSWER remediation requires a critical examination of internal control
weaknesses
According to the anticipated future employement trend in fraud examination and financial
forensics, opportunities for students are expected to _______ in the future - CORRECT
ANSWER increase
Employement opportunities for fraud examination and financial forensics specialists and
other related professions include all but which of the following: - CORRECT
ANSWER engineering
Which is true of fraud examination and financial forensic skills? - CORRECT
ANSWER fraud examiners and forensic accountants need to have some understanding
of a broad range of knowledge, skills and abilities including such fields as psychology, law
and information systems
Which of the following is true concerning professional organizations that support fraud
examination and financial forensics professionals and their certifications? - CORRECT
ANSWER the Association of Certified Fraud Examiners created and administers the
Certified Fraud Examiners credential
The Chartered Accountant (CA) title is the international equivalent of: - CORRECT
ANSWER Certified Public Accountant (CPA)
In fraud examination and financial forensics, which prerequisite knowledge, skills, and
abilities are required? - CORRECT ANSWER basic accounting such as tracing money
through a checking account
