CFCS exam with correct answers |\ |\ |\ |\
Accounts Payable - CORRECT ANSWERS ✔✔The balance |\ |\ |\ |\ |\ |\ |\
of short term debt an organization owes to its creditors,
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
like payments to vendors and suppliers. It appears under
|\ |\ |\ |\ |\ |\ |\ |\ |\
current liabilities on a balance sheet.
|\ |\ |\ |\ |\
Accounts Receivable - CORRECT ANSWERS ✔✔The |\ |\ |\ |\ |\ |\
balance of money owed to an organization for goods or
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
services provided to customers but not yet paid for. Any
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
outstanding invoices or debts owed by clients would be |\ |\ |\ |\ |\ |\ |\ |\ |\
entered as accounts receivable on financial statements.
|\ |\ |\ |\ |\ |\
Advance Fee Fraud - CORRECT ANSWERS ✔✔A scheme in
|\ |\ |\ |\ |\ |\ |\ |\ |\
which fraudsters offer securities, lottery winnings or other
|\ |\ |\ |\ |\ |\ |\
seemingly attractive false investments, but ask the
|\ |\ |\ |\ |\ |\ |\ |\
victims to pay an upfront fee to participate.
|\ |\ |\ |\ |\ |\ |\
Affinity Fraud - CORRECT ANSWERS ✔✔Refers to scams
|\ |\ |\ |\ |\ |\ |\ |\
that target members of groups which shares some central
|\ |\ |\ |\ |\ |\ |\ |\
characteristic, such as members of the same religion,
|\ |\ |\ |\ |\ |\ |\ |\ |\
ethnic community or profession.
|\ |\ |\
Benford's Law - CORRECT ANSWERS ✔✔A mathematical |\ |\ |\ |\ |\ |\ |\
theory that says certain digits appear more frequently
|\ |\ |\ |\ |\ |\ |\ |\
, than others at certain positions in real world data sets. It
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
can be used to detect anomalies in financial statements
|\ |\ |\ |\ |\ |\ |\ |\ |\
that could indicate fraud.
|\ |\ |\
Bitcoin - CORRECT ANSWERS ✔✔One of the earliest and
|\ |\ |\ |\ |\ |\ |\ |\ |\
most successful cryptocurrency's, it is a decentralized
|\ |\ |\ |\ |\ |\ |\
form of electronic money and payment system. It allows
|\ |\ |\ |\ |\ |\ |\ |\ |\
for the transfer of value directly between a user network,
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
with no intermediary institutions.
|\ |\ |\
BMPE (Black Market Peso Exchange) - CORRECT
|\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔A system by which illicit proceeds are |\ |\ |\ |\ |\ |\ |\ |\
laundered through a combination of exchange of |\ |\ |\ |\ |\ |\ |\
currencies and international trade in goods. Despite its |\ |\ |\ |\ |\ |\ |\ |\
name, it does not have to involve the use of pesos.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Bribery - CORRECT ANSWERS ✔✔The active offering or
|\ |\ |\ |\ |\ |\ |\ |\
receiving something of value in exchange for an action, |\ |\ |\ |\ |\ |\ |\ |\ |\
favor or influence that the recipient would otherwise not
|\ |\ |\ |\ |\ |\ |\ |\ |\
have provided. It typically involves government officials
|\ |\ |\ |\ |\ |\ |\
as recipients.
|\
Business Email Compromise - CORRECT ANSWERS ✔✔A |\ |\ |\ |\ |\ |\ |\
cyber attack with perpetrator sins email messages
|\ |\ |\ |\ |\ |\ |\
masquerading as someone else, to trick a target into |\ |\ |\ |\ |\ |\ |\ |\ |\
taking some action. Often, The attacker pretends to be a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Accounts Payable - CORRECT ANSWERS ✔✔The balance |\ |\ |\ |\ |\ |\ |\
of short term debt an organization owes to its creditors,
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
like payments to vendors and suppliers. It appears under
|\ |\ |\ |\ |\ |\ |\ |\ |\
current liabilities on a balance sheet.
|\ |\ |\ |\ |\
Accounts Receivable - CORRECT ANSWERS ✔✔The |\ |\ |\ |\ |\ |\
balance of money owed to an organization for goods or
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
services provided to customers but not yet paid for. Any
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
outstanding invoices or debts owed by clients would be |\ |\ |\ |\ |\ |\ |\ |\ |\
entered as accounts receivable on financial statements.
|\ |\ |\ |\ |\ |\
Advance Fee Fraud - CORRECT ANSWERS ✔✔A scheme in
|\ |\ |\ |\ |\ |\ |\ |\ |\
which fraudsters offer securities, lottery winnings or other
|\ |\ |\ |\ |\ |\ |\
seemingly attractive false investments, but ask the
|\ |\ |\ |\ |\ |\ |\ |\
victims to pay an upfront fee to participate.
|\ |\ |\ |\ |\ |\ |\
Affinity Fraud - CORRECT ANSWERS ✔✔Refers to scams
|\ |\ |\ |\ |\ |\ |\ |\
that target members of groups which shares some central
|\ |\ |\ |\ |\ |\ |\ |\
characteristic, such as members of the same religion,
|\ |\ |\ |\ |\ |\ |\ |\ |\
ethnic community or profession.
|\ |\ |\
Benford's Law - CORRECT ANSWERS ✔✔A mathematical |\ |\ |\ |\ |\ |\ |\
theory that says certain digits appear more frequently
|\ |\ |\ |\ |\ |\ |\ |\
, than others at certain positions in real world data sets. It
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
can be used to detect anomalies in financial statements
|\ |\ |\ |\ |\ |\ |\ |\ |\
that could indicate fraud.
|\ |\ |\
Bitcoin - CORRECT ANSWERS ✔✔One of the earliest and
|\ |\ |\ |\ |\ |\ |\ |\ |\
most successful cryptocurrency's, it is a decentralized
|\ |\ |\ |\ |\ |\ |\
form of electronic money and payment system. It allows
|\ |\ |\ |\ |\ |\ |\ |\ |\
for the transfer of value directly between a user network,
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
with no intermediary institutions.
|\ |\ |\
BMPE (Black Market Peso Exchange) - CORRECT
|\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔A system by which illicit proceeds are |\ |\ |\ |\ |\ |\ |\ |\
laundered through a combination of exchange of |\ |\ |\ |\ |\ |\ |\
currencies and international trade in goods. Despite its |\ |\ |\ |\ |\ |\ |\ |\
name, it does not have to involve the use of pesos.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Bribery - CORRECT ANSWERS ✔✔The active offering or
|\ |\ |\ |\ |\ |\ |\ |\
receiving something of value in exchange for an action, |\ |\ |\ |\ |\ |\ |\ |\ |\
favor or influence that the recipient would otherwise not
|\ |\ |\ |\ |\ |\ |\ |\ |\
have provided. It typically involves government officials
|\ |\ |\ |\ |\ |\ |\
as recipients.
|\
Business Email Compromise - CORRECT ANSWERS ✔✔A |\ |\ |\ |\ |\ |\ |\
cyber attack with perpetrator sins email messages
|\ |\ |\ |\ |\ |\ |\
masquerading as someone else, to trick a target into |\ |\ |\ |\ |\ |\ |\ |\ |\
taking some action. Often, The attacker pretends to be a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
