ACFE Report UPDATED EXAM Questions And
CORRECT Answers
5-7% - CORRECT ANSWERS The CFEs who participated in our survey estimated that the
typical organization losses _____ of revenue in a given year as a result of fraud.
$6.3 billion
$2.7 million - CORRECT ANSWERS The total loss caused by the cases in our study
exceeded _____, with an average loss per case of _____.
$150,000
23.2%
$1 million - CORRECT ANSWERS The median loss for all cases in our study was _____, with
_____ of cases causing losses of _____ or more.
83%
$125,000 - CORRECT ANSWERS Asset misappropriation was by far the most common form
of occupational fraud, occurring in more than _____ of cases, but causing the smallest median
loss of _____.
10%
$975,000 - CORRECT ANSWERS Financial statement fraud is on the other hand of the
spectrum, occurring in less than _____ of cases but causing a median loss of _____.
35.4%
$200,000 - CORRECT ANSWERS Corruption cases fell in the middle, with _____ of cases
and a median loss of _____.
, Billing schemes
Check tampering schemes - CORRECT ANSWERS Among the various of assets
misappropriation, _____ and _____ posed the greater risk based on their relative frequency and
median loss.
longer
greater - CORRECT ANSWERS The _____ a fraud lasted, the _____ the financial damage it
caused.
Rose
Increased - CORRECT ANSWERS While the median duration of the frauds in our study was
18 months, the losses _____ as the duration _____.
5 years
$850,000 - CORRECT ANSWERS At the extreme end, those schemes that lasted more than
_____ caused a median loss of _____.
94.5%
conceal - CORRECT ANSWERS In _____ of the cases in our study, the perpetrator took
some efforts to _____ the fraud.
creating
altering - CORRECT ANSWERS The most common concealment methods were _____ and
_____ physical documents.
physical documents - CORRECT ANSWERS The most common concealment methods were
creating and altering _____.
CORRECT Answers
5-7% - CORRECT ANSWERS The CFEs who participated in our survey estimated that the
typical organization losses _____ of revenue in a given year as a result of fraud.
$6.3 billion
$2.7 million - CORRECT ANSWERS The total loss caused by the cases in our study
exceeded _____, with an average loss per case of _____.
$150,000
23.2%
$1 million - CORRECT ANSWERS The median loss for all cases in our study was _____, with
_____ of cases causing losses of _____ or more.
83%
$125,000 - CORRECT ANSWERS Asset misappropriation was by far the most common form
of occupational fraud, occurring in more than _____ of cases, but causing the smallest median
loss of _____.
10%
$975,000 - CORRECT ANSWERS Financial statement fraud is on the other hand of the
spectrum, occurring in less than _____ of cases but causing a median loss of _____.
35.4%
$200,000 - CORRECT ANSWERS Corruption cases fell in the middle, with _____ of cases
and a median loss of _____.
, Billing schemes
Check tampering schemes - CORRECT ANSWERS Among the various of assets
misappropriation, _____ and _____ posed the greater risk based on their relative frequency and
median loss.
longer
greater - CORRECT ANSWERS The _____ a fraud lasted, the _____ the financial damage it
caused.
Rose
Increased - CORRECT ANSWERS While the median duration of the frauds in our study was
18 months, the losses _____ as the duration _____.
5 years
$850,000 - CORRECT ANSWERS At the extreme end, those schemes that lasted more than
_____ caused a median loss of _____.
94.5%
conceal - CORRECT ANSWERS In _____ of the cases in our study, the perpetrator took
some efforts to _____ the fraud.
creating
altering - CORRECT ANSWERS The most common concealment methods were _____ and
_____ physical documents.
physical documents - CORRECT ANSWERS The most common concealment methods were
creating and altering _____.
