CFCI EXAM TEST BANK NEWEST 2026 ACTUAL EXAM WITH
COMPLETE 700 QUESTIONS AND CORRECT ANSWERS ALREADY
GRADED A+ / GUARANTEED PASS
A scam that preys upon our acceptance of authority and willingness to
cooperate with others. The social engineer's objective is to extract
sensitive information such as your social security number, bank account
information, or login name and password to a website - ANS >>
according to the business software alliance (bass), a nonprofit industry
association, social engineering is
Have your internal audit or loan operations department run periodic
computer reports to screen for multiple loans with no apparent
legitimate connection, but with the same mailing address— usually a po
box. (Possible fraudulent straw buyer schemes.) - ANS >> specific loan
fraud prevention checklist #3
Fraud - ANS >> "any illegal acts characterized by deceit, concealment, or
violation of trust. These acts are not dependent upon the
perpetrated by individuals and organizations to obtain money, property,
or services; to avoid payment or loss of services; or to secure personal
or business ad-vantage."
,Working capital or asset-based loan fraud - ANS >> typically are made by
committing the borrower's receivables, inventory, or other assets as
collateral. Also referred to a "floor-plan" lending as merchandise is used
as collateral for the loan.
Main types of fraud - ANS >> internal fraud and external fraud
Internal fraud - ANS >> which involves the employees of the company
against which the fraud is perpetrated. Also referred to as occupational
fraud.
External fraud - ANS >> deceptive conduct by non-employees that
Deprives the organization of value, and/or is undertaken for financial
gain.
Embezzlement - ANS >> the theft of money, property, or other assets of the
employer. The act by one or more individuals of dishonestly
withholding or misappropriating assets entrusted to them, for the
purpose of using them for personal benefit. Authorized to have lawful
possession of the asset/property. However, he/she has no right to
convert, change, or alter the characteristics of the asset, or to convert
title from its rightful owner.
Financial fraud - ANS >> "cooking the books." this type of
,Fraud generally refers to falsely representing the financial condition of
the company, so as to inflate the value of stock, fraudulently boost
executive bonuses, or otherwise mislead shareholders, lenders,
employees, investment analysts, or other users of the information.
Skimming (cash larceny) - ANS >> accounts receivable fraud, this Involves
simply stealing cash before it enters the organization's
accounting system.
Billing schemes - ANS >> perpetrated by employees who cause their
employer to issue a payment to a false supplier by submitting invoices
for fictitious goods or services, inflated invoices, or invoices for personal
purchases.
Check tampering - ANS >> taking advantage of employee access to blank
company checks, using a password to
Steal computer-generated checks, or producing counterfeit checks.
Employee reimbursement scheme - ANS >> making false claims for
reimbursement, or inflating or creating fictitious business expenses.
(travel /meal reimbursement.
Corruption - ANS >> **bribery (when something of value is offered or given
to influence a business decision), **illegal gratuity (when
, something of value is given to an employee to reward a business
decision), and **extortion (when a person demands payment or seeks
to influence a business decision by threat of harm through loss of
business or personal injury).
Bribery - ANS >> when something of value is offered or given to influence a
business decision. Bribery, illegal gratuities, and/or extortion. Bribery is
a "quid pro quo" or "this for that,"
Illegal gratuities - ANS >> when something of value is given to an employee
to reward a business decision. Gratuity is "a reward" or "a gift."
Extortion - ANS >> when a person demands payment or seeks to
influence a business decision by threat of harm through loss of business
or personal injury.
Kickback schemes - ANS >> involving employees and vendors, often using
inflated billing or invoices for which the employee is paid a portion of
the inflated or fictitious invoice.
Credit card fraud/ debit card - ANS >> the creation, sale, or use of a
counterfeit credit card, or the use of a stolen credit or debit card.
COMPLETE 700 QUESTIONS AND CORRECT ANSWERS ALREADY
GRADED A+ / GUARANTEED PASS
A scam that preys upon our acceptance of authority and willingness to
cooperate with others. The social engineer's objective is to extract
sensitive information such as your social security number, bank account
information, or login name and password to a website - ANS >>
according to the business software alliance (bass), a nonprofit industry
association, social engineering is
Have your internal audit or loan operations department run periodic
computer reports to screen for multiple loans with no apparent
legitimate connection, but with the same mailing address— usually a po
box. (Possible fraudulent straw buyer schemes.) - ANS >> specific loan
fraud prevention checklist #3
Fraud - ANS >> "any illegal acts characterized by deceit, concealment, or
violation of trust. These acts are not dependent upon the
perpetrated by individuals and organizations to obtain money, property,
or services; to avoid payment or loss of services; or to secure personal
or business ad-vantage."
,Working capital or asset-based loan fraud - ANS >> typically are made by
committing the borrower's receivables, inventory, or other assets as
collateral. Also referred to a "floor-plan" lending as merchandise is used
as collateral for the loan.
Main types of fraud - ANS >> internal fraud and external fraud
Internal fraud - ANS >> which involves the employees of the company
against which the fraud is perpetrated. Also referred to as occupational
fraud.
External fraud - ANS >> deceptive conduct by non-employees that
Deprives the organization of value, and/or is undertaken for financial
gain.
Embezzlement - ANS >> the theft of money, property, or other assets of the
employer. The act by one or more individuals of dishonestly
withholding or misappropriating assets entrusted to them, for the
purpose of using them for personal benefit. Authorized to have lawful
possession of the asset/property. However, he/she has no right to
convert, change, or alter the characteristics of the asset, or to convert
title from its rightful owner.
Financial fraud - ANS >> "cooking the books." this type of
,Fraud generally refers to falsely representing the financial condition of
the company, so as to inflate the value of stock, fraudulently boost
executive bonuses, or otherwise mislead shareholders, lenders,
employees, investment analysts, or other users of the information.
Skimming (cash larceny) - ANS >> accounts receivable fraud, this Involves
simply stealing cash before it enters the organization's
accounting system.
Billing schemes - ANS >> perpetrated by employees who cause their
employer to issue a payment to a false supplier by submitting invoices
for fictitious goods or services, inflated invoices, or invoices for personal
purchases.
Check tampering - ANS >> taking advantage of employee access to blank
company checks, using a password to
Steal computer-generated checks, or producing counterfeit checks.
Employee reimbursement scheme - ANS >> making false claims for
reimbursement, or inflating or creating fictitious business expenses.
(travel /meal reimbursement.
Corruption - ANS >> **bribery (when something of value is offered or given
to influence a business decision), **illegal gratuity (when
, something of value is given to an employee to reward a business
decision), and **extortion (when a person demands payment or seeks
to influence a business decision by threat of harm through loss of
business or personal injury).
Bribery - ANS >> when something of value is offered or given to influence a
business decision. Bribery, illegal gratuities, and/or extortion. Bribery is
a "quid pro quo" or "this for that,"
Illegal gratuities - ANS >> when something of value is given to an employee
to reward a business decision. Gratuity is "a reward" or "a gift."
Extortion - ANS >> when a person demands payment or seeks to
influence a business decision by threat of harm through loss of business
or personal injury.
Kickback schemes - ANS >> involving employees and vendors, often using
inflated billing or invoices for which the employee is paid a portion of
the inflated or fictitious invoice.
Credit card fraud/ debit card - ANS >> the creation, sale, or use of a
counterfeit credit card, or the use of a stolen credit or debit card.
