ACFE CFE-Fraud-Prevention-and-Deterrence Exam Practice Test Instant Access

Question 1

The internal auditor's fraud-related responsibilities include which of the following?

AEvaluating whether management is actively retaining responsibility for oversight of the fraud risk management program

BReporting to regulators regarding the entity's vulnerability to fraud

COverseeing management's actions to manage fraud risks

DAttesting that the organization's financial statements are free of material misstatements caused by fraud

Answer : A

Question 2

According to the results of behavioral studies, such as those conducted by B. F. Skinner, application of punishment to undesired behavior typically results in which of the following?

Aincrease in the occurrence of the undesired behavior

BNo effect on the occurrence of the undesired behavior

CTemporary suppression of the undesired behavior

DPermanent suppression of the undesired behavior

Answer : C

Question 3

Which of the following is NOT explicitly prohibited by the ACFE Code of Professional Ethics?

AActing in a way that could be deemed unethical by the industry

BDrawing conclusions based upon evidence

CParticipating in an activity where there is an undisclosed conflict of interest

DEngaging in behavior that is against the law

Answer : B

Question 4

Which of the following Is TRUE regarding the reporting of the fraud risk assessment results?

AThe fraud risk assessment report should be delivered in a style most suited to the language of the business

BThe fraud risk assessment report should contain a detailed, comprehensive list of every assessment finding

CA fraud risk assessment report should reflect the assessment team's subjective perspective regarding the risks identified

DAll of the above

Answer : D

Question 5

Jane, a Certified Fraud Examiner (CFE), was hired lo conduct a fraud examination at XYZ Company Her examination did not reveal any conclusive evidence that fraud had occurred or was occurring Consequently. XYZ's management asked Jane to state in her official examination report that the company is free of fraud as a means of assuring the board of directors that the company's anti-fraud controls were effective. The ACFE Code of Professional Ethics prohibits Jane from complying with management's request.

ATrue

BFalse

Answer : A

Question 6

Which of the following is among the board of directors' primary responsibilities related to fraud risk management?

AOverseeing the organization's fraud risk management activities

BDesigning the fraud risk management program

CPunishing fraud perpetrators discovered through fraud risk management activities

DImplementing the fraud risk management program

Answer : A

Question 7

Which of the following is TRUE regarding government auditors' responsibilities to report evidence of potential fraud uncovered during an audit of a public-sector organization's financial statements?

AAll government auditors maintain the same requirements for reporting evidence of potential fraud uncovered during a public-sector financial statement audit.

BGovernment auditors are legally prohibited from reporting evidence of potential fraud to any parties outside the organization being audited.

CGovernment auditors' reporting requirements pertaining to fraud are substantially the same as those for external auditors in the private sector.

DThe requirements for government auditors to report evidence of potential fraud depend on the jurisdiction and the specific audit mandate.

Answer : D

ACFE CFE-Fraud-Prevention-and-Deterrence Certified Fraud Examiner - Fraud Prevention and Deterrence Exam Practice Test