2023 Latest 100% Exam Passing Ratio - CFE-Fraud-Prevention-and-Deterrence Dumps PDF
Pass Exam With Full Sureness - CFE-Fraud-Prevention-and-Deterrence Dumps with 140 Questions
ACFE CFE-Fraud-Prevention-and-Deterrence Certification Exam is an important credential for professionals who are responsible for preventing and detecting fraud in their organizations. Certified Fraud Examiner - Fraud Prevention and Deterrence Exam certification demonstrates a professional's commitment to ethical standards and provides employers with a reliable measure of a candidate's expertise in fraud prevention and deterrence.
NEW QUESTION # 35
Employee support programs are a fraud prevention mechanism that addresses which leg of the Fraud Triangle
- A. Opportunity
- B. Lack of integrity
- C. Pressure
- D. Rationalization
Answer: D
NEW QUESTION # 36
Which of the following is FALSE regarding an organization's anti-fraud policy?
- A. To avoid legal problems in discharging employees, the anti-fraud policy should not include any specific examples of fraud and misconduct
- B. A detailed anti-fraud policy can make it easier to investigate and punish employees who commit fraud and other dishonest acts.
- C. In developing the anti-fraud policy, management should check with legal counsel regarding any legal considerations with respect to the policy
- D. One of the most important considerations in developing the anti-fraud policy is to ensure every allegation is handled in a uniform-manner
Answer: A
NEW QUESTION # 37
Which of the following is among the board of directors' primary responsibilities related to fraud risk management?
- A. Punishing fraud perpetrators discovered through fraud risk management activities
- B. Implementing the fraud risk management program
- C. Designing the fraud risk management program
- D. Overseeing the organization's fraud risk management activities
Answer: D
NEW QUESTION # 38
An effective system of anti-fraud controls
- A. Fully eliminates the risk of fraud
- B. Focuses more on detective controls than preventive controls
- C. Focuses more on preventive controls than detective controls
- D. Increases the perception that fraud will be detected
Answer: C
NEW QUESTION # 39
In Ihe context of fraud examination, integrity requires all of the following EXCEPT:
- A. An ability to analyze situations where no professional rules are specifically applicable and determine right from wrong
- B. Independence of mental attitude
- C. Avoidance of differences of opinion
- D. Subordination of desires for personal gain to the interests of clients, employers, and the public
Answer: C
NEW QUESTION # 40
According to The Institute of Internal Auditors (IIA) International Standards for the Professional Practice of Internal Auditing, which of the following should the internal audit team evaluate in its assessment of the risk management process?
- A. The management team's assessment of the internal controls over financial reporting
- B. The materiality of the organization s financial statements
- C. The organization s fraud risk management initiatives
- D. The organization s risk exposures relating to the sale of assets
Answer: C
NEW QUESTION # 41
According to the differential reinforcement theory, behavior is weakened when positive rewards are gained or punishment is avoided
- A. True
- B. False
Answer: A
NEW QUESTION # 42
According to G20/OECD Principles of Corporate Governance (the Principles):
- A. Companies should disclose all financial information to investors, regardless of the cost burden of the disclosure
- B. Governments should have in place a corporate governance framework that promotes transparent and fair markets
- C. All of the above
- D. A corporate governance framework should focus on the rights of shareholders but does not need to include the rights of other organizational stakeholders
Answer: B
NEW QUESTION # 43
Which of the following is TRUE regarding the communication of the fraud risk assessment process?
- A. All of the above
- B. The communication should be visibly disseminated throughout the business
- C. The communication should be made in a format mat is most appropriate for the culture of the organization
- D. The more personalized the communication, the more effective it will be in encouraging employees to participate
Answer: A
NEW QUESTION # 44
_____________Is the criminological theory that presents crime as a conscious decision that can be deterred by reducing opportunities for criminal activity and increasing the personal risk to an Individual of being caught and punished.
- A. Justification of action theory
- B. Routine activities theory
- C. Differential association theory
- D. Rational choice theory
Answer: C
NEW QUESTION # 45
Which of the following is TRUE regarding corporate governance?
- A. Effective corporate governance practices are most necessary in an organization in which the owners are also the individuals responsible for setting the corporate strategy.
- B. An entity's corporate governance structure specifies the distribution of rights and responsibilities among the different participants in the organization
- C. Corporate governance's primary purpose is to ensure the accuracy of the organization's financial reports
- D. Fraud risk management is considered to be the foundation of effective corporate governance
Answer: D
NEW QUESTION # 46
Glend
a. an internal auditor, and Brldgette. an accounts receivable clerk, have had several heated disagreements over accounting procedures and policies. Glenda has just been told that she will be the lead on the company's fraud risk assessment. During the fraud risk assessment. Glenda should:
- A. Include her disagreements with Bridgette as a factor when assessing the risk of fraud in the accounts receivable department.
- B. Confront Bridgette about the disagreements and discuss how they increase the department's risk of fraud.
- C. Have someone else perform the fraud risk assessment work related to the accounts receivable department's activities.
- D. Automatically designate the accounts receivable department as a high-risk area.
Answer: A
NEW QUESTION # 47
Which of the following is TRUE regarding the internal audit function's reporting responsibilities pertaining to fraud?
- A. The internal audit function should not disclose the results of its fraud audits to senior management or the board of directors in order to maintain independence.
- B. The internal audit function is not permitted to communicate with the board of directors about fraud, as that is the responsibility of external auditors.
- C. The internal audit function should discuss how and when to report fraud-related issues with senior management and the board of directors before such issues arise.
- D. The internal audit function is permitted, but not required, to periodically report about the organization's fraud risks to senior management and the board of directors.
Answer: D
NEW QUESTION # 48
To be in compliance with the ACFE Code of Professional Ethics, fraud examiners must have:
- A. An expert level of experience for every circumstance that might be encountered in a fraud examination
- B. A Sufficient skill and knowledge to recognize when additional training or expert guidance is required
- C. An expert level of knowledge for every circumstance that might be encountered in a fraud examination
- D. Sufficient resources to obtain the training needed to become an expert on all facets of fraud examinations
Answer: D
NEW QUESTION # 49
According to Silk and Vogel's research, business leaders rationalize legal violations by asserting that compliance with government regulations is too costly and cuts too heavily into company profits.
- A. True
- B. False
Answer: A
NEW QUESTION # 50
Which of the following is a detective anti-fraud control?
- A. Hiring policies and procedures
- B. Independent reconciliations
- C. Fraud awareness training
- D. Separation of duties
Answer: D
NEW QUESTION # 51
Which of the following Is TRUE regarding the reporting of the fraud risk assessment results?
- A. All of the above
- B. The fraud risk assessment report should be delivered in a style most suited to the language of the business
- C. A fraud risk assessment report should reflect the assessment team's subjective perspective regarding the risks identified
- D. The fraud risk assessment report should contain a detailed, comprehensive list of every assessment finding
Answer: A
NEW QUESTION # 52
Sofia, a Certified Fraud Examiner (CFE). look an introductory class in computer forensics When a client thought there might be evidence of a crime on his hard drive. Sofia decided to conduct a forensic examination of the hard drive even though she had no experience or advanced training in this area Sofia's conduct would likely be a violation of the ACFE Code of Professional Ethics
- A. True
- B. False
Answer: A
NEW QUESTION # 53
The theory of differential association is used frequently lo explain white-collar criminality. Which of the following is NOT one of the assertions or principles of differential association?
- A. Criminal behavior is acquired through participation with intimate personal groups.
- B. Criminal behavior is explained by an individual's general needs and values.
- C. Criminal behavior is learned from other people in a process of communication.
- D. Criminal behavior is learned using the same mechanisms as other learning
Answer: B
NEW QUESTION # 54
Which of the following statements is FALSE?
- A. Controls are not effective in preventing theft and fraud If those at risk do not know of their presence
- B. Most experts agree that it is harder to detect frauds than to prevent them
- C. Educating employees about company hotlines and reporting programs increases their perception of detection
- D. Conducting covert audits is among the most effective fraud prevention methods
Answer: A
NEW QUESTION # 55
According to the 2018 Report to the Nations, which of the following is the most common method by which frauds are detected?
- A. External audit
- B. Internal audit
- C. Confession
- D. Tips
Answer: D
NEW QUESTION # 56
International Standard on Auditing (ISA) 240 establishes auditors as being primarily responsible for the prevention and detection of fraud within an organization
- A. False
- B. True
Answer: A
NEW QUESTION # 57
Julia is conducting a formal assessment of XYZ Corporation s ethical culture To which of the five components of the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Internal Control-Integrated Framework (the Framework) does her assessment pertain?
- A. Monitoring
- B. Control environment
- C. Information and communication
- D. Control activities
Answer: B
NEW QUESTION # 58
Which of the following is FALSE regarding fraud examiners responsibilities under the ACFE Code of Professional Ethics?
- A. If fraud examiners become aware of a situation that might appear to others as though they have a conflict of interest they should immediately disclose the situation to company management
- B. Confidential information provided to fraud examiners by their clients is considered privileged and therefore legally exempt from disclosure in all circumstances
- C. In determining what information to include in a fraud examination report, fraud examiners should try to decide what users will consider important and material
- D. Fraud examiners must obtain and document evidence in a manner that ensures that the chain of custody is preserved
Answer: C
NEW QUESTION # 59
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