CFE-Fraud-Prevention-and-Deterrence Dumps Free Download - CFE-Fraud-Prevention-and-Deterrence Test Pass4sure
CFE-Fraud-Prevention-and-Deterrence Dumps Free Download - CFE-Fraud-Prevention-and-Deterrence Test Pass4sure
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The ACFE CFE-Fraud-Prevention-and-Deterrence Exam is comprised of multiple-choice questions and is computer-based. It is designed to be challenging and requires a thorough understanding of the subject matter. Those preparing to take the exam should expect to spend a significant amount of time studying and preparing.
The first section of the exam covers fraud prevention and deterrence, which includes topics such as risk assessment, fraud prevention programs, and the role of management in fraud prevention. This section also covers the various types of fraud that can occur in a business, including employee fraud, vendor fraud, and financial statement fraud.
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ACFE Certified Fraud Examiner - Fraud Prevention and Deterrence Exam Sample Questions (Q21-Q26):
NEW QUESTION # 21
Which of the following is TRUE regarding proactive fraud auditing procedures?
- A. Surprise audit procedures are an effective fraud detection mechanism, but they do not help prevent fraud
- B. Fraud assessment Questioning techniques are most appropriately used when attempting to determine who might be responsible for a particular fraud scheme.
- C. Analytical review of the financial statements is best used to uncover small frauds that might be missed by other detection methods.
- D. Implementing proactive fraud audit procedures demonstrates the organization's intention to aggressively look for possible fraudulent conduct.
Answer: D
Explanation:
Step by Step Comprehensive Detailed Explanation with All References:
* Proactive Fraud Auditing:
* Proactive fraud audit procedures aim to prevent and detect fraud before it escalates.
Implementing these procedures signals to employees and stakeholders that fraud will not be tolerated.
* Such actions align with creating a strong anti-fraud culture within the organization.
* Examples of Proactive Fraud Audits:
* Surprise audits, continuous monitoring, and analytical procedures identify discrepancies and potential fraud risks.
* Fraud prevention and deterrence are enhanced through consistent implementation.
* Effectiveness and Prevention:
* Unlike reactive measures, proactive approaches demonstrate an organization's commitment to maintaining integrity and ethical standards.
NEW QUESTION # 22
Effectively documenting and communicating organizational hierarchies, including the proper flow of information, can be a helpful tool in preventing fraud
- A. False
- B. True
Answer: B
NEW QUESTION # 23
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
Explanation:
* Purpose of Anti-Fraud Controls:
* Preventive controls deter fraud before it occurs, making them the primary focus of an effective anti-fraud program.
* Detective controls identify fraud after it has occurred, serving as a secondary line of defense.
* Analysis of Options:
* A. Fully eliminates risk: No system can fully eliminate fraud risk.
* B. Focus on detective controls: Less effective than prevention.
* D. Increases perception of detection: Important but not the primary focus.
* Conclusion:An effective anti-fraud system emphasizes preventive controls.
References:ACFE guidance on fraud control systems.
NEW QUESTION # 24
Benjamin, a Certified Fraud Examiner (CFE). was contacted regarding an engagement to investigate a complex money laundering case spanning numerous international jurisdictions and involving multiple cutting-edge technologies. Benjamin had previously attended a seminar on investigating money laundering schemes, but he had no other training or experience in such cases. However, he accepted the engagement and chose to conduct the work himself. Benjamin's conduct would likely be a violation of the ACFE Code of Professional Ethics.
- A. False
- B. True
Answer: B
NEW QUESTION # 25
Which of the following is one of the components of the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Enterprise Risk Management-Integrating with Strategy and Performance?
- A. Review and revision
- B. Event avoidance
- C. Compliance
- D. Risk tolerance
Answer: C
NEW QUESTION # 26
......
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