Online Access Free CFE-Financial-Transactions-and-Fraud-Schemes Exam Questions

Which of the following is the criterion for bid solicitation?

• A.Containing false statements
• B.To withdraw low bids
• C.Allowing the purchaser to discuss possible employment with the contractor
• D.To falsify the bid log

Which of the following controls BEST describes the safeguards an organization implements to provide protection for computing resources by increasing security policies and awareness, conducting security audits and tests, and properly classifying data?

• A.Physical access controls
• B.Administrative security controls
• C.Technical security controls
• D.Logical access controls

Which of the following is NOT a method for stealing inventory and other assets?

• A.Sales & Equipment handling
• B.Larceny schemes
• C.Purchasing and receiving schemes
• D.Asset requisition and transfer

Horizontal analysis can BEST be described as:

• A.A technique for analyzing the percentage change in individual line items on a financial statement from one accounting period to the next accounting period.
• B.A technique for analyzing the relationships among items on the financial statement where components are expressed as percentages of a specified base value.
• C.A technique for measuring the relationship between any two different financial statement amounts.
• D.A technique for comparing the performance of different companies in the same industry for an extended period.

According to accounting principles, ________ and ________ should be recorded or matched in the same accounting period; failing to do so violates the matching principle of GAAP.

• A.Income statement and Long-term contracts
• B.Capitalized expenses and Liabilities
• C.Revenue and Income statement
• D.Revenue and corresponding expenses