Online Access Free ACFE.CFE.v2022-01-05.q135 Practice Test (Page 7)

CFE Exam Question 26

Verify supporting documentation on outstanding checks written for a material amount is a test used to conduct for:

A.Check disbursement

B.Bank confirmation

C.Bank confirmation

D.Cut-off statements

CFE Exam Question 27

People commit financial statement fraud to:

A.Conceal false business performances

B.Preserve personal status/control

C.Maintain personal income

D.Stand outside the accounting system

CFE Exam Question 28

Another way to eliminate competition in the solicitation phase of the selection process is to:

A.Solicit bid from fictitious suppliers

B.Solicit transaction from fictitious vendors

C.Solicit bid-splitting from fictitious vendors

D.None of the above

CFE Exam Question 29

Bid-rigging scheme occurs when:

A.an employee fraudulently assists a vendor in winning a contract through the competitive bidding process.

B.an employee once assists a vendor in winning a contract through a single competitive bidding process.

C.an employee once assists a vendor in winning a contract through a single competitive bidding process.

D.an employee does not assist a vendor in winning a contract through the competitive bidding process.

CFE Exam Question 30

The excess credits (or debits) on the income statement are used to decrease (or increase) the equity account.

A.False

B.True

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