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Reference: https://www.acfe.com/details-exam-preparation.aspx
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ACFE Certified Fraud Examiner - Fraud Prevention and Deterrence Sample Questions:
Which of the following options is BEST classified as a type of external fraud risk?
- A. Embezzling customer payments.
- B. Collusion between contractors.
- C. Reporting revenue in the wrong period.
- D. Adding ghost employees to payroll.
Correct Answer: B 🗳️
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Which of the following steps should be incorporated into an organization's fraud risk assessment strategy to ensure the effectiveness of the fraud risk assessment?
- A. Determine the ideal number of fraud response protocols that the organization should implement.
- B. Identify and reward the people and departments that are least likely to commit fraud.
- C. Assess the significance of each inherent fraud risk to the organization.
- D. Solicit stakeholder input to quantify the organization's greatest fraud risks and total fraud losses.
Correct Answer: C 🗳️
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Which of the following statements BEST describes the objectives of a fraud risk management program?
- A. A fraud risk management program should prioritize activities that detect fraud while it is occurring over activities that proactively identify and assess fraud risks.
- B. A fraud risk management program should include formal procedures for management to take in response to fraud, such as remediating control weaknesses.
- C. A fraud risk management program should solely focus on the formal procedures that management should take to address fraud before it occurs rather than after it occurs.
- D. A fraud risk management program should incorporate policies and procedures designed to both prevent and detect fraud but should not address fraud responses.
Correct Answer: B 🗳️
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Which of the following is the MOST EFFECTIVE way for management to respond to incidents of fraud within an organization?
- A. Maintaining a policy that allows employees one warning before they are terminated for committing fraud
- B. Punishing frauds only if they have a significant financial impact.
- C. Emphasizing to all employees that the company maintains a policy of zero tolerance for fraud.
- D. Keeping all known incidents of fraud private to protect the identities of parties involved.
Correct Answer: C 🗳️
Which of the following criminological theories states that individuals make a conscious decision to commit a crime and that crime can be deterred by reducing opportunities for criminal activity and increasing an individual ' s personal risk of being caught and punished?
- A. Social conflict theory
- B. Routine activities theory
- C. Rational choice theory
- D. Differential association theory
Correct Answer: C 🗳️
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