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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:

SectionObjectives
Financial Crimes- Money Laundering
  • 1. Layering stage
    • 2. Integration stage
      • 3. Placement stage
        - Financial Statement Fraud
        • 1. Revenue manipulation
          • 2. Asset overstatement
            • 3. Expense understatement
              - Corruption Schemes
              • 1. Kickbacks
                • 2. Conflicts of interest
                  • 3. Bribery
                    Fraud Schemes- Asset Misappropriation Schemes
                    • 1. Expense reimbursement fraud
                      • 2. Inventory and asset theft
                        • 3. Cash theft and skimming
                          • 4. Payroll fraud
                            - Fraudulent Disbursements
                            • 1. Check tampering
                              • 2. Billing shell companies
                                • 3. Billing schemes

                                  ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:

                                  1. Which of the following scenarios would be considered a conflict of interest?

                                  A) Annika hires her sister's band to perform at her company's holiday party, but she has informed her employer about the relationship.
                                  B) Dana works for XYZ Printing Services on weekdays and Marigold Cafe on weekends, but she does not tell either employer about the other job.
                                  C) Morgan owns a significant amount of stock in a company she regularly buys her employer's office supplies from, but her employer is aware of this fact.
                                  D) Cindy purchases restaurant supplies for her employer from the company her aunt owns, but she has not informed her employer of the relationship.


                                  2. __________ are the amounts which are owed to other entities:

                                  A) Supplies
                                  B) Expenses
                                  C) Liabilities
                                  D) Assets


                                  3. A company moves its headquarters to another jurisdiction to take advantage of a lower tax rate. The company is MOST LIKELY using which of the following options?

                                  A) A jurisdictional deduction
                                  B) A tax shelter
                                  C) A tax haven
                                  D) A secrecy jurisdiction


                                  4. A fraudster creates a fictitious identity by combining a person's real government identification number with a fabricated name and birthdate. This scheme can BEST be described as:

                                  A) Simulated identity theft
                                  B) Criminal identity theft
                                  C) Synthetic identity theft
                                  D) Traditional identity theft


                                  5. The essential elements of a ________ are an actual or constructive taking away of the goods or property of another without the consent and against the will of the owner and with a felonious intent.

                                  A) Fiduciary
                                  B) Abuse
                                  C) Larceny
                                  D) None of the above


                                  Solutions:

                                  Question # 1
                                  Answer: D
                                  Question # 2
                                  Answer: C
                                  Question # 3
                                  Answer: C
                                  Question # 4
                                  Answer: C
                                  Question # 5
                                  Answer: C

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