[Sep-2021] Pass CFE-Fraud-Prevention-and-Deterrence Exam in First Attempt UpdatedCFE-Fraud-Prevention-and-Deterrence VCE4Dumps Exam Question

Certified Fraud Examiner Dumps CFE-Fraud-Prevention-and-Deterrence Exam for Full Questions - Exam Study Guide

NEW QUESTION 55
The Public Interest Oversight Board (PIOB) is the global body responsible for establishing international corporate governance standards.

• A. False
• B. True

Answer: A

 

NEW QUESTION 56
The internal auditor s fraud-related responsibilities include which of the following?

• A. Attesting that the organization s financial statements are free of material misstatements caused by fraud
• B. Reporting to regulators regarding the entity's vulnerability to fraud
• C. Overseeing managements actions to manage fraud risks
• D. Evaluating whether management is actively retaining responsibility for oversight of the fraud risk management program

Answer: B

 

NEW QUESTION 57
Article II of the ACFE Code of Professional Ethics prohibits illegal or unethical conduct, but it allows exceptions for unknowing violations of the law

• A. False
• B. True

Answer: A

 

NEW QUESTION 58
Julia is conducting a formal assessment of XYZ Corporation s ethical culture To which of the five components of the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Internal Control-Integrated Framework (the Framework) does her assessment pertain?

• A. Control activities
• B. Information and communication
• C. Control environment
• D. Monitoring

Answer: C

 

NEW QUESTION 59
Which of the following statements is FALSE?

• A. Conducting covert audits is among the most effective fraud prevention methods
• B. Controls do little good in preventing theft and fraud if those at risk do not know of their presence
• C. Educating employees about company hotlines and reporting programs increases their perception of detection
• D. Most experts agree that it is harder to detect frauds than to prevent them

Answer: B

 

NEW QUESTION 60
Which of the following is NOT explicitly prohibited by the ACFE Code of Professional Ethics?

• A. Engaging in behavior that is against the law
• B. Drawing conclusions based upon evidence
• C. Participating in an activity where there is an undisclosed conflict of interest
• D. Acting in a way that could be deemed unethical by the industry

Answer: B

 

NEW QUESTION 61
According to modern criminological studies, which of the following is the determinant aspect of white-collar crime'?

• A. Potential legal punishment
• B. Absence of risk factors
• C. Organizational opportunity
• D. Social status

Answer: D

 

NEW QUESTION 62
Which of the following statements is TRUE regarding how fraud examiners should exercise professional skepticism during a fraud examination engagement?

• A. Fraud examiners should form the engagement hypothesis without regard to the available preliminary information
• B. Professional skepticism means beginning all assignments with the belief that something is amiss
• C. Professional skepticism involves maintaining a mindset that no fraud has occurred
• D. Fraud examiners should not relax their skeptical attitudes even if there are no signs of fraudulent activity.

Answer: B

 

NEW QUESTION 63
Sofia, a Certified Fraud Examiner (CFE). look an introductory class in computer forensics When a client thought there might be evidence of a crime on his hard drive. Sofia decided to conduct a forensic examination of the hard drive even though she had no experience or advanced training in this area Sofia's conduct would likely be a violation of the ACFE Code of Professional Ethics

• A. True
• B. False

Answer: A

 

NEW QUESTION 64
Smith, a retail sales manager, wants to decrease the level of cash register over-and-short discrepancies among his sales team. According to behaviorist theories, which of the following options would be the most effective way for Smith to encourage his team members to keep their cash drawers in balance?

• A. Take away an hour of paid time off for each time the drawer is over or short.
• B. Demote employees who continue to have reconciliation discrepancies
• C. Publicly call out and criticize employees whose cash drawers are over or short
• D. Offer a bonus to anyone whose drawer reconciles perfectly for sixty days.

Answer: D

 

NEW QUESTION 65
A report by a fraud examiner is privileged from disclosure by anyone other than the client

• A. True
• B. False

Answer: A

 

NEW QUESTION 66
Which of the following is NOT a way that an organization's fraud risk assessment should be incorporated into the audit process''

• A. It should be used to replace the auditor's own identification and assessment of fraud risks.
• B. It should be used to assess whether there is a moderate-to-high risk of management override of internal controls within the moderate-to-high fraud risk areas
• C. It should be used to increase awareness in the development of audit programs for areas that have been identified as having a moderate-to-high risk of fraud.
• D. It should be used to design audit tests to evaluate whether the controls are operating effectively

Answer: A

 

NEW QUESTION 67
Which of the following statements about the fraud risk assessment process is MOST ACCURATE"?

• A. The fraud risk assessment is most effective when management s influence on the process is limited.
• B. If the individuals conducting the fraud risk assessment truly believe that fraud could not happen at the organization the assessment process should reflect that belief.
• C. The assessment team must be perceived as independent and objective by others for the assessment to be effective
• D. To ensure the independence of the team members a fraud risk assessment must be conducted by a consultant or other external party.

Answer: D

 

NEW QUESTION 68
As part of her audit of ABC Corp . Rachel, a CPA. is identifying the risks of material misstatement due to fraud As part of this task, she should evaluate any unexpected relationships that she identified in performing analytical procedures.

• A. True
• B. False

Answer: A

 

NEW QUESTION 69
In identifying the inherent fraud risks that could apply to the organization the fraud risk assessment team should discuss

• A. All of the above
• B. Risks to the organization's reputation
• C. The organization's incentive programs
• D. The possibility of management override of controls

Answer: A

 

NEW QUESTION 70
Which of the following is among the audit committee s primary responsibilities related to fraud risk management?

• A. Designing the fraud risk management program
• B. Implementing the fraud risk management program
• C. Punishing fraud perpetrators discovered through fraud risk management activities
• D. Understanding how internal and external audit strategies address fraud risk

Answer: A

 

NEW QUESTION 71
According to International Organization for Standardization (ISO) 31000 2018. an organization's risk management program should be proportionate to the organization s specific operations and objectives.

• A. True
• B. False

Answer: A

 

NEW QUESTION 72
Which of the following is NOT one of the three general approaches used to control corporate crime?

• A. Consumer action to force change
• B. Voluntary changes in corporate attitudes and structure
• C. Strong intervention of the government
• D. Media blacklisting of the organization

Answer: B

 

NEW QUESTION 73
International Standard on Auditing (ISA) 240 establishes auditors as being primarily responsible for the prevention and detection of fraud within an organization

• A. False
• B. True

Answer: A

 

NEW QUESTION 74
In the area of criminological theory, compliance is the theory that tries to prevent crime by providing economic incentives for voluntary conformity to the laws and using administrative efforts to control violations before they occur.

• A. True
• B. False

Answer: A

 

NEW QUESTION 75
A corporation can generally be held criminally responsible for criminal acts committed by its employees even if those in management had no knowledge of or participation in the underlying events.

• A. True
• B. False

Answer: A

 

NEW QUESTION 76
Which of the following statements regarding white-collar defendants is TRUE?

• A. They are more likely to be fined than to face prison terms as punishment
• B. The lower the offenders' social status, the more likely they are to be imprisoned
• C. They are less likely to insist on a trial than other offenders
• D. All of the above

Answer: A

 

NEW QUESTION 77
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