Weekend Special Limited Time 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code = simple70

Pass the ACFE Certified Fraud Examiner CFE-Fraud-Prevention-and-Deterrence Questions and answers with ExamsMirror

Practice at least 50% of the questions to maximize your chances of passing.

Exam CFE-Fraud-Prevention-and-Deterrence Premium Access

View all detail and faqs for the CFE-Fraud-Prevention-and-Deterrence exam

Go to Exam

489 Students Passed

89% Average Score

96% Same Questions

Viewing page 1 out of 8 pages

Viewing questions 1-10 out of questions

Questions # 1:

Harry is an internal auditor with ABC Company. Harry's supervisor, the chief audit executive (CAE), is the fraud risk assessment sponsor and has tasked Harry with drafting an email communication regarding ABC's upcoming fraud risk assessment process. Which of the following is a best practice that Harry should implement?

Options:

Harry should keep the communication private and only share it with executive management.

Harry's communication should encourage employees to participate in the assessment process.

Harry should find a generic template to use as the primary communication to the entire staff.

Harry's communication should be sent to the entire staff from his own email address.

Questions # 2:

Management at ABC Corp. is assessing the company's ethical tone and how it affects the organization's fraud risk. To most effectively reinforce an anti-fraud culture, management should:

Options:

Use a checklist of initiatives to make sure all the elements of a strong tone at the top are in place

Create an environment in which employees feel safe challenging management's decisions

implement two separate sets of ethics policies, one for management and one for employees

All of the above

Questions # 3:

An effective system of anti-fraud controls

Options:

Fully eliminates the risk of fraud

Focuses more on detective controls than preventive controls

Focuses more on preventive controls than detective controls

Increases the perception that fraud will be detected

Questions # 4:

To reinforce an anti-fraud culture, it is BEST for an organization's management to:

Options:

Use a checklist of initiatives to ensure that all the elements of a strong corporate culture are in place.

Require senior leaders to follow the same ethics policies that are in place for all staff-level employees.

Discourage employees from questioning their immediate supervisor's actions or decisions if they have concerns.

Discipline any employees who publicly express their frustration regarding organizational policies.

Questions # 5:

Which of the following is FALSE regarding the fraud risk assessment learn?

Options:

The team members should have experience in gathering and eliciting information

The team members might include both internal and external sources.

The team size should be limited to a maximum of three individuals

The team should consist of individuals with diverse knowledge, skills, and perspectives

Questions # 6:

Which of the following is FALSE regarding a background check policy for employees?

Options:

When verifying past employment, management should only ask previous employers to verify the dates the candidate was employed.

At a minimum, management should conduct a background check on any candidate who will have constant access to cash, checks, and credit card numbers, or other easily stolen items.

Where permitted by law, management should run a background check on any existing employee who is being promoted to a position that includes access to sensitive or valuable company resources, even if a background check was run on the individual at the time of hire

As part of the screening process, management should contact the references provided by the job candidate.

Questions # 7:

Which of the following is TRUE regarding a background check policy for employees?

Options:

When verifying past employment, management should only ask previous employers to verify the candidate's previous position and dates of employment.

If a background check was conducted on an employee at the time of hire, then there is no need for management to conduct additional background checks on that employee during their employment.

As part of the screening process, management should contact the personal and professional references provided by the job candidate only if they are unsure whether the candidate is being honest.

Management should perform a background check on any candidate who will have access to cash, checks, credit card numbers, or other items that are easily stolen.

Questions # 8:

According to the 2020 Report to the Nations, which of the following is the MOST COMMON method by which frauds are detected?

Options:

Internal audit

Confession

Tips

External audit

Questions # 9:

Which of the following components of the Committee of Sponsoring Organizations of the Treadway Commission’s (COSO) Enterprise Risk Management—Integrating with Strategy and Performance refers to an organization’s ability to continually assess how well its enterprise risk management (ERM) capabilities and practices have increased value over time and how they will continue to drive value for the organization?

Options:

Risk tolerance

Governance and culture

Strategy and objective-setting

Review and revision

Questions # 10:

Grace, a Certified Fraud Examiner (CFE), has accepted her first fraud examination engagement. Before beginning the investigation, she reviews the ACFE Code of Professional Ethics to ensure that her behavior will comply with the Code. Which of the following actions is explicitly prohibited by the ACFE Code of Professional Ethics?