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Certified Fraud Examiner (CFE) - Investigation Questions and Answers

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Questions # 1:

Fraud examination reports should be written with which of the following audiences in mind?

Options:

The media

Opposing legal counsel

Investors and owners

All of the above

Answer

Questions # 2:

After completing all necessary investigative steps. Erica, a Certified Fraud Examiner (CFE), is reasonably sure that Justine, her primary suspect, committed the fraud in question. Before scheduling an admission-seeking interview with Justine, what else should Erica be reasonably sure of?

Options:

That Justine will confess to the accusation when prompted

That Justine's employer will take disciplinary action against Justine if she confesses

That the interview's time, place, and content can De controlled

That no other person was involved in the fraud n question

Answer

Questions # 3:

If the following statements were included in a fraud examination report of a qualified expert, which of them would be IMPROPER?

Options:

"When asked a second time about the amount of funds missing, the suspect contradicted their previous testimony."

"The evidence shows that between S1 million and S1.5 million in assets were transferred to an offshore account."

"The organization must address the inadequate separation of accounting duties to prevent such an event from happening again."

"In light of all the evidence, the suspect is most likely guilty of fraud against the organization."

Answer

Questions # 4:

Scarlett, a Certified Fraud Examiner (CFE), is conducting an admission-seeking interview of Plum, a fraud suspect. After Scarlett defused Plum's alibis. Plum became withdrawn and slowly began to slouch in her chair, bowing her head. What should Scarlett do now?

Options:

Discourage Plum from showing any emotion.

Remain silent until Plum makes a confession.

Insist that Plum sit up straight in her chair

Continue to display evidence that implicates Plum

Answer

Questions # 5:

Which of the following is a recommended strategy when conducting admission-seeking interviews?

Options:

Increase sympathy while downplaying implications of wrongdoing.

Ensure that accusations are made in the presence of a third party to avoid potential liability

Emphasize a lack of morality in the subject's actions to induce them into confessing.

Use time constraints as a means to pressure the subject into making a confession.

Answer

Questions # 6:

Sarah is conducting an admission-seeking interview of a suspect. Throughout the interview, the suspect makes little eye contact with Sarah. Based on this information atone, can Sarah conclude that the suspect is being deceptive?

Options:

Yes, because it is safe to assume that suspects who avoid eye contact are most likely being deceptive.

Yes, because avoiding eye contact is a sign of deceptive.

No, because this is not enough information to conclude that the suspect is being deceptive

No, because avoiding eye contact is not directly linked to deception.

Answer

Questions # 7:

A fraud examiner is based in Mexico, a non-European Union (EU) country, and is collecting personal information from their company's human resources (HR) files about an employee based in Germany, an EU country. Based on these facts, the fraud examiner would need to comply with the EU"s General Data Protection Regulation (GDPR) when conducting their internal investigation.

Options:

True

False

Answer

Questions # 8:

Which of the following is usually considered the most useful source of financial information available to fraud examiners in tracing a subject's assets?

Options:

Financial institution records

Service bills

Paystubs

Credit card statements

Answer

Questions # 9:

When reporting the results of a fraud examination, it is BEST to include copies (not originals) of important documents in the formal report.

Options:

True

False

Answer

Questions # 10:

Due to risks of illicit transactions, most jurisdictions require financial institutions to obtain information about which of the following from an institution with which they have a foreign correspondent relationship?