Online Access Free CFE-Financial-Transactions-and-Fraud-Schemes Practice Test

Brenda was a cashier at a retail store. When Brenda's friend shopped at the store, she would take her merchandise to Brenda's cash register. Instead of charging her friend, Brenda would record a No-Sale transaction on the register, and her friend would pretend to pay for the merchandise. Brenda's friend would leave the store without paying for the merchandise, and the two would later divide the merchandise between themselves. This scheme can BEST be described as:

• A.A false sale scheme
• B.A skimming scheme
• C.A purchasing and receiving scheme
• D.A register disbursement scheme

John is a salesperson whose job requires him to entertain potential clients frequently. When John and another salesperson from a different company take a potential client to dinner, the other salesperson pays for the meal.
John creates his own receipt for the meal and submits the expense for reimbursement from his company.
John's scheme can BEST be characterized as:

• A.A fictitious expense reimbursement scheme
• B.A mischaracterized expense reimbursement scheme
• C.An overstated expense reimbursement scheme
• D.A multiple reimbursement scheme

Which of the following is an insurance fraud detection tool used for identifying funds fraudulently sent to fictitious payees by using computer-generated reports to compare payments sent to the same location?

• A.Exception reports
• B.Address similarity reports
• C.Electronic confirmations
• D.Duplicate payment lists

Which of the following scenarios is an example of upcoding?

• A.Dr. Catz spends 15 minutes with a patient. She later submits a bill to the patient's insurance company using a code that corresponds to an office visit lasting 60 minutes.
• B.Dr. Smith performed a hysterectomy on Roberta. Dr. Smith submits an insurance claim using three procedure codes instead of the single code normally used for a hysterectomy.
• C.Steven receives medical services prior to his new insurance going into effect. Before submitting the claim, he changes the service date on his bill so that it will be covered by insurance.
• D.Hope is diagnosed with an ear infection. Hope's doctor writes her a prescription for a name brand medication instead of prescribing a less expensive generic medication.

__________ inventory and other assets is a relatively common way for fraudsters to remove assets from the books before or after they are stolen.

• A.False shipping slip
• B.Write-offs
• C.Perpetual
• D.Altered