Free Access ACFE.CFE-Financial-Transactions-and-Fraud-Schemes.v2022-09-05.q96 Practice Test (Page 15)

Question 66

Collusion or bid-rigging between bidders is called

A.To withdraw low bids

B.Bribery receipt

C.Contract acceptance

D.Bid solicitation

Question 67

Which of the following is MOST ACCURATE concerning common methods that identity thieves use to steal information?

A.Vishing involves using an imitation website to trick targets into revealing personal or business information.

B.Stealing a credit card number by watching someone enter it on a computer is an example of shoulder surfing.

C.Searching for sensitive personal information on used mobile phones purchased from a reseller is an example of dumpster diving.

D.Baiting is defined as the practice of manipulating people into revealing personal or business information.

Question 68

Because sales skimming is an off-book fraud scheme, it is unlikely to be detected by reconciling the sales records to the cash receipts.

A.True

B.False

Question 69

According to accounting principles, ________ and ________ should be recorded or atched in the same accounting period; failing to do so violates the matching principle of AAP.

A.Income statement and Long-term contracts

B.Capitalized expenses and Liabilities

C.Revenue and Income statement

D.Revenue and corresponding expenses

Question 70

Which of the following statements regarding new account fraud is MOST ACCURATE?

A.Mobile deposits are at high risk for new account fraud because face-to-face transactions are not required.

B.Automated teller machines (ATMs) are rarely targets of new account fraud because most have cameras installed.

C.Fraud is more likely to occur in established accounts than in accounts that have been newly opened.

D.New account fraud can be defined as any fraud that occurs on an account within the first year that it is open.

Other Version: 812ACFE.CFE-Financial-Transactions-and-Fraud-Schemes.v2024-09-23.q88; 1208ACFE.CFE-Financial-Transactions-and-Fraud-Schemes.v2022-02-26.q52

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Question 66

Question 67

Question 68

Question 69

Question 70

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