Free Access ACFE.CFE-Financial-Transactions-and-Fraud-Schemes.v2022-09-05.q96 Practice Test (Page 20)

Question 91

In which of the following process, all bidders are legally supposed to be placed on the same plane of equality, bidding on the same terms and conditions?

A.Bid solicitation

B.Bid-rigging

C.Kickbacks

D.Competitive bidding

Question 92

Which of the following scenarios does NOT describe a card skimming or shimming scheme?

A.While processing a payment outside of the customer's view, a retail employee uses a small device to scan and record the customer's credit or debit card information.

B.A gadget attached to an ATM is used to fraudulently scan and record customers' credit or debit card information while a small camera records their PINs.

C.When paying for a drink at a vending machine, a customer inserts their credit or debit card into a fraudulent device that scans and records their card information.

D.After processing a customer's payment, a server returns with the receipt but keeps the credit or debit card hoping that the customer does not notice.

Question 93

Which of the following would NOT be helpful in the prevention of expense reimbursement schemes?

A.Requiring all receipts to be submitted electronically

B.Comparing current expenses to budgeted expense amounts

C.Requiring employees to explain the specific business purpose of each expense

D.Comparing current expenses to historical expenditure amounts

Question 94

Which of the following is a FALSE statement regarding check fraud?

A.A check fraud operation can be started with a computer, scanner, and printer.

B.The equipment required to commit check fraud is relatively inexpensive.

C.Check fraud is considered very risk due to the high likelihood of prosecution.

D.The penalties for committing check fraud tend to be relatively mild.

Question 95

Organizations that had external audits actually had higher median losses and longer lasting fraud schemes than those organizations that were not audited.

A.True

B.False

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Question 91

Question 92

Question 93

Question 94

Question 95

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