Free Access ACFE.CFE-Fraud-Prevention.v2026-06-05.q99 Practice Test (Page 5)

Question 16

Which of the following is TRUE regarding International Standard on Auditing (ISA) 240?

A.ISA 240 creates requirements for the board of directors regarding the establishment of a holistic fraud risk management program.

B.ISA 240 provides guidance regarding the auditor's responsibility to consider fraud in an audit of financial statements.

C.ISA 240 requires auditors to effectively educate the staff about the risk of fraud within the audited organization.

D.ISA 240 establishes auditors as being primarily responsible for implementing anti-fraud internal controls within an organization.

Question 17

Beezie, a Certified Fraud Examiner (CFE), took an introductory class in computer forensics.
When a client thought there might be evidence of a crime on their computer, Beezie decided to conduct a forensic examination of the computer even though she had no experience or advanced training in this area. Which of the following is TRUE regarding Beezie's conduct?

A.Beezie's conduct would be a violation of the ACFE Code of Professional Ethics only if she also violated the law.

B.Beezie's conduct would be a violation of the ACFE Code of Professional Ethics.

C.Beezie's conduct would be a violation of the ACFE Code of Professional Ethics only if she did not find the fraudster.

D.Beezie's conduct would not be a violation of the ACFE Code of Professional Ethics.

Question 18

Which of the following Is FALSE regarding proactive fraud auditing procedures?

A.Fraud audit procedures should be designed to incorporate an element of surprise

B.Analytical review of the financial statements is best used to uncover small frauds that might be missed by other detection methods

C.Fraud assessment questioning techniques are most appropriately used as part of the normal audit process

D.Implementing proactive fraud audit procedures demonstrates management's intention to aggressively look for possible fraudulent conduct

Question 19

Baldwin, a Certified Fraud Examiner (CFE), has an ethical dilemma regarding his business contract with his professional partners. Which of the following scenarios demonstrates Baldwin consulting a source of guidance that would be considered the LOWEST level of reference to use for determining the most ethical action to take?

A.Baldwin reviewing the ACFE Code of Professional Ethics.

B.Baldwin reading the applicable contract law.

C.Baldwin contemplating philosophical principles related to ethics.

D.Baldwin asking for guidance from his family and friends.

Question 20

A report by a fraud examiner is privileged from disclosure by anyone other than the client.

A.True

B.False

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Question 16

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Question 18

Question 19

Question 20

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