Online Access Free CFE Practice Test

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

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

Bank cut-off statements should be requested for 10-15 days after the closing date of the balance sheet.

• A.False
• B.True

Employees steal an incoming payment and then place the incoming funds in an interest bearing account for:

• A.Concealing the fraud
• B.Converting stolen checks
• C.Short-term skimming
• D.All of the above

Which of the following search is used for unusually high incidence of returns and allowances scheme?

• A.Allowances by vendors
• B.None of the above
• C.Disposals of allowances than reorders
• D.Returns and allowances

False billing scheme states that:

• A.employees cause their company to sale merchandise that the company does not need.
• B.employees cause their company to purchase merchandise that the company does not need
• C.employees do not cause their company to sale merchandise that the company does not need.
• D.employees do not cause their company to purchase merchandise that the company does not need.