Title: ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam Practice Test Questions U [Print This Page] Author: ianlee245 Time: yesterday 20:55 Title: ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam Practice Test Questions U Our CFE-Financial-Transactions-and-Fraud-Schemes guide questions have the most authoritative test counseling platform, and each topic in CFE-Financial-Transactions-and-Fraud-Schemes practice engine is carefully written by experts who are engaged in researching in the field of professional qualification exams all the year round. They have a very keen sense of change in the direction of the exam, so that they can accurately grasp the important points of the CFE-Financial-Transactions-and-Fraud-Schemes Exam. And you will pass the exam for the CFE-Financial-Transactions-and-Fraud-Schemes exam questions are all keypoints.
ACFE CFE-Financial-Transactions-and-Fraud-Schemes Certification Exam is a valuable and highly respected certification that can help professionals advance their careers and demonstrate their expertise in financial fraud. It covers a range of topics related to financial fraud and requires a high level of knowledge and preparation to pass. However, the ACFE provides ample resources to help candidates prepare, and those who hold the certification are well-positioned for success in their careers.
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Which of the following is NOT a measure commonly taken by fraudsters during account takeover schemes?
A. Avoid accessing multiple payment accounts with the same stolen log-in credentials.
B. Change account contact information to avoid alerting the true account holder.
C. Place orders for products or transfer funds from the overtaken accounts.
D. Obtain email addresses and other account log-in information using phishing emails.
Answer: B
NEW QUESTION # 143
Which of the following statements describes a best practice for preventing contract and procurement fraud?
A. Companies should conduct background checks on all vendors before they are added to the vendor master file.
B. Companies should have vendor-monitoring procedures that address the red flags of all vendor schemes.
C. Companies should permit the person who maintains the vendor master file to also have authority to approve payments for invoices.
D. Companies should restrict the monitoring of their procurement activities to once a year to ensure comparability from year to year.
Answer: A
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Conducting vendor background checks before adding them to the master file is a strong preventive control against shell companies, conflicts of interest, and vendor collusion. It helps ensure vendor legitimacy before business begins.
* Analysis of Incorrect Options:
* B - Too broad; monitoring should focus on practical red flags, not "all schemes."
* C - Violates segregation of duties, increasing fraud risk.
* D - Monitoring should be ongoing, not limited to once a year.
* Key Concept: Procurement fraud prevention through vendor due diligence and segregation of duties.
Reference: ACFE Manual, Corruption - Contract and Procurement Fraud Controls.
NEW QUESTION # 144
Which of the following actions can make mobile payments more secure?
A. None of the above
B. Using the same log-in credentials for all payment applications
C. Disabling the biometric features on a newer mobile device
D. Activating biometric authentication to verify the user's identity
Answer: D
Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Biometric authentication (e.g., fingerprint, facial recognition) strengthens payment security by ensuring that only the authorized user can approve transactions, reducing the risk of unauthorized access even if credentials are stolen.
* Analysis of Incorrect Options:
* A - Using the same credentials increases exposure to credential-stuffing attacks.
* C - Disabling biometrics weakens, not strengthens, security.
* D - Incorrect since B is valid.
* Key Concept: Cyberfraud prevention - authentication and mobile payment controls.
Reference: ACFE Manual, Fraud Prevention and Deterrence - Cybersecurity Measures.
NEW QUESTION # 145
Which of the following is NOT a method for stealing inventory and other assets?
A. Asset requisition and transfer
B. Purchasing and receiving schemes
C. Sales & Equipment handling
D. Larceny schemes
Answer: C
Explanation:
Detailed Explanation:
* Rationale for Correct Answer:Recognized schemes for stealing inventory include:
* Larceny schemes (direct theft)
* Asset requisition and transfer schemes (false requisitions to divert assets)
* Purchasing and receiving schemes (over-ordering or falsifying deliveries).
"Sales & Equipment handling" is not a defined fraud scheme, making D correct.
* Analysis of Incorrect Options:
* A. Larceny schemes - Valid theft method.
* B. Asset requisition and transfer - Document manipulation method.
* C. Purchasing and receiving schemes - Valid misappropriation scheme.
* Key Concept:Inventory theft schemes under the Fraud Tree.
Reference:ACFE Fraud Examiners Manual (2020 International Edition), Inventory and Other Assets - Theft Schemes.
NEW QUESTION # 146
Which of the following is an example of a technical security control that organizations can use to secure computer systems and communication networks?
NEW QUESTION # 147
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