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ACFE CFE - Fraud Prevention Exam
Certified Fraudiner - Fraud Prevention (Page 5 )

Updated On: 9-Feb-2026
Page 5 of 30
PDF with 256 Questions

While, a Certified Fraud Examiner (CFE). was hired to conduct a fraud examination She did not find fraud, but. In White's opinion, there were several internal control deficiencies that, if not remediated, could facilitate the occurrence of fraud Under the ACFE Code of Professional Ethics.
White may include her opinion on the controls in her report to management.

  1. True
  2. False

Answer(s): A



Which of the following is NOT one of the three general approaches used to control corporate crime?

  1. Withdrawal of financial institution funding
  2. Strong intervention of the government
  3. Consumer action to force change
  4. Voluntary changes in corporate attitudes and structure

Answer(s): A



XYZ, Inc. Is a specialty retailer of high-end ergonomic office furniture. The company receives a very large order from ABC Company, a new customer in a different country that wants to pay on credit.
Which of the following is MOST ACCURATE regarding the due diligence procedures XYZ should perform on ABC before proceeding with this transaction?

  1. XYZ only needs to undertake due diligence procedures if ABC conducts business in countries with known corruption risks.
  2. XYZ does not need to take any specific procedures to verify ABC's identity before accepting the transaction
  3. XYZ should examine ABC's net worth as part of deciding whether to allow the purchase on credit.
  4. XYZ should perform the same level of due diligence as it would for any other customer to avoid claims of discrimination

Answer(s): D



The objective of anti-fraud controls is to:

  1. Completely eliminate inherent fraud risk.
  2. Reduce the inherent fraud risk to a level that is significantly smaller than the residual fraud risk.
  3. Completely eliminate residual fraud risk
  4. Reduce the residual fraud risk to a level that is significantly smaller than the inherent fraud risk

Answer(s): D



Which of the following is FALSE regarding the fraud risk assessment learn?

  1. The team members should have experience in gathering and eliciting information
  2. The team members might include both internal and external sources.
  3. The team size should be limited to a maximum of three individuals
  4. The team should consist of individuals with diverse knowledge, skills, and perspectives

Answer(s): C






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