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Certified Financial Examiner (CFE) Questions 56–60 (page: 13)

Updated On: 9-Feb-2026

The prime targets for skimming schemes which are hard to monitor and predict such as late fees and parking fees, are:

  1. Revenue sources
  2. Recorded sales
  3. Internal audits
  4. Register manipulations

Answer(s): A



What can make it easy for an employee to skim sales or receivables?

  1. Revenue sources and recording procedures
  2. Poor collection and recording procedures
  3. Internal audits and recording procedures
  4. Register manipulations and recording procedures

Answer(s): B



Entering a sales total lower than the amount actually paid by the customer is called:

  1. Underrings a sale
  2. Recording a sale procedure
  3. Internal sales audits
  4. All of the above

Answer(s): A



Employees with the authority to grant discounts in order to skim revenues may use which authority?

  1. False discounts
  2. Recording a discount on sale procedure
  3. Internal discount sales audits
  4. None of the above

Answer(s): A



Theft of incoming checks usually occurs when ________ is (are) in charge of opening the mail and recording the receipt of payments.

  1. Single employee
  2. Two employees
  3. More then two employees
  4. None of the above

Answer(s): A



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