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ACFE CFE-Financial-Transactions-and-Fraud-Schemes Questions Boost Your Exam Preparation 2025
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The CFE-Financial-Transactions-and-Fraud-Schemes Certification Exam is a computer-based exam that consists of 125 multiple-choice questions. CFE-Financial-Transactions-and-Fraud-Schemes exam is administered at Pearson VUE testing centers worldwide, and candidates have four hours to complete it. CFE-Financial-Transactions-and-Fraud-Schemes exam is challenging, and candidates are required to demonstrate a high level of knowledge in order to pass. However, the ACFE provides a wealth of resources to help candidates prepare, including study materials, online courses, and review courses.
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ACFE CFE-Financial-Transactions-and-Fraud-Schemes Certification Exam is an essential credential for professionals involved in the prevention, detection, and investigation of financial fraud. It covers a broad range of topics related to financial fraud and is suitable for individuals with experience in the field, as well as those who are new to the industry. Passing the exam demonstrates a high level of expertise in detecting and preventing financial fraud, making it a valuable asset for professionals in any industry.
ACFE Certified Fraud Examiner - Financial Transactions and Fraud Schemes Exam Sample Questions (Q103-Q108):
NEW QUESTION # 103
_________ normally are carried on an organization's books as expenses because they tend to be consumed by the organization within a year of purchase.
- A. Expenses
- B. Equity
- C. Supplies
- D. Assets
Answer: C
NEW QUESTION # 104
Mario performs surgery on a patient to replace a bone. The surgery should be billed using one code, but Mario bills the surgery using three codes (one for the entire surgery, one for the removal of the bone, and another for the insertion of the artificial bone), which increases the cost. Which of the following BEST describes Mario's scheme?
- A. Upcoding
- B. Unbundling
- C. Fictitious services
- D. False diagnosis
Answer: B
Explanation:
Detailed Explanation:
* Rationale for Correct Answer:This is unbundling, where services that should be billed under a single comprehensive code are split into multiple components to inflate reimbursement.
* Analysis of Incorrect Options:
* A. Fictitious services - Charging for services not performed.
* B. False diagnosis - Fabricating diagnoses to justify billing.
* C. Upcoding - Billing for more expensive services than provided.
* Key Concept: Health care billing fraud - unbundling.
Reference: ACFE Fraud Examiners Manual (2020), Fraudulent Disbursements: Health Care Billing Schemes
.
NEW QUESTION # 105
Employees with the authority to grant discounts in order to skim revenues may use which authority?
- A. Recording a discount on sale procedure
- B. None of the above
- C. Internal discount sales audits
- D. False discounts
Answer: D
Explanation:
Detailed Explanation:
* Rationale for Correct Answer:Employees authorized to grant discounts may exploit this by issuing false discounts. They pocket part of the customer's payment while recording a reduced sale amount, making the books appear balanced.
* Analysis of Incorrect Options:
* B. Recording a discount on sale procedure - A legitimate process, not fraud.
* C. Internal discount sales audits - A control, not a scheme.
* D. None of the above - Incorrect since false discounts are a recognized method.
* Key Concept:False discount schemes as a skimming method.
Reference:ACFE Fraud Examiners Manual (2020 International Edition), Cash Receipts - Skimming through Discounts and Write-offs.
NEW QUESTION # 106
Which of the following is a recommended method for safeguarding an organization's proprietary information?
- A. Classifying data into categories according to value and sensitivity levels
- B. Changing locks and reprogramming door access codes every three to five years
- C. Mandating that all employees sign noncompetition agreements
- D. Requiring employees to take notes and keep drafts related to confidential projects
Answer: A
NEW QUESTION # 107
Which of the four basic measures, if properly installed and implemented may help prevent inventory fraud?
- A. Proper documentation, physical padding, independent checks and physical safeguards
- B. Proper documentation, segregation of duties, independent checks and physical safeguards
- C. Proper documentation, segregation of duties, independent checks and inventory control
- D. prenumbered affiliations, segregation of duties, independent checks and physical safeguards
Answer: B
NEW QUESTION # 108
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