Free CFE-Fraud-Prevention-and-Deterrence Exam Study Guide for the NEW [Mar-2024] Dumps Test Engine
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The CFE-Fraud-Prevention-and-Deterrence certification is an essential credential for professionals seeking to enhance their skills and knowledge in the field of fraud prevention and deterrence. It provides individuals with the necessary tools and techniques to effectively identify and prevent fraud in their organizations, and demonstrates their commitment to ethical and professional standards in the fight against fraud.
The Association of Certified Fraud Examiners (ACFE) is a professional organization that certifies individuals who are experts in the field of detecting and preventing fraud. The Certified Fraud Examiner - Fraud Prevention and Deterrence (CFE-Fraud-Prevention-and-Deterrence) exam is one of the certifications offered by ACFE. Certified Fraud Examiner - Fraud Prevention and Deterrence Exam certification is designed for professionals who work in fraud prevention and detection, as well as those who want to enhance their skills in these areas.
NEW QUESTION # 19
In response to an employee's failure to meet performance expectations, a manager demotes the employee to a junior-level position. This is an example of what type of behavioral response?
- A. None of the above
- B. Negative reinforcement
- C. Punishment
- D. Positive reinforcement
Answer: C
NEW QUESTION # 20
Which of the following criminological theories asserts that the three elements that have the most influence on crime are the availability of suitable targets, absence of capable guardians, and presence of motivated offenders?
- A. Routine activities theory
- B. Differential association theory
- C. Rational choice theory
- D. Social control theory
Answer: C
NEW QUESTION # 21
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.
- A. True
- B. False
Answer: A
NEW QUESTION # 22
Consistently punishing perpetrators can be an effective fraud prevention mechanism
- A. True
- B. False
Answer: A
NEW QUESTION # 23
Risk management is focused on balancing the organization's___________with Its____________.
- A. Objectives; resources
- B. Regulatory requirements, risk appetite
- C. Risk appetite, ability to meet its objectives
- D. Internal controls; financial reporting model
Answer: C
NEW QUESTION # 24
Which of the following is one of the components of the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Enterprise Risk Management-Integrating with Strategy and Performance?
- A. Compliance
- B. Event avoidance
- C. Review and revision
- D. Risk tolerance
Answer: A
NEW QUESTION # 25
In response to a risk identified during a fraud risk assessment, management decides to purchase fidelity insurance to help protect the company against the associated risk of loss This response is known as:
- A. Transferring the risk
- B. Assuming the risk
- C. Mitigating the risk
- D. Avoiding the risk
Answer: A
NEW QUESTION # 26
Open-door management policies are a fraud prevention mechanism that addresses which leg of the Fraud Triangle?
- A. Opportunity
- B. Lack of integrity
- C. Pressure
- D. Willingness
Answer: A
NEW QUESTION # 27
Employee anti-fraud education should:
- A. Include examples of prior employee misconduct and how those situations were handled
- B. Include descriptions of the procedures that management uses to detect fraud.
- C. Be presented by organizational executives or anti-fraud professionals only
- D. Be restricted to formal educational mechanisms to reinforce the importance of the message
Answer: A
NEW QUESTION # 28
Which of the following is NOT a responsibility of the organization s board of directors?
- A. Managing the performance of employees charged with carrying out business activities
- B. Assessing the strategy and underlying purpose of management's decisions and actions
- C. Serving as the middlemen between shareholders and management
- D. Acting as guardians of the organization s resources and assets
Answer: C
NEW QUESTION # 29
Criminologist Charles McCaghy has stated that regulatory pressure is the single most compelling factor behind deviance by organizations.
- A. False
- B. True
Answer: A
NEW QUESTION # 30
Green, a Certified Fraud Examiner (CFE). had an ethical dilemma regarding her business contract with her professional partners. Which of the following sources of guidance would be considered the lowest level of reference to help Green in determining the most ethical course of action?
- A. Contract law
- B. Philosophical principles related to ethics
- C. Guidance from her family and friends
- D. The ACFE Code of Professional Ethics
Answer: A
NEW QUESTION # 31
Which of the following is one of the components of the Committee of Sponsoring Organizations of the Treactway Commission's (COSO) Enterprise Risk Management-Integrating with Strategy and Performance?
- A. Event avoidance
- B. Review and revision
- C. Risk tolerance
- D. Compliance
Answer: C
NEW QUESTION # 32
Management at ABC Corp. is assessing the company's ethical tone and how it affects the organization's fraud risk. To MOST EFFECTIVELY reinforce an anti-fraud culture, management should:
- A. Visibly adhere to the same set of ethics policies that is required of all employees
- B. Create an environment in which employees are dissuaded from challenging management's decisions
- C. All of the above
- D. Use a checklist of initiatives to make sure all the elements of a strong tone at the lop are in place
Answer: A
NEW QUESTION # 33
To address an employee's consistent failure to meet deadlines, a manager removes the employee's ability to work from home This is an example of what type of behavioral response?
- A. None of the above
- B. Negative reinforcement
- C. Punishment
- D. Positive reinforcement
Answer: C
NEW QUESTION # 34
Which of the following is one of the recommendations made by the National Commission on Fraudulent Financial Reporting (the Treadway Commission) to reduce the probability of fraud in financial reports?
- A. A mandatory independent compensation committee
- B. Shareholder oversight of internal controls
- C. A written charter for management
- D. Adequate audit committee resources and authority
Answer: D
NEW QUESTION # 35
Which of the following is NOT one of the three general approaches used to control corporate crime?
- A. Media blacklisting of the organization
- B. Voluntary changes in corporate attitudes and structure
- C. Strong intervention of the government
- D. Consumer action to force change
Answer: A
NEW QUESTION # 36
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines_____________as
"a process, effected by an entity s board of directors management.
and other personnel designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance."
- A. Internal control
- B. Corporate compliance
- C. Risk assessment
- D. Fraud risk management
Answer: A
NEW QUESTION # 37
Which of the following is TRUE regarding the reporting of the fraud risk assessment results7
- A. All of the above
- B. The fraud risk assessment report should contain a detailed, comprehensive list of every assessment finding
- C. A fraud risk assessment report should reflect the assessment team's subjective perspective regarding the risks identified
- D. The fraud risk assessment report should be delivered in a style most suited to the language of the business
Answer: A
NEW QUESTION # 38
Which of the following statements is FALSE?
- A. Educating employees about company hotlines and reporting programs increases their perception of detection
- B. Controls do little good in preventing theft and fraud if those at risk do not know of their presence
- C. Conducting covert audits is among the most effective fraud prevention methods
- D. Most experts agree that it is harder to detect frauds than to prevent them
Answer: B
NEW QUESTION # 39
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