Certified Fraud Examiner - Financial Transactions and Fraud Schemes

Here you have the best ACFE CFE - Financial Transactions and Fraud Schemes practice exam questions

You have 51 total questions to study from
Each page has 5 questions, making a total of 11 pages
You can navigate through the pages using the buttons at the bottom
This questions were last updated on May 10, 2025
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Question 1 of 51

Which of the following is a red flag that might indicate the existence of a need recognition scheme?

The purchasing entity’s materials are being ordered at the optimal reorder point.

The purchasing entity has a large list of backup suppliers.

The purchasing entity has unusually high requirements for stock and inventory levels.

The purchasing entity has few surplus items written off as scrap.

Correct Answer: C

Question 2 of 51

Which of the following is NOT a distinguishing feature of a Ponzi scheme?

Participants attempt to recruit as many new members as possible.

Previous investors are paid with money from new members.

Participants believe that they are making a legitimate investment.

Promoters of Ponzi schemes engage in little or no valid commerce or investments.

Correct Answer: B

Question 3 of 51

Geoffrey, a homeowner, has decided to add a patio to the back of his house. Geoffrey hires a contractor who insists on receiving payment up front so that he can pay for the materials required to complete the construction. The following week, Geoffrey is surprised to learn that the contractor has not arrived and is not answering his phone calls. Geoffrey has MOST LIKELY been victimized by which of the following frauds?

Deposit scheme

Scavenger scheme

Block hustle scheme

Advance-fee scheme

Correct Answer: D

Question 4 of 51

Which of the following is FALSE concerning methods corporate spies generally use to steal information from other organizations?

Spies often create counterfeit employee badges to gain entrance into a target company.

Spies often gain direct access to a target company by obtaining employment as a security officer or a member of the janitorial crew.

When spies use technical surveillance to obtain information about target companies, they gather documentary evidence that can be found through open sources.

When spies use social engineering, they manipulate people into handing over secret information through the use of trickery, persuasion, threats, or cajolery.

Correct Answer: A

Question 5 of 51

Which of the following is NOT one of the information security goals that should be achieved to secure an e-commerce system for uses and account holders?

Availability of data

Materiality of data

Confidentiality of data

Integrity of data

Correct Answer: B