Question 1

The word "con," which means to deceive, comes from the word:

Accepted Answer

A)  Contract. 
B)  Conserve. 
C)  Confuse. 
D)  Confidence. 
A)  Contract. 
B)  Conserve. 
C)  Confuse. 
D)  Confidence.

Question 2

What is required to prove fraud, as opposed to negligence?

Accepted Answer

A)  Gross error 
B)  Intent 
C)  Preponderance of the evidence 
D)  Confession from the perpetrator 
A)  Gross error 
B)  Intent 
C)  Preponderance of the evidence 
D)  Confession from the perpetrator

Question 3

The GDP in the economy of Ponziland was $5 billion in the year prior to the frauds (Year 1). The economy was growing at 4 percent. Frauds during the year reduce aggregate income by $200 million. During the year, the economy has:

Accepted Answer

A)  shrunk by 1 percent. 
B)  grown by only 1 percent. 
C)  remained flat. 
D)  grown by 4 percent. 
A)  shrunk by 1 percent. 
B)  grown by only 1 percent. 
C)  remained flat. 
D)  grown by 4 percent.

Question 4

Who are the primary victims of financial statement fraud?

Accepted Answer

A)  Middle management 
B)  Organizations that buy goods or services 
C)  Analysts 
D)  Stockholders 
A)  Middle management 
B)  Organizations that buy goods or services 
C)  Analysts 
D)  Stockholders

Question 5

Which of the following skills would be LEAST beneficial in a career as a fraud-fighting professional?

Accepted Answer

A)  Analytical skills 
B)  Mechanical skills 
C)  Communication skills 
D)  Technological skills 
A)  Analytical skills 
B)  Mechanical skills 
C)  Communication skills 
D)  Technological skills

Question 6

Given below are the profit margins and fraud-related losses of four economies. Which economy will have to generate the maximum dollar amount of additional revenues to recover the loss to aggregate income? Economy A: 10%, $225 million Economy B: 10%, $150 million Economy C: 5%, $100 million Economy D: 2%, $50 million

Accepted Answer

A)  Economy A 
B)  Economy D 
C)  Economy C 
D)  Economy B 
A)  Economy A 
B)  Economy D 
C)  Economy C 
D)  Economy B

Question 7

Which of the following statements regarding civil law is correct?

Accepted Answer

A)  When fraud is committed, criminal prosecution usually proceeds before civil prosecution. 
B)  Civil law is the body of law that provides remedies for crimes against society. 
C)  Civil cases must be heard by 12 jurors. 
D)  In a civil case, the verdict of the jury must be unanimous. 
A)  When fraud is committed, criminal prosecution usually proceeds before civil prosecution. 
B)  Civil law is the body of law that provides remedies for crimes against society. 
C)  Civil cases must be heard by 12 jurors. 
D)  In a civil case, the verdict of the jury must be unanimous.

Question 8

Fraud in companies such as WorldCom, Enron, Waste Management, Sunbeam, Rite-Aid, Phar-Mor, and Parmalat are examples of:

Accepted Answer

A)  customer fraud. 
B)  investment scams. 
C)  vendor fraud. 
D)  management fraud. 
A)  customer fraud. 
B)  investment scams. 
C)  vendor fraud. 
D)  management fraud.

Question 9

The most common fraud committed on behalf of an organization is:

Accepted Answer

A)  vendor fraud. 
B)  employee embezzlement. 
C)  fraudulent financial reporting. 
D)  customer fraud. 
A)  vendor fraud. 
B)  employee embezzlement. 
C)  fraudulent financial reporting. 
D)  customer fraud.

Question 10

Which of the following frauds is usually the most expensive?

Accepted Answer

A)  Vendor fraud 
B)  Customer fraud 
C)  Occupational fraud 
D)  Management (financial statement) fraud 
A)  Vendor fraud 
B)  Customer fraud 
C)  Occupational fraud 
D)  Management (financial statement) fraud

The word "con," which means to deceive, comes from the word:

What is required to prove fraud, as opposed to negligence?

The GDP in the economy of Ponziland was $5 billion in the year prior to the frauds (Year 1). The economy was growing at 4 percent. Frauds during the year reduce aggregate income by $200 million. During the year, the economy has:

Who are the primary victims of financial statement fraud?

Which of the following skills would be LEAST beneficial in a career as a fraud-fighting professional?

Which of the following statements regarding civil law is correct?

Fraud in companies such as WorldCom, Enron, Waste Management, Sunbeam, Rite-Aid, Phar-Mor, and Parmalat are examples of:

The most common fraud committed on behalf of an organization is:

Which of the following frauds is usually the most expensive?

Who Commits Fraud and Why

Fighting Fraud: an Overview

Preventing Fraud

Recognizing the Symptoms of Fraud

Data-Driven Fraud Detection

Investigating Theft Acts

Investigating Concealment

Conversion Investigation Methods

Inquiry Methods and Fraud Reports

Financial Statement Fraud

Revenue- and Inventory-Related Financial Statement Frauds

Liability, Asset, and Inadequate Disclosure Frauds

Fraud Against Organizations

Consumer Fraud

Bankruptcy, Divorce, and Tax Fraud

E-Commerce Fraud

Legal Follow-Up

Filters

Exam 1: The Nature of Fraud

The word "con," which means to deceive, comes from the word:

What is required to prove fraud, as opposed to negligence?

The GDP in the economy of Ponziland was $5 billion in the year prior to the frauds (Year 1). The economy was growing at 4 percent. Frauds during the year reduce aggregate income by $200 million. During the year, the economy has:

Who are the primary victims of financial statement fraud?

Which of the following skills would be LEAST beneficial in a career as a fraud-fighting professional?

Which of the following statements regarding civil law is correct?

Fraud in companies such as WorldCom, Enron, Waste Management, Sunbeam, Rite-Aid, Phar-Mor, and Parmalat are examples of:

The most common fraud committed on behalf of an organization is:

Which of the following frauds is usually the most expensive?

Who Commits Fraud and Why

Fighting Fraud: an Overview

Preventing Fraud

Recognizing the Symptoms of Fraud

Data-Driven Fraud Detection

Investigating Theft Acts

Investigating Concealment

Conversion Investigation Methods

Inquiry Methods and Fraud Reports

Financial Statement Fraud

Revenue- and Inventory-Related Financial Statement Frauds

Liability, Asset, and Inadequate Disclosure Frauds

Fraud Against Organizations

Consumer Fraud

Bankruptcy, Divorce, and Tax Fraud

E-Commerce Fraud

Legal Follow-Up

Filters