Exam 1: Certified Fraud Examiner

Which of the following is NOT standard of generally accepted accounting principles?

Organizations that had external audits actually had higher median losses and longer lasting fraud schemes than those organizations that were not audited.

__________ inventory and other assets is relatively common way for fraudsters to remove assets from the books before or after they are stolen.

The essential elements of a ________ are an actual or constructive taking away of the goods or property of another with the without the consent and against the will of the owner and with a felonious intent.

A tangible asset is one which is:

Bank statement are diligently reviewed to ensure that amounts and signature have not been altered, is an activity for:

The difference between assets and liabilities is called:

The most common method of detection in corruption cases is:

Which of the following is NOT the phase of the bidding process?

Statistical sampling enables the examiner to predict the occurrence rate for the population and therefore determine with some accuracy the error rate, or the potential for fraud.

Persuasive evidence of an arrangement does not exist when:

Which of the following are not of Basic types of non-sharable problems?

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

The price of an asset on which the asset is selling at on the open market in a transaction between a willing buyer and a wiling seller is called:

Depreciation is especially applicable when companies try to overvalue their assets and net worth; the lower their depreciation expense, the higher the company's profits.

Accounting records are designed to be kept on subjective rather than objective evidence.

SIMULATION ______________ is required not only for theft, but for procedures to detect errors, avoid waste and insure a proper amount of inventory is maintained.

Any expenses that are incurred but not paid by the end of the year are counted in our records of profit and loss, are called:

The more power a person has over the bidding process, the more likely the person can influence the selection of a supplier.

____________ is a summary of the account balances carried in a ledger.