Question 1

Company C contracts from Company T to obtain a temp employee (Employee A). Employee A steals money from company C. Which type of fraud occurred?

Accepted Answer

A)  Employee embezzlement or occupational fraud 
B)  Management fraud 
C)  Investment scams 
D)  Vendor fraud 
E)  Customer fraud 
A)  Employee embezzlement or occupational fraud 
B)  Management fraud 
C)  Investment scams 
D)  Vendor fraud 
E)  Customer fraud

Question 2

Which of the following is not a common classification of fraud:

Accepted Answer

A)  Investment scams. 
B)  Government fraud. 
C)  Miscellaneous fraud. 
D)  Customer fraud. 
A)  Investment scams. 
B)  Government fraud. 
C)  Miscellaneous fraud. 
D)  Customer fraud.

Question 3

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 4

A company is a victim of a $414 million fraud. At that time its profit margin is 10%. How much additional revenue should the company generate in order to recover the effect on net income?

Accepted Answer

A)  $41.4 million 
B)  $414 million 
C)  $4.14 billion 
D)  $41.4 billion 
A)  $41.4 million 
B)  $414 million 
C)  $4.14 billion 
D)  $41.4 billion

Question 5

Which of the following federal law enforcement agencies is involved in fighting fraud?

Accepted Answer

A)  DEA 
B)  US Marshals 
C)  CIA 
D)  ATF 
E)  ACFE 
A)  DEA 
B)  US Marshals 
C)  CIA 
D)  ATF 
E)  ACFE

Question 6

Which of the following is not a true statement with regard to fraud:

Accepted Answer

A)  Confidence is the single most critical element for a fraud to be successful 
B)  Losses from fraud exceed losses from robbery 
C)  The largest group of fraud perpetrators are over fifty 
D)  All of the above are true 
A)  Confidence is the single most critical element for a fraud to be successful 
B)  Losses from fraud exceed losses from robbery 
C)  The largest group of fraud perpetrators are over fifty 
D)  All of the above are true

Question 7

Which of the following organizations is not a possibility for a future career in fraud?

Accepted Answer

A)  CPA Firms 
B)  Government 
C)  Universities 
D)  None of the above 
A)  CPA Firms 
B)  Government 
C)  Universities 
D)  None of the above

Question 8

Fraud is deception that includes all of the following except:

Accepted Answer

A)  False representation 
B)  Tricky and/or cunning tactics 
C)  Confidence in the perpetrator 
D)  Unintentional Errors 
A)  False representation 
B)  Tricky and/or cunning tactics 
C)  Confidence in the perpetrator 
D)  Unintentional Errors

Question 9

According to chapter 1, what is the estimated average organization's loss from various types of fraud?

Accepted Answer

A)  "About 5 - 6% of total company revenues" 
B)  "Approximately 20 - 30% of revenues" 
C)  "Greater than 50% of revenues" 
D)  "Average losses cannot be estimated due to incomplete information" 
A)  "About 5 - 6% of total company revenues" 
B)  "Approximately 20 - 30% of revenues" 
C)  "Greater than 50% of revenues" 
D)  "Average losses cannot be estimated due to incomplete information"

Question 10

Which of the following are possible fraud-related careers:

Accepted Answer

A)  Postal Inspector 
B)  Expert Witness 
C)  Internal Auditing 
D)  U.S. Marshalls 
E)  All of the above 
A)  Postal Inspector 
B)  Expert Witness 
C)  Internal Auditing 
D)  U.S. Marshalls 
E)  All of the above

Question 11

One way that criminal law differs from civil law is that it:

Accepted Answer

A)  Provides remedies for violations of private rights. 
B)  Must yield a unanimous verdict. 
C)  Can have a jury of fewer than 12 persons. 
D)  Allows for various claims in one action. 
A)  Provides remedies for violations of private rights. 
B)  Must yield a unanimous verdict. 
C)  Can have a jury of fewer than 12 persons. 
D)  Allows for various claims in one action.

Question 12

Customer fraud is usually perpetrated in all of the following ways except:

Accepted Answer

A)  Customers don't pay for goods purchased 
B)  Customers get something for nothing 
C)  Customers deceive organizations into giving them something they should not have 
D)  Customers give kickbacks in order to manipulate organizations 
A)  Customers don't pay for goods purchased 
B)  Customers get something for nothing 
C)  Customers deceive organizations into giving them something they should not have 
D)  Customers give kickbacks in order to manipulate organizations

Question 13

The burden of proof in a criminal case must be

Accepted Answer

A)  "Beyond a Reasonable Doubt" 
B)  A "Preponderance of Evidence" 
A)  "Beyond a Reasonable Doubt" 
B)  A "Preponderance of Evidence"

Question 14

Customer fraud includes all of the following EXCEPT:

Accepted Answer

A)  Get something for nothing 
B)  Pay for goods purchased 
C)  Involves top management 
D)  Deceive organization into giving them something they should not 
A)  Get something for nothing 
B)  Pay for goods purchased 
C)  Involves top management 
D)  Deceive organization into giving them something they should not

Question 15

Which of the following is not a primary reason why frauds are becoming increasingly frequent?

Accepted Answer

A)  The advent of computers 
B)  Complex accounting systems 
C)  Globalization of corporations 
D)  The Internet 
A)  The advent of computers 
B)  Complex accounting systems 
C)  Globalization of corporations 
D)  The Internet

Question 16

Which of the following is the most commonly committed type of fraud?

Accepted Answer

A)  Occupational fraud committed against the organization. 
B)  Fraud committed on behalf of the organization 
C)  Fraud committed by an organization against employees. 
D)  Fraud committed by government agencies. 
A)  Occupational fraud committed against the organization. 
B)  Fraud committed on behalf of the organization 
C)  Fraud committed by an organization against employees. 
D)  Fraud committed by government agencies.

Question 17

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

Accepted Answer

A)  Converse 
B)  Conserve 
C)  Conceded 
D)  Confidence 
A)  Converse 
B)  Conserve 
C)  Conceded 
D)  Confidence

Company C contracts from Company T to obtain a temp employee (Employee A). Employee A steals money from company C. Which type of fraud occurred?

Which of the following is not a common classification of fraud:

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

A company is a victim of a $414 million fraud. At that time its profit margin is 10%. How much additional revenue should the company generate in order to recover the effect on net income?

Which of the following federal law enforcement agencies is involved in fighting fraud?

Which of the following is not a true statement with regard to fraud:

Which of the following organizations is not a possibility for a future career in fraud?

Fraud is deception that includes all of the following except:

According to chapter 1, what is the estimated average organization's loss from various types of fraud?

Which of the following are possible fraud-related careers:

One way that criminal law differs from civil law is that it:

Customer fraud is usually perpetrated in all of the following ways except:

The burden of proof in a criminal case must be

Customer fraud includes all of the following EXCEPT:

Which of the following is not a primary reason why frauds are becoming increasingly frequent?

Which of the following is the most commonly committed type of fraud?

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

Why People Commit Fraud

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

Fraud in E-Commerce

Legal Follow-Up

Filters

Exam 1: The Nature of Fraud

Company C contracts from Company T to obtain a temp employee (Employee A). Employee A steals money from company C. Which type of fraud occurred?

Which of the following is not a common classification of fraud:

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

A company is a victim of a $414 million fraud. At that time its profit margin is 10%. How much additional revenue should the company generate in order to recover the effect on net income?

Which of the following federal law enforcement agencies is involved in fighting fraud?

Which of the following is not a true statement with regard to fraud:

Which of the following organizations is not a possibility for a future career in fraud?

Fraud is deception that includes all of the following except:

According to chapter 1, what is the estimated average organization's loss from various types of fraud?

Which of the following are possible fraud-related careers:

One way that criminal law differs from civil law is that it:

Customer fraud is usually perpetrated in all of the following ways except:

The burden of proof in a criminal case must be

Customer fraud includes all of the following EXCEPT:

Which of the following is not a primary reason why frauds are becoming increasingly frequent?

Which of the following is the most commonly committed type of fraud?

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

Why People Commit Fraud

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

Fraud in E-Commerce

Legal Follow-Up

Filters