Question 1

Possible objectives of a fraud investigation might include:

Accepted Answer

A)  All of these 
B)  Make an example of a fraudster 
C)  Minimize any embarrassing disclosures in the press 
D)  Punish the fraudster 
A)  All of these 
B)  Make an example of a fraudster 
C)  Minimize any embarrassing disclosures in the press 
D)  Punish the fraudster A

Question 2

If the investigator is attempting to prove that a given fraud theory is correct but also attempting to prove that it is not correct, he is engaging in:

Accepted Answer

A)  Double Jeopardy 
B)  Proving beyond a reasonable doubt 
C)  Double crossing 
D)  Reverse proof 
A)  Double Jeopardy 
B)  Proving beyond a reasonable doubt 
C)  Double crossing 
D)  Reverse proof D

Question 3

Recovery through litigation means:

Accepted Answer

A)  The corporation must pay the legal costs of the accused. 
B)  Both the plaintiff and defendant must pay a court fee for the proceedings. 
C)  The court may require the accused to pay if found guilty. 
D)  If found not guilty, the defendant may require legal fees be paid by the plaintiff. 
A)  The corporation must pay the legal costs of the accused. 
B)  Both the plaintiff and defendant must pay a court fee for the proceedings. 
C)  The court may require the accused to pay if found guilty. 
D)  If found not guilty, the defendant may require legal fees be paid by the plaintiff. C

Question 4

The incident report contains:

Accepted Answer

A)  All evidence that will need to be turned over to the defense during discovery. 
B)  Detailed working papers to prove the fraud. 
C)  The initial information used to justify the investigation. 
D)  A bench warrant for the accused. 
A)  All evidence that will need to be turned over to the defense during discovery. 
B)  Detailed working papers to prove the fraud. 
C)  The initial information used to justify the investigation. 
D)  A bench warrant for the accused.

Question 5

If an investigator is asked to provide a copy of their report to a 3rd party, such as law enforcement, what should they do first?

Accepted Answer

A)  Have company counsel review the documents to ensure no proprietary information is being released. 
B)  Obtain written authorization from the company that hired them first. 
C)  Ensure law enforcement is going to arrest the fraudster first. 
D)  Ask the 3rd party to provide a written authorization from the company. 
A)  Have company counsel review the documents to ensure no proprietary information is being released. 
B)  Obtain written authorization from the company that hired them first. 
C)  Ensure law enforcement is going to arrest the fraudster first. 
D)  Ask the 3rd party to provide a written authorization from the company.

Question 6

Describe the fraud investigation process.

Accepted Answer

The fraud investigation process involves

Question 7

Which of the following is NOT a legal issue to consider prior to a fraud investigation?

Accepted Answer

A)  Rights of workers or other suspects under investigation. 
B)  The possibility of conducting the investigation under attorney-client privilege. 
C)  Possible illegal activities by the corporation itself. 
D)  Rights of investigating employers. 
A)  Rights of workers or other suspects under investigation. 
B)  The possibility of conducting the investigation under attorney-client privilege. 
C)  Possible illegal activities by the corporation itself. 
D)  Rights of investigating employers.

Question 8

Part of the fraud investigation process involves filing charges with a District Attourney.

Accepted Answer

A) True 
 B)False

Question 9

The reporting process involves:

Accepted Answer

A)  Video recording and summarizing the results of the fraud investigation. 
B)  Documenting and summarizing the results of the civil litigation. 
C)  Documenting and summarizing the results of the fraud investigation. 
D)  A formal out brief to the Executives of the Corporation outlining the fraud discovered. 
A)  Video recording and summarizing the results of the fraud investigation. 
B)  Documenting and summarizing the results of the civil litigation. 
C)  Documenting and summarizing the results of the fraud investigation. 
D)  A formal out brief to the Executives of the Corporation outlining the fraud discovered.

Question 10

Which of the following is a part of the fraud engagement process?

Accepted Answer

A)  Provide a copy of the U.S. Code being investigated. 
B)  Provide an engagement letter or memorandum. 
C)  Provide an engagement letter or letter of Miranda. 
D)  Provide a bill of retainer for the costs of the investigation. 
A)  Provide a copy of the U.S. Code being investigated. 
B)  Provide an engagement letter or memorandum. 
C)  Provide an engagement letter or letter of Miranda. 
D)  Provide a bill of retainer for the costs of the investigation.

Question 11

The fraud investigation process involves:

Accepted Answer

A)  Quarterly gathering and reviewing evidence for the purpose of documenting the presence or absence of fraud. 
B)  Annually gathering and reviewing evidence for the purpose of documenting the presence or absence of fraud. 
C)  Periodically gathering and reviewing evidence for the purpose of documenting the presence or absence of fraud. 
D)  Systematically gathering and reviewing evidence for the purpose of documenting the presence or absence of fraud. 
A)  Quarterly gathering and reviewing evidence for the purpose of documenting the presence or absence of fraud. 
B)  Annually gathering and reviewing evidence for the purpose of documenting the presence or absence of fraud. 
C)  Periodically gathering and reviewing evidence for the purpose of documenting the presence or absence of fraud. 
D)  Systematically gathering and reviewing evidence for the purpose of documenting the presence or absence of fraud.

Question 12

Fraud investigations can be time consuming and expensive.

Accepted Answer

A) True 
 B)False

Question 13

When does the fraud investigation engagement process end?

Accepted Answer

A)  With first contact to an organization. 
B)  After a 12-month follow-up audit 
C)  With a complete agreement regarding the fraud-investigation services to be provided by the investigator. 
D)  Upon conviction of a criminal. 
A)  With first contact to an organization. 
B)  After a 12-month follow-up audit 
C)  With a complete agreement regarding the fraud-investigation services to be provided by the investigator. 
D)  Upon conviction of a criminal.

Question 14

Within the interview process, explain the steps involved and if the interviews should begin or end with those farthest away from the fraud.

Accepted Answer

The initial interviews are conducted wit

Question 15

If law enforcement is called during an investigation, then:

Accepted Answer

A)  Law enforcement will take over the investigation and the business will be forced to comply with whatever demands they have. 
B)  There may still be some give and take as to what the process will be. 
C)  The fraud investigator will serve as the liaison between law enforcement and the business. 
D)  Law enforcement will not be called during a fraud investigation because District Attorneys are the sole legal enforcement agent for any fraud crime. 
A)  Law enforcement will take over the investigation and the business will be forced to comply with whatever demands they have. 
B)  There may still be some give and take as to what the process will be. 
C)  The fraud investigator will serve as the liaison between law enforcement and the business. 
D)  Law enforcement will not be called during a fraud investigation because District Attorneys are the sole legal enforcement agent for any fraud crime.

Question 16

What are some other services that may be provided during a fraud investigation?

Accepted Answer

A)  Advice on guilt or innocence. 
B)  Advice on improving business processes or controls. 
C)  Advice on informing insurance carriers. 
D)  Advice on new markets to explore. 
A)  Advice on guilt or innocence. 
B)  Advice on improving business processes or controls. 
C)  Advice on informing insurance carriers. 
D)  Advice on new markets to explore.

Question 17

What are the four types of evidence that are gathered in the evidence collection process?

Accepted Answer

Physical evidence, documentary evidence,

Question 18

During the fraud investigation process, it is important to remember:

Accepted Answer

A)  To never exceed the amount of billable hours authorized under GAAP. 
B)  The fraud investigator is not law enforcement and cannot provide evidence in a trial. 
C)  The rights of the victim as well as the accused. 
D)  To limit the investigation to the U.S. Code that has been violated. 
A)  To never exceed the amount of billable hours authorized under GAAP. 
B)  The fraud investigator is not law enforcement and cannot provide evidence in a trial. 
C)  The rights of the victim as well as the accused. 
D)  To limit the investigation to the U.S. Code that has been violated.

Question 19

When using client employees to assist in the investigation, what must be considered?

Accepted Answer

A)  That the employee is a part of the fraud being committed. 
B)  That the employee be placed on the payroll of the investigating firm. 
C)  That the employee themselves are not part of the fraud being committed. 
D)  That the employee should perform the investigation work from home or another office. 
A)  That the employee is a part of the fraud being committed. 
B)  That the employee be placed on the payroll of the investigating firm. 
C)  That the employee themselves are not part of the fraud being committed. 
D)  That the employee should perform the investigation work from home or another office.

Question 20

How many steps are there in the fraud investigation process?

Accepted Answer

A)  1 
B)  2 
C)  3 
D)  4 
A)  1 
B)  2 
C)  3 
D)  4

Possible objectives of a fraud investigation might include:

If the investigator is attempting to prove that a given fraud theory is correct but also attempting to prove that it is not correct, he is engaging in:

Recovery through litigation means:

The incident report contains:

If an investigator is asked to provide a copy of their report to a 3^rd party, such as law enforcement, what should they do first?

Describe the fraud investigation process.

Which of the following is NOT a legal issue to consider prior to a fraud investigation?

Part of the fraud investigation process involves filing charges with a District Attourney.

The reporting process involves:

Which of the following is a part of the fraud engagement process?

The fraud investigation process involves:

Fraud investigations can be time consuming and expensive.

When does the fraud investigation engagement process end?

Within the interview process, explain the steps involved and if the interviews should begin or end with those farthest away from the fraud.

If law enforcement is called during an investigation, then:

What are some other services that may be provided during a fraud investigation?

What are the four types of evidence that are gathered in the evidence collection process?

During the fraud investigation process, it is important to remember:

When using client employees to assist in the investigation, what must be considered?

How many steps are there in the fraud investigation process?

Introduction to Forensic Accounting and Fraud Examination

The Forensic Accounting Legal Environment

Fundamentals I: Accounting Information Systems

Fundamentals II: The Auditing Environment

Fraud Prevention and Risk Management

Fraud Detection

The Evidence Collection Process

Fraud Examination Evidence I: Physical, Documentary, and Observational Evidence

Fraud Examination Evidence II: Interview and Interrogation Methods

Fraud Examination Evidence III: Forensic Science and Computer Forensics

The Fraud Report, Litigation, and the Recovery Process

Employee, Vendor, and Other Frauds Against the Organization

Financial Statement Fraud

Fraud and Sox Compliance

Tax Fraud

Bankruptcy, Divorce, Identity Theft

Organized Crime, Counterterrorism, and Anti-Money Laundering

Business Valuation

Dispute Resolution Services

Filters

Exam 7: The Fraud Investigation and Engagement Processes

Possible objectives of a fraud investigation might include:

If the investigator is attempting to prove that a given fraud theory is correct but also attempting to prove that it is not correct, he is engaging in:

Recovery through litigation means:

The incident report contains:

If an investigator is asked to provide a copy of their report to a 3rd party, such as law enforcement, what should they do first?

Describe the fraud investigation process.

Which of the following is NOT a legal issue to consider prior to a fraud investigation?

Part of the fraud investigation process involves filing charges with a District Attourney.

The reporting process involves:

Which of the following is a part of the fraud engagement process?

The fraud investigation process involves:

Fraud investigations can be time consuming and expensive.

When does the fraud investigation engagement process end?

Within the interview process, explain the steps involved and if the interviews should begin or end with those farthest away from the fraud.

If law enforcement is called during an investigation, then:

What are some other services that may be provided during a fraud investigation?

What are the four types of evidence that are gathered in the evidence collection process?

During the fraud investigation process, it is important to remember:

When using client employees to assist in the investigation, what must be considered?

How many steps are there in the fraud investigation process?

Introduction to Forensic Accounting and Fraud Examination

The Forensic Accounting Legal Environment

Fundamentals I: Accounting Information Systems

Fundamentals II: The Auditing Environment

Fraud Prevention and Risk Management

Fraud Detection

The Evidence Collection Process

Fraud Examination Evidence I: Physical, Documentary, and Observational Evidence

Fraud Examination Evidence II: Interview and Interrogation Methods

Fraud Examination Evidence III: Forensic Science and Computer Forensics

The Fraud Report, Litigation, and the Recovery Process

Employee, Vendor, and Other Frauds Against the Organization

Financial Statement Fraud

Fraud and Sox Compliance

Tax Fraud

Bankruptcy, Divorce, Identity Theft

Organized Crime, Counterterrorism, and Anti-Money Laundering

Business Valuation

Dispute Resolution Services

Filters

If an investigator is asked to provide a copy of their report to a 3^rd party, such as law enforcement, what should they do first?