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ACFE CFE-Fraud-Prevention Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Fraud Prevention and Deterrence | 25% | - Fraud risk assessment - Whistleblowing and reporting mechanisms - Fraud risk governance and organizational culture - Monitoring, auditing, and continuous improvement - Anti-fraud policies and procedures - Ethics and corporate governance - Fraud prevention programs and frameworks - Internal control systems and evaluation - Fraud deterrence strategies and controls |
ACFE Certified Fraud Examiner - Fraud Prevention and Deterrence Sample Questions:
1. Baldwin, a Certified Fraud Examiner (CFE), has an ethical dilemma regarding his business contract with his professional partners. Which of the following scenarios demonstrates Baldwin consulting a source of guidance that would be considered the LOWEST level of reference to use for determining the most ethical action to take?
A) Baldwin contemplating philosophical principles related to ethics.
B) Baldwin asking for guidance from his family and friends.
C) Baldwin reading the applicable contract law.
D) Baldwin reviewing the ACFE Code of Professional Ethics.
2. Which action BEST demonstrates management's commitment to fraud prevention?
A) Delegating all ethics responsibilities to auditors
B) Reducing fraud training expenditures
C) Conducting investigations only after losses occur
D) Maintaining a visible commitment to ethical conduct and accountability
3. Which of the following Is one of the recommendations made by the National Commission on Fraudulent Financial Reporting (the Treadway Commission) to reduce the probability of fraud in financial reports?
A) Give shareholders oversight of hotline reporting programs
B) Develop a written charter for management
C) Have adequate compensation committee resources and authority
D) Have a mandatory independent audit committee
4. As part of its anti-fraud program, Elm Company is outlining the responsibilities of different stakeholders. Who is ultimately responsible for ensuring the effectiveness of the organization's anti- fraud program?
A) Management
B) Forensic accountants
C) Internal auditors
D) The compliance function
5. During the course of a fraud examination. While, an employee of the ABC Corp.. approaches Blue, a Certified Fraud Examiner (CFE), and tells Blue that she wishes to furnish information in confidence.
Blue also is employed by the ABC Corp. Blue should:
A) Agree that the information will be held in confidence, even though Blue knows it will not be
B) Not agree to the request for confidentiality
C) Tell White that she will try to keep the information as confidential as possible
D) Take White's request straight to ABC Corp.'s management
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: D | Question # 4 Answer: A | Question # 5 Answer: B |

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