Free ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam Dumps Questions & Answers

________ increase assets and expenses and/or decrease liabilities and/or equity.

• A.Journal Entries
• B.Credit
• C.None of all
• D.Debit

Georgina works for TAK Intelligence, a competitive intelligence firm. She is tasked with gathering intelligence about ERO Corp., a competitor of one of TAK's clients. To gather the intelligence, Georgina poses as a customer and contacts ERO. She then elicits sensitive information from an ERO employee.
Georgina's approach is an example of:

• A.Open-source intelligence
• B.Scavenging
• C.Human intelligence
• D.Baiting

Which of the following is a red flag that might indicate that someone is attempting to commit insurance fraud?

• A.A theft claim includes items that were purchased recently and the receipts.
• B.A burglary loss claim includes small electronic items and jewelry.
• C.The insured made one other insurance claim within the past five years.
• D.A claim is made soon after an insurance policy commences.

Reconciling the sales records to the cash receipts is an effective way to detect a sales skimming scheme.

• A.True
• B.False

Revenue is recognized when it is:

• A.Realized and Earned
• B.Realized and Evidenced
• C.Fictitious and Earned
• D.All of the above