QUESTION 54
Another way to eliminate competition in the solicitation phase of the selection process is to:

QUESTION 55
People commit financial statement fraud to:

QUESTION 56
The principal way to detect omitted credits from books of account is through:

QUESTION 57
By what accountant means that the financial figures presented by the company are at least as much as reflected in the statements, if not more.

QUESTION 58
All of the following items appear on the balance sheet EXCEPT:

QUESTION 59
Which of the four basic measures, if properly installed and implemented may help prevent inventory fraud?

QUESTION 60
What can make it easy for an employee to skim sales or receivables?

QUESTION 61
_____________ involves purposeful misreporting of financial information about the organization that is intended to mislead those who read it.

QUESTION 62
Asset misappropriation schemes were the “middle children” of the study; they were more common than fraudulent statements and more costly than corruption.

QUESTION 63
“Anticipate possible losses and omit potential profits”, this results in:

QUESTION 64
Which of the following is a common red flag of procurement fraud schemes involving collusion among contractors?

QUESTION 65
A variation between the physical inventory and the perpetual inventory totals is called:

QUESTION 66
Verify supporting documentation on outstanding checks written for a material amount is a test used to conduct for:

QUESTION 67
Neil, a Certified Fraud Examiner (CFE), discovers that a borrower used the same property as a security, or guarantee, to obtain multiple loans from different financial institutions before they were recorded on his credit report. Which type of loan fraud BEST describes the scheme Neil uncovered?

QUESTION 68
In ___________ scheme, an employee creates false vouchers or submits false invoices to the employer.

QUESTION 69
Green was a salesperson whose job required frequent travel. When Green went on a trip with her family that was not business related, she saved the receipts from her flight, hotel, and restaurant expenses. She turned in these receipts to her manager along with an expense report that described the expenses as business related.
Green’s company reimbursed her for the expenses. This is an example of what type of expense reimbursement scheme?

QUESTION 70
A shell company scheme in which actual goods or services are sold to the victim company is known as:

QUESTION 71
Vertical analysis can BEST be described as:

QUESTION 72
All of the following are common ways that a procuring employee might engage in a bid manipulation scheme EXCEPT:

QUESTION 73
Which of the following is a FALSE statement regarding check fraud?