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acfe CFE_FINANCIAL_TRANSACTIONS_AND_FRAUD_SCHEMES

Exam contains 191 questions

Page 5 of 32

Question 25 🔥

Which of the following is the MOST ACCURATE statement about the phases of procurements involving open and free competition?

Which database solution meets these requirements?

A. In the post-award and administration phase, the procuring entity identifies its needs and develops the criteria used to award the contract.

Highly voted

B. In the solicitation phase, prospective contractors prepare and submit their bids.

Highly voted

C. In the bid evaluation and award phase, the procuring entity fulfills its duties through the performance of its contractual obligations.

Highly voted

D. In the presolicitation phase, the procuring entity issues the solicitation document.

Highly voted

Discussion of the question

Question 26 🔥

Which of the following situations MOST LIKELY constitutes health care fraud committed by an insurance company?

Which database solution meets these requirements?

B. Failing to pay a claim because the claim is missing required information

Highly voted

A. Negotiating discounts with medical providers and then failing to apply those discounts toward consumers’ medical bills

Highly voted

C. Instituting procedures to detect fraudulent claims when acting as an intermediary for a government health care program

Highly voted

D. Submitting cost data to health care regulators to justify rate increases

Highly voted

Discussion of the question

Question 27 🔥

Which of the following statements is TRUE regarding electronic payment tampering?

Which database solution meets these requirements?

A. Electronic payment tampering schemes leave a clear audit trail.

Highly voted

B. Companies should use separate bank accounts for paper and electronic transactions.

Highly voted

C. Positive pay is not available on ACH transactions.

Highly voted

D. The individual who makes electronic payments on the company’s behalf should also set up ACH filters to ensure only designated individuals get paid.

Highly voted

Discussion of the question

Question 28 🔥

All of the following methods are useful in the detection of cash larceny schemes EXCEPT:

Which database solution meets these requirements?

A. Reconciling cash register totals to the amount of cash in the drawer

Highly voted

B. Performing surprise cash counts

Highly voted

C. Having the accounts receivable clerk prepare the bank deposit

Highly voted

D. Analyzing journal entries made to cash accounts

Highly voted

Discussion of the question

Question 29 🔥

Which of the following is MOST ACCURATE concerning common methods that identity thieves use to steal information?

Which database solution meets these requirements?

A. Vishing involves using an imitation website to trick targets into revealing personal or business information.

Highly voted

B. Stealing a credit card number by watching someone enter it on a computer is an example of shoulder surfing.

Highly voted

C. Searching for sensitive personal information on used mobile phones purchased from a reseller is an example of dumpster diving.

Highly voted

D. Baiting is defined as the practice of manipulating people into revealing personal or business information.

Highly voted

Discussion of the question

Question 30 🔥

Which of the following is a red flag that might indicate the existence of a need recognition scheme?

Which database solution meets these requirements?

A. The purchasing entity’s materials are being ordered at the optimal reorder point.

Highly voted

B. The purchasing entity has a large list of backup suppliers.

Highly voted

C. The purchasing entity has unusually high requirements for stock and inventory levels.

Highly voted

D. The purchasing entity has few surplus items written off as scrap.

Highly voted

Discussion of the question

Ready to Pass Your Certification Test

acfe CFE_FINANCIAL_TRANSACTIONS_AND_FRAUD_SCHEMES

Exam contains 191 questions

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