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CFE-Fraud-Prevention-and-Deterrence Exam Dumps : Certified Fraud Examiner - Fraud Prevention and Deterrence Exam

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ACFE CFE-Fraud-Prevention-and-Deterrence Exam Dumps FAQs

Q. # 1: What is the ACFE CFE-Fraud-Prevention-and-Deterrence Exam?

The ACFE CFE-Fraud-Prevention-and-Deterrence Exam is a certification exam for professionals aiming to become Certified Fraud Examiners (CFE). It tests knowledge in fraud prevention, detection, and deterrence.

Q. # 2: Who should take the ACFE CFE-Fraud-Prevention-and-Deterrence Exam?

The ACFE CFE-Fraud-Prevention-and-Deterrence Exam is ideal for professionals seeking careers in fraud examination, forensic accounting, internal auditing, or loss prevention. It's also valuable for accountants, investigators, and anyone working in fraud-sensitive environments.

Q. # 3: What topics are covered in the ACFE CFE-Fraud-Prevention-and-Deterrence Exam?

The ACFE CFE-Fraud-Prevention-and-Deterrence exam covers four main areas: Financial Transactions and Fraud Schemes, Law, Investigation, and Fraud Prevention and Deterrence.

Q. # 4: How many questions are on the ACFE CFE-Fraud-Prevention-and-Deterrence Exam?

The ACFE CFE-Fraud-Prevention-and-Deterrence exam consists of 400 multiple-choice questions, divided into four sections of 100 questions each.

Q. # 5: What is the duration of the ACFE CFE-Fraud-Prevention-and-Deterrence Exam?

The ACFE CFE-Fraud-Prevention-and-Deterrence exam duration is 2 hours.

Q. # 6: What is the passing score for the ACFE CFE-Fraud-Prevention-and-Deterrence Exam?

A passing score is 75% or higher on each section of the ACFE CFE-Fraud-Prevention-and-Deterrence exam.

Q. # 7: What is the difference between ACFE CFE-Fraud-Prevention-and-Deterrence and CFE-Law Exams?

The ACFE CFE-Fraud-Prevention-and-Deterrence and CFE-Law exams are both part of the Certified Fraud Examiner (CFE) certification, but they focus on different areas of fraud examination. Here are the key differences:

  • ACFE CFE-Fraud-Prevention-and-Deterrence Exam: The ACFE CFE-Fraud-Prevention-and-Deterrence Exam covers principles and techniques related to preventing and deterring fraud. It includes topics such as fraud risk assessment, fraud prevention programs, and fraud detection techniques.
  • ACFE CFE-Law Exam: The ACFE CFE-Law Exam concentrates on the legal aspects of fraud examination. It covers laws and regulations related to fraud, legal procedures, and the rights of individuals involved in fraud investigations.

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Certified Fraud Examiner - Fraud Prevention and Deterrence Exam Questions and Answers

Question 1

During an external audit of an organization's financial statements. Elena, the external auditor, uncovers significant internal control deficiencies at the audit client's organization. She believes these deficiencies could result in a material misstatement of the financial statements. Which of the following should Elena do with regard to these findings?

Options:

A.

Elena should suspend the audit and begin a new audit focused on the internal controls

B.

Elena should report the findings in writing to the appropriate law enforcement agencies.

C.

Elena should provide a written communication about the findings to senior management.

D.

Elena should work independently to correct the underlying internal control deficiency.

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Question 2

During a fraud risk assessment, a focus group would be MOST HELPFUL in which of the following situations?

Options:

A.

The assessment team would like to provide a means for anonymous employee suggestions or responses to questions posed.

B.

The assessment team would like to observe the interactions of several employees discussing the organization's current fraud awareness training.

C.

The assessment team would like to obtain individuals' responses through a formal electronic questionnaire.

D.

The assessment team would like to get candid one-on-one feedback from employees in a private setting.

Question 3

Which of the following is one of the four recommendations made by the National Commission on Fraudulent Financial Reporting (the Treadway Commission) to reduce the probability of fraud in financial reports?

Options:

A.

Assign oversight of the hotline reporting program to company shareholders

B.

Have a mandatory independent finance committee

C.

Provide adequate resources and authority to the internal audit function

D.

Develop a written charter for the audit committee