Last Attempt CFE-Financial-Transactions-and-Fraud-Schemes Questions

Certified Fraud Examiner - Financial Transactions and Fraud Schemes Exam Questions and Answers

Question 9

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

Solicit bid from fictitious suppliers

Solicit transaction from fictitious vendors

Solicit bid-splitting from fictitious vendors

None of the above

Question 10

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

Asymmetrical accounting

Symmetrical accounting

Playing accounting

Bearing accounting

Question 11

Which of the following is NOT the aspect of inventory purchase?

Inventory purchases purposely increase in year 1 only to be liquidated in year 2.

inventory for the year 2 will be much greater than year 1.

Increase sales in year 2 are unexpected and purchase of inventory does not keep pace with the sales.

might be some fraud scheme in inventory.

Question 12

Which of the following is NOT the phase of the bidding process?

Presolicitation

Postsolicitation

Solicitation

Submission