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ACFE CFE-Fraud-Prevention Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Fraud Prevention Framework | 25% | - Fraud risk governance and oversight - Fraud risk assessment processes |
| Corporate Governance and Ethics | 25% | - Ethical culture and tone at the top - Code of conduct and compliance programs |
| Fraud Risk Management and Deterrence | 25% | - Monitoring and continuous improvement - Fraud prevention strategies and programs |
| Internal Controls and Fraud Prevention | 25% | - Internal control design and effectiveness - Fraud detection and prevention controls |
ACFE Certified Fraud Examiner - Fraud Prevention and Deterrence Sample Questions:
Question 1
A fraud risk assessment identifies a scheme that has a low likelihood of occurrence but would cause catastrophic financial and reputational damage. How should the organization treat this risk?
A. Evaluate both likelihood and impact when determining mitigation priorities
B. Ignore it because likelihood is low
C. Focus only on frequent fraud risks
D. Remove it from the assessment
Question 2
Which of the following statements is FALSE?
A. Most experts agree that it is harder to detect frauds than to prevent them
B. Controls are not effective in preventing theft and fraud If those at risk do not know of their presence
C. Educating employees about company hotlines and reporting programs increases their perception of detection
D. Conducting covert audits is among the most effective fraud prevention methods
Question 3
According to Silk and Vogel's research, business leaders rationalize legal violations by asserting that compliance with government regulations is too costly and cuts too heavily into company profits.
A. True
B. False
Question 4
According to the results of behavioral studies, such as those conducted by B. F. Skinner, application of punishment to undesired behavior typically results in which of the following?
A. Temporary suppression of the undesired behavior
B. Permanent suppression of the undesired behavior
C. increase in the occurrence of the undesired behavior
D. No effect on the occurrence of the undesired behavior
Question 5
Which of the following statements is FALSE regarding an organization's fraud risk management program?
A. The program must include mechanisms to address breaches in compliance.
B. The punishment for intentional noncompliance should be carried out in a consistent and firm manner.
C. Formal sanctions for intentional noncompliance should be determined and enacted privately
D. A specific individual or team should be designated as responsible for monitoring compliance with the program
Solutions:
| Question 1 Answer: A | Question 2 Answer: D | Question 3 Answer: A | Question 4 Answer: A | Question 5 Answer: C |
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