Question 1

Why should an employee not be fired prior to the investigators report being finalized or even court proceedings complete?

Accepted Answer

Employers who terminate an employee for

Question 2

Forensic accountants serve one primary role as experts in forensic matters: as expert witnesses.

Accepted Answer

A) True 
 B)False

Question 3

Outline the elements of a fraud investigation report and explain the purpose three of them.

Accepted Answer

1. The address Section. This section ind

Question 4

Outline the different options for fraud loss recovery

Accepted Answer

The fraud loss recovery process includes

Question 5

Which of the following is NOT found in a fraud investigation report?

Accepted Answer

A)  The address section. 
B)  Background information. 
C)  The approach. 
D)  The statement of guilt or innocence. 
A)  The address section. 
B)  Background information. 
C)  The approach. 
D)  The statement of guilt or innocence.

Question 6

Which of the following is a key word to imply fraud, but not actually accuse someone of it?

Accepted Answer

A)  Apparent 
B)  Consistent 
C)  Accused 
D)  Guilty 
A)  Apparent 
B)  Consistent 
C)  Accused 
D)  Guilty

Question 7

Prior to trial, the prosecution or plaintiff may ask that the fraud be presented in _______ form.

Accepted Answer

A)  hierarchical 
B)  linear 
C)  laymen's 
D)  chronological 
A)  hierarchical 
B)  linear 
C)  laymen's 
D)  chronological

Question 8

Which of the following is NOT an option for Fraud Loss Recovery?

Accepted Answer

A)  Accept the loss. 
B)  Collect Insurance if available. 
C)  Litigate 
D)  Have law enforcement seize personal assets of the fraudster. 
A)  Accept the loss. 
B)  Collect Insurance if available. 
C)  Litigate 
D)  Have law enforcement seize personal assets of the fraudster.

Question 9

What happens to some businesses if they have been the victim of payroll tax embezzlement and how can the fraud investigators report assist them?

Accepted Answer

In many cases, especially with small bus

Question 10

In some cases, a fraud investigation report may trigger mandatory reporting of the fraud to a government agency.

Accepted Answer

A) True 
 B)False

Question 11

Why do police or prosecutors sometimes not process with their fraud investigation?

Accepted Answer

A)  It is perceived as a victimless crime. 
B)  They are overwhelmed with other violent crimes. 
C)  They feel fraud investigators should bring the case to them. 
D)  They do not find a clear statement of guilt in the fraud investigators report. 
A)  It is perceived as a victimless crime. 
B)  They are overwhelmed with other violent crimes. 
C)  They feel fraud investigators should bring the case to them. 
D)  They do not find a clear statement of guilt in the fraud investigators report.

Question 12

Why would some loss prevention measures not be worth implementation?

Accepted Answer

A)  Some corporations have poor internal control policies and implementation of some loss prevention measures would notify employees of these poor controls. 
B)  The IRS does not allow deductions for loss prevention measures. 
C)  Only court ordered loss prevention measures can me implemented. 
D)  Some measures, such as excessively tight security to prevent shoplifting, would cost more in sales and manpower costs than would save in shoplifters being caught. 
A)  Some corporations have poor internal control policies and implementation of some loss prevention measures would notify employees of these poor controls. 
B)  The IRS does not allow deductions for loss prevention measures. 
C)  Only court ordered loss prevention measures can me implemented. 
D)  Some measures, such as excessively tight security to prevent shoplifting, would cost more in sales and manpower costs than would save in shoplifters being caught.

Question 13

A good practice is for the investigator to discuss any doubtful wording with her insurance company before releasing it to the client.

Accepted Answer

A) True 
 B)False

Question 14

By filing Form 3949-A with the IRS, what might this do for the owners of a company?

Accepted Answer

A)  It can help delay interest and penalties on the taxes due. 
B)  It can help the IRS initiate proceedings against the fraudster 
C)  It can help bolster an argument that the owners and managers were victims. 
D)  All of the above 
A)  It can help delay interest and penalties on the taxes due. 
B)  It can help the IRS initiate proceedings against the fraudster 
C)  It can help bolster an argument that the owners and managers were victims. 
D)  All of the above

Question 15

Proof of loss claims may not be paid until:

Accepted Answer

A)  A confession is signed. 
B)  The fraudster is found guilty in a court of law. 
C)  The fraud investigation is complete. 
D)  All of the above. 
A)  A confession is signed. 
B)  The fraudster is found guilty in a court of law. 
C)  The fraud investigation is complete. 
D)  All of the above.

Question 16

Employees who are fired for fraud are entitled to which of the following unemployment benefits?

Accepted Answer

A)  None 
B)  6 weeks 
C)  12 weeks 
D)  90 days 
A)  None 
B)  6 weeks 
C)  12 weeks 
D)  90 days

Question 17

Who is § 1233.3 (a) of Title 12 (Banks and Banking) of the U.S. Electronic Code of Federal Regulations applicable to?

Accepted Answer

A)  All businesses 
B)  Federal and State Agencies 
C)  Regulated entities 
D)  Local and County Agencies 
A)  All businesses 
B)  Federal and State Agencies 
C)  Regulated entities 
D)  Local and County Agencies

Question 18

Explain the different uses of fraud investigation reports

Accepted Answer

For income tax purposes such losses may

Question 19

For income tax purposes fraudulent losses may be classified as:

Accepted Answer

A)  Deductions. 
B)  Offsets to reportable revenues. 
C)  Reductions in retained earnings. 
D)  Both A and B. 
A)  Deductions. 
B)  Offsets to reportable revenues. 
C)  Reductions in retained earnings. 
D)  Both A and B.

Question 20

Once the IRS provides notice of TFRP, how many days does the business have to respond?

Accepted Answer

A)  60 
B)  45 
C)  30 
D)  10 
A)  60 
B)  45 
C)  30 
D)  10

Why should an employee not be fired prior to the investigators report being finalized or even court proceedings complete?

Forensic accountants serve one primary role as experts in forensic matters: as expert witnesses.

Outline the elements of a fraud investigation report and explain the purpose three of them.

Outline the different options for fraud loss recovery

Which of the following is NOT found in a fraud investigation report?

Which of the following is a key word to imply fraud, but not actually accuse someone of it?

Prior to trial, the prosecution or plaintiff may ask that the fraud be presented in _______ form.

Which of the following is NOT an option for Fraud Loss Recovery?

What happens to some businesses if they have been the victim of payroll tax embezzlement and how can the fraud investigators report assist them?

In some cases, a fraud investigation report may trigger mandatory reporting of the fraud to a government agency.

Why do police or prosecutors sometimes not process with their fraud investigation?

Why would some loss prevention measures not be worth implementation?

A good practice is for the investigator to discuss any doubtful wording with her insurance company before releasing it to the client.

By filing Form 3949-A with the IRS, what might this do for the owners of a company?

Proof of loss claims may not be paid until:

Employees who are fired for fraud are entitled to which of the following unemployment benefits?

Who is § 1233.3 (a) of Title 12 (Banks and Banking) of the U.S. Electronic Code of Federal Regulations applicable to?

Explain the different uses of fraud investigation reports

For income tax purposes fraudulent losses may be classified as:

Once the IRS provides notice of TFRP, how many days does the business have to respond?

Introduction to Forensic Accounting and Fraud Examination

The Forensic Accounting Legal Environment

Fundamentals I: Accounting Information Systems

Fundamentals II: The Auditing Environment

Fraud Prevention and Risk Management

Fraud Detection

The Fraud Investigation and Engagement Processes

The Evidence Collection Process

Fraud Examination Evidence I: Physical, Documentary, and Observational Evidence

Fraud Examination Evidence II: Interview and Interrogation Methods

Fraud Examination Evidence III: Forensic Science and Computer Forensics

Employee, Vendor, and Other Frauds Against the Organization

Financial Statement Fraud

Fraud and Sox Compliance

Tax Fraud

Bankruptcy, Divorce, Identity Theft

Organized Crime, Counterterrorism, and Anti-Money Laundering

Business Valuation

Dispute Resolution Services

Filters

Exam 12: The Fraud Report, Litigation, and the Recovery Process

Why should an employee not be fired prior to the investigators report being finalized or even court proceedings complete?

Forensic accountants serve one primary role as experts in forensic matters: as expert witnesses.

Outline the elements of a fraud investigation report and explain the purpose three of them.

Outline the different options for fraud loss recovery

Which of the following is NOT found in a fraud investigation report?

Which of the following is a key word to imply fraud, but not actually accuse someone of it?

Prior to trial, the prosecution or plaintiff may ask that the fraud be presented in _______ form.

Which of the following is NOT an option for Fraud Loss Recovery?

What happens to some businesses if they have been the victim of payroll tax embezzlement and how can the fraud investigators report assist them?

In some cases, a fraud investigation report may trigger mandatory reporting of the fraud to a government agency.

Why do police or prosecutors sometimes not process with their fraud investigation?

Why would some loss prevention measures not be worth implementation?

A good practice is for the investigator to discuss any doubtful wording with her insurance company before releasing it to the client.

By filing Form 3949-A with the IRS, what might this do for the owners of a company?

Proof of loss claims may not be paid until:

Employees who are fired for fraud are entitled to which of the following unemployment benefits?

Who is § 1233.3 (a) of Title 12 (Banks and Banking) of the U.S. Electronic Code of Federal Regulations applicable to?

Explain the different uses of fraud investigation reports

For income tax purposes fraudulent losses may be classified as:

Once the IRS provides notice of TFRP, how many days does the business have to respond?

Introduction to Forensic Accounting and Fraud Examination

The Forensic Accounting Legal Environment

Fundamentals I: Accounting Information Systems

Fundamentals II: The Auditing Environment

Fraud Prevention and Risk Management

Fraud Detection

The Fraud Investigation and Engagement Processes

The Evidence Collection Process

Fraud Examination Evidence I: Physical, Documentary, and Observational Evidence

Fraud Examination Evidence II: Interview and Interrogation Methods

Fraud Examination Evidence III: Forensic Science and Computer Forensics

Employee, Vendor, and Other Frauds Against the Organization

Financial Statement Fraud

Fraud and Sox Compliance

Tax Fraud

Bankruptcy, Divorce, Identity Theft

Organized Crime, Counterterrorism, and Anti-Money Laundering

Business Valuation

Dispute Resolution Services

Filters