Question 1

Which of the following is a step in the fraud-theory approach?

Accepted Answer

A)  Prove the hypotheses invalid. 
B)  Refine and amend the hypotheses. 
C)  Link the hypotheses to a GAAP. 
D)  None of the above are a step in the fraud-theory approach. 
A)  Prove the hypotheses invalid. 
B)  Refine and amend the hypotheses. 
C)  Link the hypotheses to a GAAP. 
D)  None of the above are a step in the fraud-theory approach.

Question 2

What are some other items that are acceptable to be billed as part of the investigation?

Accepted Answer

A)  All of the below are acceptable. 
B)  Meals 
C)  Travel 
D)  Phone charges 
A)  All of the below are acceptable. 
B)  Meals 
C)  Travel 
D)  Phone charges

Question 3

How are the professional fees typically billed during an investigation?

Accepted Answer

A)  Weekly 
B)  As a percentage of potential fraud prevented. 
C)  When there has been an arrest. 
D)  Monthly 
A)  Weekly 
B)  As a percentage of potential fraud prevented. 
C)  When there has been an arrest. 
D)  Monthly

Question 4

The scope of the investigation serves to:

Accepted Answer

A)  Place limits on the objectives of the investigation. 
B)  Expand on the investigation if other fraud is found. 
C)  Place limits on the breadth of the investigation. 
D)  Contract the focus of the investigation. 
A)  Place limits on the objectives of the investigation. 
B)  Expand on the investigation if other fraud is found. 
C)  Place limits on the breadth of the investigation. 
D)  Contract the focus of the investigation.

Question 5

While considering legal issues prior to beginning a fraud examination, what are three considerations?

Accepted Answer

1. Rights of workers or other suspects u

Question 6

An investigator should always remain a part of the investigation, even if it means they will have to commit an illegal act.

Accepted Answer

A) True 
 B)False

Question 7

The investigator should never tell the fraudster to make restitution or she will report the fraudster to law enforcement.

Accepted Answer

A) True 
 B)False

Question 8

While considering reverse proof, what are four standards of defense that a fraudster may counter charges with?

Accepted Answer

1. Someone else did it.
2. It was done b

Question 9

Mediation and arbitration are conducted where and how are they disclosed?

Accepted Answer

A)  In a U.S. District Court and do not enter into the public record. 
B)  In private and do not enter into the public record. 
C)  In a State Supreme Court and are entered into the public record. 
D)  In private and enter into the public record if there is an admission of guilt by the fraudster. 
A)  In a U.S. District Court and do not enter into the public record. 
B)  In private and do not enter into the public record. 
C)  In a State Supreme Court and are entered into the public record. 
D)  In private and enter into the public record if there is an admission of guilt by the fraudster.

Question 10

Reverse proof means that the investigator must consider the evidence for both sides.

Accepted Answer

A) True 
 B)False

Question 11

The fraud investigation engagement process is a series of steps that begins at the time of the investigator's first contact with the case and ends with a conviction or plea bargin.

Accepted Answer

A) True 
 B)False

Question 12

Outline the fraud engagement process.

Accepted Answer

the fraud investigation engagement proce

Question 13

There is a Constitutional Amendment that requires law enforcement to investigate all fraud allegations.

Accepted Answer

A) True 
 B)False

Question 14

An initial decision must be made as to whether it is necessary to immediately intervene to prevent the perpetrator from continuing with the fraud scheme. What is this concept called and what are examples of ways to begin it?

Accepted Answer

Loss Mitigation. 1) immediately fire the

Question 15

Describe the Objectives and Scope of the Investigation that may be stated in an engagement letter.

Accepted Answer

An investigation of a treasury departmen

Question 16

Which is a consideration for reporting a loss to the insurance carrier of the corporation?

Accepted Answer

A)  Can the loss be absorbed into current net profits for the corporation? 
B)  Can personal assets of the accused be sold to recover the loss? 
C)  Has the corporation used all reasonable means to mitigate losses? 
D)  All of the above are considerations. 
A)  Can the loss be absorbed into current net profits for the corporation? 
B)  Can personal assets of the accused be sold to recover the loss? 
C)  Has the corporation used all reasonable means to mitigate losses? 
D)  All of the above are considerations.

Question 17

For all fraud investigations, it is essential that a(n) ____________ be created.

Accepted Answer

A)  Affidavit of findings 
B)  Unified case file 
C)  Sworn statement file 
D)  Working paper archive 
A)  Affidavit of findings 
B)  Unified case file 
C)  Sworn statement file 
D)  Working paper archive

Question 18

How many steps does the fraud engagement process involve?

Accepted Answer

A)  6 
B)  8 
C)  10 
D)  6 to 12, depending upon law enforcements involvement 
A)  6 
B)  8 
C)  10 
D)  6 to 12, depending upon law enforcements involvement

Question 19

Which of the following is NOT a method to be used in a fraud investigation?

Accepted Answer

A)  Covert surveillance of employees at home 
B)  Reviews of documents 
C)  Interviews with employees 
D)  Surreptitious surveillance of employees 
A)  Covert surveillance of employees at home 
B)  Reviews of documents 
C)  Interviews with employees 
D)  Surreptitious surveillance of employees

Question 20

What are the two main reasons that independent investigator will not draw conclusions regarding guilt or innocence?

Accepted Answer

A)  Investigators are not deputized and have not earned a law degree. 
B)  Guilt and innocence are generally a matter of opinion and opinion regarding guilt could open up the investigator to a law suit for defamation. 
C)  Guilt and innocence are facts of matter and investigators will hand their findings over to law enforcement. 
D)  None of the above are reasons. 
A)  Investigators are not deputized and have not earned a law degree. 
B)  Guilt and innocence are generally a matter of opinion and opinion regarding guilt could open up the investigator to a law suit for defamation. 
C)  Guilt and innocence are facts of matter and investigators will hand their findings over to law enforcement. 
D)  None of the above are reasons.

Which of the following is a step in the fraud-theory approach?

What are some other items that are acceptable to be billed as part of the investigation?

How are the professional fees typically billed during an investigation?

The scope of the investigation serves to:

While considering legal issues prior to beginning a fraud examination, what are three considerations?

An investigator should always remain a part of the investigation, even if it means they will have to commit an illegal act.

The investigator should never tell the fraudster to make restitution or she will report the fraudster to law enforcement.

While considering reverse proof, what are four standards of defense that a fraudster may counter charges with?

Mediation and arbitration are conducted where and how are they disclosed?

Reverse proof means that the investigator must consider the evidence for both sides.

The fraud investigation engagement process is a series of steps that begins at the time of the investigator's first contact with the case and ends with a conviction or plea bargin.

Outline the fraud engagement process.

There is a Constitutional Amendment that requires law enforcement to investigate all fraud allegations.

An initial decision must be made as to whether it is necessary to immediately intervene to prevent the perpetrator from continuing with the fraud scheme. What is this concept called and what are examples of ways to begin it?

Describe the Objectives and Scope of the Investigation that may be stated in an engagement letter.

Which is a consideration for reporting a loss to the insurance carrier of the corporation?

For all fraud investigations, it is essential that a(n) ____________ be created.

How many steps does the fraud engagement process involve?

Which of the following is NOT a method to be used in a fraud investigation?

What are the two main reasons that independent investigator will not draw conclusions regarding guilt or innocence?

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 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

The Fraud Report, Litigation, and the Recovery Process

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 7: The Fraud Investigation and Engagement Processes

Which of the following is a step in the fraud-theory approach?

What are some other items that are acceptable to be billed as part of the investigation?

How are the professional fees typically billed during an investigation?

The scope of the investigation serves to:

While considering legal issues prior to beginning a fraud examination, what are three considerations?

An investigator should always remain a part of the investigation, even if it means they will have to commit an illegal act.

The investigator should never tell the fraudster to make restitution or she will report the fraudster to law enforcement.

While considering reverse proof, what are four standards of defense that a fraudster may counter charges with?

Mediation and arbitration are conducted where and how are they disclosed?

Reverse proof means that the investigator must consider the evidence for both sides.

The fraud investigation engagement process is a series of steps that begins at the time of the investigator's first contact with the case and ends with a conviction or plea bargin.

Outline the fraud engagement process.

There is a Constitutional Amendment that requires law enforcement to investigate all fraud allegations.

An initial decision must be made as to whether it is necessary to immediately intervene to prevent the perpetrator from continuing with the fraud scheme. What is this concept called and what are examples of ways to begin it?

Describe the Objectives and Scope of the Investigation that may be stated in an engagement letter.

Which is a consideration for reporting a loss to the insurance carrier of the corporation?

For all fraud investigations, it is essential that a(n) ____________ be created.

How many steps does the fraud engagement process involve?

Which of the following is NOT a method to be used in a fraud investigation?

What are the two main reasons that independent investigator will not draw conclusions regarding guilt or innocence?

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 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

The Fraud Report, Litigation, and the Recovery Process

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