Question 1

Which of the following is an example of qualitative data?

Accepted Answer

A)  increase in profit margin over a five-year period 
B)  average weight of employees of the organization 
C)  preferred color of most employees in the organization 
D)  number of units produced on a daily basis 
A)  increase in profit margin over a five-year period 
B)  average weight of employees of the organization 
C)  preferred color of most employees in the organization 
D)  number of units produced on a daily basis

Question 2

Which of the following statements best describes the term subpoena?

Accepted Answer

A)  It is a court order issued by a judge authorizing a law enforcement agency to perform a search of a person or location and confiscate any evidence that is found. 
B)  It is a document that directs the production of documents or other items. 
C)  It is the tracing of the incremental effects of some initial stimulus. 
D)  It is a legal notice directing the attendance of a person at a deposition or trial. 
A)  It is a court order issued by a judge authorizing a law enforcement agency to perform a search of a person or location and confiscate any evidence that is found. 
B)  It is a document that directs the production of documents or other items. 
C)  It is the tracing of the incremental effects of some initial stimulus. 
D)  It is a legal notice directing the attendance of a person at a deposition or trial.

Question 3

Which of the following is an advantage of third-party data source?

Accepted Answer

A)  It can be obtained independently by the forensic accountant, without the assistance of the subject or engaging counsel. 
B)  It is outside the subject's ability to manipulate. 
C)  It is direct and accessible. 
D)  It can give an insight on the environment in which the subject operates. 
A)  It can be obtained independently by the forensic accountant, without the assistance of the subject or engaging counsel. 
B)  It is outside the subject's ability to manipulate. 
C)  It is direct and accessible. 
D)  It can give an insight on the environment in which the subject operates.

Question 4

Forensic accountants often do not have access to the entire universe of relevant data.

Accepted Answer

A) True 
 B)False

Question 5

As a part of a forensic accountant engagement,you interviewed all the first cousins of the subject.Which of the following types of data did you obtain?

Accepted Answer

A)  first-party data 
B)  second-party data 
C)  third-party data 
D)  fourth-party data 
A)  first-party data 
B)  second-party data 
C)  third-party data 
D)  fourth-party data

Question 6

Which of the following is an advantage of data analysis tools?

Accepted Answer

A)  They deal with quantitative data and hence have specific applicability. 
B)  They force the analyst to explicitly consider constraints in the data. 
C)  They allow the forensic accountant to extract the meaning of the data in a usable manner. 
D)  They are easy to apply, easy to customize, and easy to understand. 
A)  They deal with quantitative data and hence have specific applicability. 
B)  They force the analyst to explicitly consider constraints in the data. 
C)  They allow the forensic accountant to extract the meaning of the data in a usable manner. 
D)  They are easy to apply, easy to customize, and easy to understand.

Question 7

Which of the following is a key consideration when evaluating sufficiency of data?

Accepted Answer

A)  purpose of data 
B)  application of data 
C)  relevance of data 
D)  availability of data 
A)  purpose of data 
B)  application of data 
C)  relevance of data 
D)  availability of data

Question 8

Which of the following is true of the process of transcribing an interview?

Accepted Answer

A)  The focus is on the transcript itself and not on the process. 
B)  Interview transcription involves data analysis and interpretation. 
C)  The forensic accountant does not play a very active role in the transcription process. 
D)  The interview should be transcribed by the person who conducted the interview. 
A)  The focus is on the transcript itself and not on the process. 
B)  Interview transcription involves data analysis and interpretation. 
C)  The forensic accountant does not play a very active role in the transcription process. 
D)  The interview should be transcribed by the person who conducted the interview.

Question 9

Which of the following is a difference between fourth-party data sources and other data sources?

Accepted Answer

A)  Fourth-party data sources do not reflect the actual activity of the subject, whereas the other data sources reflect the actual activity. 
B)  Fourth-party data sources are obtained from reference sources, whereas the other data sources are obtained from entities that maintain records regarding the subject. 
C)  The other data sources fall within the realm of secondary research, whereas fourth-party data sources fall within the realm of primary research. 
D)  The other data sources may have some firsthand knowledge of the subject's activities, whereas fourth-party data sources can only be used to confirm data obtained from other sources. 
A)  Fourth-party data sources do not reflect the actual activity of the subject, whereas the other data sources reflect the actual activity. 
B)  Fourth-party data sources are obtained from reference sources, whereas the other data sources are obtained from entities that maintain records regarding the subject. 
C)  The other data sources fall within the realm of secondary research, whereas fourth-party data sources fall within the realm of primary research. 
D)  The other data sources may have some firsthand knowledge of the subject's activities, whereas fourth-party data sources can only be used to confirm data obtained from other sources.

Question 10

Which of the following is a similarity between third-party data sources and fourth-party data sources?

Accepted Answer

A)  Both data sources may have some firsthand knowledge of the subject's activities. 
B)  The information collected from both data sources does not reflect the actual activity of the subject. 
C)  Data received from both data sources fall under the category of secondary research. 
D)  Both data sources may involve associated costs. 
A)  Both data sources may have some firsthand knowledge of the subject's activities. 
B)  The information collected from both data sources does not reflect the actual activity of the subject. 
C)  Data received from both data sources fall under the category of secondary research. 
D)  Both data sources may involve associated costs.

Which of the following is an example of qualitative data?

Which of the following statements best describes the term subpoena?

Which of the following is an advantage of third-party data source?

Forensic accountants often do not have access to the entire universe of relevant data.

As a part of a forensic accountant engagement,you interviewed all the first cousins of the subject.Which of the following types of data did you obtain?

Which of the following is an advantage of data analysis tools?

Which of the following is a key consideration when evaluating sufficiency of data?

Which of the following is true of the process of transcribing an interview?

Which of the following is a difference between fourth-party data sources and other data sources?

Which of the following is a similarity between third-party data sources and fourth-party data sources?

Introduction to the World of Forensic Accounting

The Legal Environment of Forensic Accounting

Screening and Staging Engagements

Gathering Evidence Interviews and Observations

Financial Statements Analysis Reading Between the Lines

Fraud and White-Collar Crime

Conducting a Fraud Investigation

Transforming Data Into Evidence

Professional Responsibilities

Fundamentals of Business Valuation

Special Topics

Filters

Exam 8: Transforming Data Into Evidence

Which of the following is an example of qualitative data?

Which of the following statements best describes the term subpoena?

Which of the following is an advantage of third-party data source?

Forensic accountants often do not have access to the entire universe of relevant data.

As a part of a forensic accountant engagement,you interviewed all the first cousins of the subject.Which of the following types of data did you obtain?

Which of the following is an advantage of data analysis tools?

Which of the following is a key consideration when evaluating sufficiency of data?

Which of the following is true of the process of transcribing an interview?

Which of the following is a difference between fourth-party data sources and other data sources?

Which of the following is a similarity between third-party data sources and fourth-party data sources?

Introduction to the World of Forensic Accounting

The Legal Environment of Forensic Accounting

Screening and Staging Engagements

Gathering Evidence Interviews and Observations

Financial Statements Analysis Reading Between the Lines

Fraud and White-Collar Crime

Conducting a Fraud Investigation

Transforming Data Into Evidence

Professional Responsibilities

Fundamentals of Business Valuation

Special Topics

Filters