Question 1

In fraud cases where no legal action was taken, the most significant reason for the lack of prosecution was cited as:

Accepted Answer

A)  that internal discipline was sufficient. 
B)  the fear of bad publicity. 
C)  private settlement was attained. 
D)  the dollar value of the loss was insufficient. 
A)  that internal discipline was sufficient. 
B)  the fear of bad publicity. 
C)  private settlement was attained. 
D)  the dollar value of the loss was insufficient.

Question 2

Money and ego are the two most commonly observed motivations for fraud and abuse.

Accepted Answer

A) True 
 B)False

Question 3

The tort, known as conversion is correctly stated as:

Accepted Answer

A)  the taking of property of another with the intent to deprive the owner of its use or possession. 
B)  an assumption and exercise of the right of ownership over goods or personal chattels belonging to another. 
C)  the carrying away of the property of another without the consent of the owner. 
D)  an unauthorized assumption and exercise of the right of ownership over goods or personal chattels belonging to another, to the alteration of their condition or the exclusion of the owner's rights. 
A)  the taking of property of another with the intent to deprive the owner of its use or possession. 
B)  an assumption and exercise of the right of ownership over goods or personal chattels belonging to another. 
C)  the carrying away of the property of another without the consent of the owner. 
D)  an unauthorized assumption and exercise of the right of ownership over goods or personal chattels belonging to another, to the alteration of their condition or the exclusion of the owner's rights.

Question 4

Give examples of nonfraud forensic and litigation advisory engagements.

Accepted Answer

Engagements may be criminal, c

Question 5

Identify common fraud schemes.

Accepted Answer

Common fraud schemes

Question 6

Explain fraud examination.

Accepted Answer

Fraud examination involves obtaining doc

Question 7

The three legs of the fraud triangle are:

Accepted Answer

A)  Opportunity, Perceived Pressure, and Rationalization. 
B)  Opportunity, Value, and Rationalization. 
C)  Opportunity, Perceived Pressure, and Benefit. 
D)  Timing, Value, and Benefit. 
A)  Opportunity, Perceived Pressure, and Rationalization. 
B)  Opportunity, Value, and Rationalization. 
C)  Opportunity, Perceived Pressure, and Benefit. 
D)  Timing, Value, and Benefit.

Question 8

A common complaint among those who investigate fraud is that:

Accepted Answer

A)  the adversarial relationship between plaintiffs and fraud examiners resulted in weak cases. 
B)  job rotation policies often result in perpetrators being moved to new positions of responsibility before being exposed. 
C)  companies often conceal the cost of fraud as other business expenses. 
D)  organizations and law enforcement do not do enough to punish fraud and other white-collar offenses. 
A)  the adversarial relationship between plaintiffs and fraud examiners resulted in weak cases. 
B)  job rotation policies often result in perpetrators being moved to new positions of responsibility before being exposed. 
C)  companies often conceal the cost of fraud as other business expenses. 
D)  organizations and law enforcement do not do enough to punish fraud and other white-collar offenses.

Question 9

Fraud or a fraudulent act is one that causes its victim to suffer an economic loss only.

Accepted Answer

A) True 
 B)False

Question 10

The interrelationship among auditing, fraud examination, and financial forensics is:

Accepted Answer

A)  established and maintained by legal structures and justice processes. 
B)  constant even while social and cultural pressures are exerted on it. 
C)  based on the SOX Act and SAS 99. 
D)  dynamic and changes over time. 
A)  established and maintained by legal structures and justice processes. 
B)  constant even while social and cultural pressures are exerted on it. 
C)  based on the SOX Act and SAS 99. 
D)  dynamic and changes over time.

Question 11

List the legal elements of fraud.

Accepted Answer

Under common law, fraud includes four es

Question 12

The most frequently reported method of uncovering occupational fraud was:

Accepted Answer

A)  by accident. 
B)  through internal audits. 
C)  tips. 
D)  through internal controls. 
A)  by accident. 
B)  through internal audits. 
C)  tips. 
D)  through internal controls.

Question 13

Explain the theory of the fraud triangle.

Accepted Answer

The fraud triangle provides an

Question 14

When fraudsters collude, the losses to the victim organization increase more than fourfold.

Accepted Answer

A) True 
 B)False

Question 15

A person is said to act in a 'fiduciary capacity' when:

Accepted Answer

A)  the business which he transacts, or the money or property which he handles, is not for his own benefit. 
B)  a relationship exists between the defendant and the plaintiff. 
C)  the action resulted in harm to the defendant. 
D)  he stands in a relation implying normal confidence, trust, and faith. 
A)  the business which he transacts, or the money or property which he handles, is not for his own benefit. 
B)  a relationship exists between the defendant and the plaintiff. 
C)  the action resulted in harm to the defendant. 
D)  he stands in a relation implying normal confidence, trust, and faith.

Question 16

The Sarbanes-Oxley Act SOX of 2002 is aimed at accounting staffs, auditing firms, corporate governance, executive management CEOs and CFOs, officers, and directors.

Accepted Answer

A) True 
 B)False

Question 17

Intent is a significant problem in fraud investigations and prosecutions. Discuss the issue of intent and explain some of the common problems associated with proving intent.

Accepted Answer

Although the fraud triangle provides an

Question 18

Which statement below correctly states the four elements required to prove larceny?

Accepted Answer

A)  There must be a taking or carrying away of the money of another without the consent of the owner and with the intent to deprive the owner of its use. 
B)  There was a taking or carrying away, of the money or property of another without the consent of the owner, and with the intent to deprive the owner of its use or possession. 
C)  There was a carrying away, of the property of another without the consent, and with the intent to deprive the owner of its possession. 
D)  There was a taking or carrying away, of the property of another with the intent to deprive the owner of its use or possession. 
A)  There must be a taking or carrying away of the money of another without the consent of the owner and with the intent to deprive the owner of its use. 
B)  There was a taking or carrying away, of the money or property of another without the consent of the owner, and with the intent to deprive the owner of its use or possession. 
C)  There was a carrying away, of the property of another without the consent, and with the intent to deprive the owner of its possession. 
D)  There was a taking or carrying away, of the property of another with the intent to deprive the owner of its use or possession.

Question 19

At a minimum, professional skepticism:

Accepted Answer

A)  is supportive of client's claim of fraud. 
B)  is a neutral but disciplined approach to detection and investigation. 
C)  assumes that the management is dishonest and therefore must "pull every loose thread" to find the evidence and fraud. 
D)  assumes unquestioned loyalty by newer and younger employees. 
A)  is supportive of client's claim of fraud. 
B)  is a neutral but disciplined approach to detection and investigation. 
C)  assumes that the management is dishonest and therefore must "pull every loose thread" to find the evidence and fraud. 
D)  assumes unquestioned loyalty by newer and younger employees.

Question 20

Which of the following is not a symptom of one of the six common categories of fraud?

Accepted Answer

A)  Unexplained accounting anomalies. 
B)  Exploited internal control weaknesses. 
C)  Where nonfinancial data correlates with financial data. 
D)  Anomalies communicated via tips and complaints. 
A)  Unexplained accounting anomalies. 
B)  Exploited internal control weaknesses. 
C)  Where nonfinancial data correlates with financial data. 
D)  Anomalies communicated via tips and complaints.

In fraud cases where no legal action was taken, the most significant reason for the lack of prosecution was cited as:

Money and ego are the two most commonly observed motivations for fraud and abuse.

The tort, known as conversion is correctly stated as:

Give examples of nonfraud forensic and litigation advisory engagements.

Identify common fraud schemes.

Explain fraud examination.

The three legs of the fraud triangle are:

A common complaint among those who investigate fraud is that:

Fraud or a fraudulent act is one that causes its victim to suffer an economic loss only.

The interrelationship among auditing, fraud examination, and financial forensics is:

List the legal elements of fraud.

The most frequently reported method of uncovering occupational fraud was:

Explain the theory of the fraud triangle.

When fraudsters collude, the losses to the victim organization increase more than fourfold.

A person is said to act in a 'fiduciary capacity' when:

The Sarbanes-Oxley Act SOX of 2002 is aimed at accounting staffs, auditing firms, corporate governance, executive management CEOs and CFOs, officers, and directors.

Intent is a significant problem in fraud investigations and prosecutions. Discuss the issue of intent and explain some of the common problems associated with proving intent.

Which statement below correctly states the four elements required to prove larceny?

At a minimum, professional skepticism:

Which of the following is not a symptom of one of the six common categories of fraud?

Careers in Fraud Examination and Financial Forensics

Who Commits Fraud and Why: Criminology and Ethics

Complex Frauds and Financial Crimes

Cybercrime: Computer and Internet Fraud

Legal, Regulatory, and Professional Environment

Fraud Detection: Red Flags and Targeted Risk Assessment

Detection and Investigations

Effective Interviewing and Interrogation

Using Information Technology for Fraud Examination and Financial Forensics

Cash Receipt Schemes and Other Asset Misappropriations

Cash Disbursement Schemes

Corruption and the Human Factor

Financial Statement Fraud

Consulting, Litigation Support, and Expert Witnesses: Damages, Valuations, and Other Engagements

Remediation and Litigation Advisory Services

Filters

Exam 1: Core Foundation Related to Fraud Examination and Financial Forensics

In fraud cases where no legal action was taken, the most significant reason for the lack of prosecution was cited as:

Money and ego are the two most commonly observed motivations for fraud and abuse.

The tort, known as conversion is correctly stated as:

Give examples of nonfraud forensic and litigation advisory engagements.

Identify common fraud schemes.

Explain fraud examination.

The three legs of the fraud triangle are:

A common complaint among those who investigate fraud is that:

Fraud or a fraudulent act is one that causes its victim to suffer an economic loss only.

The interrelationship among auditing, fraud examination, and financial forensics is:

List the legal elements of fraud.

The most frequently reported method of uncovering occupational fraud was:

Explain the theory of the fraud triangle.

When fraudsters collude, the losses to the victim organization increase more than fourfold.

A person is said to act in a 'fiduciary capacity' when:

The Sarbanes-Oxley Act SOX of 2002 is aimed at accounting staffs, auditing firms, corporate governance, executive management CEOs and CFOs, officers, and directors.

Intent is a significant problem in fraud investigations and prosecutions. Discuss the issue of intent and explain some of the common problems associated with proving intent.

Which statement below correctly states the four elements required to prove larceny?

At a minimum, professional skepticism:

Which of the following is not a symptom of one of the six common categories of fraud?

Careers in Fraud Examination and Financial Forensics

Who Commits Fraud and Why: Criminology and Ethics

Complex Frauds and Financial Crimes

Cybercrime: Computer and Internet Fraud

Legal, Regulatory, and Professional Environment

Fraud Detection: Red Flags and Targeted Risk Assessment

Detection and Investigations

Effective Interviewing and Interrogation

Using Information Technology for Fraud Examination and Financial Forensics

Cash Receipt Schemes and Other Asset Misappropriations

Cash Disbursement Schemes

Corruption and the Human Factor

Financial Statement Fraud

Consulting, Litigation Support, and Expert Witnesses: Damages, Valuations, and Other Engagements

Remediation and Litigation Advisory Services

Filters