ACFE CFE Exam Actual Questions

The questions for CFE were last updated on Oct 4, 2024.

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Question No. 1

A voucher is:

Aa file that includes the purchase order that was send to the vendor, the vendor invoice listing the cost and quantity of items purchased , and the internal receiving reports that verify the purchased items have been delivered.

Ba figure that includes the sale order that was send to the dealer, the vendor invoice listing the cost and quantity of items sold , and the internal receiving reports that verify the purchased items have been delivered.

Ca report that includes the purchase order that was send to the vendor, the vendor invoice listing the quality and quantity of items purchased , and the external receiving reports that verify the items have been sold.

Da mammogram that includes the purchase order that was send to the purchaser, the purchaser invoice listing the benefits and quantity of items purchased , and the internal receiving reports that verify the purchased items have been sold.

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Correct Answer: A

Question No. 2

A fabricated name and the post office box that an employee uses to collect disbursements from false billings is called:

AAccomplice residence

BShell company

CPerpetrator check

DCash generator

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Correct Answer: B

Question No. 3

One reason employees might be hesitant to use PO boxes in shell company schemes is that some businesses are specially vary of sending checks to vendors that have street addresses only.

ATrue

BFalse

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Correct Answer: B

Question No. 4

What is sometimes used to overcome well-designed internal controls of a victim company?

AShell company

BFraudulent invoices

CCollusion

DRubber stamp supervisors

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Correct Answer: C

Question No. 5

Most of the shell company schemes involve the purchase of goods rather than services.

ATrue

BFalse

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Correct Answer: B

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