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ACFE Certified Fraud Examiner Sample Questions:
1. Which of the following is the MOST ACCURATE statement about the different types of alternative dispute resolution'?
A) The agreements reached in mediations are generally nonbinding.
B) The decisions reached in all arbitrations are always binding
C) In an arbitration proceeding the arbitrator acts as a judge or jury by deciding the dispute at issue on its merits
D) In a mediation session, the mediator decides who should win the dispute at issue
2. Under the Financial Action Task Force (FATF) Recommendations, a financial institution's customer due diligence (CDD) procedures involve a single check on the customer's business relationships and transactions.
A) True
B) False
3. In common law jurisdictions, which of the following scenarios would MOST LIKELY result in sanctions for an organization for failing to preserve evidence?
A) An employee unintentionally alters a digital document that is not directly relevant to any potential litigation that the company has announced to its staff.
B) An employee accidentally deletes a digital document that is relevant to litigation after the company announces that such litigation is a possibility.
C) An employee intentionally destroys a relevant document prior to the company announcing the possibility of litigation.
D) An employee abstains from destroying a document relevant to an ongoing proceeding even though this act violates the company's document retention policy.
4. Countries A and B both follow the Financial Action Task Force (FATF) Recommendations concerning cross- border transfers of currency Trevor is traveling from Country A to Country B while carrying $16,000 in cash which exceeds Country B's reporting threshold Trevor is required to disclose the amount of currency he is carrying to authorities in Country B.
A) True
B) False
5. Management at ABC Org. suspects that Marcia, an employee in charge of negotiating vendor contracts, has a conflict of interest. For ABC Org.'s conflict-of-interest claim to be actionable, which of the following scenarios must be TRUE?
A) Marcia must have informed the organization that she had a connection to one or more of the vendors with whom she was negotiating.
B) The alleged conflict must have resulted in a direct personal benefit for Marcia.
C) The alleged conflict must have resulted in a financial loss for the organization.
D) Marcia must have failed to disclose that she had a personal or economic interest in a matter that could influence her professional role.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: D |

