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CFE-Investigation Certified Fraud Examiner (CFE) - Investigation Questions and Answers

Questions 4

Which of the following BEST describes the data analytics approach known as predictive analytics?

Options:

A.

The configuration of a business program to emulate and Integrate the actions of a human to execute certain business processes, thus increasing efficiency and automating repetitive manual tasks

B.

The use of historical data, along with analyses, statistics, and machine learning components, to build a mathematical model that captures important trends and creates a quantitative forecast

C.

The employment of computer systems to perform human-like tasks such as visual perception and decision-making

D.

The use of layered artificial neural networks to accommodate more data and more sophisticated algorithms to identify complex patterns

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Questions 5

During an interview, Alex asked a fraud suspect if he could retrieve the suspect's account records from her bank. The suspect said, "yes." but she did not provide consent in writing Although the suspect orally consented, the suspect's bank is NOT required to allow Alex to access the suspect's account records at this point.

Options:

A.

True

B.

False

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Questions 6

Charles, a fraud examiner, accuses George of fraud during an admission-seeking interview. George immediately denies the charge How should Charles respond to George's denial?

Options:

A.

Counter the denial by arguing with George until further denials are futile

B.

Use a delaying tactic to interrupt the denial

C.

Remind George he has to tell the truth or face perjury.

D.

Allow George to continue denying the charge.

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Questions 7

Marilyn, a Certified Fraud Examiner (CFE). is reasonably sure that Shelly, her primary suspect, committed the fraud in question Before scheduling an admission-seeking interview with Shelly. Marilyn should be reasonably sure of all of the following EXCEPT:

Options:

A.

That all reasonable investigative steps have been taken

B.

That the interview's time and location can be controlled

C.

That no other person was involved in the fraud in question

D.

That the interview's subject matter can be controlled

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Questions 8

A fraud examiner contacts a witness regarding an interview. If the respondent says. ‘I’m too busy." how should the fraud examiner react?

Options:

A.

Explain that the respondent will be subject to discipline if they do not participate

B.

Stress that the interview will be short.

C.

Caution the witness that avoidance of the interview will be considered suspicious.

D.

Inquire about a more convenient time

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Questions 9

Which of the following is the MOST IMPORTANT question for a fraud examiner to ask before commencing a legal action to recover assets?

Options:

A.

"Has the defendant been previously arrested for allegedly committing a white-collar crime?"

B.

"Does the defendant have sufficient property or money to satisfy a money judgment?"

C.

"Is there a relevant statute of limitations?"

D.

"Is the suspect guilty of the fraudulent act?"

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Questions 10

Tony, a fraud examiner, believes that vendors might be submitting multiple invoices for the same sales with the hope that they will be paid more than once. He wants to ensure that no two invoices in the system have the same number. Which of the Mowing data analysis functions would be most useful for this test?

Options:

A.

Duplicate search

B.

Benford's Law analysis

C.

Correlation analysis

D.

Linear regression

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Questions 11

Due to risks of illicit transactions, most jurisdictions require financial institutions to obtain information about which of the following from an institution with which they have a foreign correspondent relationship?

Options:

A.

The institution's branch addresses

B.

The institution's licenses or certifications

C.

The institution's tax statements

D.

The institution's client loan profiles

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Questions 12

Which of the following statements about the process of obtaining a verbal confession is TRUE?

Options:

A.

The only acceptable approaches to obtaining a verbal confession are chronologically or by transaction

B.

The transition from the accusation to the confession should occur when the accused supplies the first detailed information about the offense.

C.

If the subject lies about an aspect of the offense in the process of confessing, it is best to correct the records immediately before proceeding

D.

Fraudsters tend to overestimate the amount of funds involved in the offense to relieve themselves of the guilt of their dishonest actions.

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Questions 13

Baker, a Certified Fraud Examiner (CFE). is getting prepared to conduct a lengthy and complex interview. To prepare himself. Baker should:

Options:

A.

Writs down a detailed list of questions in advance

B.

Avoid bringing any notes with him to the interview

C.

Write down key points to go over with the respondent

D.

Take only the documents he wishes to go over

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Questions 14

Scarlett, a Certified Fraud Examiner (CFE), is conducting an admission-seeking interview of Plum, a fraud suspect. After Scarlett defused Plum's alibis. Plum became withdrawn and slowly began to slouch in her chair, bowing her head. What should Scarlett do now?

Options:

A.

Discourage Plum from showing any emotion.

B.

Remain silent until Plum makes a confession.

C.

Insist that Plum sit up straight in her chair

D.

Continue to display evidence that implicates Plum

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Questions 15

Which of the following is the MOST ACCURATE statement about the privacy of information shared through social media?

Options:

A.

To access any user-posted information on social media sites, fraud examiners must obtain some type of legal order from the jurisdiction in which the user resides.

B.

A fraud examiner cannot be held liable for violating a user's privacy rights if they hack or break into areas of a social networking site designated as private because all social media information is public.

C.

The Privacy of Social Networks Treaty is a binding international treaty that makes it illegal for law enforcement to seek social media log-in credentials from users.

D.

Hacking or breaking into information on social media sites that is restricted as private could result in liability for fraud examiners due to violation of users' privacy rights.

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Questions 16

Which of the following statements concerning access to nonpublic records is FALSE?

Options:

A.

When civil litigation has commenced, a party often may obtain a subpoena or legal order for an individual's relevant bank records.

B.

A fraud examiner can request a business's bank records even if the business is not legally obligated to comply.

C.

An audit clause can be designed to allow a party to inspect the books of a business partner or vendor.

D.

During the government's criminal investigation, a fraud examiner not employed by the government has a right to access relevant documents that the government has obtained.

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Questions 17

Marcus is trying to locate the financial statements of Acme Airlines, a multinational publicly traded corporation. Which of the following sources would be MOST EFFECTIVE for finding this information?

Options:

A.

Commercial filings

B.

Civil litigation records

C.

Organizational filings

D.

Regulatory securities records

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Questions 18

Shane, a Certified Fraud Examiner (CFE). is investigating Larsen. who is active on various social networking sites. Shane wants to search and extract information from Larson's social media postings so that it can be used in court as evidence Which of the following is the MOST ACCURATE statement regarding what Shane should do when conducting a social media investigation of Larsen?

Options:

A.

Shane should conduct a forensic shutdown of his computer to preserve the metadata in the social networking sites.

B.

Shane should preserve the information from the social networking sites so that it can be established as authentic if used in court.

C.

Shane should email himself the links of the postings so that he can retrieve them later.

D.

Shane should preserve the information by saving the links of the postings in his 'bookmarks"

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Questions 19

Steve, a Certified Fraud Examiner (CFE). was interviewing Michelle, a fraud suspect. Dunng the first part of the interview. Michelle was attentive. However, when he asked her more direct questions about the fraud, she suddenly seemed unconcerned, alternately chewing on her pen cap and picking at a loose piece of fabric on the arm of her chair. From this conduct. Steve is likely to conclude that Michelle

Options:

A.

Is feeling bored by the interview process

B.

Is being deceptive

C.

Does not know the answers to Steve's questions

D.

Is telling the truth

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Questions 20

Which of the following is the MOST APPROPRIATE measure when seeking to avoid alerting suspected perpetrators who are under investigation?

Options:

A.

Terminate the suspected employee.

B.

Delay taking any action.

C.

Investigate during nonbusiness hours.

D.

Disclose the investigation to all employees

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Questions 21

A law enforcement officer receives a reliable tip from an informant that a government employee is soliciting bribes in exchange for awarding contracts to the employee's agency. To investigate, the officer poses as a potential contractor and contacts the suspect employee about the possibility of getting a contract with the agency. During the conversation, the suspect demands a cash payment for the officer to be considered for upcoming contracts. If the suspect claims entrapment at trial, then which of the following is MOST LIKELY to occur?

Options:

A.

The suspect's claim will succeed because the investigator used deceit

B.

The suspect's claim will succeed because the investigator lacked probable cause

C.

The suspect's claim will fail because the investigator had adequate predication

D.

The suspect's claim will fail because the investigator is a law enforcement agent

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Questions 22

Which of the following is NOT true about observing the reactions of interview subjects?

Options:

A.

The interpretation of an interview subject's reactions requires specific skills on the part of the interviewer.

B.

The observation of a subjects body language is often just as important as the observation of the words used by the subject.

C.

Emotive words should be used early in the interview to observe the respondents emotional reaction.

D.

To effectively observe reactions, an interviewer should move from less sensitive to more sensitive questions as the interview progresses.

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Questions 23

Arnold, a Certified Fraud Examiner (CFE) for Integra Wealth, learns that Elizabeth, an accounts payable clerk, recently purchased an expensive ski boat Arnold also knows that Elizabeth recently purchased a vacation home on a nearby lake Arnold has sufficient predication to:

Options:

A.

Notify management of the possibility that Elizabeth has committed fraudulent acts

B.

Search Elizabeth's mobile phone for evidence of misconduct.

C.

Accuse Elizabeth directly of having committed fraud

D.

Conduct discreet inquiries into Elizabeth's responsibilities as an accounts payable clerk

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Questions 24

Which of the following can be obtained from a wire transfer record?

Options:

A.

The name of the receiving institution's registered agent

B.

The recipient's government identification number

C.

The name of the sender or originator

D.

The sending institution's accreditation type

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Questions 25

Which of the following is a reason why a subject's credit card records and statements can be useful in tracing investigations?

Options:

A.

Credit card records can provide leads to help identify a subjects hidden assets

B.

Credit card records can show signs that the subject has skimmed funds.

C.

Credit card statements show the source of the funds used to pay a credit card bill.

D.

Credit card statements provide insight into the subject's litigation history

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Exam Code: CFE-Investigation
Exam Name: Certified Fraud Examiner (CFE) - Investigation
Last Update: Dec 2, 2024
Questions: 170
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