ACFE CFE-Fraud-Prevention-and-Deterrence Quiz 11 Topic 2 Questions 51-55

Question: 1

During the course of a fraud examination. Stefan, an employee of Acme Inc., approaches Marten, a Certified Fraud Examiner (CFE) and fellow employee of Acme, and tells him that he knows of a major fraud being committed by the chief financial officer (CFO). However. Stefan says he can only provide details if Marten promises him absolute confidentiality. How should Marten respond?

AAgree that the information will be held in confidence, even though Marten knows it will not be

BTake Stefan's request straight to Acme Inc.'s management

CTell Stefan that he will try to keep the information as confidential as possible

DNot agree to the request for confidentiality

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Question: 2

Which of the following is NOT a purpose served by a professional organization s code of conduct?

AIt provides more direct solutions to professional ethical dilemmas than might exist under general ethical principles

BIt serves as a reference and benchmark for ethical guidance

CIt provides clear answers to all ethical dilemmas the organization s members might face

DIt facilitates practical enforcement and profession-wide internal discipline

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Question: 3

Which of the following statements regarding document retention policies (DRPs) is TRUE?

ADocument retention policies do not need to include protocols for preserving electronic documents as most IT systems automatically preserve copies of such data

BWhen establishing a document retention policy, management should consider any industry-specific rules for documenting and regaining records

CAn effective document retention policy permits the organization to continue the destruction of documents when faced with potential litigation

DAll of the above

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Question: 4

Which of the following statements about the fraud risk assessment process is MOST ACCURATE'?

ATo ensure the independence of the team members a fraud risk assessment must be conducted by a consultant or other external party.

BThe assessment team must be perceived as independent and objective by others for the assessment to be effective

CIf the individuals conducting the fraud risk assessment truly believe that fraud could not happen at the organization the assessment process should reflect that belief.

DThe fraud risk assessment is most effective when management s influence on the process is limited.

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Question: 5

A corporation can generally be held criminally responsible for criminal acts committed by its employees even if those in management had no knowledge of or participation in the underlying events.

ATrue

BFalse

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ACFE CFE-Fraud-Prevention-and-Deterrence Quiz:11 Topic:2 Questions:51-55