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

Questions 4

A fraud examiner is based in Mexico, a non-European Union (EU) country, and is collecting personal information from their company's human resources (HR) files about an employee based in Germany, an EU country. Based on these facts, the fraud examiner would need to comply with the EU"s General Data Protection Regulation (GDPR) when conducting their internal investigation.

Options:

A.

True

B.

False

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Questions 5

Andrew wants to use a confidential informant in his investigation. He plans to compensate the informant with cash and obtain a receipt. He also plans to identify his source in a memorandum and his final report using only the informant's initials. Which of Andrew's plans is NOT considered a best practice when using an informant?

Options:

A.

Referring to the informant in the memorandum using the informant's initials

B.

Using information from the informant in his final report

C.

Creating a receipt regarding the cash payment

D.

Compensating the informant with cash

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Questions 6

Which of the following is a common characteristic that asset hiders look for in the financial vehicles they use to conceal their assets?

Options:

A.

Accessibility

B.

Transparency

C.

Exclusivity

D.

Traceability

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Questions 7

Misty, a fraud investigator, is interviewing Larry, who she suspects has been embezzling company funds. Which of the following is NOT a recommended sequence in which Misty should ask Lam/ questions?

Options:

A.

Ask questions in random order to prevent Larry from knowing what question comes next.

B.

Start with questions about known information and work toward unknown information

C.

Start with general questions and move toward specific questions

D.

Ask questions seeking general information before seeking details

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Questions 8

Bobbie, a fraud examiner, is preparing to interview Craig, a close friend and coworker of the primary suspect in the case. Craig has been described by others as "easily angered" and "intense" How should Bobbie approach her interview of Craig?

Options:

A.

Provide Craig with plenty of notice prior to the interview to not provoke resentment

B.

Conduct the interview with as little notice as possible so Craig will be unprepared

C.

Ask Craig when ho would prefer to be interviewed in an effort to engender cooperation

D.

Avoid interviewing Craig if possible due to Craig's potential volatility

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Questions 9

Gilbert is preparing to conduct a covert investigation. Before acting, he wants to wnte a memorandum documenting his plan. Which of the following pieces of information should he include in this memorandum?

Options:

A.

The information expected to be gained from the operation

B.

The identities of any confidential sources to be used in the operation

C.

His first impression regarding the subject's culpability

D.

All of the above

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Questions 10

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 11

Which of the following is the MOST ACCURATE statement regarding the analysis phase in digital forensic investigations?

Options:

A.

When analyzing data for evidence, fraud examiners should look for exculpatory evidence But not inculpatory evidence

B.

During the analysis phase, it is best to use just one forensic tool for identifying, extracting, and collecting digital evidence

C.

The primary concern when analyzing digital evidence is to maintain the integrity of the data at all times

D.

The analysis phase of digital forensic investigations should not commence unless it is venfied that the suspect devices do not contain relevant data

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Questions 12

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 13

Jana. the controller of XYZ Company, notices that the company's hotel expenses increased substantially from the prior year She wants to check to see if this increase is reasonable by comparing hotel expenses from both years to the number of days XYZ"s employees traveled. Which of the following data analysis functions would be the MOST USEFUL in helping Jana analyze these two variables?

Options:

A.

Correlation analysis

B.

Duplicate testing

C.

Verifying multiples of a number

D.

Ben ford’s Law analysis

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Questions 14

If you are seizing a computer for forensic analysis, why is it generally necessary to seize any copiers connected to it?

Options:

A.

Many copiers connect via parallel cables, which store and transmit copy job data.

B.

Most copiers store, process, and transmit data m a cloud environment

C.

Many copiers have internal hard drives that might contain information relevant to a fraud examination

D.

Most copiers today are nonimpact copiers, meaning that they store copied images indefinitely.

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Questions 15

Which of the following is a factor that fraud examiners should consider when determining whether to dispose of evidence following the conclusion of a fraud examination?

Options:

A.

Whether the information was presented by a lay witness or an expert witness

B.

Whether the evidence is documentary or testimonial

C.

Whether the evidence is direct or circumstantial

D.

Whether the organization has a general document retention policy in place

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Questions 16

Barnes, a Certified Fraud Examiner (CFE). is using data analysis to identify anomalies that might indicate fraud in XYZ Company's accounts payable transactions. Which of the following is the MOST EFFECTIVE data analysis function that Barnes could use to look for potential fraud in accounts payable?

Options:

A.

Compare book and tax depreciation and indicate variances

B.

Identify paycheck amounts over a certain limit

C.

Review recurring monthly expenses and compare to posted/paid invoices

D.

All of the above

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Questions 17

Which of the following is a measure that can help avoid alerting suspected perpetrators who are under investigation?

Options:

A.

Terminate the suspected employee.

B.

Notify everyone in the affected department

C.

Delay taking any action.

D.

Inform only those who need to know.

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Questions 18

Anne used Will as a confidential informant in her investigation Anne listed information provided by Will in her final report, referring to him using his initials. She paid Will in cash and obtained a receipt for the transaction. Which of Anne's methods was NOT considered a best practice when using informants?

Options:

A.

Referring to Will using his initials

B.

Obtaining a receipt from Will

C.

Using information provided by Will in her report

D.

Using cash to pay Will

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Questions 19

When reporting the results of a fraud examination, it is BEST to include copies (not originals) of important documents in the formal report.

Options:

A.

True

B.

False

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Questions 20

Which of the following situations would MOST LIKELY require access to nonpublic records to develop evidence?

Options:

A.

Finding out where a person lives

B.

Reviewing an individual's personal mobile phone records

C.

Obtaining a company's business filings

D.

Determining who owns a piece of real estate

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Questions 21

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 22

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

Options:

A.

Once a criminal case is filed, all records obtained by the government are considered public records

B.

Nonpublic records cannot be obtained by subpoena or legal order in a civil action

C.

In most junsdictions. banks are allowed to turn over a suspect's account information directly to a fraud victim when there is adequate evidence of wrongdoing.

D.

The government usually will not share nonpublic records with a fraud victim during an investigation into the underlying fraud.

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Questions 23

Which of the following is the LEAST ACCURATE statement about seizing a computer for examination?

Options:

A.

When taking a computer for examination, if the computer is off. it should remain off when it is removed.

B.

When seizing a computer that is running, it is acceptable for a fraud examiner to review the files contained on the machine prior to seizing it.

C.

Before removing a computer system from a scene for further analysis, it is important to document the system's setup with photographs or diagrams.

D.

When seizing a computer for examination, the seizing party should took around the area for passwords because many people leave passwords near their computers

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Questions 24

Christopher, a fraud examiner, is conducting an admission-seeking interview with Jennifer, an employee suspected of stealing cash. Which of the following is the LEAST EFFECTIVE phrasing for Christopher to use when posing an admission-seeking question to Jennifer?

Options:

A.

"Did you steal the money?"

B.

'What did you do with the money?"

C.

"Why did you take the money?"

D.

"How much of the money do you have left?"

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Questions 25

Eugene is conducting an admission-seeking interview of a suspect. During the interview, the suspect frequently looks away from Eugene while responding to questions. Eugene can safely conclude that the suspect is dishonest due to his failure to maintain eye contact.

Options:

A.

True

B.

False

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Exam Code: CFE-Investigation
Exam Name: Certified Fraud Examiner (CFE) - Investigation
Last Update: Jun 14, 2024
Questions: 170

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