Free ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Dumps Questions & Answers

Over two weeks, Samuel visits his financial institution multiple times and purchases bearer instruments with cash for amounts that are just under the mandatory reporting requirements for his jurisdiction. The financial institution's employees suspect that Samuel might be engaging in money laundering activity. Which of the following statements is TRUE if the jurisdiction's anti-money laundering regulations follow the Financial Action Task Force (FATF) Recommendations?

• A.  The financial institution is not required to file a report of suspicious transactions with the appropriate authorities because bearer instruments were involved.
• B.  The financial institution is not required to file a report of suspicious transactions related to potential criminal activity because the amounts were below reporting requirements.
• C.  The financial institution is required to file a cash transaction report for possible criminal activity with the appropriate authorities because cash was involved.
• D.  The financial institution is required to file a report of suspicious transactions with the appropriate authorities because the employees suspect money laundering violations.

____________ is a process by which a bookkeeper records all transactions and can adjust the books.

• A.  None of all
• B.  Financial statement
• C.  Journal Entries
• D.  Accounting Cycle

Which of the following is NOT a medium that commonly causes an organization's proprietary information to be compromised?

• A.  Information displayed at an employee's workstation
• B.  Speeches made by executives
• C.  Reports to company shareholders
• D.  Documents that were shredded using a cross-cut shredder

Which of the following is the MOST ACCURATE statement about the phases of procurements involving open and free competition among contractors?

• A.  In the solicitation phase, the procuring entity identifies its needs and develops the criteria used to award the contract.
• B.  In the bid evaluation and award phase, the procuring entity issues the solicitation document.
• C.  In the presolicitation phase, prospective contractors prepare and submit their bids.
• D.  In the post-award and administration phase, the parties that were contracted perform their contractual obligations.

Which of the following is a recommended activity that organizations should engage in to protect their proprietary information from threats?

• A.  Practicing data minimization to limit the information available during a data breach
• B.  Prohibiting all nonemployees from entering the organization's premises
• C.  Storing devices that contain sensitive data in specially constructed quiet rooms
• D.  Enlisting a company task force to identify the information security practices of competitors