A perfect key to success by these CFEX exam prep

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CFEX resources - Certified Fraud Examiner (CFEX) Updated: 2024

Precisely same CFEX questions as in real test, WTF!
Exam Code: CFEX Certified Fraud Examiner (CFEX) resources January 2024 by Killexams.com team

CFEX Certified Fraud Examiner (CFEX)

A Certified Fraud Examiner (CFE) is a leader in the anti-fraud community, noted as a specialist in the prevention, detection and deterrence of fraud. CFEs represent the highest standards held by the ACFE



Before earning the CFE Credential, you are required to pass the CFE Exam. The CFE exam tests your knowledge of the four major areas that comprise the fraud examination body of knowledge:



Financial Transactions and Fraud Schemes — tests your comprehension of the types of fraudulent financial transactions incurred in accounting records. To pass Financial Transactions & Fraud Schemes, you will be required to demonstrate knowledge of the following concepts: basic accounting and auditing theory, fraud schemes, internal controls to deter fraud and other auditing and accounting matters.



Law — ensures your familiarity with the many legal ramifications of conducting fraud examinations, including criminal and civil law, rules of evidence, rights of the accused and accuser, and expert witness matters.



Investigation — includes questions about interviewing, taking statements, obtaining information from public records, tracing illicit transactions, evaluating deception and report writing.



Fraud Prevention and Deterrence — tests your understanding of why people commit fraud and ways to prevent it. Topics covered in this section include crime causation, white-collar crime, occupational fraud, fraud prevention, fraud risk assessment, and the ACFE Code of Professional Ethics.



Explanation of Certification Process

• Requirements

• Explanation of exam Process

• Investigation Techniques

• Planning the Investigation

• Interview Theory and Application

• Analysing Documents

• Data Analysis and Reporting Tools

• Computer Forensics

• Covert Examinations

• Sources of Information

• Tracing Illicit Transactions

• Reporting Standards

• Examination on Investigation Techniques

• Overview of the Legal System

• Criminal Prosecutions for Fraud

• Basic Principles of Evidence

• Individual Rights During Examinations

• Civil Justice System

• Law Related to Fraud

• Testifying as an Expert Witness

• Securities Fraud

• Money Laundering

• Bankruptcy Fraud

• Examination on Law Related to Fraud Accounting Concepts

• Financial Statement Fraud

• Consumer Fraud

• Healthcare Fraud

• Financial Institution Fraud

• Check and Credit Card Fraud

• Insurance Fraud

• Fraudulent Disbursements

• Inventory and Other Assets

• Cash Receipts

• Bribery and Corruption

• Theft of Intellectual Property

• Computer and Internet Fraud

• Public Sector Fraud

• Contract and Procurement

• Fraud Examination on Financial Transactions and Fraud Schemes

• Understanding Behaviour

• White-Collar Crime

• ACFE Code of Professional Ethics

• Managements Responsibilities

• Auditors Responsibilities

• Corporate Governance

• Fraud Prevention Programs

• Fraud Risk Assessment

• Fraud Risk Management

• Examination on Fraud Prevention and Deterrence
Certified Fraud Examiner (CFEX)
ACFE Certified resources

Other ACFE exams

CFEX Certified Fraud Examiner (CFEX)
CFE-FP-D Fraud Prevention and Deterrence
CFE-FT-FS CFE Financial Transactions and Fraud Schemes Certified Fraud Examiner
CFE-INVESTIGATIONS CFE Investigation Certified Fraud Examiner

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ACFE
CFEX
Certified Fraud Examiner (CFEX)
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Question: 167
Bank statement are diligently reviewed to ensure that amounts and signature have not
been altered, is an activity for:
A. Account analysis
B. Bank reconciliation
C. Check disbursement controls
D. Check tampering
Answer: C
Question: 168
Physical tampering prevention is a check tampering technique that is used to secure bank-
assisted controls.
A. True
B. False
Answer: B
Question: 169
A technique by which checks are numbered using a new technique that is revealed by a
colored highlighter pen or by a bright light held behind the check is called:
A. Microline numbering
B. Holographic safety border
C. Embossed pearlescent numbering
D. None of the above
Answer: B
Question: 170
In physical tampering prevention technique, hidden images can be seen only when the
check is held at an angle through:
A. High-resolution sprays
B. Holographic safety inks
C. Watermark backers
D. Chrome coloring
Answer: C
Question: 171
When employee committing the fraud removes cash from the register and also the item
allegedly being returned is debited back into the inventory, this refers to:
A. Registry destroying records
B. Register false voids
C. Fraudulent register occurrences
D. Concealing register disbursement
Answer: D
Question: 172
When employees avoid detection in a refund scheme to keep the sizes of the
disbursement low, is referred to:
A. Small disbursements
B. Very small disbursements
C. Simple disbursements
D. None of the above
Answer: A
Question: 173
One final means of concealing a register scheme, as with many kinds of fraud, is to
destroy all records of the transaction.
A. True
B. False
Answer: A
Question: 174
______________ can be detected by closely examining the documentation submitted
with the cash receipts.
A. Voided purchases
B. Fictitious refunds
C. Approved transaction
D. None of the above
Answer: B
Question: 175
Multiple cashiers operate from a single cash drawer without separate access codes is a red
flag for:
A. Fraudulent scheme
B. Disbursement scheme
C. Register scheme
D. Force inventory scheme
Answer: C
Question: 176
Maintain the presence of a manager or supervisor near the area of the cash register as a
deterrent to theft is a prevention for:
A. Fraudulent statement scheme
B. Asset misappropriation scheme
C. Larceny scheme
D. Register disbursement scheme
Answer: D
Question: 177
The scheme which reduces victim companies to issue fraudulent payments for goods or
services that they have not received is called:
A. Bogus claims
B. Billing scheme
C. Reliance billing
D. Misappropriate claims
Answer: A
Question: 178
The most common method for billing scheme is:
A. Register
B. Tips
C. Accident
D. None of the above
Answer: B
Question: 179
Which of the following is NOT the type of billing scheme?
A. Invoicing via shell companies
B. Invoicing via non-accomplice companies
C. Invoicing via accomplice companies
D. Personal purchases with company funds
Answer: C
Question: 180
In ___________ scheme, an employee creates false vouchers or submits false invoices to
the employer.
A. Sale requisition
B. Purchase requisition
C. Voucher handling
D. Cash generating
Answer: D
Question: 181
A voucher is:
A. a file that includes the purchase order that was send to the vendor, the vendor invoice
listing the cost and quantity of items purchased , and the internal receiving reports that
verify the purchased items have been delivered.
B. a figure that includes the sale order that was send to the dealer, the vendor invoice
listing the cost and quantity of items sold , and the internal receiving reports that verify
the purchased items have been delivered.
C. a report that includes the purchase order that was send to the vendor, the vendor
invoice listing the quality and quantity of items purchased , and the external receiving
reports that verify the items have been sold.
D. a mammogram that includes the purchase order that was send to the purchaser, the
purchaser invoice listing the benefits and quantity of items purchased , and the internal
receiving reports that verify the purchased items have been sold.
Answer: A
Question: 182
A fabricated name and the post office box that an employee uses to collect disbursements
from false billings is called:
A. Accomplice residence
B. Shell company
C. Perpetrator check
D. Cash generator
Answer: B
Question: 183
One reason employees might be hesitant to use PO boxes in shell company schemes is
that some businesses are specially vary of sending checks to vendors that have street
addresses only.
A. True
B. False
Answer: B
Question: 184
What is sometimes used to overcome well-designed internal controls of a victim
company?
A. Shell company
B. Fraudulent invoices
C. Collusion
D. Rubber stamp supervisors
Answer: C
Question: 185
Most of the shell company schemes involve the purchase of goods rather than services.
A. True
B. False
Answer: B
Question: 186
A shell company scheme in which actual goods or services are sold to the victim
company is known as:
A. Maintenance scheme
B. Allocation scheme
C. Distribution scheme
D. Pass-through scheme
Answer: D
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ACFE Certified resources - BingNews https://killexams.com/pass4sure/exam-detail/CFEX Search results ACFE Certified resources - BingNews https://killexams.com/pass4sure/exam-detail/CFEX https://killexams.com/exam_list/ACFE Financial Fraud

The LIBOR Scandal was a scheme in which bankers at major financial institutions such as possibly Deutsche Bank, Barclays, Citigroup, JPMorgan and Chase colluded to manipulate the London Interbank Offered Rate (LIBOR). The scandal led to a wave of fines, lawsuits, regulatory actions, and LIBOR being phased out by June 30, 2023.

Mon, 13 Jun 2022 11:59:00 -0500 en text/html https://www.investopedia.com/financial-fraud-4689710
Teacher Certification Resources

Questions about teacher certification requirements are answered on the Teacher Certification Overview page. Please carefully review this overview. If you are not able to find an answer to your question on this page, specific certification questions can be directed to Career Services. Please use the Teacher Certification Questions Form (cortland.edu/tcq).

Quick Links

Teacher Recruitment

SUNY Cortland hosts the Central New York Teacher Recruitment Day each year as part of the Central New York Career Development Association (CNYCDA) Consortium. The 2024 will be held on Wednesday, April 17, 2024 on the CareerEco virtual platform. Registration for school districts and students/alumni is live. Registration for students and alumni is free, and all are encouraged to register early to connect with school districts.

For more information and to register, please visit: Central New York Teacher Recruitment Fair.

Credential Files/ Recommendation Letters

Students and alumni looking to manage letters of recommendation (former credential files service that was discontinued in 2019) may wish to  consider: Interfolio Dossier.

Wed, 26 Mar 2014 12:11:00 -0500 en text/html https://www2.cortland.edu/offices/career-services/teacher-certification/
$22 Million Wake-up Call to Boost Security

A former Jacksonville Jaguars staff member is facing the possibility of a 30-year prison sentence after admitting guilt to financial crimes, including embezzling over $22 million from the NFL team.

Amit Patel entered a guilty plea for felony charges of wire fraud and illegal monetary transactions in the US District Court in Jacksonville. The wire fraud charge carries a maximum penalty of up to 20 years in prison, while the illegal monetary transaction charge could result in a maximum sentence of 10 years. Patel might face a 30-year incarceration and a potential fine of up to $500,000.

Patel, who was the sole administrator of the Jaguars’ virtual credit card system, allegedly perpetrated a complex scheme over four years, embezzling funds without detection. From September 2019 to February 2023, Patel reportedly used the stolen money for various personal expenses, such as online gambling, private travel, sporting tickets, a Tesla car, a Nissan pickup truck, cryptocurrency investments, and a property in Ponte Vedra Beach, Florida. Additionally, he is accused of purchasing a Patek Philippe Nautilus watch valued at over $95,000 with the profits from his scheme.

To connect this case with the broader landscape of financial fraud, an Association of Certified Fraud Examiners report reveals over 2,504 cases of financial fraud in 2022. Other notable findings from the report include:

  • Extent of Losses: Employee theft results in staggering losses of over $3.6 billion in 2022.

  • Duration of Frauds: Occupational fraud lasts 14 months before detection and causes an average loss of $8,300 per month.

  • Insufficient Internal Controls: In many cases, a lack of strong internal controls contributed to the duration of the fraud. Managers sometimes fail to adequately review transactions, accounts, or processes, allowing fraudulent activities to go undetected.

Key Takeaways: Improving Enterprise Security 

This story is an important reminder for organizations to implement strong financial controls and conduct regular audits, especially in user roles involving significant financial responsibilities.

In this case, Patel, as the sole administrator of the Jaguars’ virtual credit card system, exploited his position to embezzle millions of dollars over four years without detection.

To reduce the risk of fraud occurring in your organization, you should consider the following security measures:

  • Segregation of Duties: Ensure critical financial responsibilities are divided among individuals or teams to prevent a single person from having too much control, making it more challenging for fraudulent activities to go unnoticed. (Read more about segregation of duties and its role in mitigating fraud.)

  • Enhanced Monitoring: Implement advanced real-time monitoring tools and technologies to track financial transactions, quickly identifying anomalies or unauthorized activities.

  • Enforce Strong Access Controls: Limit access to sensitive financial systems and data only to those who require it for their job roles. Implement strong access controls, including multi-factor authentication, to prevent unauthorized access.

  • Automated Remediation: By automating control remediation processes, organizations can enhance the efficiency and speed of their response efforts, ensuring a proactive approach to security incidents.

  • User Access Reviews: Regularly conducting user access reviews is paramount for identifying and addressing any irregularities or suspicious activities within financial systems. Automated reviews enhance the accuracy of assessments and contribute to a more proactive and responsive approach to maintaining the integrity of financial systems.

  •  

Protect Yourself: Strengthening Governance

A robust governance framework is crucial for safeguarding your organization against internal threats. This framework should identify specific activities, determine necessary segregations, outline contingency plans, document procedures, and ensure implementation, allowing appropriate users to verify and review access. 

These controls should extend beyond finance processes to encompass all business operations. Failing to establish such a system exposes an enterprise to the risk of regulatory non-compliance, jeopardizes shareholder value, and erodes market confidence.

Analyzing risks and monitoring controls within critical business applications is a considerable challenge for many organizations. Traditional approaches involving manual, spreadsheet-based, or consultant-driven Segregation of Duties risk analysis and remediation can prove expensive, inefficient, and complex without automation integration. 

Additionally, there’s the added cost of external auditors validating and retesting systems. When these processes become labor-intensive and expensive, leveraging a strong access governance solution is imperative. Automation simplifies these processes, enhances risk coverage, ensures timely reporting, and enforces preventive controls.

How SafePaaS Can Help

SafePaaS’s fine-grained Access Governance platform simplifies security and mitigates the risks of financial fraud:

Segregation of Duties: The platform segregates critical financial responsibilities by implementing comprehensive policy-based access controls. It defines and enforces role-based access policies, dividing duties among individuals or teams. This prevents a single person from having excessive control over financial processes, making it more challenging for fraudulent activities to go unnoticed.

Enhanced Monitoring: The platform incorporates advanced real-time monitoring tools and technologies to track financial transactions continuously. It analyzes transactional data, swiftly identifying anomalies or unauthorized activities. The platform provides timely alerts through proactive monitoring, enabling you to respond quickly to potential security threats and fraudulent behavior.

Enforce Strong Access Controls:  Robust access controls are enforced through the platform by limiting access to sensitive financial systems and data only to authorized individuals based on your access policies. Multi-factor authentication is implemented as an additional layer of security, ensuring that only authenticated and authorized users can access critical financial resources. This minimizes the risk of unauthorized access and strengthens your security posture.

Automated Remediation: The platform automates control remediation processes, streamlining and expediting your response efforts during a security incident. Automated remediation ensures a fast and efficient resolution to security issues, reducing their impact. By automating these processes, you can proactively address security vulnerabilities and maintain high-security readiness.

User Access Reviews: The platform facilitates regular and systematic user access reviews, ensuring access privileges align with job roles and responsibilities. Automated reviews enhance the accuracy of assessments by analyzing user access rights and activities within financial systems. This proactive approach enables organizations to quickly identify and address any irregularities or suspicious activities, contributing to the integrity of their financial systems.

Access Governance and Application Controls provide a comprehensive and automated approach to managing access, monitoring activities, and responding to security incidents. By implementing these solutions, organizations can strengthen their financial controls, reduce the risk of fraud, and maintain a secure and compliant environment.

SafePaaS extends across leading financial management platforms, including SAP, Oracle E-Business Suite, Oracle  ERP Cloud, Workday, PeopleSoft, JD Edwards, and NetSuite.

By leveraging SafePaaS, organizations can streamline risk management, enhance security, and ensure compliance more efficiently and comprehensively.

Getting Access Certification Right with Governance

Make your user access certifications quick and easy. Change how you conduct access certifications by enabling process owners to participate in reviews. Conduct user access certifications instantly. 

The Role of Segregation of Duties in Fraud Prevention

Without SoD, a business may inadvertently create an environment ripe for fraud. Imagine a scenario where a single employee has the authority to both initiate and approve financial payments. In such a situation, the potential for financial misconduct, whether intentional or accidental, significantly increases.

The Power of Policy-based Access Control

Policy-based access governance offers the agility and precision needed to secure today’s complex business environments. Making access decisions based on real-time context and risk factors helps organizations stay ahead of security challenges, adapt to evolving requirements, and ensure compliance. In essence, it’s a forward-looking approach that promises to enhance security, reduce risks, and streamline access management in the digital age.

The post $22 Million Wake-up Call to Boost Security appeared first on SafePaaS.

*** This is a Security Bloggers Network syndicated blog from SafePaaS authored by Emma Kelly. Read the original post at: https://www.safepaas.com/articles/22-million-wake-up-call-to-improve-security/

Thu, 04 Jan 2024 18:09:00 -0600 by Emma Kelly on January 5, 2024 en-US text/html https://securityboulevard.com/2024/01/22-million-wake-up-call-to-improve-security/ Human Resources Professional Training

LESSON 5: COMPENSATION AND BENEFITS
Understand all the things that must be considered when designing a compensation and benefits package.
LESSON 6: EMPLOYEE HEALTH AND SAFETY
Learn the ins and outs of complying with OSHA, protecting against workplace hazards, and investigating, recording, and preventing accidents and employee illnesses.
LESSON 7: THE LEGAL ENVIRONMENT
Gain knowledge of employment law as well as an understanding of equal employment opportunity, avoiding discrimination, and what happens when an employee files an EEOC claim.
LESSON 8: MAKING HR DECISIONS
Learn how to make decisions based on various company growth strategies and how to use HRIS Software as well as job analysis as a tool for decision-making.
LESSON 9: AFFIRMATIVE ACTION
Learn the full spectrum of affirmative action, how to create an affirmative action plan, and information on the AAP you will need to know.
LESSON 10: DIVERSITY
Understand what diversity is and why it is a good thing in an organization as you learn to manage it and handle conflict.
LESSON 11: EMPLOYEE RIGHTS AND DISCIPLINE
Learn the laws that protect employee rights and privacy and how to properly monitor and document behavior and discipline employees.
LESSON 12: TERMINATION
Understand the alternatives to firing as well as how to prepare for termination including proper separation agreements as well as what to do in the event of wrongful discharge.
LESSON 13: INVESTIGATIONS
Learn why it is so important to investigate problems as well as the steps of an effective investigation including preparing, conducting, and wrapping it up.
LESSON 14: MANAGING LABOR RELATIONS
Get a quick overview of the history of unions as you learn how they work and why employees join them.
LESSON 15: CREATING A HIGH-PERFORMANCE WORKPLACE
Learn how to ask employees for input and act on it, delegate authority, keep communication open, and continuously ask for feedback as you strive to develop a high-performance workplace.
LESSON 16: GLOBAL HUMAN RESOURCES
Understand the basics of staffing strategy, cultural differences, HR in other countries, choosing global employees, and issues faced by expatriates.
LESSON 17: RETENTION
Learn the top reasons employees leave a company and how you can encourage them to stay as well as the importance of succession planning.
LESSON 18: MOTIVATION, REWARDS, AND RECOGNITION
Find out fun ways to motivate workers and gain nine strategies for creating a great rewards program.
LESSON 19: PREPARING FOR THE PHR EXAM
Gain information on externships and internships as you review the basics of the PHR exam and begin to study.

Tue, 01 Feb 2022 14:34:00 -0600 en text/html https://www.utsa.edu/pace/online/human-resources-professional-certification-training.html
Makers and Partners calls for strengthening of institutions to fight fraud No result found, try new keyword!Mr Aryee made these remarks at the Association of Certified Fraud Examiners (ACFE ... and utilised in the determination of policies and resources to limit personal influence; while regulating ... Thu, 16 Nov 2023 10:00:00 -0600 en-us text/html https://www.msn.com/ Govindayapalli Ram Mohan Rao takes charge as Sebi's executive director Sebi on Thursday said Govindayapalli Ram Mohan Rao has taken charge as an executive director and will handle the departments of investigation and internal inspection. Earlier, Rao was the regional director of the eastern regional office of Sebi (Securities and Exchange Board of India). In that role, he had supervised diverse portfolios, including inspections, setting up of investor service centres, investor awareness, and redressal of grievances.

Rao has been appointed for a period of three years. He will handle the investigation department and internal inspection department, the regulator said in a statement.


Rao is a certified fraud examiner from the Association of Certified Fraud Examiners (ACFE).
Thu, 04 Jan 2024 00:53:00 -0600 en text/html https://economictimes.indiatimes.com/markets/stocks/news/govindayapalli-ram-mohan-rao-takes-charge-as-sebis-executive-director/articleshow/106551671.cms?from=mdr
How Can Internal Control Overcome Payroll Fraud?

Establish internal controls requiring separation of payroll duties. Personnel who create or maintain payroll data and lists should not be allowed to make changes or add employees without management approval. Payroll changes should be approved by two designated individuals. People who compute pay rates and accumulated hours for payroll should not be allowed to write payroll checks or submit the hours for payment by a payroll service without supervisory approval.

Have payroll accounts reconciled monthly and reviewed by management. Audit payroll information for duplicate deposit account information and repeated Social Security numbers or addresses.

Most banks provide a positive pay service where check numbers, amounts and employee names provided by the company are checked against any incoming payroll check. If direct deposit is used exclusively, require employees to pick up their paychecks in person with photo ID at least once per year at human resources or another designated department.

Small business should consider outside sourcing of payroll to a contractor, but this does not remove the requirement for a monthly audit of all disbursements made to assure that only certified employees are being paid.

Fri, 05 Oct 2012 22:22:00 -0500 en-US text/html https://smallbusiness.chron.com/can-internal-control-overcome-payroll-fraud-56266.html
Certification Procedures


Course Measurement and Certification Procedures

Expiration/Renewal Policy

Because courses degrade over time, the USATF Road Running Technical Council decided in 1992 that all certifications would expire automatically 10 years after the year of issue. Initially, expired courses could be renewed upon testimony that the course was still in use and had not been altered. Then, in 2000, RRTC decided that such testimony is not adequate to overcome the uncertainty that inevitably creeps into every course; therefore, all courses must simply expire after 10 years, without any possibility of renewal.

The non-renewable policy adopted in 2000 was phased in over a 10-year period. That period ended at the end of 2011. All courses that were renewed at any time have expired. Expired courses are no longer renewable, but they must be re-measured in order to be recertified.

Sat, 16 Nov 2019 08:18:00 -0600 text/html https://www.usatf.org/resources/course-certification/certification-procedures
Course Certification

What is course certification?

The purpose of the USATF course certification program is to produce road race courses of accurately measured distances.

For any road running performance to be accepted as a record or be nationally ranked, it must be run on a USATF-certified course. In addition, the certification program is very important to the average road racer, as well as those of exceptional speed. Most runners like to compare performances run on different courses, and such comparisons are difficult if course distances are not reliable. No one can truly establish a personal best if the course distance is not accurate.

What is a USATF Sanction?

A USATF Sanction is an official designation issued by USATF, through a local Association, which approves and licenses the holding of a competitive track and field, long distance running, or race-walking event in the United States. USATF Sanctioned Events are provided with liability insurance. Only USATF Sanctioned Events are eligible for National and World Records.

Learn more here.

Why Do I need both?

For a road running performance to not only be accepted by USATF but recognized and ratified by USATF, the performance must have occurred on both a USATF certified course and a USATF sanctioned event. With new standards and requirements for world and national ranking, it is imperative that events have both a USATF course certification and a USATF Sanction for athletes to recognize the full benefit of running at a particular road race. While both programs work independently of one another, only events that have both a USATF course certification and a USATF Sanction are record eligible.

For athletes, check here for the list of sanctioned events to see if your next race is record eligible.

Sat, 04 Dec 2010 01:36:00 -0600 text/html https://www.usatf.org/resources/course-certification




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