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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Asset Misappropriation – Cash Disbursements | 10–15% | - Check and payment tampering - Billing schemes - Expense reimbursement schemes - Payroll schemes |
| Topic 2: Corruption Schemes | 5–10% | - Conflicts of interest - Illegal gratuities and extortion - Bribery and kickbacks |
| Topic 3: Financial Statement Fraud | 10–15% | - Timing and disclosure manipulations - Expense and liability understatements - Detection and red flags - Revenue and asset overstatements |
| Topic 4: Asset Misappropriation – Non-Cash Assets | 5–10% | - Inventory and equipment theft - Concealment techniques - Misuse of assets |
| Topic 5: Industry-Specific Financial Crimes | 15–25% | - Healthcare fraud - Insurance fraud - Cyber-enabled and cryptocurrency fraud - Real estate and securities fraud - Financial institution fraud |
| Topic 6: Identity Theft | 1–5% | - Prevention and detection - Types and techniques |
| Topic 7: Asset Misappropriation – Cash Receipts | 5–10% | - Cash larceny schemes - Prevention and detection methods - Cash skimming schemes |
| Topic 8: Theft of Data and Intellectual Property | 5–10% | - Corporate espionage - Data and IP theft methods - Safeguarding proprietary information |
| Topic 9: Accounting Concepts | 5–10% | - Internal control fundamentals - Financial statements structure - Basic accounting principles - Recording and summarizing transactions |
The most basic skimming scheme occurs when:
Correct Answer: B 🗳️
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__________ means that traditional bribery statutes proscribe only payments made to influence the decisions of government agents or employees.
Reveal Solution Discussion 0Correct Answer:
Commercial bribery
* Rationale for Correct Answer: Traditional bribery laws historically applied only to government officials . When bribery occurs in the private sector (commercial setting), it is known as commercial bribery . Modern laws and internal company codes address this as well.
* Key Concept: Commercial bribery vs. government bribery.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Corruption - Commercial Bribery .
Maria manages the procurement function for ABC Co., which uses a competitive sealed bidding process for its larger projects. Maria receives payment from a company that frequently bids on ABC's projects in exchange for providing solicitation specifications before the solicitation is published to the public. Maria is engaging in which of the following procurement fraud schemes?
Correct Answer: B 🗳️
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The prime targets for skimming schemes, which are hard to monitor and predict such as late fees and parking fees, are:
Correct Answer: A 🗳️
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Which of the following statements about skimming is CORRECT?
Correct Answer: C 🗳️
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