Question 1

Which of the following is NOT an example of a commission-based payroll fraud?

Accepted Answer

A)  Creating fictitious sales.
B)  Manipulating the number of hours worked and the rate of pay.
C)  Falsifying the value of sales made by altering prices listed on sales documents.
D)  Overstating sales by claiming sales made by another employee or in another period.

Question 2

Which of the following statements regarding larceny is NOT true?

Accepted Answer

A)  Larceny is easier to detect than skimming and is less common.
B)  Larceny occurs when employees steal cash before the amounts have been recorded in the accounting system.
C)  Smaller occurrences of larceny are often written off as "shorts" or "miscounts."
D)  Perpetrators of larcenies must have direct access to inventory or other assets.

Question 3

Larceny is easier to detect than skimming because:

Accepted Answer

A)  larceny involves stealing cash after it has already been recorded in the company's accounting system.
B)  larceny involves fraudulent disbursements of cash, while skimming involves fraudulent receipts of cash.
C)  larceny involves stealing cash as it is paid by a customer.
D)  larcenies can take place in any circumstance in which an employee has access to cash.

Question 4

Which of the following statements with reference to extortion is true?

Accepted Answer

A)  It is a crime even if the extortion message is only sent but not received.
B)  The words "pay up or else" are insufficient to constitute extortion.
C)  It is a crime even if the extortion message is sent either unwillingly or without the knowledge of the sender.
D)  An extortionate threat made to another in jest is not extortion.

Question 5

Identify the unlawful trading schemes engaged in through mutual funds.

Accepted Answer

A)  Leveraging and layering
B)  Commission fraud and speculative trading
C)  Market timing and late trading
D)  Circular trading and NAV manipulation

Question 6

Which of the payroll fraud scheme listed below tend to generate the largest losses?

Accepted Answer

A)  commission
B)  falsified hours and salary
C)  ghost employee
D)  false worker compensation

Question 7

Identify the most common conflict of interest schemes.

Accepted Answer

A)  purchase schemes and sales schemes
B)  bid-rigging schemes and kickbacks
C)  ghost employees and commission schemes
D)  false refunds and false voids.

Question 8

Identify the statement that does NOT represent one of the four types of corruption.

Accepted Answer

A)  Offering, giving, receiving, or soliciting anything of value in order to influence an official act.
B)  Overbilling the company for travel and other related business expenses, such as business lunches, hotel bills, and air travel.
C)  The employee demands a payment from a vendor in order to make a decision in that vendor's favor.
D)  The exertion of an employee's influence to the detriment of his or her company.

Question 9

Asset misappropriation is defined as:

Accepted Answer

A)  a scheme that involves offering, giving, receiving, or soliciting anything of value to influence an official act.
B)  demanding payment from a vendor in order to make or influence a decision in a vendor's favor.
C)  deceiving individuals in putting their money into a fake investment.
D)  a scheme that involves an employee prepares a fraudulent check for his or her own benefit.

Question 10

Which fraud is committed by an employee who doesn't record customer sales and pockets the payment?

Accepted Answer

A)  Larceny
B)  Disbursement
C)  Skimming
D)  Illegal gratuities

Exam 14: Fraud Against Organizations

Which of the payroll fraud scheme listed below tend to generate the largest losses?

Correct Answer
verified

Which of the following is NOT an example of a commission-based payroll fraud?

Correct Answer
verified

Which fraud is committed by an employee who doesn't record customer sales and pockets the payment?

Correct Answer
verified

Asset misappropriation is defined as:

Correct Answer
verified

Larceny is easier to detect than skimming because:

Correct Answer
verified

Which of the following statements regarding larceny is NOT true?

Correct Answer
verified

Identify the unlawful trading schemes engaged in through mutual funds.

Correct Answer
verified

Which of the following statements with reference to extortion is true?

Correct Answer
verified

Identify the statement that does NOT represent one of the four types of corruption.

Correct Answer
verified

Identify the most common conflict of interest schemes.

Correct Answer
verified

Exam 14: Fraud Against Organizations

Which of the payroll fraud scheme listed below tend to generate the largest losses?

Correct AnswerverifiedShow Answer

Which of the following is NOT an example of a commission-based payroll fraud?

Correct AnswerverifiedShow Answer

Which fraud is committed by an employee who doesn't record customer sales and pockets the payment?

Correct AnswerverifiedShow Answer

Asset misappropriation is defined as:

Correct AnswerverifiedShow Answer

Larceny is easier to detect than skimming because:

Correct AnswerverifiedShow Answer

Which of the following statements regarding larceny is NOT true?

Correct AnswerverifiedShow Answer

Identify the unlawful trading schemes engaged in through mutual funds.

Correct AnswerverifiedShow Answer

Which of the following statements with reference to extortion is true?

Correct AnswerverifiedShow Answer

Identify the statement that does NOT represent one of the four types of corruption.

Correct AnswerverifiedShow Answer

Identify the most common conflict of interest schemes.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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