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  • Exam Name: Certified Fraud Examiner (CFE) - Investigation
  • Last Update: Jul 23, 2024
  • Questions and Answers: 170
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CFE-Investigation Practice Exam Questions with Answers Certified Fraud Examiner (CFE) - Investigation Certification

Question # 6

Which of the following is one of the purposes of closing questions in a routine interview?

A.

To close the interview positively and maintain goodwill

B.

To assess whether the subject is ready to confess

C.

To confirm the credibility of the witness being interviewed

D.

To reduce testimony to a signed, written statement

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Question # 7

Tonya, a suspect in a kickback scheme, is being interviewed by Carlos, a fraud examiner. As the interview progresses. Carlos notices that Tonya is exhibiting signs of stress, such as repeatedly touching her face, crossing and uncrossing her legs, and darting her eyes around the room Carlos should conclude that Tonya's behavior is the result of deception

A.

True

B.

False

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Question # 8

Which of the following can be obtained from a wire transfer record?

A.

The amount of the transfer in question

B.

The type of money order used to make the transfer

C.

The location of the customs port of entry for the transfer

D.

The recipient's government identification number

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Question # 9

Charles, a fraud examiner, accuses George of fraud during an admission-seeking interview. George immediately denies the charge How should Charles respond to George's denial?

A.

Counter the denial by arguing with George until further denials are futile

B.

Use a delaying tactic to interrupt the denial

C.

Remind George he has to tell the truth or face perjury.

D.

Allow George to continue denying the charge.

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Question # 10

During an interview with Alice, a suspect in an embezzlement case, the interviewer observes several signs of stress in Alice's behavior, such as shifting around in her chair, exhibiting shallow breathing, and occasionally stuttering during her replies. The interviewer should conclude that these symptoms are caused by deception.

A.

True

B.

False

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Question # 11

Vishal, a Certified Fraud Examiner (CFE). has just initiated an interview with Steve, a fraud suspect. After a short introduction. Vishal jokes about the fact that he and Steve are wearing the same tie and then proceeds to ask Steve about the previous night's major sporting event Vishal is attempting to

A.

Establish the interview theme

B.

Condition the witness.

C.

Establish rapport

D.

Exhibit passive listening.

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Question # 12

Lisa, a fraud examiner at a private company, receives an anonymous call from a potential whistleblower. The whistleblower is hesitant to reveal their identity but will do so if it can be Kept fully confidential. Which of the following statements is MOST ACCURATE?

A.

Lisa may offer the whistleblower full confidentiality because they are not a suspect

B.

Lisa should explain that she will try her best to keep the whistleblower"s identity confidential.

C.

Lisa should state that she will not be able to keep the whistleblower's identity confidential because all information must be disclosed to management

D.

Lisa may promise the whistleblower full confidentiality, even if she knows her statement is untrue, because the lie is ultimately beneficial to her employer.

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Question # 13

Which of the following BEST describes the data analytics approach known as predictive analytics?

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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Question # 14

Which of the following data is the MOST DIFFICULT to recover during a digital forensic examination?

A.

Time and date information about files

B.

Websites visited

C.

Files that have been overwritten

D.

Communications sent via instant messenger

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Question # 15

Which of the following is NOT true about observing the reactions of interview subjects?

A.

The interpretation of an interview subject's reactions requires specific skills on the part of the interviewer.

B.

The observation of a subjects body language is often just as important as the observation of the words used by the subject.

C.

Emotive words should be used early in the interview to observe the respondents emotional reaction.

D.

To effectively observe reactions, an interviewer should move from less sensitive to more sensitive questions as the interview progresses.

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Question # 16

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

A.

When civil litigation has commenced, a party often may obtain a subpoena or legal order for an individual's relevant bank records.

B.

A fraud examiner can request a business's bank records even if the business is not legally obligated to comply.

C.

An audit clause can be designed to allow a party to inspect the books of a business partner or vendor.

D.

During the government's criminal investigation, a fraud examiner not employed by the government has a right to access relevant documents that the government has obtained.

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Question # 17

Which of the following is the MOST IMPORTANT question for a fraud examiner to ask before commencing a legal action to recover assets?

A.

"Has the defendant been previously arrested for allegedly committing a white-collar crime?"

B.

"Does the defendant have sufficient property or money to satisfy a money judgment?"

C.

"Is there a relevant statute of limitations?"

D.

"Is the suspect guilty of the fraudulent act?"

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Question # 18

Rachel, a fraud suspect, has decided to confess to Linda, a Certified Fraud Examiner (CFE). In obtaining a verbal confession from Rachel. Linda should obtain all of the following items of information EXCEPT:

A.

The approximate beginning and end dates of the fraud

B.

A statement from Rachel that her conduct was an accident

C.

A general estimate of the amount of money involved

D.

Rachel's motive for the offense

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Question # 19

Shane, a Certified Fraud Examiner (CFE). is investigating Larsen. who is active on various social networking sites. Shane wants to search and extract information from Larson's social media postings so that it can be used in court as evidence Which of the following is the MOST ACCURATE statement regarding what Shane should do when conducting a social media investigation of Larsen?

A.

Shane should conduct a forensic shutdown of his computer to preserve the metadata in the social networking sites.

B.

Shane should preserve the information from the social networking sites so that it can be established as authentic if used in court.

C.

Shane should email himself the links of the postings so that he can retrieve them later.

D.

Shane should preserve the information by saving the links of the postings in his 'bookmarks"

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Question # 20

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.

A.

True

B.

False

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Question # 21

Martin, a fraud examiner, is conducting an interview of Stephanie, a fraud suspect. Although Stephanie heard all of the questions during the introductory part of the interview, she began asking Martin to repeat almost every question when they became more focused If Stephanie is being deceptive, which of the choices below is MOST LIKELY the cause of Stephanie's behavior?

A.

Stephanie is testing Martin to determine whether he is able to ask consistent questions

B.

Stephanie is trying to make sure she understands the question so that she will not make a misstatement.

C.

Stephanie is delaying the answer so that she has more time to think of what to say.

D.

Stephanie is having trouble recalling the events or details related to Martin's questions.

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Question # 22

Which of the following is the MOST IMPORTANT question for a fraud examiner to ask before commencing a legal action to recover assets?

A.

"Is there a relevant statute of limitations9"

B.

"Does the suspect already have a criminal record?"

C.

"Is the suspect guilty of the fraudulent act?''

D.

"Are nonlegal recovery methods or remedies available?''

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Question # 23

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:

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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Question # 24

Steve, a Certified Fraud Examiner (CFE). was interviewing Michelle, a fraud suspect. Dunng the first part of the interview. Michelle was attentive. However, when he asked her more direct questions about the fraud, she suddenly seemed unconcerned, alternately chewing on her pen cap and picking at a loose piece of fabric on the arm of her chair. From this conduct. Steve is likely to conclude that Michelle

A.

Is feeling bored by the interview process

B.

Is being deceptive

C.

Does not know the answers to Steve's questions

D.

Is telling the truth

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Question # 25

Lmdsey, a Certified Fraud Examiner (CFE). has been retained to investigate allegations of bribery and kickbacks allegedly committed by a member of an organization's procurement department. Lindsey conducts an interview during which one of the accused's colleagues states that they overheard the accused discussing a free tnp received from one of the organization's vendors. Which type of evidence would the interviewee's statement be considered?

A.

Documentary evidence

B.

Testimonial evidence

C.

Verbal evidence

D.

Inconclusive evidence

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Question # 26

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

A.

True

B.

False

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Question # 27

Gamma, a Certified Fraud Examiner (CFE>, was conducting an admission-seeking interview of Delta, a fraud suspect. Gamma tells Delta, "It isn't like you took something from a friend or neighbor I can see how you could say. 'Well, this would be okay as long as it is the company and not my coworkers.' Isn't that right?" This technique seeks to establish rationalization by:

A.

Convincing DDU that the incident had suffcinet justification

B.

Reducing Delta's perception of the legal seriousness of the matter

C.

Depersonalizing the victim

D.

Developing revenge as a motive

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Question # 28

Martin is a fraud examiner. He contacts Dianne for the purpose of conducting a routine, information-gathering interview. Dianne says that she wants her coworker. Sheila, whom Martin also plans to interview, to be present during the interview. Martin should:

A.

Interview Dianne and Sheila separately

B.

Allow Sheila to be present but only if she does not speak

C.

Interview Dianne and Sheila together by himself

D.

Interview Dianne and Sheila together, but bring in a second interviewer

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Question # 29

Gunn, a Certified Fraud Examiner (CFE). was hired to trace Kelly's financial transactions. During his investigation. Gunn obtains records of electronic payments that Kelly made during the past three years. Which of the following are these records MOST LIKELY to reveal?

A.

If Kelly has been skimming funds

B.

The cities and countries in which Kelly conducts business

C.

The division and distribution of Kelly's assets

D.

The market value of any real property Kelly owns

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Question # 30

Which of the following statements about how fraud examiners should approach fraud examinations is FALSE?

A.

In most examinations, fraud examiners should start interviewing the least involved candidates and proceed toward those who are potentially more involved.

B.

When conducting fraud examinations, fraud examiners should start with specific details and move toward more general information.

C.

When conducting fraud examinations, fraud examiners should adhere to the fraud theory approach.

D.

When conducting fraud examinations, fraud examiners should begin with general information that is known and then move to the more specific details.

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Question # 31

All of the following are true with regard to textual analytics EXCEPT:

A.

When conducting textual analysis, the fraud examiner should come up with a list of fraud keywords to search for.

B.

Textual analytics is used to reveal patterns, sentiments, and relationships indicative of fraud

C.

The purpose of textual analytics is to search for and find an admission of fraud that can be presented in court

D.

Textual analytics provides the ability to uncover warning signs of potentially fraudulent employee behavior

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Question # 32

Why do fraud examiners perform analysis on unstructured, or textual, data?

A.

To determine whether the footnotes to the financial statements are fairly presented

B.

To find an admission of fraud m an email or other communication that can be presented in court

C.

To categorize data to reveal patterns, sentiments, and relationships indicative of fraud

D.

To figure out whether someone is lying or telling the truth based on context duet

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Question # 33

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

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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Question # 34

Leslie, a fraud examiner for ACME Corporation, suspects that a salesperson for another company has defrauded ACME. Leslie wants to obtain a copy of the suspect individual's credit report and personal data from a third-party information broker If Leslie works in a jurisdiction that regulates the distribution of personal credit information, she generally can obtain the information if she has the consent of the individual.

A.

True

B.

False

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Question # 35

A fraud examiner is based m the United States, a non-European Union (EU) country, and is collecting personal information from their company's human resources (HR) files about an employee based in Spain, 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.

A.

True

B.

False

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Question # 36

Which of the following statements about fraud response plans is FALSE?

A.

A fraud response plan outlines the actions an organization will take when suspicions of fraud have arisen.

B.

A fraud response plan should create an environment to minimize risk and maximize the potential for success

C.

A fraud response plan must be simple to understand and administer

D.

A fraud response plan should specify how every fraud examination should be conducted regardless of the type of fraud

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Question # 37

Which of the following types of data is BEST suited for a BenfordTs Law analysis?

A.

Employee identification numbers

B.

Telephone numbers

C.

A listing of payment amounts

D.

Vendor addresses

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Question # 38

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

A.

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

B.

During the analysis phase, it is best to use a combination of the various forensic tools that can assist h identifying, extracting, and collecting digital evidence

C.

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

D.

The primary concern when analyzing digital evidence is to protect the collected information from seizure

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Question # 39

Which of the following is TRUE of a follow-up/recommendations section in a written fraud examination report?

A.

A follow-up recommendations section is a required part of every written fraud examination report

B.

A follow-up/recommendations section calculates the amount of fraud-related loss sustained by the organization

C.

A follow-up/recommendations section should state remedial measures for the organization to undertake

D.

All of the above

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Question # 40

Arnold, a Certified Fraud Examiner (CFE) for Integra Wealth, learns that Elizabeth, an accounts payable clerk, recently purchased an expensive ski boat Arnold also knows that Elizabeth recently purchased a vacation home on a nearby lake Arnold has sufficient predication to:

A.

Notify management of the possibility that Elizabeth has committed fraudulent acts

B.

Search Elizabeth's mobile phone for evidence of misconduct.

C.

Accuse Elizabeth directly of having committed fraud

D.

Conduct discreet inquiries into Elizabeth's responsibilities as an accounts payable clerk

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Question # 41

Which of the following is considered a best practice for preserving the confidentiality of a fraud investigation?

A.

Suspend all employees involved in the investigation pending the investigation's outcome.

B.

Ensure that the investigation is conducted at the direction of, or under the supervision of. a government official

C.

Avoid using email or other electronic means to transmit confidential case information

D.

Implement a blanket policy prohibiting all employees from discussing anything related to employee investigations

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Question # 42

Which of the following is NOT a recommended strategy when conducting admission-seeking interviews?

A.

Conduct admission-seeking interviews only when time is not a factor.

B.

Ensure that accusations are made under conditions of privacy to avoid potential liability

C.

Minimize empathy while emphasizing the perception of moral wrongdoing

D.

Present a morally acceptable reason for the subject's behavior

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Question # 43

Baker, a Certified Fraud Examiner (CFE). contacts Dierdre for the purpose of conducting a routine, information-gathering interview Dierdre expresses a desire that her coworker. Matthew, whom Baker also plans to interview, be interviewed at the same time Baker should:

A.

Interview Dierdre and Matthew separately.

B.

Interview Dierdre and Matthew at the same time, but bring in a second interviewer

C.

Interview Dierdre and Matthew at the same time by himself

D.

Allow Matthew to be present as a silent observer.

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Question # 44

Which of the following is NOT true with regard to tracing the disposition of loan proceeds?

A.

Tracing loan proceeds can reveal previous civil offenses committed by the subject

B.

Tracing loan proceeds can determine if the proceeds were deposited into hidden accounts

C.

Tracing loan proceeds can uncover previously unknown witnesses

D.

Tracing loan proceeds can determine if hidden accounts were used for loan payments.

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Question # 45

Which of the following is TRUE of a well-written fraud examination report?

A.

The details of witness interviews should be reported in a separate memorandum.

B.

The report should discuss only the evidence that substantiates the fraud allegation

C.

All information provided by witnesses, regardless of relevance, should be included in the report.

D.

Technical terms should be included whenever possible to convey professionalism.

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Question # 46

Which of the following statements is MOST ACCURATE regarding covert operations?

A.

Fraud examiners should conduct coven operations only after attempting conventional methods of evidence-gathering

B.

Mistakes in covert operations generally do not cause damage to their associated investigations

C.

Covert operations rarely prove beneficial to investigations even when planned properly.

D.

Most jurisdictions provide protections for investigators conducting covert operations that shield them from reputational, financial, and legal consequences.

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Question # 47

The term_____________refers to a process of resolving allegations of fraud from inception to disposition.

A.

Fraud theory

B.

Forensic investigation

C.

Fraud management

D.

Fraud examination

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Question # 48

Which of the following is the MOST ACCURATE statement about how fraud examiners shook! approach fraud examinations?

A.

Fraud examinations should begin with general information that is known, starting at the periphery, and then move to the more specific details.

B.

When conducting fraud examinations, fraud examiners should adhere to the means-and-ends approach

C.

When conducting fraud examinations, fraud examiners should operate under the assumption that the subjects are guilty

D.

In most examinations, fraud examiners should interview those who are more involved in the matters at issue before interviewing those who are less involved.

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Question # 49

Talia has been hired by SBS Inc. to implement a new data analysis program to search for warning signs of potential fraud within the company. Which of the following steps should Talia conduct first to MOST EFFECTIVELY use data analysis techniques for such an initiative?

A.

Build a profile of potential frauds.

B.

Monitor the data.

C.

Cleanse and normalize the data.

D.

Identify the relevant data

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Question # 50

Which of the following would be most useful in determining when a specific document file was created?

A.

The document's metadata

B.

Internet activity data

C.

The system tog

D.

Operating system partition

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Question # 51

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

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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