Question 1

According to ACFE research, which of the following is TRUE regarding the three major categories of occupational fraud?

Options :

A : Identity theft is both the most common and costliest category of occupational fraud.

B : Asset misappropriation schemes are the most common category of occupational fraud.

C : Corruption schemes are the costliest category of occupational fraud.

D : Financial statement fraud schemes are the most common category of occupational fraud.

Answer: B

Question 2

Which of the following is included in the G20/OECD Principles of Corporate Governance?

Options :

A :

A requirement for corporations to establish a legal, regulatory, and institutional framework to support good governance practices

B : A call to support the equal treatment of all members of an organization's governing body

C : Guidance regarding appropriate board structures, responsibilities, and procedures

D :

An examination of the importance of effectively designed and implemented internal control mechanisms within an organization

Answer: C

Question 3

Toll Group has thousands of end-of-life IT assets that need to be disposed of. The senior management of Toll Group is largely concerned about sustainability in waste management, especially electronic waste. Before selecting a supplier to manage the process, the procurement team is required to assess the environmental risks regarding disposal of the assets. Risk assessment is basically based on the measurement of which factors?

Options :

A : Impact

B : Reward

C : Surveillance

D : Likelihood

E : 2 and 4 only

F : 1 and 3 only

G : 2 and 3 only

H : 1 and 4 only

Answer: H

Question 4

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines____________ as

"a process, effected by an entity's board of directors, management, andother personnel, designed to provide

reasonable assurance regarding the achievement of objectives relating to operations, reporting, and

compliance."

Options :

A : Corporate compliance

B : Fraud risk management

C : Risk assessment

D : Internal control

Answer: D

Question 5

According to the 2020 Report to the Nations, which of the following is the MOST COMMON method by which frauds are detected?

Options :

A : Internal audit

B : Confession

C : Tips

D : External audit

Answer: C

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