Exam (elaborations)
ACFE REPORT EXAM QUESTIONS AND ANSWERS
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ACFE REPORT EXAM QUESTIONS AND ANSWERS
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ACFE REPORT EXAM QUESTIONS AND ANSWERS5-7% - Answers -The CFEs who participated in our survey estimated that the typical
organization losses _____ of revenue in a given year as a result of fraud.
$6.3 billion
$2.7 million - Answers -The total loss caused by the cases in our study exceeded
_____, with an average loss per case of _____.
$150,000
23.2%
$1 million - Answers -The median loss for all cases in our study was _____, with _____
of cases causing losses of _____ or more.
83%
$125,000 - Answers -Asset misappropriation was by far the most common form of
occupational fraud, occurring in more than _____ of cases, but causing the smallest
median loss of _____.
10%
$975,000 - Answers -Financial statement fraud is on the other hand of the spectrum,
occurring in less than _____ of cases but causing a median loss of _____.
35.4%
$200,000 - Answers -Corruption cases fell in the middle, with _____ of cases and a
median loss of _____.
creating
altering - Answers -The most common concealment methods were _____ and _____
physical documents.
physical documents - Answers -The most common concealment methods were creating
and altering _____.
tips
39.1%
hotlines
tips
hotlines - Answers -The most common detection method in our study was _____ (_____
of cases), but organization that had reporting _____ were much more likely to detect
fraud through _____ than organization without _____ (47.3% compared to 28.2%,
respectively)
1. Active detection methods.
2. Lower.
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