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Question 1 (TCO A) The traits of a good operational reviewer include:
Question 2 (TCO A) Businesses do not exist to:
Question 3 (TCO A) Operational review phases include all EXCEPT the following:
Question 4 (TCO A) The Three E’s of operational auditing include:
Question 5 (TCO F) Which of the following is NOT a part of the fraud theory approach?
Question 6 (TCO F) Non-shareable secret, rationalization, and opportunity are all part of the _____.
Question 7 (TCO F) In a study by Steve Albrecht, Marshall Romney, and Keith Howe, participants were asked to rank characteristics of the organizational environment that contributed to fraud. The highest ranked factor was:
Question 8 (TCO F) In the Fraud Tree, asset misappropriations are broken down into cash and non-cash schemes. Which of the following is NOT considered a misappropriation of cash?
Question 9 (TCO F) Which of the following techniques is NOT used to conceal sales skimming schemes?
Question 10 (TCO F) In one of the case studies in the textbook (page 49), Brian Lee, a top-notch plastic surgeon, collected payments from his patients without giving a cut to the clinic where he practiced. How was he punished?
Question 11 (TCO B) One of the primary purposes of the planning phase is to:
Question 12 (TCO B) Information obtained during the course of planning includes:
Question 13 (TCO B) Budgeted to actual performance data can be utilized to identify:
Question 14 (TCO B) The auditor is encouraged to chase the elephant, not the mice, to:
Question 15 (TCO F) Senior management is most likely to understate business performance in the financial statements for which of the following reasons?
Question 16 (TCO F) Which of the following is NOT a reason that senior management would overstate business performance to meet certain objectives?
Question1 7 (TCO F) Under Sarbanes-Oxley, Chief Executive Officers and Chief Financial Officers are required to personally certify annual and quarterly SEC filings. Which of the following is an item that they must certify in their reports?
Question 18 (TCO F) While conducting the annual audit of Bluebird Company’s financial statements, Elsie Finnegan, CFE, CPA, came across some fishy findings. The company recorded several large and unusual sales at the end of the fiscal year to customers Elsie had never heard of. Further, all of these sales occurred within the company’s specialty division, which had previously been in danger of closing due to recurring losses. Based on these findings, what type of financial statement fraud could likely be occurring?
Question 19 (TCO F) The textbook lists several ways to reduce the pressures to commit financial statement fraud, including:
Question 20 (TCO F) The technique for analyzing the percentage change in individual financial statement items from one accounting period to the next is known as:
Question 21 (TCO C) The work program is the key to:
Question 22 (TCO C) The work program can include interviews with:
Question 23 (TCO F) Where do most larceny schemes involving cash occur?
Question 2 4 (TCO F) Reversing entries is a method for concealing larceny of ___________?
Question 25 (TCO F) All of the following are ways a fraudster might conceal cash larceny from the deposit except:
Question 26 (TCO F) Mel Turner, the runner for a small bookstore, had a bad habit of helping himself to cash from the deposit on the way to the bank. He covered his tracks by substituting a check from the next day’s deposit for the amount he stole from the previous day. This is an example of what type of concealment?
Question 27 (TCO F) In one of the case studies in the textbook (page 104), Albert Miano, the facilities supervisor for a popular magazine, submitted phony invoices. When Miano received the checks for the phony invoices, he forged the contractor s signature. He then endorsed the check in his own name. How was the fraud caught?
Question 28 (TCO F) In one of the case studies in the textbook (page 91), a Southeastern medical college was plagued with fraudulent activity. What started as an investigation into some suspicious expense reimbursement activity eventually led to the discovery of a fictitious company that was set up to fraudulently bill the college for supplies that never existed. How was the case resolved?
Question 29 (TCO F) According to the 2009 Global Fraud Survey, fraudulent disbursement schemes include:
Question 30 TCO (F) In a _____ scheme, the perpetrator uses false documentation to cause a payment to be issued for a fraudulent purpose.
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