Date F) In the Fraud Tree, asset

Date F) In the Fraud Tree, asset

Date Taken: 9/9/2011-CORRECT ANSWERS IN BOLD 1. Question : (TCO A) The traits of a good operational audit includes -Persuasiveness, Good Business Judgment, Communication Skills , All of the above Instructor Explanation: Reider, preface reading 2. Question : (TCO A) The reason(s) a business exists include:- Accounts receivable business, Employment business, Cash conversion business, None of the above Instructor Explanation: Reider, Chpt 1 .

Question : (TCO A) Operational review phases are ordered in:- Survey, Work, Plan, Field, Report, Survey, Plan,Work, Field, Report, Plan,Survey, Work, Field, Report, Survey, Field, Plan, Work, Report Instructor Explanation: Reider, Chpt 1 4. Question : (TCO A) The Three E’s of operation auditing do not include:EconomyEfficacy Efficiency Effectiveness Instructor Explanation: Reider Chpt 1 5.Question : (TCO F) Once sufficient predication has been established, what is the first step a fraud examiner following the fraud theory approach should take? Create hypothesis , Analyze data , Interview witnesses ,Interview suspects Instructor Explanation: Wells, Chpt 1 6. Question : (TCO F) Which of the following is not one of the legs of the Fraud Triangle? Situational environment ,Perceived non-shareable financial need ,Perceived opportunity Rationalization Instructor Explanation: Wells, Chpt 1 7.Question : (TCO F) Research in the Hollinger-Clark study suggests that the best way to deter employee theft is by:-Increasing sanctions imposed on occupational fraudsters,Increasing the perception of detection ,Strengthening internal controls, Communicating the organization’s fraud policies to employees Instructor Explanation: Wells, Chpt 1 8. Question : (TCO F) In the Fraud Tree, asset misappropriations are broken down into cash and non-cash schemes.

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Which of the following is not considered a misappropriation of cash? =Larceny, Skimming , Concealed expenses, Fraudulent Disbursement -Instructor Explanation: Wells, Chpt 2 9. Question : (TCO F) The customer service department at JNC, Inc. has been receiving phone calls from customers for whom there is no record. This is a red flag of what type of scheme? =Receivables skimming, Shell company, Unrecorded sales, False refund -Instructor Explanation: Wells, Chpt 2 10.Question : (TCO F) In one of the case studies in the textbook, Brian Lee, a top-notch plastic surgeon, collected payments from his patients without giving a cut to the clinic where he practiced. What was his motivation for committing the fraud? -He was greedy,Repay his students loans.

,Fund his charitable doctor work. ,None of the above Instructor Explanation: Wells, Chpt 2

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