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Question 1

Which of the following Is NOT Included In Ihe five fraud risk management principles described In Fraud Risk Management Guide, a joint publication by COSO and the ACFE?

Options :

A : Communicating the expectations of those governing the fraud risk management program

B : Performing comprehensive fraud risk assessments to identify specific fraud schemes

C : Deploying preventive and detective fraud control activities to mitigate fraud risk

D : Developing one-time evaluations for each fraud risk management principle

Answer: D

Question 2

Employee anti-fraud education should:

Options :

A : Include descriptions of the procedures that management uses to detect fraud.

B : Include examples of prior employee misconduct and how those situations were handled.

C : Be restricted to formal educational mechanisms to reinforce the importance of the message.

D : Be presented by organizational executives or anti-fraud professionals only.

Answer: B

Question 3

Consistently punishing perpetrators can be an effective fraud prevention mechanism

Options :

A : True

B : False

Answer: A

Question 4

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 5

Willow, Inc. has a complex organizational structure with many specialized departments. The structure of Willow, Inc. increases the likelihood that fraud will go undetected within the organization.

Options :

A : True

B : False

Answer: B