CVA CVA Risk Assessment & Fraud Detection

Question 1

What is the primary purpose of risk assessment in CVA verification work?

Accepted Answer

To identify areas most likely to contain errors or fraudulent activity

Answer

To reduce the number of documents reviewed

Answer

To speed up the verification timeline

Answer

To eliminate the need for field inspections

Question 2

Which red flag is most commonly associated with fraudulent financial verification claims?

Accepted Answer

Inconsistent income figures across multiple submitted documents

Answer

Delayed document submission

Answer

Slightly different formatting on forms

Answer

Use of digital signatures

Question 3

A CVA agent discovers a claimant's bank statements show deposits inconsistent with reported income. What is the best next step?

Accepted Answer

Document the discrepancy and escalate for further investigation

Answer

Immediately deny the claim

Answer

Ignore it if the difference is under 10%

Answer

Accept the explanation given by the claimant verbally

Question 4

Which method is most effective for detecting identity fraud during verification?

Accepted Answer

Cross-referencing government-issued ID with multiple independent data sources

Answer

Accepting notarized documents without further checks

Answer

Relying solely on the claimant's verbal confirmation

Answer

Reviewing only the most recent submitted document

Question 5

In CVA risk scoring, a high-risk profile is MOST likely triggered by which combination?

Accepted Answer

New claimant, multiple prior address changes, and missing employment records

Answer

Long-established claimant with minor document delays

Answer

Claimant using a P.O. box for correspondence

Answer

First-time submission with complete documentation

Question 6

Which of the following is a passive fraud indicator a CVA agent should recognize?

Accepted Answer

Claimant provides overly detailed, rehearsed answers to all questions

Answer

Claimant requests an interpreter

Answer

Claimant submits documents ahead of deadline

Answer

Claimant lists two employers