ACFE Investigation

Question 1

What is the first step in a fraud investigation?

Accepted Answer

Preserve relevant evidence

Answer

Interview suspects first.

Answer

Report to media outlets.

Answer

Notify clients immediately.

Question 2

What is the role of a fraud examiner?

Accepted Answer

To detect and investigate fraudulent activity

Answer

To defend criminal suspects.

Answer

To prepare tax filings.

Answer

To oversee procurement.

Question 3

Which of the following is a key part of interviewing witnesses?

Accepted Answer

Taking detailed notes and staying neutral

Answer

Using accusatory language.

Answer

Interrupting frequently.

Answer

Avoiding follow-up questions.

Question 4

What is chain of custody?

Accepted Answer

Tracking the handling of evidence

Answer

The order of suspect interrogation.

Answer

Legal rights of investigators.

Answer

A method of conducting audits.

Question 5

Which tool is commonly used in forensic accounting?

Accepted Answer

Excel and data analytics software

Answer

Blueprint software.

Answer

Mechanical drafting tools.

Answer

Medical imaging equipment.

Question 6

Why is documentation critical in investigations?

Accepted Answer

It ensures consistency and builds credibility

Answer

It confuses the defense attorneys.

Answer

It reduces staff workload.

Answer

It speeds up the trial process.

Question 7

Which technique helps identify hidden assets?

Accepted Answer

Asset tracing

Answer

Surveillance footage.

Answer

Confidential HR records.

Answer

Facility maintenance logs.

Question 8

What is a whistleblower?

Accepted Answer

A person reporting internal fraud

Answer

A legal prosecutor.

Answer

An external consultant.

Answer

A contract negotiator.

Question 9

What is the goal of conducting background checks during investigations?

Accepted Answer

To identify any criminal history or red flags

Answer

To create a new employment profile.

Answer

To monitor work attendance.

Answer

To validate insurance coverage.