CFCI STUDY GUIDE EXAM NEWEST

CFCI STUDY GUIDE EXAM | NEWEST m m m m m




ACTUAL EXAM COMPREHENSIVE QUESTI m m m




ONS AND VERIFIED ANSWERS GRADED A+
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| 100% PASS | 2025 UPDATE! m m m m m




Falsifying receipts. - m m



m✔✔✔ Correct Answer > Receipts for transportation, hotel, restauran
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t, and other business travel expenses are easily obtained and "recycled
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" by employees either by forgery or by alteration. It is all too easy, for e
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xample, to alter the date or amount on a receipt before it is submitted.
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m(T&E Fraud). m




Duplicate payments - m m



m✔✔✔ Correct Answer > Duplicate payments are issued for legitimat
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e vendors for legitimate invoices. One check goes to the vendor and on
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e goes to the fraudster but shows the check as voided or canceled.
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Purchasing Card Fraud (P-Card) - m m m m



m✔✔✔ Correct Answer > Corporate card used by legitimate holders
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who charge non-
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business expenses to the employer and falsely document them as legi
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timate job-related purchases. (pg 64)
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Electronic Payee Alteration - m m m



m✔✔✔ Correct Answer > Where an insider in AP, modifies the Vendo
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r Master File changes the name of a legitimate business to a name that
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is similar enough that it wont be
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,noticed. The perpetrator simply changes the information back after the
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execution of the fraud. m m m




Automated Clearing House (ACH) - m m m m



m✔✔✔ Correct Answer > An electronic network for financial transacti
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ons in the U.S. The network processes batches of debits and credits to
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various financial institutions allowing for fast, safe and efficient transfer
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mof funds.
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Employee ghosting - m m



m✔✔✔ Correct Answer > Basically time card fraud, where employees
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clock in for other employees or create a fictitious employee and collect
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mtheir pay. m




Claiming expenses just below the minimum documentation requireme
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nt. -
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m✔✔✔ Correct Answer > If receipts are required for all expenses over
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$25 for meals, an employee may fraudulently submit undocumented cl
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aims for amounts of $24.99 or $24.95. (T&E Fraud)
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Claiming for "out-of-policy" expenses. -
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m✔✔✔ Correct Answer > A dishonest employee may test your organiz
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ation's anti- m



fraud controls by submitting a receipt for a personal expense incurred d
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uring a business trip. If the form is complicated the processor may just a
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pprove payment (T&E Fraud)
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Forged Check - m m



m✔✔✔ Correct Answer > a check signed by someone else other than
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,who is specified on the check without that person's permission
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, Theft and Forgery of stolen check -
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m✔✔✔ Correct Answer > An employee stealing blank checks ad ma
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king them out to him or herself or cash, and forges the name of the a
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uthorized person to sign checks. m m m m




Check interception and forgery of endorsement -
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m✔✔✔ Correct Answer > Perpetrator steals checks made out to legiti
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mate payee and are signed. The perpetrator white outs the payee, alte
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rs or changes the payee information to themselves or others.
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Check alteration by inserting numbers - ✔✔✔ Correct Answer >
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Changing the amount of the check by changing one or more number.
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Check alteration by inserting letters -
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m✔✔✔ Correct Answer > Changing or washing the check to change th
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e name of the payee by adding letters or words.
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Hidden check fraud - m m m



m✔✔✔ Correct Answer > A dishonest employee puts an unauthorized
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check in a pile of authorized checks, betting on the odds that the signe
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r will not check each check and just sign the unauthorized one.
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Check fraud intimiation -
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m✔✔✔ Correct Answer > A bank employee using fear or intimidation o
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n a person responsible for issuing the checks
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