30 Questions
What is one of the key objectives after studying this chapter?
Understand the seriousness of fraud and its impact
Where do statistics on the prevalence and cost of fraud come from?
Government agencies, researchers, insurance companies, victims of fraud
What is the main difference between fraud committed against an organization and fraud committed on behalf of an organization?
The intent of the perpetrator
Which group is NOT a typical source of statistics on fraud occurrences?
Academic institutions
What is a key aspect covered in this chapter regarding fraud-fighting careers?
The different career paths available in fighting fraud
Which statement best describes the focus of this chapter?
Understanding the impact and types of fraud
What did Ponzi promise to investors in his scheme?
Double your money in 90 days
What was the single most critical element for fraud to be successful?
Confidence
What does the word 'con' mean based on the text?
To deceive
Why was Ponzi able to gain investors' confidence in his scheme?
By paying high returns consistently
What was one of the key components of Ponzi's scheme according to the text?
Paying returns to original investors
What aspect of Ponzi's scam is considered extremely helpful in understanding fraud?
Deception and confidence
What is an example of customer fraud involving a bank in Chicago?
Customers deceiving organizations into giving them something they should not have
Which type of fraud involves top management deceptively misstating financial statements?
Financial statement fraud
What kind of fraud includes selling fraudulent investments to unsuspecting investors?
Ponzi schemes
Which of the following is NOT an example of financial statement fraud?
Telemarketing fraud
In which type of fraud do customers get something for nothing?
Financial statement fraud
What is a common characteristic of fraud involving Nigerian letter or money scams?
Misleading individuals through false promises
What are the two common forms of fraud perpetrated by vendors?
Shipment of inferior goods and nonshipment of goods
In direct occupational fraud, what is an example of direct theft of company assets?
Stealing company cash
What type of fraud involves employee collusion with vendors or buyers for illicit gains?
Indirect fraud
Which scenario represents indirect occupational fraud?
Employee receives bribes from vendors for higher purchase prices
What is a common outcome of fraud perpetrated through collusion between buyers and vendors?
Overcharge for purchased goods
Which company is provided as an example of direct fraud in the text?
CVC Construction
What skills are considered important for a fraud examiner according to the text?
Analytical skills and technological skills
Which of the following is NOT a requirement to become a Certified Fraud Examiner (CFE)?
Having a bachelor's degree
In addition to academic and professional qualifications, what other criteria must be met to become a Certified Fraud Examiner (CFE)?
Being of high moral character
What is a key focus area related to human behavior that fraud examiners should understand?
Why people rationalize dishonesty
Which group provides the opportunity to become a Certified Fraud Examiner (CFE)?
Association of Certified Examiners (ACFE)
What is typically the minimum academic requirement for applicants seeking CFE certification?
Bachelor's degree or equivalent
This quiz covers an overview of occupational fraud with a focus on employees stealing company assets either directly or indirectly. Topics include theft of cash, inventory, tools, supplies, as well as bribery and kickbacks from vendors and customers.
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