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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Asset Misappropriation – Non-Cash Assets | 5–10% | - Misuse of assets - Inventory and equipment theft - Concealment techniques |
| Topic 2: Industry-Specific Financial Crimes | 15–25% | - Real estate and securities fraud - Insurance fraud - Healthcare fraud - Cyber-enabled and cryptocurrency fraud - Financial institution fraud |
| Topic 3: Accounting Concepts | 5–10% | - Financial statements structure - Recording and summarizing transactions - Internal control fundamentals - Basic accounting principles |
| Topic 4: Corruption Schemes | 5–10% | - Illegal gratuities and extortion - Conflicts of interest - Bribery and kickbacks |
| Topic 5: Identity Theft | 1–5% | - Types and techniques - Prevention and detection |
| Topic 6: Asset Misappropriation – Cash Disbursements | 10–15% | - Payroll schemes - Expense reimbursement schemes - Check and payment tampering - Billing schemes |
| Topic 7: Financial Statement Fraud | 10–15% | - Expense and liability understatements - Detection and red flags - Revenue and asset overstatements - Timing and disclosure manipulations |
| Topic 8: Theft of Data and Intellectual Property | 5–10% | - Corporate espionage - Data and IP theft methods - Safeguarding proprietary information |
| Topic 9: Asset Misappropriation – Cash Receipts | 5–10% | - Prevention and detection methods - Cash larceny schemes - Cash skimming schemes |
1. Baker, an employee of ABC Corporation, is the only employee who has control of the purchasing function for his department. Baker authorizes an order for supplies that ABC does not need and uses these supplies to make improvements to his house. This is an example of what kind of fraud?
A) Theft of inventory
B) Pay-and-return scheme
C) Pass-through scheme
D) Personal purchases with company funds
2. A __________ is a day-by-day, or chronological, record of transactions.
A) Asset
B) Journal
C) Ledger
D) Checkbook
3. When an incorrect total is carried from the journal to the ledger or from the ledger to the financial statements, this method is called:
A) Out-of-balance
B) None of all
C) False balance
D) Forced Balance
4. Pilar had to purchase computer equipment for ABC Corporation, her employer. Pilar created a shell company, used the shell company to purchase used computer equipment, and then resold that equipment to ABC Corporation at an increased price. This is an example of a:
A) Pay and return scheme
B) Pass-through scheme
C) Cash larceny scheme
D) Need recognition scheme
5. Which of the following is NOT an example of bribery prevention policies?
A) Business meetings
B) Resource diversions
C) Discounts
D) Reporting gifts
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: B | Question # 5 Answer: B |
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