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1. Which of the following would NOT be considered a conflict of interest?
A) Jennifer is on the board of directors of two companies that compete in the retail market, but she does not tell either company about her role at the other.
B) Ernest hires his brother, John, to provide vending services to his employer's lunch areas, but he does not disclose their relationship.
C) Robert works for Muir's Printing Services on weekdays and Winsted Cafe on weekends, but he does not tell either employer about the other job.
D) Harriet owns a significant amount of stock in a company she regularly buys her employer's office supplies from, but her employer is unaware of this fact.
2. Which of the following factors is NOT included in most financial statement schemes?
A) Persuasive Evidence
B) Fictitious revenues
C) Concealed liabilities and expenses
D) Improper asset valuations
3. Tammy made one cash deposit each day over the span of a few weeks at automated teller machines owned by her bank. The cash deposits ranged from $9,000 to $9,900. Tammy lives in a jurisdiction that requires all deposits of $10,000 or more to be reported to the government. Based on these facts, Tammy is MOST LIKELY committing a(n):
A) Remote deposit capture scheme
B) Structuring scheme
C) Integration scheme
D) Reverse deposit scheme
4. Which of the following would be MOST INDICATIVE of loan fraud in a draw request submitted by a construction developer?
A) The developer's personal account statements have been omitted.
B) Change orders have been included.
C) Lien releases from subcontractors are not included with the request.
D) There are several inspection reports.
5. Skimming is:
A) The addition of cash from a victim entity prior to its entry in an accounting system.
B) The removal of cash from a victim entity after its entry in an accounting system.
C) The removal of cash from a victim entity prior to its entry in an accounting system.
D) None of above
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: A | Question # 3 Answer: B | Question # 4 Answer: C | Question # 5 Answer: C |
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