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Guide for Certified Fraud Prevention Specialist (CFPS) Exam

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Quiz

1/10
Financial Transactions and Fraud Schemes
Which of the following is a common method used to commit credit card fraud?
Select the answer
1 correct answer
A.
Phishing
B.
Direct deposit
C.
Mobile banking
D.
Cryptocurrency trading

Quiz

2/10
Fraud Prevention and Deterrence
What is the primary purpose of implementing fraud prevention measures in an organization?
Select the answer
1 correct answer
A.
To increase profits
B.
To enhance customer satisfaction
C.
To reduce the risk of financial loss
D.
To improve employee morale

Quiz

3/10
Investigation
What is the primary purpose of conducting an investigation in fraud prevention?
Select the answer
1 correct answer
A.
To increase company profits
B.
To identify and mitigate risks
C.
To promote employee morale
D.
To enhance customer satisfaction

Quiz

4/10
Law
What is the primary purpose of the Sarbanes-Oxley Act (SOX) in relation to fraud prevention?
Select the answer
1 correct answer
A.
To reduce the costs of compliance for small businesses
B.
To enhance the accuracy of financial reporting
C.
To eliminate all forms of corporate fraud
D.
To restrict employee rights in corporate governance

Quiz

5/10
Financial Transactions and Fraud Schemes
What is a typical red flag indicating potential check fraud?
Select the answer
1 correct answer
A.
Multiple checks written to the same vendor in one day
B.
Checks issued at regular intervals
C.
Checks drawn from an established business account
D.
Checks written in varying amounts for routine payments

Quiz

6/10
Fraud Prevention and Deterrence
Which of the following is a key component of an effective fraud deterrence program?
Select the answer
1 correct answer
A.
Ignoring small discrepancies
B.
Employee training and awareness programs
C.
Limiting access to financial records
D.
Frequent audits without follow-up

Quiz

7/10
Investigation
Which method is commonly used during an investigation to collect evidence?
Select the answer
1 correct answer
A.
Surveys and questionnaires
B.
Direct observation
C.
Social media analysis
D.
All of the above

Quiz

8/10
Law
Which of the following is considered a white-collar crime?
Select the answer
1 correct answer
A.
Bank robbery
B.
Embezzlement
C.
Assault
D.
Drug trafficking

Quiz

9/10
Financial Transactions and Fraud Schemes
What type of financial fraud involves misrepresentation of information to gain an advantage in a financial transaction?
Select the answer
1 correct answer
A.
Embezzlement
B.
Identity Theft
C.
Fraudulent Misrepresentation
D.
Money Laundering

Quiz

10/10
Fraud Prevention and Deterrence
What is the primary purpose of conducting a risk assessment in fraud prevention?
Select the answer
1 correct answer
A.
To reduce operational costs
B.
To identify and evaluate potential risks
C.
To train employees on compliance
D.
To improve customer relationships
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Info quiz:

  • Quiz name:Certified Fraud Prevention Specialist (CFPS) Exam
  • Total number of questions:200
  • Number of questions for the test:100
  • Pass score:70%
  • Number of topics:4 Topics
Study topics:Number of questions:
  • Financial Transactions and Fraud Schemes:50 Questions
  • Fraud Prevention and Deterrence:50 Questions
  • Investigation:50 Questions
  • Law:50 Questions

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