EMT Practice Test

1. Question Content...

---

Question1: Which of the following is the MOST ACCURATE statement about the phases of procurements involving open and free competition?

Question2: To keep the accounting equation in balance, which of the following actions will need to be taken if someone wants to conceal the fraudulent removal of a liability from the books?

Question3: Which of the following is a FALSE statement regarding check fraud?

Question4: June, a 76-year-old woman, receives a phone call from a man impersonating one of her relatives. He claims to have a lot of debt and asks her to secretly send him money so that the rest of the family will not find out. June has MOST LIKELY been victimized by which of the following schemes?

Question5: A financial manager who pressures investors to take regular payouts rather than to reinvest their profits is a red flag of a Ponzi scheme.

Question6: Which of the following measures is MOST LIKELY to prevent cash larceny schemes from occurring?

Question7: Sinead has lost her job and can no longer afford the luxury car that she recently purchased. Instead of allowing her car to be repossessed by her bank, Sinead decides to leave her car in a high-crime area with the keys in the ignition, hoping that it will be stolen so that she can make an insurance claim for the loss. Sinead is planning to commit which of the following insurance scams?

Question8: Schemes in which an employee physically misappropriates cash that has already appeared on the victim organization's books are known as:

Question9: Which of the following statements describes a best practice for preventing contract and procurement fraud?

Question10: Which of the following ratios can be used to assess a company's ability to meet sudden cash requirements?

Question11: Which of the following is a method that a fraudster might use to conceal inventory shrinkage?

Question12: Which of the following is an example of a corruption scheme?

Question13: Which of the following is a reason why prepaid debit and gift card fraud schemes are attractive to fraudsters?

Question14: Which of the following is a common red flag of procurement fraud schemes involving collusion among contractors?

Question15: Which of the following scenarios does NOT describe a card skimming or shimming scheme?

Question16: Which of the following is FALSE concerning methods corporate spies generally use to steal information from other organizations?

Question17: Which of the following situations MOST LIKELY constitutes health care fraud committed by an insurance company?

Question18: Which of the following is an example of a cash larceny scheme?

Question19: Which of the following is a common red flag of a bid tailoring scheme?

Question20: Which of the following statements is FALSE with regard to counterfeit credit and debit cards?

Question21: Which of the following statements about corporate espionage is CORRECT?

Question22: Which of the following fraud schemes is MOST LIKELY to target a neighborhood of immigrants?

Question23: All of the following items appear on the balance sheet EXCEPT:

Question24: A fraudster uses a victim's name, government identification number, and birthdate to impersonate the victim and open a credit card account in the victim's name. This scheme can BEST be described as:

Question25: Which of the following is one of the categories on the statement of cash flows?

Question26: Bayan finds a residential property with an owner who lives far away. She forges the owner's signature on property transfer documents that purport to give Bayan full ownership of the property. Bayan then takes the falsified documents to the bank and obtains a loan using the property as collateral. Which of the following BEST describes this scheme?

Question27: To help prevent fraudulent billing schemes, it is recommended that companies combine the purchasing and payment functions.

Question28: Which of the following is NOT a justifiable reason to depart from generally accepted accounting principles (GAAP)?

Question29: If an analytical review reveals that a company's cost of goods sold has increased by a disproportionate amount relative to its sales, and no changes have occurred in the purchase prices, quantities purchased, or quality of products purchased, what does this most likely indicate?

Question30: Which of the following is the MOST LIKELY result of a financial statement fraud scheme?

Question31: Which of the following is a method for gaining unauthorized access to a computer system whereby the attacker deceives victims into disclosing personal information or convinces them to commit acts that facilitate the attacker's intended scheme?

Question32: What type of fraud scheme would an analysis of payroll withholdings be MOST LIKELY to reveal?

Question33: Which of the following is NOT a method of identity theft prevention recommended for businesses?

Question34: Vertical analysis can BEST be described as:

Question35: Which of the following actions could management take to make a company appear more profitable than it actually is?