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ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 10 Question 93 Discussion

Actual exam question for ACFE's CFE-Financial-Transactions-and-Fraud-Schemes exam
Question #: 93
Topic #: 10
[All CFE-Financial-Transactions-and-Fraud-Schemes Questions]

Which of the following are used in a short term skimming scheme?

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Suggested Answer: C

by Julio at Jul 13, 2024, 03:07 PM

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Olen
3 months ago
I agree with A, it covers the main tactics used.
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Hannah
3 months ago
C is also a possibility, false accounts can be used too.
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Carma
4 months ago
Wait, theft of incoming checks? That sounds risky!
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Micheal
4 months ago
I think B is more accurate, dual endorsements are sneaky!
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Alayna
4 months ago
Definitely A, those are classic methods.
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Julieta
4 months ago
Option D seems plausible since it includes theft of incoming checks, but I wonder if check-for-currency substitutions are really a common tactic.
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Jacklyn
5 months ago
I feel like understated sales are definitely involved in skimming schemes, but I can't recall if it's with theft of checks or something else.
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Carolynn
5 months ago
I'm not entirely sure, but I remember something about dual endorsements from a practice question. Maybe it's in option B?
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Elouise
5 months ago
I think option A sounds familiar since it mentions theft of incoming checks, which we discussed in class.
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Deonna
5 months ago
Okay, I've got it. The key is to identify the specific methods used in a short-term skimming scheme, which typically involve understating sales, stealing incoming checks, and substituting checks for cash. I'll go with D.
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Dong
5 months ago
I'm a bit confused by the options. Are unrecorded sales and false company accounts the same thing? And what exactly is a "dual endorsement" in this context? I'll need to think this through carefully.
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Blair
5 months ago
I'm pretty confident that the correct answer is D - understated sales, theft of incoming checks, and check-for-currency substitutions. Those all seem like common techniques used in short-term skimming.
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Louvenia
5 months ago
This question seems straightforward, but I want to make sure I understand the key elements of a short-term skimming scheme before selecting an answer.
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Nobuko
5 months ago
This question seems straightforward, but I want to make sure I understand the concept of resource elasticity in the cloud before answering.
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Antonio
5 months ago
The question seems straightforward. Using a provider's API is the way to go for secure and reliable data storage.
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Nina
10 months ago
D looks good, but I'm a bit confused about the 'theft of incoming checks' part. Isn't that just a subset of the 'unrecorded sales' in A?
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Theodora
9 months ago
C) False company accounts, understated sales and theft of incoming checks
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Bambi
10 months ago
B) Unrecorded sales, understated sales and dual endorsements
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Craig
10 months ago
A) Unrecorded sales, understated sales and theft of incoming checks
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Ciara
11 months ago
Haha, 'check-for-currency substitutions'? That sounds like something out of a spy movie!
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Vannessa
9 months ago
D) Understated sales, theft of incoming checks and check-for-currency substitutions
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Leatha
9 months ago
C) False company accounts, understated sales and theft of incoming checks
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Earnestine
9 months ago
B) Unrecorded sales, understated sales and dual endorsements
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Brinda
9 months ago
A) Unrecorded sales, understated sales and theft of incoming checks
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Silva
11 months ago
Why do you think it's D?
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Tarra
11 months ago
I disagree, I believe it's D.
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Ettie
11 months ago
I'm not sure about the 'dual endorsements' in option B. Isn't that more of a long-term fraud scheme?
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Lucille
10 months ago
Theft of incoming checks is another common tactic in short term skimming schemes.
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Gilma
10 months ago
User 2
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Brock
10 months ago
Unrecorded sales and understated sales are more commonly associated with short term skimming schemes.
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Filiberto
10 months ago
User 1
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Chau
10 months ago
Dual endorsements can actually be used in both short and long term fraud schemes.
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Melissa
10 months ago
Option B includes dual endorsements, which can be used in short term skimming schemes.
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Dannie
11 months ago
Option A seems like the most comprehensive answer, covering all the key elements of a short-term skimming scheme.
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Silva
11 months ago
I think the answer is A.
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