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

Which of the following are used in a short term skimming scheme?
C) False company accounts, understated sales and theft of incoming checks
A) Unrecorded sales, understated sales and theft of incoming checks
B) Unrecorded sales, understated sales and dual endorsements
D) Understated sales, theft of incoming checks and check-for-currency substitutions

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
9 months ago
I agree with A, it covers the main tactics used.
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Hannah
9 months ago
C is also a possibility, false accounts can be used too.
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Carma
10 months ago
Wait, theft of incoming checks? That sounds risky!
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Micheal
10 months ago
I think B is more accurate, dual endorsements are sneaky!
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Alayna
10 months ago
Definitely A, those are classic methods.
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Julieta
10 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
11 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
11 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
11 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
11 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
11 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
11 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
11 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
11 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
11 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
1 year 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
1 year ago
C) False company accounts, understated sales and theft of incoming checks
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Bambi
1 year ago
B) Unrecorded sales, understated sales and dual endorsements
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Craig
1 year ago
A) Unrecorded sales, understated sales and theft of incoming checks
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Ciara
1 year ago
Haha, 'check-for-currency substitutions'? That sounds like something out of a spy movie!
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Vannessa
1 year ago
D) Understated sales, theft of incoming checks and check-for-currency substitutions
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Leatha
1 year ago
C) False company accounts, understated sales and theft of incoming checks
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Earnestine
1 year ago
B) Unrecorded sales, understated sales and dual endorsements
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Brinda
1 year ago
A) Unrecorded sales, understated sales and theft of incoming checks
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Silva
1 year ago
Why do you think it's D?
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Tarra
1 year ago
I disagree, I believe it's D.
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Ettie
1 year 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
1 year ago
Theft of incoming checks is another common tactic in short term skimming schemes.
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Gilma
1 year ago
User 2
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Brock
1 year ago
Unrecorded sales and understated sales are more commonly associated with short term skimming schemes.
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Filiberto
1 year ago
User 1
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Chau
1 year ago
Dual endorsements can actually be used in both short and long term fraud schemes.
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Melissa
1 year ago
Option B includes dual endorsements, which can be used in short term skimming schemes.
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Dannie
1 year 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
1 year ago
I think the answer is A.
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