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Exam CFE - Financial Transactions and Fraud Schemes All Questions

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Exam CFE - Financial Transactions and Fraud Schemes topic 1 question 95 discussion

Actual exam question from ACFE's CFE - Financial Transactions and Fraud Schemes
Question #: 95
Topic #: 1
[All CFE - Financial Transactions and Fraud Schemes Questions]

Linda, an assistant bank manager, purchases a new car that she cannot afford on her salary. To make her car payments, she takes money from a customer’s account and then adjusts the bank’s general ledger to cover the missing amount. Which of the following BEST describes Linda’s scheme?

  • A. False accounting entry
  • B. Unauthorized withdrawal
  • C. Moving money from dormant accounts
  • D. Unauthorized disbursement of funds
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Suggested Answer: A 🗳️
by vynyfulu at April 5, 2025, 12:20 p.m.

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_denw
1 week, 3 days ago
Selected Answer: A
Linda not only takes money from a customer’s account (unauthorized withdrawal), but she also adjusts the bank’s general ledger to cover up the missing funds. This manipulation of the accounting records to conceal the theft is what makes it a false accounting entry scheme.
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