Multiple Choice Questions:

1. How do the objectives differ for forensic accountants (fas) and external financial auditors (efes)?

a. Fas are more thorough.

b. Efas audit a broader range of transactions.

c. Efas tend to concentrate their work more.

d. Fas tend to concentrate their work more.

2. How many categories does the American Institute of Certified Accountants use to classify forensic accounting?

a. 1.

b. 2.

c. 3.

d. 4.

3. A forensic accountant who determines the amount of lost profits due to business interruption would be working in which of the following areas?

a. Valuation.

b. Estimation.

c. Financial determination.

d. Auditing.

4. Corporate scandals prompted companies to begin using which of the following?

a. Forensic audits.

b. Fraud-intensive audits.

c. Proactive fraud checkups.

d. Internal control systems.

5. Which of the following is the most recognized fraud credential?

a. CPA.

b. CMA.

c. CFE.

d. None of the above.