Free CFCS Mock Exam – Practice Online Confidently

You are an auditor reviewing the financial statements of a firm that manufactures construction equipment The firm's sales have slowed in recent months. Within the last quarter it has closed one of its lactones, however the firm's management are still reporting a positive outlook. Concerned shareholders have asked you to investigate (or possible signs of improper accounting or fraud. You are reviewing two balance sheets from the start and end of the quarter below Given this information and your knowledge of the company s status which issue is MOST likely to be a red flag?

Your bank has recently been targeted by cyber attackers who have compromised the institutions network and stolen some customers online account credentials to conduct account takeovers. Your team is responsible for reporting the incident to law enforcement and regulatory authorities which includes filing Suspicious Activity or Transaction Reports (SAR/STR) You are reviewing accounts that are thought to have been affected to determine if reporting is needed. Which of the findings below would MOST likely trigger a SAR/STR report?

Recently your database of customer records was compromised and hundreds of thousands of customer's personal data was stolen Based on the feedback from your customers you have surmised that the following occurred. • Using the stolen customer information a personalized email was sent to all of the customers Irom the criminals with a significant amount of personal information in them to appear legitimate directing them to a fake website mimicking yours • That fake website captured logins and passwords from customers for later use • The criminals then used the logins and passwords to wire funds from those accounts to offshore accounts that they controlled Which type of attack is this?

Phillips Importers LLC. is a shell company owned by Jon Phillips Mr. Phillips is very active in his local church He has convinced a large number of individuals from his church to invest in the Phillips Fund, which guarantees 10% returns.He lakes the money he collects and puts itina bank account for Phillips Importers LLC. He uses that money to market the Phillips Fund to new investors, print statements, pay dividends to his investors and pay some of his personal expenses. Which types of fraud isMr.Phillips committing? Choose 2 answers

Your client is the family of a man who is deceased. The family remembers stones that their father (the deceased) had a Cayman Islands company where he held his investments. They have located a file containing an old Cayman Islands bank statement in the name of Company A Limited and in care of a post office address. They want to know what information they can find out about the company and the account. How can they determine if the company still exists?