Forensic Accounting and Fraud Examination Week 4 Quiz Answers

Forensic Accounting and Fraud Examination Week 4 Quiz Answers

Hello Friends in this article i am gone to share Coursera Course: Forensic Accounting and Fraud Examination by the West Virginia University | Week 4 Quiz Answers with you..

Forensic Accounting and Fraud Examination Week 4 Quiz Answers

Week 4 Quiz Answers

Question 1)
With respect to “big data” and the digitalization of the world, which of the following is correct?

  • The digitalizing of the world which includes the de-materialization of money facilitates the detection of money laundering.
  • The digitalizing of the world which includes the de-materialization of money facilitates money laundering
  • The digitalizing of the world which includes the de-materialization of money is the equivalent of money laundering
  • None of the answers.

Question 2)
Which of the following statement(s) is FALSE?

  • Documentary letters of credit are a common form of international payment because both the buyer and seller are afforded some protection.
  • Billions of dollars, euros and a variety of other currency’s move around the world every day.
  • The use of cyber-banking, smart cards, prepaid phone, debit, credit and gifts cards and other similar methods suggest that the amount of money moving around the world will increase in the future.
  • Money order systems facilitate the transfers of money between individuals with no record of the transaction

Question 3)
One method of hiding assets is to:

  • Place them in a savings account.
  • Place them in two separate bank accounts.
  • Place the ownership of the assets in a child’s trust.
  • All of the other answers are correct

Question 4)
The biggest advantage investigators have when tracing the flow of illegal funds is:

  • Most illegal funds consist of electronic transfers, making detection easier.
  • Most illegal funds at some time flow through a bank in the US making detection easier.
  • Most illegal funds return to the persons performing the laundering making detection easier.
  • Most illegal funds are converted to hard assets making detection easier.

Question 5)
Transferring funds obtained illegally from a safe deposit box in the US to a safe deposit box in Canada is an example of:

  • Integration
  • Layering
  • Placement
  • None of the above

Question 6)
Which of the following is NOT true?

  • The process of money laundering is a criminal activity
  • Sometimes laundered money to supports terrorism
  • Laundered money is estimated to be trillions of dollars annually
  • Money laundering is a victimless crime

Question 7)
With regard to specified unlawful acts, which of the following is one such act:

  • Making an untrue statement to representatives of law enforcement
  • Writing a novel with fictional characters and mailing it to readers
  • Making an untrue statement to representatives of the federal government
  • Burning one’s business location for insurance proceeds.

Question 8)
Shell companies can be found through:

  • All of the above
  • Examination of parental trust accounts
  • A lifestyle / spending habits audit
  • Examination of ownership records in a country known to harbor and protect criminal activities

Question 9)
Generally, what is the best estimate of the impact of money laundering?

  • 2% to 5% of the world’s GDP
  • 2% to 5% of the developed world’s GDP
  • 2% to 5% of organized crime activities
  • 2% to 5% of the United State’s GDP

Question 10)
Shell companies typically: (Mark all that apply)

  • Are illegal
  • Have no physical presence (other than a mailing address)
  • Have no employees
  • Produce no independent economic value

 

 

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