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Investigation > Data Analysis And Reporting Tools….2 Answers Missing > Flashcards

Data Analysis And Reporting Tools….2 Answers Missing Flashcards

1
Q

Machine learning programs are ONLY capable of identifying patterns that have been identified by humans.

A. True
B. False

A

False

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2
Q

Which of the following data analysis functions can be used to determine the relationship between two variables in raw data?

A. Correlation analysis
B. Duplicate testing
C. Benford’s Law analysis
D. Gap testing

A

A. Correlation analysis

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3
Q

For a Benford’s Law analysis, an employee identification number would be considered a natural number.

A. True
B. False

A

False

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4
Q

Which of the following functions does a Benford’s Law analysis help to achieve?

A. Extracting usable information from unstructured text data
B. Identifying fictitious numbers
C. Identifying duplicate payments
D. Measuring the relationship between items on financial statements by expressing accounts as percentages

A

B. Identifying fictitious numbers

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5
Q

Which of the following is an example of a data analysis function that can be performed to help detect fraud through examination of fixed asset accounts?

A. Recalculate expense and reserve amounts using replacement costs
B. Select samples for asset existence verification
C. Compare book and tax depreciation and indicate variances
D. All of the above

A

D. All of the above

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6
Q

Understanding the structure and availability of existing data during a data analysis engagement helps to ensure that the fraud examiner can build workable tests to run on the data.

A. True
B. False

A

True

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7
Q

When conducting a data analysis engagement to detect fraud, it is important to build a profile of potential frauds before identifying, obtaining, and analyzing the data.

A. True
B. False

A

True

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8
Q

A fraud examiner is conducting textual analytics on journal entry data and runs a keyword search using the terms override, write off, and reserve/provision. With which component of the Fraud Triangle are these fraud keywords typically associated?

A. Capability
B. Rationalization
C. Pressure
D. Opportunity

A

D. Opportunity

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9
Q

On which of the following data fields would a fraud examiner be MOST LIKELY to run a duplicate test to search for a duplicate value?

A. Product numbers
B. Invoice numbers
C. Inventory counts
D. Account balances

A

B. Invoice numbers

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10
Q

During which phase of the data analysis process does the fraud examiner identify, obtain, and verify the relevant or requested data?

A. The post-analysis phase
B. The planning phase
C. The testing and interpretation phase
D. The preparation phase

A

D. The preparation phase

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11
Q

Black, a fraud examiner, is conducting textual analytics on emails sent to and from specific employees that her client has identified as fraud suspects. She is using the Fraud Triangle to create a list of fraud keywords to use in her search. Which of the following words found in email text might indicate a fraudster is rationalizing their actions?

A. Override
B. Write off
C. Quota
D. Deserve

A

D. Deserve

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12
Q

Victoria, a fraud examiner, is concerned that employees are abusing their expense accounts and are spending more than the amount allowed per day for meals. Which of the following is the MOST APPROPRIATE data analysis function for locating meal expenses greater than thirty dollars?

A. Compliance verification
B. Gap testing
C. Duplicate testing
D. Multi-file processing

A

A. Compliance verification

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13
Q

Which of the following is a core data analysis function that can be performed with most data analysis software applications?

A. Sorting
B. Joining files
C. Duplicate testing
D. All of the above

A

D. All of the above

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14
Q

Which of the following is TRUE regarding textual analytics?

A. There is a universal list of fraud keywords to use when implementing textual analytics that is applicable to any fraud examination.
B. The purpose of performing textual analytics is to find and extract an admission of fraud that can be presented in court.
C. Textual analytics can be used to categorize data to reveal patterns, sentiments, and relationships that are indicative of fraud.
D. Textual analytics is used to determine whether someone is lying or telling the truth based on clues within the data.

A

C. Textual analytics can be used to categorize data to reveal patterns, sentiments, and relationships that are indicative of fraud.

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15
Q

A fraud examiner is conducting textual analytics on journal entry data and runs a keyword search using the terms deadline, quota, and trouble. With which component of the Fraud Triangle are these fraud keywords typically associated?

A. Pressure
B. Opportunity
C. Capability
D. Rationalization

A

A. Pressure

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16
Q

Why do fraud examiners perform textual analytics?

A. To reveal patterns, sentiments, and relationships that are indicative of fraud
B. To gauge the pressures/incentives, opportunities, and rationalizations to commit fraud
C. To uncover warning signs of potentially fraudulent employee behavior
D. All of the above

A

D. All of the above

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17
Q

Artificial intelligence refers to computer systems that perform human tasks, such as visual perception and decision-making.

A. True
B. False

A

True

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18
Q

Text-based data are typically considered:

A. Structured data
B. Narrative data
C. Unstructured data
D. Documentary data

A

C. Unstructured data

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19
Q

Why would a fraud examiner perform duplicate testing on data?

A. To identify missing items in a sequence or series
B. To identify transactions with matching values in the same field
C. To determine the relationship among different variables in raw data
D. To determine whether company policies are met by employee transactions

A

B. To identify transactions with matching values in the same field

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20
Q

Which of the following is an example of a data analysis function that can be performed to help detect fraud through examination of payroll accounts?

A. Compare customer credit limits and current or past balances.
B. Compare approved vendors to the cash disbursement payee list.
C. Check proper supervisory authorization on payroll disbursements.
D. Generate depreciation to asset cost reports.

A

C. Check proper supervisory authorization on payroll disbursements.

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21
Q

Cleansing and normalizing data during a data analysis engagement includes reviewing data to ensure that any inconsistencies are fixed, isolated, or eliminated.

A. True
B. False

A

True

22
Q

Which of the following steps is included in the planning phase of the data analysis process?

A. Building a profile of potential frauds
B. Determining whether predication exists
C. Defining examination objectives
D. All of the above

A

D. All of the above

23
Q

A fraud examiner is preparing for a data analysis engagement. Why might the fraud examiner cleanse and normalize data prior to testing it?

A. To ensure that the data are in a structured format
B. To ensure that any known errors in the data are addressed
C. To ensure that the data can be analyzed consistently
D. All of the above

A

D. All of the above

24
Q

Which of the following statements is TRUE regarding data mining?

A. Data mining can be used to streamline raw data into understandable patterns
B. Data mining is an effective way for fraud examiners to develop fraud targets for further investigation
C. Data mining is the science of searching large volumes of data for patterns
D. All of the above

A

D. All of the above

25
Q

is a data analysis software function that allows users to relate several files by defining relationships in collected data without using the Join command.

A. Verifying multiples of a number
B. Record selection
C. Correlation analysis
D. Multi-file processing

A

D. Multi-file processing

26
Q

Which of the following is an example of a data analysis function that can be performed on cash disbursements to help detect fraud?

A. Verify audit trail for all disbursements by purchase order, vendor, department, etc.
B. Identify disbursements by department, supervisor approval, or amount limits
C. Generate summary of vendor cash activity for further analysis
D. All of the above

A

D. All of the above

27
Q

Christie is undertaking a data analysis engagement to identify potential fraud at XYZ Corporation. Which of the following lists the MOST APPROPRIATE order in which she should conduct the steps involved in the data analysis process?

I. Cleanse and normalize the data.

II. Build a profile of potential frauds.

III. Analyze the data.

IV. Obtain the data.

V. Monitor the data.

A. IV, II, I, V, III
B. IV, I, III, V, II
C. II, IV, I, III, V
D. II, IV, III, I, V

A

(There is no submit button and it’s locked up)

28
Q

Victoria, a fraud examiner, is concerned that employees are abusing their expense accounts and are spending more than the amount allowed per day for meals. Which of the following is the MOST APPROPRIATE data analysis function for locating meal expenses greater than thirty dollars?

A. Duplicate testing
B. Gap testing
C. Multi-file processing
D. Compliance verification

A

D. Compliance verification

29
Q

Which of the following functions does a Benford’s Law analysis help to achieve?

A. Extracting usable information from unstructured text data
B. Measuring the relationship between items on financial statements by expressing accounts as percentages
C. Identifying duplicate payments
D. Identifying fictitious numbers

A

D. Identifying fictitious numbers

30
Q

Black, a fraud examiner, is conducting textual analytics on emails sent to and from specific employees that her client has identified as fraud suspects. She is using the Fraud Triangle to create a list of fraud keywords to use in her search. Which of the following words found in email text might indicate a fraudster is rationalizing their actions?

A. Override
B. Deserve
C. Quota

A

B. Deserve

31
Q

Why would a fraud examiner perform duplicate testing on data?

A. To determine the relationship among different variables in raw data
B. To identify transactions with matching values in the same field
C. To identify missing items in a sequence or series
D. To determine whether company policies are met by employee transactions

A

B. To identify transactions with matching values in the same field

32
Q

Christie is undertaking a data analysis engagement to identify potential fraud at XYZ Corporation. Which of the following lists the MOST APPROPRIATE order in which she should conduct the steps involved in the data analysis process?

I. Cleanse and normalize the data.

II. Build a profile of potential frauds.

III. Analyze the data.

IV. Obtain the data.

V. Monitor the data.

A. IV, II, I, V, III
B. IV, I, III, V, II
C. II, IV, I, III, V
D. II, IV, III, I, V

A

No submit button

33
Q

Which of the following is NOT a purpose of the follow-up/recommendations section of a written fraud examination report?

A. To state necessary remedial measures for the organization to undertake
B. To make recommendations related to procedures and controls
C. To identify any aspect of the investigation that remains outstanding
D. To calculate the amount of loss caused by any misconduct identified during the investigation

A

D. The planning phase

34
Q

Understanding the data, determining whether predication exists, and building a profile of potential frauds are all steps of which phase of the data analysis process?

A. The testing and interpretation phase INCORRECT
B. The post-analysis phase
C. The preparation phase
D. The planning phase

A

D. The planning phase

35
Q

Which of the following is an example of a data analysis function that can be performed to detect fraud through an examination of the general ledger?

A. Create actual-to-budget comparison reports
B. Analyze and confirm specific ledger accounts for legitimate transaction activity
C. Calculate financial ratios
D. All of the above

A

D. All of the above

36
Q

Which of the following steps takes place during the preparation phase of a data analysis engagement?

A. Defining examination objectives
B. Cleansing and normalizing the data
C. Determining whether predication exists
D. Building a profile of potential frauds

A

B. Cleansing and normalizing the data

37
Q

Robotic process automation (RPA) is a data analytics approach that uses historical data, analyses, statistics, and machine learning components to build a mathematical model that depicts important trends and creates a quantitative projection or prediction about future events or outcomes.

A. True
B. False

A

B. False

38
Q

is a data analysis software function that allows users to relate several files by defining relationships in collected data without using the Join command.

A. Record selection
B. Multi-file processing
C. Verifying multiples of a number
D. Correlation analysis

A

B. Multi-file processing

39
Q

can BEST be described as a data analytics approach involving a learning algorithm that identifies similarities, patterns, or anomalies within a data set without the involvement of a human.

A. Predictive analytics
B. Link analysis
C. Unsupervised machine learning
D. Supervised machine learning

A

C. Unsupervised machine learning

40
Q

Which of the following data analysis functions is MOST USEFUL in testing for hidden journal entries?

A. Duplicate testing
B. Statistical sampling
C. Aging analysis
D. Gap testing

A

D. Gap testing

41
Q

In data analysis, date fields are generally NOT a problem when importing and exporting data because standard formats are always used.

A. True
B. False

A

False

42
Q

Link analysis software creates visual representations of data from multiple data sources and can be used to track the movement of money over time.

A. True
B. False

A

True

43
Q

Lee manages a house painting company. He notices expenses have increased substantially from the prior year, which is unexpected because the company had much less business this year and painted fewer houses. Which of the following data analysis functions would be the MOST USEFUL in helping Lee determine the relationship between expense and houses painted?

A. Stratification
B. Correlation analysis
C. Benford’s Law analysis
D. Verifying multiples of a number

A

B. Correlation analysis

44
Q

is a method of using software to extract usable information from unstructured data.

A. Linguistic analytics
B. Textual analytics
C. Benford’s Law
D. The Fog Index

A

B. Textual analytics

45
Q

Link analysis is particularly useful when investigating which type of fraud scheme?

A. Shell company
B. Money laundering
C. Fictitious vendor
D. All of the above

A

D. All of the above

46
Q

A fraud examiner is planning a data analysis engagement. Which of the following should the fraud examiner understand prior to determining which tests to run on the data?

A. The structure of the data
B. What data are available for analysis
C. Areas of data at risk for being overlooked
D. All of the above

A

D. All of the above

47
Q

Which of the following is a data analysis tool that is effective in demonstrating complex networks and identifying relationships that are not closely related?

A. Geospatial analysis
B. Tree maps
C. Link analysis
D. Word maps

A

C. Link analysis

48
Q

Which of the following is a limitation of Benford’s Law?

A. Benford’s Law can only be applied to data sets listed in currency amounts.
B. Benford’s Law cannot be applied to data sets with non-natural numbers, such as invoice numbers or inventory prices.
C. Benford’s Law applies best to data sets with three-digit numbers.
D. Benford’s Law only works on data sets with assigned numbers, such as bank account or telephone numbers.

A

B. Benford’s Law cannot be applied to data sets with non-natural numbers, such as invoice numbers or inventory prices. CORRECT

49
Q

Which of the following is NOT an example of a data analysis function that can be performed to detect fraud through examination of accounts payable?

A. Identify debits to expense accounts outside of set default accounts.
B. Audit paid invoices for manual comparison with actual invoices.
C. Create vendor detail and summary analysis reports.
D. Sort asset values by asset type or monetary amount.

A

D. Sort asset values by asset type or monetary amount.

50
Q

Clarissa suspects that there is a ghost employee scheme taking place at her organization. She wants to compare the payroll records to the employee master file. Which data analysis technique should Clarissa use to match these two data records?

A. Compliance verification
B. Correlation analysis
C. Gap testing
D. The Join function

A

D. The Join function

51
Q

Which of the following is a data analytics approach involving layered artificial neural networks that are used to identify complex patterns in data sets by accommodating more data and more sophisticated algorithms?

A. Unsupervised machine learning
B. Deep learning
C. Artificial learning
D. Supervised machine learning

A

B. Deep learning

Investigation (10 decks)

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