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Question: Why shouldn’t an interviewer use closed


Why shouldn’t an interviewer use closed or leading questions during the information-gathering phase of the interview?


> Given the nature of competition in the U.S. steel industry, what must a steel maker focus on in order to be profitable?

> To develop its cloud computing business, Microsoft implemented a self-contained unit within its organization dedicated to that task. Why do you think that it did this?

> Demand for steel is very cyclical. Why do you think this is the case? What might steel makers do to better cope with the cyclical nature of demand?

> Why has Southwest’s business model and strategies changed over time?

> Microsoft and Nokia have both been losing share in the smartphone business. They have now decided to enter into an alliance. How are they hoping to reshape competition in the smartphone business? Do you think they will succeed?

> In what ways is it using non price strategies to improve its competitive advantage?

> How do changes in the environment affect the success of a company’s business model?

> Microsoft and RIM were selling smartphones several years before Apple and Google entered the market. Why then do you think Apple and Google’s Android phones are now starting to dominate the market?

> What general principles about competitive advantage and strategy can be drawn from this case?

> If you put the issues related to bonuses and personal perks to one side, how would you judge the effectiveness of John Thain as the leader of an organization deep in crisis?

> Diagram the life span of an exposure arising from selling a product on open account. On the diagram define and show quotation, backlog, and billing exposures.

> What are the main types of political risks that are global in origin?

> What, if anything, is a “euro-euro?”

> Why would anyone, individual or corporation, want to deposit U.S. dollars in a bank outside of the United States, when the natural location for such deposits would be a bank within the United States?

> Explain the strategies used by an MNE to counter blocked funds. What can a multinational firm do to transfer funds out of countries having exchange or remittance restrictions? At least six popular strategies are used:

> In January 2002 the government of Argentina broke away from its currency board system that had tied the peso to the U.S. dollar, and devalued the peso from APs1.0000/$ to APs1.4000/$. This caused some Argentine firms with dollar-denominated debt to go ba

> What are the benefits of achieving a lower cost and greater availability of capital?

> What is the difference between a “real” asset and a “financial” asset?

> Why does LIBOR receive so much attention in the global financial markets?

> If the BOP were viewed as an accounting statement, would it be a balance sheet of the country’s wealth, an income statement of the country’s earnings, or a funds flow statement of money into and out of the country?

> What is a collateralized debt obligation (CDO)?

> What is the effect of market liquidity and segmentation on a firm capital.

> Why have eurocurrencies and LIBOR remained the centerpiece of the global financial marketplace for so long?

> If a country follows a fixed exchange rate regime, what macroeconomic variables could cause the fixed exchange rate to be devalued?

> The measurement of all international economic transactions between the residents of a country and foreign residents is called the balance of payments (BOP). What institution provides the primary source of similar statistics for balance of payments and ec

> It has been claimed that failures in corporate governance have hampered the growth and profitability of some prominent firms located in emerging markets. What are some typical causes of these failures in corporate governance?

> Technically, what is a sovereign default?

> Brazil has experienced periodic depreciation of its currency over the past 20 years, despite occasionally running a current account surplus. Why has this phenomenon occurred?

> The U.S. dollar has maintained or increased its value over the past 20 years, despite running a gradually increasing current account deficit. Why has this phenomenon occurred?

> The IMF classifies all exchange rate regimes into eight specific categories that are summarized in this chapter. Under which exchange rate regime would you classify each of the following countries?

> Convert the following indirect quotes to direct quotes, and direct quotes to indirect quotes: a. Euro: €1.22/$ (indirect quote) b. Russia: Rubl 30/$ (indirect quote c. Canada: $0.72/C$ (direct quote) d. Denmark: $0.1644/DKr (direct quote)

> Smith Company and Jones Company enter into an interest rate swap, with Smith paying fixed interest to Jones, and Jones paying floating interest to Smith. Smith now goes bankrupt, and so defaults on its remaining interest payments. What is the financial d

> How should an MNE factor host country inflation into its evaluation of an investment proposal?

> The newspaper reports that a given June Eurodollar future settled at 93.55. What was the annual yield? How many dollars does this represent?

> Check The Wall Street Journal to find the United States locations for trading foreign exchange futures contracts.

> What is a mortgage-backed security (MBS)?

> Name the four main contractual instruments used to hedge transaction exposure.

> What are the major differences in translating liabilities between the current rate method and the temporal method?

> An alternative arrangement for managing operating exposure between firms with a continuing buyer-supplier relationship is risk sharing. Explain how risk sharing works.

> Answer the following: a. Explain how matching currency cash flows can offset operating exposure. b. Give an example of matching currency cash flows.

> Operating and transaction exposures can be partially managed by adopting operating or financing policies that offset anticipated foreign exchange exposures. What are four of the most commonly employed proactive policies?

> The objective of both operating and transaction exposure management is to anticipate and influence the effect of unexpected changes in exchange rates on a firm’s future cash flows. What strategic alternative policies exist to enable management to manage

> Explain how the concept of macroeconomic uncertainty expands the scope of analyzing operating exposure.

> If all national markets have market risk, is all market risk the same?

> How may improper asset valuation inflate the current ratio?

> What issues are generally involved in improper disclosures?

> In what types of cases may a forensic accountant serve as an expert witness?

> What are the four criteria necessary for a sale to be complete?

> What is the primary purpose of admission-seeking questions?

> What is the purpose of timelines in an investigation?

> What are the two categories of data mining and knowledge discovery software?

> What is meant by the acronym CAATTs and what are they used for?

> Far off in the woods, there is a cabin. The cabin contains 3 people. Two are in one room; the other is alone in another room. All doors to the cabin are locked tight and have not been opened. All three people are dead. There was no sign of violence in th

> A married couple goes to a movie. During the movie the husband strangles the wife. He is able to get her body home without attracting attention. How is this possible?

> This is an unusual paragraph. I’m curious how quickly you can find out what is so unusual about it. It looks so plain you would think nothing was wrong with it. In fact, nothing is wrong with it! It is unusual though. Study it, and think about it, but yo

> What are the benefits of strong interviewing and interrogation skills?

> A murderer is condemned to death. He has to choose between three rooms. The first is full of raging fires, the second is full of assassins with loaded guns, and the third is full of lions that haven’t eaten in 3 years. Which room is safest for him?

> Five pieces of coal, a carrot and a scarf are lying on the lawn. Nobody put them on the lawn but there is a perfectly logical reason why they should be there. What happened? How do you explain this?

> What are some common virus carriers?

> What is meant by a conflict of interest?

> How do bribery and illegal gratuities differ?

> A woman had two sons who were born on the same hour of the same day of the same year, but they were not twins. How could this be so?

> Why are today’s viruses more difficult to detect?

> Why does collusion pose unique prevention and detection challenges?

> What is the difference between tax avoidance and tax evasion?

> What are the five classifications of financial statement fraud?

> What are the different types of schemes associated with complex frauds?

> A woman came home with a bag of groceries, got the mail, and walked into the house. On the way to the kitchen, she walked through the living room. In the living room, she glanced in her husband’s direction. Sadly, her husband had blown his brains out. Sh

> Describe corporate governance breakdowns in the facilitation of Enron’s fraudulent acts.

> Explain the relationship between an employee’s position and the level of theft (according to Hollinger and Clark’s research).

> Other than accounting, which disciplines do fraud examination and financial forensics encompass?

> Explain fraud examination methodology.

> Describe the fraud examiner/forensic accountant’s approach to investigations.

> Give examples of non-fraud forensic and litigation advisory engagements.

> Identify common fraud schemes.

> List the legal elements of fraud.

> What is the purpose of practice aids in forensic and valuation services?

> How do employees overstate legitimate expenses on their expense reports?

> What are the five principal categories of check tampering?

> What are the five major categories of fraudulent disbursements?

> What are the five major categories of fraudulent disbursements?

> Explain the theory of the fraud triangle.

> Identify the six situational categories that cause non-shareable problems from Cressey’s research.

> What role do fraud examination and financial forensic skills have in the corporate governance area?

> Why are manhole covers round?

> Anthony and Cleopatra are lying dead on the floor in a villa. Nearby on the floor is a broken bowl. There is no mark on either of their bodies and they were not poisoned. With this information, determine how they died.

> In the criminal justice system, how is probation different from parole?

> What are the different types of consulting and litigation support activities for fraud and forensic professionals?

> What approaches are used by investigators to obtain documents?

> Under what circumstances would a Miranda Warning be required?

> What are some red flags that may indicate that fraud is occurring?

> What is meant by inventory “shrinkage?”

> In cash larceny schemes, what methods may be used to conceal these schemes at the point of sale?

> What techniques are generally used to conceal a receivables skimming scheme?

> Why is sales skimming called an “off- book” fraud?

> What is the role of the external auditor in the financial reporting process?

> What constitutes evidence?

> How can financial statement fraud be deterred?

> A woman shoots her husband. Then she holds him under water for over 5 minutes. Finally, she hangs him. But 5 minutes later they both go out together and enjoy a wonderful dinner together. How can this be?

> Match threats in the first column to appropriate control procedures in the second column. More than one control may be applicable. Threat Control Procedure   Failing to take available purchase discounts for prompt payment. Only accept deliveries for

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