CB Study Guide 2026
Everything you need to pass the CB exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 CB Exam Format at a Glance
📚 CB Topics to Study (37)
✍️ Sample CB Questions & Answers
1. What is the recommended frequency for reviewing and updating fraud prevention and internal controls protocols?
Monitoring outcomes through regular data collection and trend analysis is the correct approach because effective fraud prevention and internal controls in the bookkeeper field requires adherence to professional standards, evidence-based practices, and systematic methodology. This approach ensures consistent, high-quality outcomes while maintaining professional accountability.
2. Which of the following BEST illustrates the concept of 'tone at the top' as it relates to bookkeeping ethics?
Tone at the top refers to leadership modeling ethical conduct, which sets the standard and culture for ethical behavior throughout the organization.
3. Which of the following scenarios best illustrates the risk of 'management override of controls'?
Management override occurs when executives use their authority to circumvent established controls, often to manipulate financial results.
4. A bookkeeper is responsible for issuing petty cash and also reconciling the petty cash fund. What risk does this create?
Allowing one person to both disburse and reconcile petty cash removes an important check, enabling them to misappropriate funds and conceal the theft.
5. Which of the following best describes inherent risk in the context of internal controls?
Inherent risk is the susceptibility of a financial statement assertion to material misstatement assuming no related controls exist.
6. Which of the following best describes a 'three-way match' in accounts payable?
A three-way match compares the purchase order, receiving report, and vendor invoice to ensure all three agree before payment is authorized.