Stephen Colbert Grills James Franco on Whether He's a 'Fraud' (Video)

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With all of his projects, interests and side-hustles, James Franco might seem more of a dilettante than a seasoned Hollywood actor. The job-shifting human enigma balances lead roles in Hollywood films with literary endeavors (he writes poetry and has a new pseudo-memoir coming out), music (he recently released a Motown-inspired album) and art (yes, he paints too).

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Stephen Colbert, or rather his impish Comedy Central alter ego, seems suspicious of Franco's jack-of-all-trades public persona, comparing the multi-hyphenate star to his portrayal of The Wizard in Sam Raimi's Oz the Great and Powerful.

"He's something like you. He's a Renaissance man, you're a Renaissance man. Are you also a fraud?" asked Colbert during Franco's Tuesday-night appearance on The Colbert Report.

"I am a fraud! This is an act," responded Franco, grinning hugely.

FILM REVIEW: Oz the Great and Powerful

Pressing on, Colbert asked: "Why do you do all the things that you do. You're a great actor -- why not just drill in on acting?" Franco's response: he dropped out of school, overcompensated for his lack of education by "studying a lot." The result: he's a perpetual student of the arts.

As Oz, Franco stars alongside Michelle Williams, Rachel Weisz and Mila Kunis, who all play witches engaged in a battle of good versus evil.

"Let's play marry, hit that, throw a pail of water on her," Colbert demanded, to which Franco replied: "You're gonna get me in so much trouble!"

Singling out Weisz, Colbert joked: "I wouldn't mind dropping a house on that."