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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Overview:
| Certification Vendor: | Association of Certified Fraud Examiners (ACFE) |
|---|---|
| Exam Name: | CFE Exam: Fraud Schemes and Financial Crimes |
| Exam Number: | CFE Exam - Fraud Schemes and Financial Crimes (Section) |
| Available Languages: | English |
| Certificate Validity Period: | Ongoing certification with Continuing Professional Education (CPE) requirements (no fixed expiration) |
| Exam Format: | Multiple Choice |
| Real Exam Qty: | 100 |
| Related Certifications: | Certified Fraud Examiner (CFE) |
| Exam Price: | Varies (ACFE membership + exam section fees) |
| Exam Duration: | 120 minutes |
| Passing Score: | 75% |
| Recommended Training: | ACFE Fraud Examination Training Courses |
| Exam Registration: | ACFE CFE Exam Registration |
| Sample Questions: | ACFE CFE-Fraud-Schemes-and-Financial-Crimes Sample Questions |
| Exam Way: | Computer-based, proctored online or test center delivery depending on region |
| Pre Condition: | Eligibility for CFE Exam typically requires qualifying education or relevant professional experience as defined by ACFE. |
| Official Syllabus URL: | https://www.acfe.com/cfe-exam |
ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Fraud Investigation and Analysis | - Data analysis in fraud detection
|
| Topic 2: Fraud Schemes | - Asset Misappropriation Schemes
|
| Topic 3: Financial Crimes | - Money Laundering
|
ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:
Which of the following measures would likely be MOST EFFECTIVE in helping to prevent fraudulent billing schemes?
- A. Requiring all fraud tips to be reported to employees' direct supervisors
- B. Prohibiting competitive bidding from potential contractors
- C. Separating the purchasing and payment functions
- D. Using an external vendor to negotiate procurement contracts
Correct Answer: C 🗳️
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Which of the following statements about competitive intelligence is CORRECT?
- A. Competitive intelligence involves the use of illegal, covert means to acquire information for commercial purposes.
- B. Competitive intelligence refers to government-sanctioned activities conducted to collect protected information from a foreign government.
- C. Competitive intelligence is considered a legitimate business function.
- D. Competitive intelligence and corporate espionage describe identical practices.
Correct Answer: C 🗳️
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Pilar had to purchase computer equipment for ABC Corporation, her employer. Pilar created a shell company, used the shell company to purchase used computer equipment, and then resold that equipment to ABC Corporation at an increased price. This is an example of a:
- A. Cash larceny scheme
- B. Pay and return scheme
- C. Need recognition scheme
- D. Pass-through scheme
Correct Answer: D 🗳️
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Financial statement fraud is BEST described as the intentional or accidental misstatement of amounts in the financial statements.
- A. True
- B. False
Correct Answer: B 🗳️
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In what type of fraud scheme does an employee steal cash after it has appeared on the company's books?
- A. Cash larceny scheme
- B. Understated sales (skimming) scheme
- C. Unrecorded sales (skimming) scheme
- D. Kickback scheme
Correct Answer: A 🗳️
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By Darcy
