ACFE CFE-Fraud-Schemes-and-Financial-Crimes : Certified Fraud Examiner -Fraud Schemes and Financial Crimes

  • Exam Code: CFE-Fraud-Schemes-and-Financial-Crimes
  • Exam Name: Certified Fraud Examiner -Fraud Schemes and Financial Crimes
  • Updated: Aug 25, 2026
  • Q & A: 355 Questions and Answers

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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:

SectionObjectives
Topic 1: Fraud Schemes- Asset Misappropriation Schemes
  • 1. Billing and expense reimbursement fraud
    • 2. Skimming and cash larceny
      - Financial Statement Fraud
      • 1. Revenue recognition manipulation
        • 2. Asset overstatement and liability concealment
          Topic 2: Fraud Investigation and Analysis- Data analysis in fraud detection
          • 1. Trend and anomaly identification
            - Evidence collection and documentation
            • 1. Chain of custody principles
              Topic 3: Financial Crimes- Money Laundering
              • 1. Placement, layering, integration stages
                - Banking and Payment Fraud
                • 1. Check and credit card fraud
                  • 2. Wire fraud and electronic transfers

                    ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:

                    1. When an employee processes a fictitious refund of goods for cash, which of the following consequences occurs?

                    A) The amount of cash in the register remains unchanged.
                    B) Merchandise is returned to the company's stockroom.
                    C) The register log matches the amount of cash in the register.
                    D) The victim company's reported inventory balance is understated.


                    2. Which of the following actions would constitute intellectual property theft?

                    A) A corporate agent encourages a friend who works in research and development at a competing organization to apply for a position at the agent's company.
                    B) A corporate agent reviews open-source information about a competitor to gather data on its financial performance during the previous year.
                    C) A corporate agent accesses a competitor's computer network and obtains files that discuss the competitor's future pricing strategy.
                    D) A corporate agent submits false invoices to an accounts payable employee at a competing organization to obtain payment for services that were not rendered.


                    3. Which of the following is the MOST ACCURATE statement about the phases of procurements involving open and free competition among contractors?

                    A) In the presolicitation phase, prospective contractors prepare and submit their bids.
                    B) In the solicitation phase, the procuring entity identifies its needs and develops the criteria used to award the contract.
                    C) In the post-award and administration phase, the parties that were contracted perform their contractual obligations.
                    D) In the bid evaluation and award phase, the procuring entity issues the solicitation document.


                    4. Which of the following is NOT a common way that a procuring employee might engage in a bid manipulation scheme?

                    A) Opening bids prematurely
                    B) Altering bids
                    C) Using low-quality materials
                    D) Extending bid opening dates without justification


                    5. Which of the following must be present for a fraud to exist?

                    A) Reliance on the false statement by the victim
                    B) All of the above
                    C) Knowledge that the statement was false when it was uttered
                    D) A material false statement


                    Solutions:

                    Question # 1
                    Answer: C
                    Question # 2
                    Answer: C
                    Question # 3
                    Answer: C
                    Question # 4
                    Answer: C
                    Question # 5
                    Answer: B

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