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

CFE-Fraud-Schemes-and-Financial-Crimes real exams

Exam Code: CFE-Fraud-Schemes-and-Financial-Crimes

Exam Name: Certified Fraud Examiner -Fraud Schemes and Financial Crimes

Updated: Aug 13, 2026

Q & A: 355 Questions and Answers

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

SectionWeightObjectives
Asset Misappropriation – Non-Cash Assets5–10%- Misuse of assets
- Inventory and equipment theft
- Concealment techniques
Corruption Schemes5–10%- Bribery and kickbacks
- Illegal gratuities and extortion
- Conflicts of interest
Asset Misappropriation – Cash Receipts5–10%- Prevention and detection methods
- Cash larceny schemes
- Cash skimming schemes
Identity Theft1–5%- Prevention and detection
- Types and techniques
Accounting Concepts5–10%- Basic accounting principles
- Recording and summarizing transactions
- Internal control fundamentals
- Financial statements structure
Industry-Specific Financial Crimes15–25%- Healthcare fraud
- Real estate and securities fraud
- Insurance fraud
- Cyber-enabled and cryptocurrency fraud
- Financial institution fraud
Theft of Data and Intellectual Property5–10%- Corporate espionage
- Data and IP theft methods
- Safeguarding proprietary information
Asset Misappropriation – Cash Disbursements10–15%- Payroll schemes
- Check and payment tampering
- Billing schemes
- Expense reimbursement schemes
Financial Statement Fraud10–15%- Timing and disclosure manipulations
- Detection and red flags
- Expense and liability understatements
- Revenue and asset overstatements

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

1. Which of the following statements describes a best practice for preventing procurement fraud?

A) Companies should conduct background checks on vendors after they have been added to the company's vendor master file.
B) Companies should implement vendor-monitoring procedures that address the red flags of the vendor schemes that pose the greatest risk.
C) Companies should limit comprehensive audits of procurement activities to once a year to create a consistent data point for comparison from one year to the next.
D) Companies should assign the responsibility of approving invoice payments to the person who maintains the vendor master file so discrepancies can be better identified.


2. Which of the following scenarios is an example of an economic extortion scheme?

A) A government official demands money in exchange for awarding a contract to a vendor.
B) An employee receives a payment for directing excess business to a vendor.
C) A purchasing employee and vendor agree to bill the company for services that were not provided.
D) A vendor rewards a purchasing employee with a free trip after the employee directs business to the vendor.


3. In what type of fraud scheme does an employee steal cash after it has appeared on the company's books?

A) Unrecorded sales (skimming) scheme
B) Cash larceny scheme
C) Kickback scheme
D) Understated sales (skimming) scheme


4. Which of the following measures would help prevent the theft of company inventory?

A) Having the purchasing agent perform the physical inventory count
B) Appointing one individual to receive incoming inventory shipments and then distribute them
C) Using nonconsecutive shipping documents, job cost sheets, and inventory receiving reports
D) Restricting the ability to access inventory to authorized personnel


5. ________ decrease assets and expenses and/or increase liabilities and/or equity.

A) Journal Entries
B) Credit
C) Debit
D) None of all


Solutions:

Question # 1
Answer: B
Question # 2
Answer: A
Question # 3
Answer: B
Question # 4
Answer: D
Question # 5
Answer: B

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