ACFE CFE-Fraud-Schemes-and-Financial-Crimes real exam prep : 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: Oct 06, 2026
Q&As: 355 Questions and Answers

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

Section	Weight	Objectives
Topic 1: Corruption Schemes	5–10%	- Bribery and kickbacks - Conflicts of interest - Illegal gratuities and extortion
Topic 2: Asset Misappropriation – Cash Disbursements	10–15%	- Billing schemes - Expense reimbursement schemes - Payroll schemes - Check and payment tampering
Topic 3: Accounting Concepts	5–10%	- Financial statements structure - Recording and summarizing transactions - Basic accounting principles - Internal control fundamentals
Topic 4: Industry-Specific Financial Crimes	15–25%	- Healthcare fraud - Financial institution fraud - Insurance fraud - Cyber-enabled and cryptocurrency fraud - Real estate and securities fraud
Topic 5: Asset Misappropriation – Cash Receipts	5–10%	- Prevention and detection methods - Cash larceny schemes - Cash skimming schemes
Topic 6: Financial Statement Fraud	10–15%	- Detection and red flags - Expense and liability understatements - Timing and disclosure manipulations - Revenue and asset overstatements
Topic 7: Asset Misappropriation – Non-Cash Assets	5–10%	- Misuse of assets - Inventory and equipment theft - Concealment techniques
Topic 8: Identity Theft	1–5%	- Prevention and detection - Types and techniques
Topic 9: Theft of Data and Intellectual Property	5–10%	- Safeguarding proprietary information - Data and IP theft methods - Corporate espionage

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

Question #1

When a victim company purchases unnecessary goods or services from a supplier at the direction of the corrupt employee, this results in:

A. False sole-source scheme
B. Presolicitation scheme
C. Need recognition scheme
D. Submission scheme

Reveal Solution Discussion 0

Correct Answer: C 🗳️

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Question #2

Statistical sampling enables the examiner to predict the occurrence rate for the population and therefore determine with some accuracy the error rate, or the potential for fraud.

A. False
B. True

Reveal Solution Discussion 0

Correct Answer: B 🗳️

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Question #3

One of the simplest ways to justify unacceptable conduct and avoid guilt feelings is to invent a good reason for ________.

Reveal Solution Discussion 0

Correct Answer:

One's actions (i.e., Rationalization)
* Rationale for Correct Answer: Rationalization is the cognitive process by which fraud perpetrators justify their unethical conduct so they can commit fraud without feeling like criminals. A common way is to "invent a good reason" for their actions (e.g., "I deserve it," "I'll pay it back," "Everyone else is doing it"). Thus, the correct completion is "one's actions" or more precisely, Rationalization .
* Analysis of Incorrect Options: Since this is a fill-in-the-blank, the distractors are implied. The only correct concept here is rationalization of one's actions .
* Key Concept: Rationalization - one leg of the fraud triangle.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Fraud Theory - Rationalization in Cressey's Fraud Triangle .

Question #4

Which of the following statements is TRUE regarding income statements?

A. Gross profit is the difference between net sales and cost of goods sold.
B. A company's operating expenses are usually listed as the first line item.
C. Gross revenue is the total amount of sales after deductions are applied.
D. Net profit is a company's earnings before operating expenses have been deducted.

Reveal Solution Discussion 0

Correct Answer: A 🗳️

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Question #5

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

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

Reveal Solution Discussion 0

Correct Answer: D 🗳️

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ACFE CFE-Fraud-Schemes-and-Financial-Crimes real exam prep : Certified Fraud Examiner -Fraud Schemes and Financial Crimes

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