Exam Code: CFE-Fraud-Schemes-and-Financial-Crimes
Exam Name: Certified Fraud Examiner -Fraud Schemes and Financial Crimes
Certification Provider: ACFE
Corresponding Certification: Certified Fraud Examiner
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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Accounting Concepts5–10%- Basic accounting principles
- Financial statements structure
- Recording and summarizing transactions
- Internal control fundamentals
Topic 2: Theft of Data and Intellectual Property5–10%- Data and IP theft methods
- Safeguarding proprietary information
- Corporate espionage
Topic 3: Asset Misappropriation – Cash Disbursements10–15%- Billing schemes
- Expense reimbursement schemes
- Check and payment tampering
- Payroll schemes
Topic 4: Identity Theft1–5%- Prevention and detection
- Types and techniques
Topic 5: Industry-Specific Financial Crimes15–25%- Healthcare fraud
- Real estate and securities fraud
- Insurance fraud
- Cyber-enabled and cryptocurrency fraud
- Financial institution fraud
Topic 6: Asset Misappropriation – Cash Receipts5–10%- Cash skimming schemes
- Cash larceny schemes
- Prevention and detection methods
Topic 7: Corruption Schemes5–10%- Conflicts of interest
- Bribery and kickbacks
- Illegal gratuities and extortion
Topic 8: Asset Misappropriation – Non-Cash Assets5–10%- Misuse of assets
- Inventory and equipment theft
- Concealment techniques
Topic 9: Financial Statement Fraud10–15%- Revenue and asset overstatements
- Timing and disclosure manipulations
- Expense and liability understatements
- Detection and red flags

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

A tangible asset is one which is:

  • A. Neither A nor B
  • B. Capable of being perceived
  • C. Capable of being appraised
  • D. Both A & B
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Which of the following is the MOST APPROPRIATE technique for detecting a nonconforming goods or services scheme?

  • A. Interviewing complaining contractors and unsuccessful bidders about the presence of red flags
  • B. Comparing the direct and indirect labor account totals from the prior year to the current year
  • C. Reviewing correspondence and contract files for indications of noncompliance regarding specifications
  • D. Determining if the costs of the contract have exceeded or are expected to exceed the value of the contract
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Which of the following scenarios is an example of upcoding ?

  • A. Dr. Raul advises a patient with a small fracture in her leg to use crutches, but he submits the claim using a code to indicate that he placed a cast on the patient
  • B. Landon inflates a medical bill that he wants to receive reimbursement for by misrepresenting the amount of the bill
  • C. Cindy receives payment in exchange for allowing an unnecessary surgical procedure to be completed on her that is then billed to her health care program
  • D. Dr. Loomis uses three procedure codes when submitting a claim for a surgery that she performed that is supposed to be billed using one procedure code
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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

  • A. A driver caught violating the speed limit offers a law enforcement officer payment to avoid receiving a speeding ticket.
  • B. A purchasing employee and vendor agree to bill the employee's company for services that the vendor did not provide.
  • C. A judge threatens to rule against a defendant during a judicial proceeding unless the defendant pays them money.
  • D. A contractor rewards a government employee with concert tickets after winning a contract with their agency.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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By removing a tangible asset from the business (a debit), the books will be ___________ by the exact amount of the tangible asset misappropriated.

  • A. Journal Entries
  • B. Out-of-balance
  • C. False debits
  • D. None of all
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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