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ACFE CFE-Fraud-Schemes-and-Financial-Crimes

CFE-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 06, 2026

Q&A Number: 355 Q&As

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

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

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

                    1. In the fraud scale, pressure, opportunity, and integrity variables all result in a list of ___ possible red flags or indicators of occupational fraud and abuse.

                    A) 82
                    B) 83
                    C) 84
                    D) 81


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

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


                    3. A company moves its headquarters to another jurisdiction to take advantage of a lower tax rate. The company is MOST LIKELY using which of the following options?

                    A) A tax shelter
                    B) A jurisdictional deduction
                    C) A tax haven
                    D) A secrecy jurisdiction


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

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


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

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


                    Solutions:

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

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