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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 13, 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. Skimming and cash larceny
    • 2. Billing and expense reimbursement fraud
      - Financial Statement Fraud
      • 1. Asset overstatement and liability concealment
        • 2. Revenue recognition manipulation
          Topic 2: Financial Crimes- Banking and Payment Fraud
          • 1. Check and credit card fraud
            • 2. Wire fraud and electronic transfers
              - Money Laundering
              • 1. Placement, layering, integration stages
                Topic 3: 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. The difference between assets and liabilities is called:

                    A) Revenue
                    B) Expense
                    C) Equity
                    D) Income statement


                    2. Reconciling the sales records to the cash receipts is an effective way to detect a sales skimming scheme.

                    A) False
                    B) True


                    3. Financial statement fraud is committed by:

                    A) Mid and lower-level employees
                    B) All of the above
                    C) Organized criminals
                    D) Senior Management


                    4. In which approach do fraudsters produce whatever financial statements they wish, perhaps using just a typewriter or a personal computer?

                    A) Organized accounting
                    B) Outside accounting system
                    C) Beating accounting
                    D) Playing the accounting


                    5. According to SAB 104, for revenue to be considered realized or realizable and earned, which of the following criteria is NOT met?

                    A) Persuasive evidence of an arrangement exists
                    B) Services have been rendered
                    C) Timings have been met
                    D) Collectability is reasonably assured


                    Solutions:

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

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