CFE Practice Exam - Certified Fraud Examiner

Introduction of ACFE CFE Exam!

The Certified Fraud Examiner (CFE) exam is a comprehensive exam administered by the Association of Certified Fraud Examiners (ACFE). The exam is designed to test the knowledge, skills, and abilities of fraud examiners in the areas of fraud prevention, detection, investigation, and deterrence. The exam consists of multiple-choice questions and is administered in a computer-based format.

What is the Duration of ACFE CFE Exam?

The duration of the ACFE CFE Exam is four hours.

What are the Number of Questions Asked in ACFE CFE Exam?

The ACFE CFE Exam consists of 200 multiple-choice questions.

What is the Passing Score for ACFE CFE Exam?

The passing score for the ACFE CFE Exam is 75%.

What is the Competency Level required for ACFE CFE Exam?

The ACFE CFE exam requires a professional level of competency. The ACFE has established a specific set of competencies that must be demonstrated in order to become certified. These competencies include fraud examination, fraud prevention, detection, and deterrence, as well as the development of effective anti-fraud policies and procedures.

What is the Question Format of ACFE CFE Exam?

The ACFE CFE Exam consists of multiple-choice questions, with some questions including exhibits.

How Can You Take ACFE CFE Exam?

The ACFE CFE Exam is offered in two formats: online and in a testing center. To take the exam in a testing center, you must register through the ACFE website and select the testing center option. You will then be directed to a Pearson VUE testing center to take the exam. To take the exam online, you must register through the ACFE website and select the online option. You will then be directed to the ACFE Online Exam Platform to take the exam.

What Language ACFE CFE Exam is Offered?

The ACFE CFE Exam is offered in English only.

What is the Cost of ACFE CFE Exam?

The cost of the ACFE CFE Exam is $395.

What is the Target Audience of ACFE CFE Exam?

The primary target audience of the ACFE CFE Exam is Certified Fraud Examiners (CFEs) who wish to become Certified Fraud Examiners. The exam is designed to test a candidate's knowledge of the fraud examination process, including fraud prevention, detection and investigation. Additionally, the exam tests a candidate's knowledge of fraud-related legal and regulatory issues.

What is the Average Salary of ACFE CFE Certified in the Market?

The average salary of a Certified Fraud Examiner (CFE) can vary greatly depending on the employer, the industry, and the geographic location. According to the Association of Certified Fraud Examiners (ACFE), the average salary for a CFE is $90,000 per year.

Who are the Testing Providers of ACFE CFE Exam?

The ACFE (Association of Certified Fraud Examiners) is the only organization that offers the CFE (Certified Fraud Examiner) exam. They provide testing through Pearson VUE, which is a global leader in computer-based testing for professional certification.

What is the Recommended Experience for ACFE CFE Exam?

The Association of Certified Fraud Examiners (ACFE) recommends that candidates have at least two years of professional experience related to fraud examination, including investigative experience in the areas of fraud prevention, detection and deterrence.

What are the Prerequisites of ACFE CFE Exam?

The prerequisite for the ACFE CFE Exam is a bachelor's degree from an accredited college or university and two years of professional experience in fraud prevention, detection, or deterrence, or a related field. Additionally, candidates must also complete an application form, agree to the CFE Code of Professional Ethics, and pay the exam registration fee.

What is the Expected Retirement Date of ACFE CFE Exam?

The official website for the Association of Certified Fraud Examiners (ACFE) is https://www.acfe.com/. You can find information about the CFE Exam, including the expected retirement date, on the ACFE website.

What is the Difficulty Level of ACFE CFE Exam?

The ACFE CFE exam is considered to be a moderate difficulty level exam. The exam contains 200 multiple-choice questions and requires approximately six hours to complete.

What is the Roadmap / Track of ACFE CFE Exam?

The ACFE CFE Exam is a rigorous four-hour, 200-question exam that tests an individual’s knowledge of fraud examination. It is designed to measure an individual’s knowledge of the four areas of fraud examination: Fraud Prevention and Deterrence, Fraud Investigation, Fraud Law, and Fraud Forensic Accounting. The exam is offered in a variety of formats, including online, paper-and-pencil, and computer-based testing. The certification track/roadmap for the ACFE CFE Exam includes completing the CFE Exam Prep Course, passing the CFE Exam, and becoming a Certified Fraud Examiner (CFE).

What are the Topics ACFE CFE Exam Covers?

The ACFE CFE Exam covers four main topics:

1. Fraud Prevention and Deterrence: This topic covers the principles of fraud prevention, detection, and deterrence. It includes topics such as the prevention and detection of fraud, the role of fraud auditors, and the use of data analytics to detect fraud.

2. Financial Transactions and Fraud Schemes: This topic covers the various types of financial transactions and fraud schemes, including fraudulent financial statements, asset misappropriation, and corruption. It also covers the investigation and detection of these schemes and the related legal issues.

3. Law, Investigation, and Interviewing: This topic covers the laws and regulations related to fraud, the investigation process, and interviewing techniques. It includes topics such as the legal aspects of fraud, the use of forensic techniques, and the interviewing process.

4. Fraud Management and Technology: This topic covers the management of fraud and the use of technology to detect and prevent fraud.

What are the Sample Questions of ACFE CFE Exam?

1. What are the three main components of the ACFE Code of Professional Ethics?
2. What are the five steps of the fraud examination process?
3. What are the different types of fraud that an investigator may encounter?
4. How can an investigator identify red flags related to fraud?
5. How can an investigator gather evidence related to fraud?
6. What are the best practices for interviewing witnesses and suspects?
7. What are the most common methods used to detect fraud?
8. What are the elements of a successful fraud prevention program?
9. What are the potential legal implications for an organization that fails to detect and prevent fraud?
10. How can an organization protect itself from future fraud incidents?