ACFE CFE-Financial-Transactions-and-Fraud-Schemes : Certified Fraud Examiner - Financial Transactions and Fraud Schemes Exam

  • Exam Code: CFE-Financial-Transactions-and-Fraud-Schemes
  • Exam Name: Certified Fraud Examiner - Financial Transactions and Fraud Schemes Exam
  • Updated: Oct 13, 2026
  • Q & A: 237 Questions and Answers

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

TopicDetails
Topic 1
  • Law: This section evaluates the knowledge of Auditors regarding legal systems, fraud-related laws, bankruptcy fraud, securities fraud, money laundering, tax fraud, individual rights during investigations, criminal and civil proceedings, evidence principles, and expert testimony. Key areas include legal frameworks, prosecution processes, anti-money laundering regulations, and compliance with data privacy laws like GDPR.
Topic 2
  • Financial Transactions and Fraud Schemes: This section measures the skills of Fraud Examiners and covers foundational accounting concepts, financial statement fraud schemes, asset misappropriation (cash receipts, disbursements, inventory), corruption, data theft, identity theft, and sector-specific fraud (financial institutions, payment, insurance, healthcare, consumer, cyber, contract
  • procurement). Topics include accounting frameworks, fraud detection methods, and prevention strategies across various transactional contexts.
Topic 3
  • Investigation: This section assesses Fraud Examiners on planning and conducting fraud examinations, evidence collection, interview techniques (including suspect interrogations), covert operations, information sourcing, data analysis, digital forensics, asset tracing, and report writing. Emphasis is placed on legal compliance, behavioral analysis, and leveraging technology for evidence gathering and analysis.
Topic 4
  • Fraud Prevention and Deterrence: This section measures Auditors’ understanding of criminal behavior theories, white-collar crime dynamics, corporate governance, management’s fraud-related responsibilities, fraud risk assessments, ethics, and anti-fraud programs. Topics include internal controls, COSO frameworks, fraud risk management, ethical standards for examiners, and strategies to foster an organizational anti-fraud culture.

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

Question #1

____________ corrupt employees can cause inventory to be fraudulently delivered to themselves or accomplices.

  • A. False shipping slip
  • B. False credit slip
  • C. Fraudulent inventory slip
  • D. False packing slip
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #2

Which of the following is not a skimming scheme?

  • A. Theft of checks through the mail
  • B. Understated sales and receivables
  • C. Unrecorded sales
  • D. Fraud & Cost
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #3

____________ is a summary of the account balances carried in a ledger.

  • A. Financial statement
  • B. General journal
  • C. Income statement
  • D. Balance sheet
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #4

Which of the following is TRUE regarding ghost employee schemes?

  • A. The ghost employee must be classified as an exempt employee.
  • B. The ghost employee must be someone who has never worked for the victim company.
  • C. The ghost employee must be added to the payroll.
  • D. The ghost employee must be a fictitious person.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #5

A special scheme in which employees know their employer is seeking to purchase a certain asset and take advantage of the situation by purchasing the asset themselves is:

  • A. Turnaround sale or flip
  • B. Conflict of interest in sale
  • C. Written sale of unique assets
  • D. Unauthorized sale
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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