ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes : CFE-Fraud-Schemes-and-Financial-Crimes

CFE-Fraud-Schemes-and-Financial-Crimes real exams

Exam Code: CFE-Fraud-Schemes-and-Financial-Crimes

Exam Name: Certified Fraud Examiner -Fraud Schemes and Financial Crimes

Updated: Aug 22, 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 Investigation and Analysis- Data analysis in fraud detection
  • 1. Trend and anomaly identification
    - Evidence collection and documentation
    • 1. Chain of custody principles
      Topic 2: Fraud Schemes- Asset Misappropriation Schemes
      • 1. Skimming and cash larceny
        • 2. Billing and expense reimbursement fraud
          - Financial Statement Fraud
          • 1. Revenue recognition manipulation
            • 2. Asset overstatement and liability concealment
              Topic 3: Financial Crimes- Money Laundering
              • 1. Placement, layering, integration stages
                - Banking and Payment Fraud
                • 1. Wire fraud and electronic transfers
                  • 2. Check and credit card fraud

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

                    1. Joe's automobile insurance policy expired in June. In August, Joe was involved in an automobile accident, and his vehicle was severely damaged. After the accident, Joe contacted his insurance company and reinstated the policy. In September, Joe then submitted a claim with a September accident date for the damages that occurred to his vehicle in August. Joe has engaged in which of the following insurance schemes?

                    A) Staged accident
                    B) Vehicle repair
                    C) Past posting
                    D) Inflated damages


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

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


                    3. __________ is required if and when officers, executives, or other persons in trusted positions become subjects of a criminal indictment.

                    A) Disclosure
                    B) Resource diversion
                    C) Turnaround sale or flip
                    D) Conflict of interest


                    4. Which of the following scenarios MOST ACCURATELY represents a suitability violation in a jurisdiction that imposes a suitability requirement on broker-dealers?

                    A) A broker-dealer advises a client on a promising investment without first discussing the customer's investment strategy.
                    B) A broker-dealer recommends an investment to a client that aligns with their objectives, but it allows the broker-dealer to generate a high commission.
                    C) A broker-dealer refuses to make an investment on a client's behalf because they are unfamiliar with the client's financial profile.
                    D) A broker-dealer suggests an investment strategy that aligns with their client's objectives and risk appetite but involves volatile funds.


                    5. Depreciation is especially applicable when companies try to overvalue their assets and net worth; the lower their depreciation expense, the higher the company's profits.

                    A) True
                    B) False


                    Solutions:

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

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