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

  • Exam Code: CFE-Fraud-Schemes-and-Financial-Crimes
  • Exam Name: Certified Fraud Examiner -Fraud Schemes and Financial Crimes
  • Updated: Oct 13, 2026
  • Q & A: 355 Questions and Answers

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

SectionObjectives
Financial Crimes- Corruption Schemes
  • 1. Kickbacks
    • 2. Bribery
      • 3. Conflicts of interest
        - Financial Statement Fraud
        • 1. Expense understatement
          • 2. Revenue manipulation
            • 3. Asset overstatement
              - Money Laundering
              • 1. Placement stage
                • 2. Integration stage
                  • 3. Layering stage
                    Fraud Schemes- Asset Misappropriation Schemes
                    • 1. Inventory and asset theft
                      • 2. Cash theft and skimming
                        • 3. Expense reimbursement fraud
                          • 4. Payroll fraud
                            - Fraudulent Disbursements
                            • 1. Billing shell companies
                              • 2. Check tampering
                                • 3. Billing schemes

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

                                  Question #1

                                  Shirley, a 68-year-old widow, connects with a stranger named Simon on a social networking site. Simon befriends her and says he looks forward to meeting her on the trip they have been planning. However, Simon tells Shirley that he recently lost his job and does not have the resources to pay for the trip. Shirley sends him
                                  $10,000 as a loan and never hears from Simon again. Shirley has MOST LIKELY been victimized by which of the following schemes?

                                  • A. Romance scheme
                                  • B. Bait-and-switch scheme
                                  • C. Grandparent scheme
                                  • D. Vacation scheme
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

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                                  Question #2

                                  Which of the following statements regarding new account fraud is MOST ACCURATE?

                                  • A. Automated teller machines (ATMs) are rarely targets of new account fraud because it is easier for criminals to commit fraud via face-to-face transactions.
                                  • B. It is more likely that fraud will occur in established accounts than in accounts that are still considered to be new.
                                  • C. New account fraud can be defined as any fraud that occurs on an account during the first six months that it is open.
                                  • D. Mobile deposits are at high risk for new account fraud because fraudsters can easily make deposits using forged or counterfeit images.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

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                                  Question #3

                                  Which of the following is a method of identity theft prevention that is recommended for businesses?

                                  • A. Use government identification numbers as employee identification numbers
                                  • B. Audit practices involving the handling of information only when regulators require it
                                  • C. Use encryption only when sending personal information externally through a hardwired internet connection
                                  • D. Collect government identification numbers from customers only when legally required to gather that information
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

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                                  Question #4

                                  Which of the following is one of the sections on the statement of cash flows?

                                  • A. Cash flows from financing activities
                                  • B. Cash flows from strategic activities
                                  • C. Cash flows from earnings activities
                                  • D. Cash flows from purchasing activities
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

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                                  Question #5

                                  The prime targets for skimming schemes, which are hard to monitor and predict such as late fees and parking fees, are:

                                  • A. Internal audits
                                  • B. Register manipulations
                                  • C. Recorded sales
                                  • D. Revenue sources
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

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