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

SectionWeightObjectives
Industry-Specific Financial Crimes15–25%- Real estate and securities fraud
- Healthcare fraud
- Cyber-enabled and cryptocurrency fraud
- Financial institution fraud
- Insurance fraud
Theft of Data and Intellectual Property5–10%- Safeguarding proprietary information
- Data and IP theft methods
- Corporate espionage
Asset Misappropriation – Cash Receipts5–10%- Prevention and detection methods
- Cash larceny schemes
- Cash skimming schemes
Accounting Concepts5–10%- Financial statements structure
- Recording and summarizing transactions
- Basic accounting principles
- Internal control fundamentals
Asset Misappropriation – Non-Cash Assets5–10%- Misuse of assets
- Inventory and equipment theft
- Concealment techniques
Financial Statement Fraud10–15%- Revenue and asset overstatements
- Detection and red flags
- Timing and disclosure manipulations
- Expense and liability understatements
Asset Misappropriation – Cash Disbursements10–15%- Expense reimbursement schemes
- Check and payment tampering
- Payroll schemes
- Billing schemes
Identity Theft1–5%- Prevention and detection
- Types and techniques
Corruption Schemes5–10%- Bribery and kickbacks
- Illegal gratuities and extortion
- Conflicts of interest

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

1. Which of the following measures is a best practice for preventing expense reimbursement schemes?

A) Inform employees that expense reports will be periodically audited to ensure they meet the company's guidelines.
B) Provide employees with cash advances to limit the amount of funds that could be misappropriated.
C) Establish a policy that only requires employees to submit supporting documentation for their expenses if they fall into certain high-risk categories.
D) Ask employees to submit their expense reports directly to the department that processes reimbursements without manager review.


2. Undisclosed payments made by vendors to employees of purchasing companies are referred to as:

A) Bid-rigging
B) None of the above
C) Presolicitation
D) Kickbacks


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

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


4. _____________ involves purposeful misreporting of financial information about the organization that is intended to mislead those who read it.

A) None of the above
B) Fraudulent statement
C) Asset misappropriations
D) Corruption


5. Jonathan, a Certified Fraud Examiner (CFE), is tasked with identifying potential indicators of intrusion into his employer's computer network. Which of the following might indicate that the organization's network has been compromised or accessed without authorization?

A) When logging into the computer network, employees receive a reminder to change their log-in passwords before they expire.
B) Network users are prompted to install unfamiliar software onto their computers.
C) Users are denied access to network files they do not typically use in their organizational role.
D) The network is receiving data from a country where one of the organization's suppliers is located.


Solutions:

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

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