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 02, 2026     Q & A: 355 Questions and Answers

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Following are some reference material for actual ACFE CFE-Fraud-Schemes-and-Financial-Crimes exam test

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

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

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

                                  Question #1

                                  A variation between the physical inventory and the perpetual inventory totals is called:

                                  • A. Account receivable
                                  • B. Write-offs
                                  • C. Altered inventory
                                  • D. Shrinkage
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

                                  Explanation: Only visible for Pass4guide members. You can sign-up / login (it's free).

                                  Question #2

                                  Which of the following measures would be MOST EFFECTIVE for insurance companies to take to prevent fraud?

                                  • A. Require one person to conduct all claims processing and underwriting functions in order to maintain control over the process.
                                  • B. Discourage any information sharing with other insurance companies or internal divisions to mitigate the risk of fraud.
                                  • C. Start a monitoring program to track how policyholders use their claim distributions to determine if they are involved in fraudulent activity.
                                  • D. Inspect insurance policy applications for irregularities, inconsistencies, and missing information before granting insurance coverage.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

                                  Explanation: Only visible for Pass4guide members. You can sign-up / login (it's free).

                                  Question #3

                                  Bid-rigging scheme occurs when:

                                  • A. An employee once assists a vendor in winning a contract through a single competitive bidding process.
                                  • B. An employee does not assist a vendor in winning a contract through the competitive bidding process.
                                  • C. An employee fraudulently assists a vendor in winning a contract through the competitive bidding process.
                                  • D. An employee once assists a vendor in winning a contract through a single competitive bidding process.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  🗳️

                                  Explanation: Only visible for Pass4guide members. You can sign-up / login (it's free).

                                  Question #4

                                  The difference between assets and liabilities is called:

                                  • A. Revenue
                                  • B. Equity
                                  • C. Expense
                                  • D. Income statement
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B  🗳️

                                  Explanation: Only visible for Pass4guide members. You can sign-up / login (it's free).

                                  Question #5

                                  Which of the following is a reason why prepaid debit and gift card fraud schemes are appealing to fraudsters?

                                  • A. All of the above are reasons why prepaid cards are appealing to fraudsters.
                                  • B. Prepaid cards can be purchased with stolen credit cards and used to quickly convert illicit credit card funds into legitimate cash.
                                  • C. Prepaid cards can only be purchased from financial institutions.
                                  • D. Prepaid cards are often not accepted by online retailers and can only be used in transactions in which the cards must be physically present.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B  🗳️

                                  Explanation: Only visible for Pass4guide members. You can sign-up / login (it's free).

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