ACFE CFE-Fraud-Schemes-and-Financial-Crimes Q&A - in .pdf

  • CFE-Fraud-Schemes-and-Financial-Crimes pdf
  • Exam Code: CFE-Fraud-Schemes-and-Financial-Crimes
  • Exam Name: Certified Fraud Examiner -Fraud Schemes and Financial Crimes
  • Updated: Sep 29, 2026
  • Q & A: 355 Questions and Answers
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  • Exam Code: CFE-Fraud-Schemes-and-Financial-Crimes
  • Exam Name: Certified Fraud Examiner -Fraud Schemes and Financial Crimes
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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:

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

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

                    Question #1

                    The principle behind full disclosure is:

                    • A. Any material deviation from GAAP must be explained to the reader of the financial information.
                    • B. Any material deviation from SAS must be explained to the writer of the financial information.
                    • C. Any material deviation from GAAP must be explained to the writer of the financial information.
                    • D. None of above
                    Reveal Solution  Discussion  0

                    Correct Answer: A  🗳️

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                    Question #2

                    Which of the following methods might a procuring employee use to engage in a bid manipulation scheme?

                    • A. Using materials that are low quality
                    • B. Charging for costs that are not permissible
                    • C. Disqualifying bids that are submitted correctly
                    • D. Opening the bidding process at the designated time
                    Reveal Solution  Discussion  0

                    Correct Answer: C  🗳️

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                    Question #3

                    The heart of the bookkeeping system is the ___________.

                    • A. Liability
                    • B. Asset
                    • C. Journal
                    • D. Checkbook
                    Reveal Solution  Discussion  0

                    Correct Answer: C  🗳️

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                    Question #4

                    Which of the following scenarios is an example of upcoding ?

                    • A. Dr. Loomis uses three procedure codes when submitting a claim for a surgery that she performed that is supposed to be billed using one procedure code
                    • B. Dr. Raul advises a patient with a small fracture in her leg to use crutches, but he submits the claim using a code to indicate that he placed a cast on the patient
                    • C. Cindy receives payment in exchange for allowing an unnecessary surgical procedure to be completed on her that is then billed to her health care program
                    • D. Landon inflates a medical bill that he wants to receive reimbursement for by misrepresenting the amount of the bill
                    Reveal Solution  Discussion  0

                    Correct Answer: B  🗳️

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                    Question #5

                    Which of the following options is the BEST example of a technical security control that organizations can use to block unauthorized or unverified transmissions?

                    • A. Firewalls
                    • B. Application security
                    • C. Data classification
                    • D. Cipher locks
                    Reveal Solution  Discussion  0

                    Correct Answer: A  🗳️

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