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 04, 2026   Q&As: 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- Financial Statement Fraud
      • 1. Revenue recognition manipulation
        • 2. Asset overstatement and liability concealment
          - Asset Misappropriation Schemes
          • 1. Billing and expense reimbursement fraud
            • 2. Skimming and cash larceny
              Topic 3: 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
                    ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:
                    Question #1

                    If the assets are intentionally purchased by the company but simply misappropriated by the fraudster, this is referred to as:

                    • A. Inventory larceny scheme
                    • B. Asset receiving scheme
                    • C. Fraudulent purchase
                    • D. Falsify shipping
                    Reveal Solution  Discussion  0

                    Correct Answer: C  🗳️

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

                    Question #2

                    Which of the following situations describes a red flag that might be indicative of loan fraud?

                    • A. A loan file contains missing documents that are later found in another file.
                    • B. The number of change orders for a small project continues to increase.
                    • C. A change order is submitted at the same time as a draw request.
                    • D. There is low turnover in a real estate developer's personnel.
                    Reveal Solution  Discussion  0

                    Correct Answer: C  🗳️

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

                    Question #3

                    Which of the following reasons is an acceptable justification for departing from generally accepted accounting principles (GAAP)?

                    • A. Applying a different accounting framework would increase the organization's ability to grow internationally.
                    • B. A departure from GAAP would make the company appear more profitable.
                    • C. Reporting a transaction in a way that is compliant with GAAP would be significantly more expensive.
                    • D. The expected costs of following GAAP exceed the expected benefits of compliance.
                    Reveal Solution  Discussion  0

                    Correct Answer: D  🗳️

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

                    Question #4

                    Which of the following statements regarding using front businesses as a method of laundering money is MOST ACCURATE?

                    • A. Front businesses can often be detected because these businesses have a large number of customers during peak operating hours and high income.
                    • B. Bars, restaurants, and nightclubs are commonly used as front businesses because these venues tend to charge relatively low prices and customers rarely vary in their purchases.
                    • C. Money launderers are able to benefit from using front businesses to hide their illegal income because they can easily avoid paying taxes on that income.
                    • D. Front businesses are a favored method because it is difficult to match the costs associated with providing customers food, liquor, and entertainment with the revenues produced.
                    Reveal Solution  Discussion  0

                    Correct Answer: D  🗳️

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

                    Question #5

                    Which of the following scenarios BEST describes an electronic funds transfer (EFT) fraud scheme?

                    • A. A hacker obtains the account and password information of consumers and uses them to direct funds from their accounts.
                    • B. An individual uses another person's personal identifying information to fill out a credit card application in their name and plans to make online purchases using the new card.
                    • C. An employee of a person-to-person (P2P) provider misrepresents the number of hours that they worked to increase the amount of money earned on their paycheck.
                    • D. A restaurant server secretly scans a customer's credit card information into a small device for fraudulent use at a later time.
                    Reveal Solution  Discussion  0

                    Correct Answer: A  🗳️

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

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