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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Industry-Specific Financial Crimes | 15–25% | - Insurance fraud - Healthcare fraud - Financial institution fraud - Real estate and securities fraud - Cyber-enabled and cryptocurrency fraud |
| Asset Misappropriation – Non-Cash Assets | 5–10% | - Concealment techniques - Inventory and equipment theft - Misuse of assets |
| Accounting Concepts | 5–10% | - Financial statements structure - Basic accounting principles - Recording and summarizing transactions - Internal control fundamentals |
| Corruption Schemes | 5–10% | - Conflicts of interest - Bribery and kickbacks - Illegal gratuities and extortion |
| Identity Theft | 1–5% | - Types and techniques - Prevention and detection |
| Asset Misappropriation – Cash Disbursements | 10–15% | - Billing schemes - Payroll schemes - Check and payment tampering - Expense reimbursement schemes |
| Theft of Data and Intellectual Property | 5–10% | - Corporate espionage - Data and IP theft methods - Safeguarding proprietary information |
| Asset Misappropriation – Cash Receipts | 5–10% | - Cash skimming schemes - Cash larceny schemes - Prevention and detection methods |
| Financial Statement Fraud | 10–15% | - Expense and liability understatements - Revenue and asset overstatements - Timing and disclosure manipulations - Detection and red flags |
ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:
1. Which of the following actions can make mobile payments more secure?
A) Activating biometric authentication to verify the user's identity
B) None of the above
C) Disabling the biometric features on a newer mobile device
D) Using the same log-in credentials for all payment applications
2. Brenda was a cashier at a retail store. When Brenda's friend shopped at the store, she would take her merchandise to Brenda's cash register. Instead of charging her friend, Brenda would record a No-Sale transaction on the register, and her friend would pretend to pay for the merchandise. Brenda's friend would leave the store without paying for the merchandise, and the two would later divide the merchandise between themselves. This scheme can BEST be described as:
A) A register disbursement scheme
B) A purchasing and receiving scheme
C) A false sale scheme
D) A skimming scheme
3. Which of the following scenarios describes a card skimming or shimming scheme?
A) After receiving a batch of corporate credit cards, an accounting employee takes a photo of the cards to sell the payment information on the dark web.
B) After processing a customer's payment for a meal, a server returns with the receipt but keeps the payment card, hoping that the customer does not notice.
C) An individual attaches a device and small camera to an automated teller machine, which allows them to scan and record customers' payment card information.
D) A store clerk encourages a customer to tap their card on a contactless device for payment and reprints the receipt after the customer has left.
4. Which of the following statements describes a best practice for preventing contract and procurement fraud?
A) Companies should permit the person who maintains the vendor master file to also have authority to approve payments for invoices.
B) Companies should restrict the monitoring of their procurement activities to once a year to ensure comparability from year to year.
C) Companies should have vendor-monitoring procedures that address the red flags of all vendor schemes.
D) Companies should conduct background checks on all vendors before they are added to the vendor master file.
5. Which of the following is TRUE regarding accrual-basis accounting?
A) Revenues are generally recognized when goods are delivered to a customer.
B) Expenses are recorded in the accounting system when they are paid.
C) The accrual-basis method focuses on tracking a company's current cash flow.
D) Accrual-basis accounting is simpler to use than cash-basis accounting.
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: C | Question # 4 Answer: D | Question # 5 Answer: A |








