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

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

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

Question #1

When a victim company purchases unnecessary goods or services from a supplier at the direction of the corrupt employee, this results in:

  • A. False sole-source scheme
  • B. Submission scheme
  • C. Presolicitation scheme
  • D. Need recognition scheme
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #2

Assets that are long-lived and that differ from property, plant, and equipment that has been purchased outright or acquired under a capital lease are:

  • A. Forced Assets
  • B. None of the above
  • C. Intangible Assets
  • D. Tangible Assets
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Correct Answer: C  🗳️

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Question #3

Jay works in the warehouse of a retail company. When a shipment of 100 pieces of jewelry arrives, Jay hides
20 pieces in the waste containers behind the store so he can retrieve them at the end of the workday. Jay sends a receiving report to accounts payable indicating that all 100 pieces arrived. However, he alters a copy of the receiving report to exclude the 20 pieces he hid so that the physical inventory matches the inventory records.
What type of scheme did Jay commit?

  • A. A register disbursement scheme
  • B. A false sale scheme
  • C. A skimming scheme
  • D. A purchasing and receiving scheme
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Correct Answer: D  🗳️

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Question #4

Which of the following measures is recommended to help prevent payroll fraud?

  • A. Assign payroll preparation and payroll bank account reconciliations to one employee.
  • B. Require employees to designate a coworker to collect paychecks on their behalf if they are absent during distribution.
  • C. Discourage employees from using direct deposit for payroll payments.
  • D. Require supervisors to authorize all overtime and to verify the time worked by each of their employees.
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Correct Answer: D  🗳️

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Question #5

Which of the following methods would NOT be helpful in detecting a skimming scheme?

  • A. Performing physical inventory counts
  • B. Comparing cash register totals to the cash count
  • C. Examining journal entries for false credits made to the inventory
  • D. Confirming customers' unpaid account balances
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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