ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes : CFE-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 & A: 355 Questions and Answers

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

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

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

Question #1

Which of the following options is a type of insurance fraud scheme in which an agent changes the beneficiary on record for an insured's policy to a made-up person and then absconds with the proceeds after authorizing a distribution of funds?

  • A. Fictitious death scheme
  • B. False information scheme
  • C. Fictitious payee scheme
  • D. False heir scheme
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #2

Which of the following is TRUE regarding ghost employee schemes?

  • A. The ghost employee must be someone who has never worked for the victim company.
  • B. The ghost employee must be a fictitious person.
  • C. The ghost employee must be classified as an exempt employee.
  • D. The ghost employee must be added to the payroll.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #3

Asset misappropriation schemes were the "middle children" of the study; they were more common than fraudulent statements and more costly than corruption.

  • A. False
  • B. True
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #4

Which of the following elements must be TRUE for a ghost employee scheme to be successful?

  • A. Payment must be delivered to someone who is unconnected to the victim company.
  • B. Payment must be made via direct deposit.
  • C. The ghost employee must be a real person.
  • D. Wage rate information must be collected for the ghost employee.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #5

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 purchasing and receiving scheme
  • B. A register disbursement scheme
  • C. A skimming scheme
  • D. A false sale scheme
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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

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