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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:
| Section | Objectives |
| Topic 1: Fraud Schemes | - Financial Statement Fraud
- 1. Asset overstatement and liability concealment
- 2. Revenue recognition manipulation
- Asset Misappropriation Schemes
- 1. Skimming and cash larceny
- 2. Billing and expense reimbursement fraud
|
| Topic 2: Fraud Investigation and Analysis | - Data analysis in fraud detection
- 1. Trend and anomaly identification
- Evidence collection and documentation
- 1. Chain of custody principles
|
| Topic 3: Financial Crimes | - Banking and Payment Fraud
- 1. Check and credit card fraud
- 2. Wire fraud and electronic transfers
- Money Laundering
- 1. Placement, layering, integration stages
|
ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:
1. Which of the following is not a skimming scheme?
A) Theft of checks through the mail
B) Understated sales and receivables
C) Unrecorded sales
D) Fraud & Cost
2. Carl, an information technology (IT) employee at ABC Company, steals an accounting employee's login credentials for the company's online banking portal. Carl then sets up a recurring payment to a bank account that he owns under a different name. Carl has MOST LIKELY committed a(n):
A) Ghost payee scheme
B) Diverted revenue scheme
C) Fraudulent billing scheme
D) Electronic payment tampering scheme
3. Which of the following statements about change order abuse is MOST ACCURATE?
A) Change order abuse generally results in procuring entities paying the winning contractor less than the amount of the accepted bid.
B) Change order abuse is a scheme typically committed by sole-source vendors.
C) Change order abuse often causes the procuring entity to lose the advantages offered by the competitive bidding process.
D) Change order abuse usually involves collusion among several contractors.
4. Perceived certainty of detection is directly related to employee theft for respondents in all industry sectors, that is, the stronger the perception that theft would be detected, the more the likelihood that the employee would engage in deviant behavior.
A) True
B) False
5. Brad owns a failing business that sells various types of raw stone for homes. Brad decides to file for bankruptcy on behalf of the company, but one month before doing so, he transfers several expensive slabs of marble to his son's construction business at no charge. Which type of fraud scheme has Brad MOST LIKELY committed?
A) A fraudulent bankruptcy
B) A concealed transfer
C) A fraudulent conveyance
D) A planned bustout
Solutions:
Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: C | Question # 4 Answer: B | Question # 5 Answer: C |