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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Asset Misappropriation – Non-Cash Assets | 5–10% | - Inventory and equipment theft - Misuse of assets - Concealment techniques |
| Topic 2: Industry-Specific Financial Crimes | 15–25% | - Real estate and securities fraud - Healthcare fraud - Cyber-enabled and cryptocurrency fraud - Financial institution fraud - Insurance fraud |
| Topic 3: Accounting Concepts | 5–10% | - Recording and summarizing transactions - Basic accounting principles - Internal control fundamentals - Financial statements structure |
| Topic 4: Corruption Schemes | 5–10% | - Conflicts of interest - Bribery and kickbacks - Illegal gratuities and extortion |
| Topic 5: Financial Statement Fraud | 10–15% | - Revenue and asset overstatements - Detection and red flags - Timing and disclosure manipulations - Expense and liability understatements |
| Topic 6: Asset Misappropriation – Cash Receipts | 5–10% | - Cash larceny schemes - Cash skimming schemes - Prevention and detection methods |
| Topic 7: Asset Misappropriation – Cash Disbursements | 10–15% | - Expense reimbursement schemes - Payroll schemes - Billing schemes - Check and payment tampering |
| Topic 8: Theft of Data and Intellectual Property | 5–10% | - Data and IP theft methods - Safeguarding proprietary information - Corporate espionage |
| Topic 9: Identity Theft | 1–5% | - Types and techniques - Prevention and detection |
ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:
1. When a victim company purchases unnecessary goods or services from a supplier at the direction of the corrupt employee, this results in:
A) Submission scheme
B) Presolicitation scheme
C) Need recognition scheme
D) False sole-source scheme
2. Employees with the authority to grant discounts in order to skim revenues may use which authority?
A) False discounts
B) Recording a discount on sale procedure
C) Internal discount sales audits
D) None of the above
3. Which of the following statements about self-regulatory organizations (SROs) in the securities industry is MOST ACCURATE?
A) SROs are prohibited from participating in the resolution of disputes related to securities transactions in all jurisdictions.
B) SROs monitor compliance with industry rules by examining member firms' trading operations in some jurisdictions.
C) SROs are governmental entities that exercise regulatory authority over the securities industry in their jurisdictions.
D) SROs conduct investigations into securities-related fraud allegations within private companies in most jurisdictions.
4. Entering a sales total lower than the amount actually paid by the customer is called:
A) All of the above
B) Recording a sale procedure
C) Internal sales audits
D) Underrings a sale
5. In which of the following process, all bidders are legally supposed to be placed on the same plane of equality, bidding on the same terms and conditions?
A) Kickbacks
B) Competitive bidding
C) Bid solicitation
D) Bid-rigging
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: A | Question # 3 Answer: B | Question # 4 Answer: D | Question # 5 Answer: B |
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