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

SectionWeightObjectives
Topic 1: Asset Misappropriation – Non-Cash Assets5–10%- Inventory and equipment theft
- Misuse of assets
- Concealment techniques
Topic 2: Industry-Specific Financial Crimes15–25%- Real estate and securities fraud
- Healthcare fraud
- Cyber-enabled and cryptocurrency fraud
- Financial institution fraud
- Insurance fraud
Topic 3: Accounting Concepts5–10%- Recording and summarizing transactions
- Basic accounting principles
- Internal control fundamentals
- Financial statements structure
Topic 4: Corruption Schemes5–10%- Conflicts of interest
- Bribery and kickbacks
- Illegal gratuities and extortion
Topic 5: Financial Statement Fraud10–15%- Revenue and asset overstatements
- Detection and red flags
- Timing and disclosure manipulations
- Expense and liability understatements
Topic 6: Asset Misappropriation – Cash Receipts5–10%- Cash larceny schemes
- Cash skimming schemes
- Prevention and detection methods
Topic 7: Asset Misappropriation – Cash Disbursements10–15%- Expense reimbursement schemes
- Payroll schemes
- Billing schemes
- Check and payment tampering
Topic 8: Theft of Data and Intellectual Property5–10%- Data and IP theft methods
- Safeguarding proprietary information
- Corporate espionage
Topic 9: Identity Theft1–5%- 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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