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

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

1. Which of the following is NOT a distinguishing characteristic of a Ponzi scheme?

A) Participants believe that they are making a legitimate investment.
B) Participants are paid based on the number of new investors that they recruit.
C) Promoters of Ponzi schemes promise investors uncommonly high returns.
D) Promoters of Ponzi schemes engage in minimal amounts of valid commerce or investments.


2. Which of the following scenarios is an example of a cash larceny scheme?

A) Julia obtains the access code for Kathy's cash register. While Kathy is on vacation, Julia logs in using Kathy's access code and processes transactions as usual. At the end of the day, she removes $100 from the register.
B) Helena sells a life insurance policy to Kevin. Instead of reporting the sale of the policy to the insurance company, she steals Kevin's payment.
C) Petra collects $300 from Daniel for the purchase of a lamp. Petra records a $200 sale on her cash register and puts the extra $100 in her pocket.
D) Omar opens the store where he works early and makes several sales before any other workers arrive. He then deletes the register log and removes the cash from those transactions from his register.


3. The price of an asset on which the asset is selling at on the open market in a transaction between a willing buyer and a willing seller is called:

A) Fair value
B) Absolute value
C) Material value
D) Cost value


4. Which of the following measures would be MOST EFFECTIVE in helping an individual detect whether they have become a victim of identity theft?

A) Monitor their credit score for a large increase or improvement.
B) Call international banks to determine if a new account has been opened in their name.
C) Conduct a regular internet search for their phone number.
D) Request a copy of their credit report on a regular basis and review it for suspicious activity.


5. Which of the following items do NOT appear on the balance sheet?

A) Expenses
B) Owners' equity
C) Liabilities
D) Assets


Solutions:

Question # 1
Answer: B
Question # 2
Answer: A
Question # 3
Answer: A
Question # 4
Answer: D
Question # 5
Answer: A

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