ACFE CFE-Fraud-Schemes-and-Financial-Crimes : Certified Fraud Examiner -Fraud Schemes and Financial Crimes

CFE-Fraud-Schemes-and-Financial-Crimes real exams

Exam Code: CFE-Fraud-Schemes-and-Financial-Crimes

Exam Name: Certified Fraud Examiner -Fraud Schemes and Financial Crimes

Updated: Sep 28, 2026

Q & A: 355 Questions and Answers

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

SectionObjectives
Topic 1: Financial Crimes- Money Laundering
  • 1. Integration stage
    • 2. Layering stage
      • 3. Placement stage
        - Financial Statement Fraud
        • 1. Asset overstatement
          • 2. Revenue manipulation
            • 3. Expense understatement
              - Corruption Schemes
              • 1. Bribery
                • 2. Kickbacks
                  • 3. Conflicts of interest
                    Topic 2: Fraud Schemes- Asset Misappropriation Schemes
                    • 1. Payroll fraud
                      • 2. Cash theft and skimming
                        • 3. Expense reimbursement fraud
                          • 4. Inventory and asset theft
                            - Fraudulent Disbursements
                            • 1. Billing schemes
                              • 2. Billing shell companies
                                • 3. Check tampering

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

                                  Question #1

                                  Which of the following is a method that might be used to fraudulently overstate the inventory balance?

                                  • A. Recording an allowance for sales returns
                                  • B. Failing to write off obsolete inventory
                                  • C. Applying the lower of cost or net realizable value
                                  • D. Failing to record bad debt expense
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B  🗳️

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                                  Question #2

                                  Joe's automobile insurance policy expired in June. In August, Joe was involved in an automobile accident, and his vehicle was severely damaged. After the accident, Joe contacted his insurance company and reinstated the policy. In September, Joe then submitted a claim with a September accident date for the damages that occurred to his vehicle in August. Joe has engaged in which of the following insurance schemes?

                                  • A. Past posting
                                  • B. Staged accident
                                  • C. Inflated damages
                                  • D. Vehicle repair
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

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                                  Question #3

                                  Which of the following statements about self-regulatory organizations (SROs) in the securities industry is MOST ACCURATE?

                                  • A. SROs are governmental entities that exercise regulatory authority over the securities industry in their jurisdictions.
                                  • B. SROs are prohibited from participating in the resolution of disputes related to securities transactions in all jurisdictions.
                                  • C. SROs monitor compliance with industry rules by examining member firms' trading operations in some jurisdictions.
                                  • D. SROs conduct investigations into securities-related fraud allegations within private companies in most jurisdictions.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  🗳️

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

                                  Question #4

                                  Which of the following is NOT a standard of generally accepted accounting principles (GAAP)?

                                  • A. Cost
                                  • B. Quality control
                                  • C. Conservatism
                                  • D. Full disclosure
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B  🗳️

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

                                  Question #5

                                  Antonia, a Certified Fraud Examiner (CFE), discovers that a loan applicant misrepresented their creditworthiness and income to qualify for a mortgage on a new house. Which type of loan fraud BEST describes the scheme that Antonia uncovered?

                                  • A. Credit data blocking
                                  • B. Residential loan fraud
                                  • C. Linked financing
                                  • D. Double-pledging collateral
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B  🗳️

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

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