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

SectionObjectives
Topic 1: Fraud Schemes- Asset Misappropriation Schemes
  • 1. Billing and expense reimbursement fraud
    • 2. Skimming and cash larceny
      - Financial Statement Fraud
      • 1. Revenue recognition manipulation
        • 2. Asset overstatement and liability concealment
          Topic 2: 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
                Topic 3: Fraud Investigation and Analysis- Data analysis in fraud detection
                • 1. Trend and anomaly identification
                  - Evidence collection and documentation
                  • 1. Chain of custody principles

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

                    Question 1

                    Kara owns a business selling rare goods. Some of the goods Kara sells are of high value, but she reports significantly lower values to the taxing authority for those transactions. Which of the following options BEST describes Kara's scheme?

                    A. Tax credit scheme
                    B. Consumption tax scheme
                    C. Falsified tax deduction scheme
                    D. Wealth tax evasion scheme


                    Question 2

                    A ___________ occurs when an employee, manager, or executive has an undisclosed economic or personal interest in a transaction that adversely affects the organization.

                    A. Financial disclosure
                    B. Unauthorized purchase
                    C. Illegal sale
                    D. Conflict of interest


                    Question 3

                    Horizontal analysis can BEST be described as:

                    A. A technique for analyzing the relationships among items on the financial statement where components are expressed as percentages of a specified base value.
                    B. A technique for comparing the performance of different companies in the same industry for an extended period.
                    C. A technique for analyzing the percentage change in individual line items on a financial statement from one accounting period to the next accounting period.
                    D. A technique for measuring the relationship between any two different financial statement amounts.


                    Question 4

                    The person or persons who have access to __________ are often the targets of unethical vendors seeking an advantage in the process.

                    A. Bid-splitting
                    B. General purchasing
                    C. Sealed bids
                    D. Tailor specifications


                    Question 5

                    ________, one of the synonyms for fraud, implies deceiving so thoroughly as to obscure the truth.

                    A. Mislead
                    B. Beguile
                    C. Delude
                    D. Deceive


                    Solutions:

                    Question 1
                    Answer: B
                    Question 2
                    Answer: D
                    Question 3
                    Answer: C
                    Question 4
                    Answer: C
                    Question 5
                    Answer: C

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