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ACFE CFE

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ACFE CFE Exam Questions

Exam number/code: CFE

Release/Update Date: 30 Mar, 2025

Number of Questions: Maximum of 186 Questions

Exam Name: Certified Fraud examiner

Exam Duration: 90 Minutes

Related Certification(s): ACFE CFE Certification

ACFE CFE Exam Topics - You’ll Be Tested On

The Association of Certified Fraud Examiners (ACFE) Certified Fraud Examiner (CFE) exam is a rigorous assessment that evaluates an individual's knowledge and skills in the field of fraud examination and anti-fraud measures. It covers a wide range of topics, including fraud examination procedures, legal elements and investigation, financial transactions and fraud schemes, criminology and ethical behavior, and fraud prevention and detection. The exam aims to ensure that professionals possess the necessary expertise to combat fraud effectively. Fraud examination procedures involve understanding the steps and techniques used to investigate and uncover fraudulent activities. This includes planning and scoping investigations, collecting and analyzing evidence, interviewing techniques, and preparing reports. The legal elements and investigation topic covers the legal aspects of fraud, such as understanding the elements of fraud, civil and criminal litigation processes, and the role of the CFE in legal proceedings. Financial transactions and fraud schemes delve into recognizing and analyzing financial statements, identifying red flags, and understanding various fraud schemes like asset misappropriation, corruption, and financial statement fraud. Criminology and ethical behavior explore the psychological and behavioral aspects of fraud, including fraudster profiles, motivation, and the impact of ethics and integrity in fraud prevention. Lastly, fraud prevention and detection strategies focus on implementing controls, monitoring systems, and developing fraud risk management plans to minimize the occurrence of fraud and detect it early on.

Real ACFE CFE Exam Insights, from Actual Candidates

One of the most challenging aspects of my exam preparation was overcoming my fear of public speaking. As a future fraud examiner, I knew that effective communication and presentation skills were essential. I sought guidance from a mentor who helped me develop strategies to overcome my nerves and deliver confident presentations. Through practice and feedback, I gradually built my confidence and learned to engage my audience effectively. On the day of the exam, I felt well-prepared and ready to showcase my knowledge and skills. As I entered the exam room, I took a few deep breaths to calm my nerves. I reminded myself of the extensive preparation I had undergone and visualized myself confidently answering each question. The exam began with a comprehensive review of my understanding of fraud examination techniques. I was asked to identify various types of fraud, explain the red flags associated with each, and propose effective strategies for prevention. My knowledge of fraud schemes and scams, gained through extensive study, proved invaluable as I provided detailed responses. As the exam progressed, I encountered questions on financial statement analysis. I was required to analyze complex financial data, identify discrepancies, and propose recommendations for further investigation. My proficiency in forensic accounting, honed through practice, allowed me to approach these questions with confidence and accuracy. The exam also tested my understanding of the legal elements of fraud. I was asked to explain the legal implications of different types of fraud and discuss the role of law enforcement in fraud investigations. My study of case studies and real-life examples enabled me to provide well-informed responses, demonstrating my grasp of the legal aspects of fraud examination.
As the exam date approached, I experienced a mix of excitement and nervousness. I had invested a significant amount of time and effort into my preparation, and I was determined to put my best foot forward. One of the strategies that helped me stay focused and motivated was connecting with other candidates through online forums and study groups. Sharing experiences, discussing challenging topics, and offering mutual support created a sense of community and reduced the feeling of isolation. On the day of the exam, I arrived early and took a few moments to center myself. I reminded myself of the extensive preparation I had undergone and visualized myself successfully navigating each section. As I began the exam, I approached each question with a calm and confident mindset, drawing upon the knowledge and skills I had acquired during my studies. The exam itself was a comprehensive assessment, covering a wide range of topics. I encountered questions on fraud examination techniques, financial statement analysis, and occupational fraud, among others. While some questions required a deep understanding of complex concepts, others tested my ability to apply practical skills. I remained focused and methodical, carefully reading each question and considering all available options before selecting my answer. As I progressed through the exam, I felt a sense of satisfaction and accomplishment. The months of dedicated study and practice were paying off, and I knew that I was well-prepared to tackle any challenge that came my way. With each passing question, I gained confidence, knowing that my hard work and dedication were about to be rewarded.
One of the most challenging aspects of my exam preparation journey was mastering the art of interview and interrogation techniques. As a novice, I found it intimidating to navigate the delicate balance between gathering information and maintaining professionalism. However, with practice and guidance from experienced mentors, I gained confidence in my ability to conduct effective interviews. I learned the importance of active listening, building rapport, and asking the right questions to elicit valuable insights. Additionally, understanding the legal elements of fraud was crucial. I immersed myself in case studies and real-life examples, studying the intricacies of fraud laws and their applications. This knowledge not only helped me prepare for the exam but also equipped me with the skills to navigate complex fraud investigations in the real world.
I remember feeling overwhelmed when I first started studying for the ACFE CFE exam. The sheer volume of topics and the depth of knowledge required seemed daunting. However, I soon discovered that breaking down the curriculum into manageable chunks made it more approachable. I created a study plan, allocating dedicated time each day to focus on specific subjects. This structured approach helped me stay motivated and made the learning process more enjoyable. As I progressed, I encountered challenging topics like financial statement analysis and forensic accounting. These areas required a deep understanding of complex concepts, but with perseverance and a willingness to seek additional resources, I was able to grasp the material. The exam preparation materials provided by ACFE were invaluable, offering comprehensive guides and practice questions that helped me reinforce my knowledge.
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