ACFE CFE-Fraud-Schemes-and-Financial-Crimes Q&A - in .pdf

  • Exam Code: CFE-Fraud-Schemes-and-Financial-Crimes
  • Exam Name: Certified Fraud Examiner -Fraud Schemes and Financial Crimes
  • Updated: Sep 27, 2026
  • Q & A: 355 Questions and Answers
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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Q&A - Testing Engine

  • Exam Code: CFE-Fraud-Schemes-and-Financial-Crimes
  • Exam Name: Certified Fraud Examiner -Fraud Schemes and Financial Crimes
  • Updated: Sep 27, 2026
  • Q & A: 355 Questions and Answers
  • Install on multiple computers for self-paced, at-your-convenience training.
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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:

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

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

                                  Question #1

                                  Which of the following elements must be TRUE for a ghost employee scheme to be successful?

                                  • A. Wage rate information must be collected for the ghost employee.
                                  • B. Payment must be made via direct deposit.
                                  • C. Payment must be delivered to someone who is unconnected to the victim company.
                                  • D. The ghost employee must be a real person.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

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

                                  Question #2

                                  Which of the following measures is recommended to help prevent payroll fraud?

                                  • A. Discourage employees from using direct deposit for payroll payments.
                                  • B. Assign payroll preparation and payroll bank account reconciliations to one employee.
                                  • C. Require supervisors to authorize all overtime and to verify the time worked by each of their employees.
                                  • D. Require employees to designate a coworker to collect paychecks on their behalf if they are absent during distribution.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  🗳️

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

                                  Question #3

                                  According to best practices regarding large cash transactions with customers as provided by the Financial Action Task Force (FATF) Recommendations, which of the following transactions would require a report to be filed with the appropriate designated government agency?

                                  • A. A cash payment for an international food purchase of a sum above the jurisdiction's designated threshold
                                  • B. An international cash purchase of casino credits for a sum below the jurisdiction's designated threshold
                                  • C. A cash payment to a domestic legal professional of a sum below the jurisdiction's designated threshold
                                  • D. A domestic cash purchase of gold jewelry for a sum above the jurisdiction's designated threshold
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

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

                                  Question #4

                                  Which of the following scenarios is an example of an economic extortion scheme?

                                  • A. A purchasing employee and vendor agree to bill the employee's company for services that the vendor did not provide.
                                  • B. A judge threatens to rule against a defendant during a judicial proceeding unless the defendant pays them money.
                                  • C. A contractor rewards a government employee with concert tickets after winning a contract with their agency.
                                  • D. A driver caught violating the speed limit offers a law enforcement officer payment to avoid receiving a speeding ticket.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B  🗳️

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

                                  Question #5

                                  Which of the following statements about competitive intelligence is CORRECT?

                                  • A. Competitive intelligence refers to government-sanctioned activities conducted to collect protected information from a foreign government.
                                  • B. Competitive intelligence and corporate espionage describe identical practices.
                                  • C. Competitive intelligence involves the use of illegal, covert means to acquire information for commercial purposes.
                                  • D. Competitive intelligence is considered a legitimate business function.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

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