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ACFE CFE-Fraud-Prevention Exam Overview:
| Certification Vendor: | ACFE |
| Exam Name: | Fraud Prevention and Deterrence Exam (CFE Exam Section) |
| Exam Number: | CFE-Fraud-Prevention |
| Passing Score: | 75% |
| Certificate Validity Period: | No fixed expiration; certification must be maintained through ongoing CPE requirements |
| Real Exam Qty: | 100 |
| Related Certifications: | Certified Fraud Examiner (CFE) |
| Exam Format: | Multiple Choice |
| Exam Duration: | 120 minutes |
| Available Languages: | English |
| Recommended Training: | ACFE Training and Education Resources |
| Exam Registration: | ACFE Certified Fraud Examiner Certification Overview |
| Sample Questions: | ACFE CFE-Fraud-Prevention Sample Questions |
| Exam Way: | Computer-based exam (proctored online or at authorized testing centers) |
| Pre Condition: | Eligibility requirements for the CFE credential apply (education and/or work experience as defined by ACFE), but no prerequisite exam is required for this section. |
| Official Syllabus URL: | https://www.acfe.com/ |
ACFE CFE-Fraud-Prevention Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Fraud Prevention and Deterrence | 25% | - Fraud prevention programs and frameworks - Internal control systems and evaluation - Ethics and corporate governance - Anti-fraud policies and procedures - Monitoring, auditing, and continuous improvement - Whistleblowing and reporting mechanisms - Fraud risk governance and organizational culture - Fraud risk assessment - Fraud deterrence strategies and controls |
ACFE Certified Fraud Examiner - Fraud Prevention and Deterrence Sample Questions:
1. Which of the following controls would MOST effectively reduce the risk of fictitious vendors being added to the accounting system?
A) Encrypting vendor payment files
B) Annual inventory counts
C) Increasing employee bonuses
D) Independent review of vendor setup requests with supporting documentation
2. According to ACFE research, which of the following is TRUE?
A) Men commit significantly more frauds than women do.
B) Most fraudsters have previous criminal convictions for fraud-related offenses.
C) An unwillingness to share duties is the most reported red flag displayed by fraud perpetrators prior to the detection of their crime.
D) Frauds committed by staff-level employees cause higher median losses than those committed by owners and executives.
3. Maria conducted a fraud examination that led to a valid confession of guilt from Rita. In Maria's verbal report to her superiors, she stated that, in her opinion. "Rita is guilty of embezzlement." Maria has just violated the ACFE Code of Professional Ethics.
A) False
B) True
4. Beezie, a Certified Fraud Examiner (CFE), took an introductory class in computer forensics.
When a client thought there might be evidence of a crime on their computer, Beezie decided to conduct a forensic examination of the computer even though she had no experience or advanced training in this area. Which of the following is TRUE regarding Beezie's conduct?
A) Beezie's conduct would be a violation of the ACFE Code of Professional Ethics only if she did not find the fraudster.
B) Beezie's conduct would be a violation of the ACFE Code of Professional Ethics.
C) Beezie's conduct would not be a violation of the ACFE Code of Professional Ethics.
D) Beezie's conduct would be a violation of the ACFE Code of Professional Ethics only if she also violated the law.
5. During an external audit, the audit team identifies evidence that management has intentionally omitted some expenses from the company's financial statements in order to conceal an asset misappropriation scheme. However, the amount of the resulting misstatement does not meet the quantitative materiality threshold for the audit. Which of the following is TRUE regarding this situation?
A) The auditors should assess the need to adjust the nature, timing, and extent of remaining audit procedures based on this evidence.
B) The auditors can ignore the misstatement because the omitted amount is less than the quantitative materiality threshold and therefore immaterial to the audit.
C) The auditors should assume that all audit evidence collected previously is unreliable and withdraw from the audit engagement
D) The auditors do not need to be concerned with this evidence, as asset misappropriation schemes are not considered relevant or material for external audit purposes.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: C | Question # 5 Answer: A |
By Iris
