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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Theft of Data and Intellectual Property | 5–10% | - Corporate espionage - Data and IP theft methods - Safeguarding proprietary information |
| Topic 2: Asset Misappropriation – Cash Receipts | 5–10% | - Cash larceny schemes - Cash skimming schemes - Prevention and detection methods |
| Topic 3: Accounting Concepts | 5–10% | - Internal control fundamentals - Recording and summarizing transactions - Basic accounting principles - Financial statements structure |
| Topic 4: Industry-Specific Financial Crimes | 15–25% | - Cyber-enabled and cryptocurrency fraud - Healthcare fraud - Financial institution fraud - Real estate and securities fraud - Insurance fraud |
| Topic 5: Corruption Schemes | 5–10% | - Illegal gratuities and extortion - Conflicts of interest - Bribery and kickbacks |
| Topic 6: Identity Theft | 1–5% | - Types and techniques - Prevention and detection |
| Topic 7: Asset Misappropriation – Cash Disbursements | 10–15% | - Billing schemes - Expense reimbursement schemes - Check and payment tampering - Payroll schemes |
| Topic 8: Asset Misappropriation – Non-Cash Assets | 5–10% | - Inventory and equipment theft - Concealment techniques - Misuse of assets |
| Topic 9: Financial Statement Fraud | 10–15% | - Detection and red flags - Timing and disclosure manipulations - Revenue and asset overstatements - Expense and liability understatements |
ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions:
1. When an individual commits a forged filing scheme, they often perform which of the following actions?
A) Purchase a considerable amount of goods through credit.
B) Collude with inventory suppliers to create false invoices.
C) Obtain an insurance policy using illicit assets.
D) Use stolen identities to make a bankruptcy claim.
2. Carl, an information technology (IT) employee at ABC Company, steals an accounting employee's login credentials for the company's online banking portal. Carl then sets up a recurring payment to a bank account that he owns under a different name. Carl has MOST LIKELY committed a(n):
A) Fraudulent billing scheme
B) Electronic payment tampering scheme
C) Diverted revenue scheme
D) Ghost payee scheme
3. Which of the following scenarios BEST illustrates a misrepresentation health care fraud scheme?
A) Ada is still on her ex-husband's health insurance policy and uses it to submit a claim for her hip replacement surgery.
B) Gina submits a claim to her insurance company for a dermatological procedure that she canceled before her appointment.
C) Marco is a heavy smoker but indicates that he is a nonsmoker on his insurance application so that he will be eligible for full insurance coverage.
D) Xavier is reimbursed for knee surgery by a government health care program and then submits a claim for the procedure under his private insurance policy.
4. Which of the following ratios can be used to determine the efficiency with which a company uses its assets?
A) Asset turnover ratio
B) Debt-to-equity ratio
C) Quick ratio
D) Receivable turnover ratio
5. Which of the following is a common red flag of a bid tailoring scheme?
A) The procuring entity rebids contracts because fewer than the minimum number of bids are received.
B) The procuring entity's request for bid submissions provides clear bid submission information.
C) There are unusually narrow specifications for the type of goods being procured.
D) Numerous bidders respond to the procuring entity's bid requests.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: C |
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