Certified Fraud Examiner Exam Prep Test
A Certified Fraud Examiner (CFE) is a professional certification available to fraud examiners. CFEs are subject to periodic continuing professional education requirements (CPE) in the same manner as CPAs. The CFE designation is issued by the Association of Certified Fraud Examiners (ACFE), the world’s largest anti-fraud organization, based in Austin, Texas.
The Certified Fraud Examiner (CFE) is a credential awarded by the Association of Certified Fraud Examiners (ACFE). The ACFE association is a provider of anti-fraud training and education. Together with more than 80,000 members, the ACFE seeks to reduce business fraud world-wide and to inspire public confidence in the integrity and objectivity within the profession. CFE training involves imparting knowledge of complex financial transactions and understanding of forensic methods, law, and of how to resolve allegations of fraud. Fraud examiners are trained to understand how and why fraud occurs.
FREE Practice Exam Question and Answers
Importance of ACFE Certification
ACFE provides the candidate with the following –
- Firstly, it sharpens the candidate’s skills and supports the candidate to stay competing with world-class training program possibilities, such as seminars, local chapters, and conferences, etc.
- Secondly, assisting the candidate to become a portion of the world’s largest group of anti-fraud specialists and connect via online exhibitions and communities.
- Also, gaining professional reliability and visibility.
- And, enhancing marketability and job security.
However, created with the full anti-fraud professional in spirit, the Certified Fraud Examiners (CFE) Exam Prep Course by ACFE software grants candidates the elasticity that they need to prepare for the CFE Exam on the schedule.
Also, it includes study questions and practise tests that affect the original CFE Exam experience, the CFE Exam Prep Course will help the candidate to prepare to pass the precise CFE Exam.
Prepare for the Exam
The CFE Exam will test your knowledge of the four major areas that comprise the fraud examination body of knowledge. Choose one of the following methods to prepare for the CFE Exam.
Exam Format
- The exam can be easily taken online.
- And, the exam contains four sections.
- Also, the CFE Exam is a closed-book and closed-notes exam.
- Further, the candidate can take the CFE Exam at any time convenient to them.
- Moreover, the exam has a number of controls to guarantee honesty. This implies that, no two exams are precisely the same.
- To pass, the candidate must score 75% marks.
Prerequisites
Let’s take a look at requirements for the CFE exam.
Academic Requirements: Usually, applicants for CFE certification have at least a Bachelor’s degree from an establishment of higher learning.
Also, No particular field of study is needed. If the candidate does not have a Bachelor’s degree, then they may replace two years of fraud-related professional expertise for each year of scholarly study.
And, for example, if the candidate successfully accompanied college full-time for particularly two years, then they would need a supplementary four years of professional experience to pass for the education requirements.
Professional Requirements: At the time the candidate is certified, then they must have a minimum of two years of expert experience in an area either indirectly or directly related to the detection or deterrence of fraud.
FAQ’s.
What is a Certified Fraud Examiner (CFE)?
A Certified Fraud Examiner (CFE) is a leader in the anti-fraud community, noted as a specialist in the prevention, detection and deterrence of fraud. CFEs represent the highest standards held by the ACFE.
How do I maintain my CFE credential?
CFEs must earn at least 20 hours of Continuing Professional Education (CPE) every 12-month period, pay annual membership dues and follow the ACFE Code of Professional Ethics and the ACFE Code of Professional Standards.
How do I know if I am eligible to become a CFE?
Qualifications for becoming a CFE include having high moral character and meeting minimum professional and academic requirements. Your eligibility for certification is based on a point system which awards credit for education, professional credentials and fraud-related experience.
I already hold other certifications. Does this qualify me as a CFE as well?
No. The CFE credential is a unique designation with its own requirements and standards. Your other certifications may be counted as part of the qualifying points system, but they will not automatically make you a CFE.
I have been in the anti-fraud industry for many years; can I receive a waiver of the CFE Exam?
No, all applicants are required to take the CFE Exam. Previous experience or previous certifications will not exempt you from taking any part of the exam.
Who sets the standards for CFE certification?
The standards are set by the ACFE’s Board of Regents , who are elected by CFEs and drawn from our most experienced members.
Is the CFE credential acknowledged globally?
Yes, the CFE credential is recognized and accepted worldwide as the standard of professional excellence.
Do other entities offer the CFE certification?
No. The CFE certification is a unique aspect of the ACFE.
Which seminars or video courses should I take in order to prepare for the CFE Exam?
If you are pursuing the CFE credential, the will help you master the concepts tested on the CFE Exam: Financial Transactions and Fraud Schemes, Law, Investigation and Fraud Prevention and Deterrence,. This 4-day, instructor-led course provides the essentials needed to pass the CFE Exam and become a CFE. This course, in combination with the CFE Exam Prep Course®, will provide you with an unbeatable combination for passing the exam.
What are our Practice Exams?
- Practice exams have been designed by professionals and domain experts that simulate real time exam scenario.
- Practice exam questions have been created on the basis of content outlined in the official documentation.
- Each set in the practice exam contains unique questions built with the intent to provide real-time experience to the candidates as well as gain more confidence during exam preparation.
- Practice exams help to self-evaluate against the exam content and work towards building strength to clear the exam.
- You can also create your own practice exam based on your choice and preference
Final words
The ACFE credentials are acknowledged and recognized worldwide as the acceptance of professional expertise in the anti-fraud profession. Also, CFEs all over the world benefit to protect the global economy by finding fraud and affirming processes to avoid fraud. The ACFE credentials are progressively being maintained as preferred credentials in the hiring methods of businesses, law enforcement agencies, and government entities, etc. As you heard, Practise makes a man perfect, So start practicing and excel in the CFA certification
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