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ACFE CFE-Fraud-Schemes-and-Financial-Crimes exam : Certified Fraud Examiner -Fraud Schemes and Financial Crimes

CFE-Fraud-Schemes-and-Financial-Crimes Exam Simulator
  • Exam Code: CFE-Fraud-Schemes-and-Financial-Crimes
  • Exam Name: Certified Fraud Examiner -Fraud Schemes and Financial Crimes
  • Updated: Oct 11, 2026
  • Q & A: 355 Questions and Answers
  • ACFE CFE-Fraud-Schemes-and-Financial-Crimes Q&A - in .pdf

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ACFE CFE-Fraud-Schemes-and-Financial-Crimes exam simulator

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ACFE CFE-Fraud-Schemes-and-Financial-Crimes Exam Syllabus Topics:

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

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

                                  Question #1

                                  Which of the following options BEST describes horizontal analysis?

                                  • A. A means of examining the relationship of items on a financial statement by expressing components as percentages of a specified base value
                                  • B. A means of measuring the relationship between two different financial statement amounts
                                  • C. A means of examining the percentage change in individual line items on a financial statement from one accounting period to the next
                                  • D. A means of measuring the performance of a parent company to one of its subsidiaries
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  🗳️

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

                                  Question #2

                                  Which of the following is NOT the reason why senior management will overstate business statements?

                                  • A. Show a pattern of growth to support sale of a business
                                  • B. Trigger performance-related compensation
                                  • C. Meet personal performance criteria
                                  • D. Comply with debt covenants
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

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

                                  Question #3

                                  Which of the following scenarios is an example of upcoding ?

                                  • A. Cindy receives payment in exchange for allowing an unnecessary surgical procedure to be completed on her that is then billed to her health care program
                                  • B. Dr. Loomis uses three procedure codes when submitting a claim for a surgery that she performed that is supposed to be billed using one procedure code
                                  • C. Landon inflates a medical bill that he wants to receive reimbursement for by misrepresenting the amount of the bill
                                  • D. Dr. Raul advises a patient with a small fracture in her leg to use crutches, but he submits the claim using a code to indicate that he placed a cast on the patient
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

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

                                  Question #4

                                  Which of the following is an example of a corruption scheme?

                                  • A. A vendor offers the use of a beach house to a government procurement agent for free after the agent awards a contract to the vendor.
                                  • B. A warehouse manager receives twenty laptops in a shipment but excludes five of the laptops from the records so that they can be sold to third parties.
                                  • C. A public company omits recurring costs from its financial statements to make the company appear more profitable than it is.
                                  • D. Two coworkers steal confidential information from their employer and use the stolen data to start a competing business.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A  🗳️

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                                  Question #5

                                  Bob, a purchasing agent for Gallenkamp, directed a portion of Gallenkamp's business to Oak Company. In exchange for receiving additional business, Oak Company's sales manager agreed to pay Bob a percentage of the extra profits. Which of the following BEST describes the type of corruption scheme in which Bob engaged?

                                  • A. Illegal gratuity scheme
                                  • B. Economic extortion scheme
                                  • C. Kickback scheme
                                  • D. Diversion scheme
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  🗳️

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

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