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ACFE CFE-Fraud-Prevention Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Fraud Prevention Framework25%- Fraud risk assessment processes
- Fraud risk governance and oversight
Topic 2: Internal Controls and Fraud Prevention25%- Fraud detection and prevention controls
- Internal control design and effectiveness
Topic 3: Fraud Risk Management and Deterrence25%- Fraud prevention strategies and programs
- Monitoring and continuous improvement
Topic 4: Corporate Governance and Ethics25%- Code of conduct and compliance programs
- Ethical culture and tone at the top

ACFE Certified Fraud Examiner - Fraud Prevention and Deterrence Sample Questions:

Question 1

Which of the following is TRUE regarding government auditors' responsibilities to report evidence of potential fraud uncovered during an audit of a public-sector organization's financial statements?

A. The requirements for government auditors to report evidence of potential fraud depend on the jurisdiction and the specific audit mandate.
B. Government auditors' reporting requirements pertaining to fraud are substantially the same as those for external auditors in the private sector.
C. All government auditors maintain the same requirements for reporting evidence of potential fraud uncovered during a public-sector financial statement audit.
D. Government auditors are legally prohibited from reporting evidence of potential fraud to any parties outside the organization being audited.


Question 2

According to the authors of Crimes of the Middle Classes, all of the following factors have contributed to the rising problem of economic crime EXCEPT:

A. The economy's increased reliance on credit
B. The continued pressures of a culture that rewards affluence and success
C. The increased constraints of the regulatory environment for businesses
D. The increased opportunity for wrongdoing as a result of advancing information technologies


Question 3

According to modern criminological studies, which of the following is the determinant aspect of white-collar crime?

A. Criminal history
B. Social class
C. Organizational opportunity
D. Cultural ties


Question 4

Which of the following is NOT a purpose served by a professional organization's code of conduct?

A. It replaces the need for individuals to consult their own conscience.
B. It serves as a reference and benchmark for ethical guidance
C. It facilitates practical enforcement and profession-wide Internal discipline.
D. It provides more direct solutions to professional ethical dilemmas than might exist under general ethical principles


Question 5

A fraud risk assessment identifies a scheme that has a low likelihood of occurrence but would cause catastrophic financial and reputational damage. How should the organization treat this risk?

A. Evaluate both likelihood and impact when determining mitigation priorities
B. Focus only on frequent fraud risks
C. Ignore it because likelihood is low
D. Remove it from the assessment


Solutions:

Question 1
Answer: A
Question 2
Answer: C
Question 3
Answer: C
Question 4
Answer: A
Question 5
Answer: A

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