If you're looking to become a Certified Fraud Examiner - Financial Transactions and Fraud Schemes, congratulations on taking the first step! The Certified Fraud Examiner (CFE) credential is recognized globally as the standard for fraud prevention and detection. The certification will enhance your knowledge and skills in the area of fraud examination, which will help you investigate and prevent financial fraud. In this article, we'll provide you with an overview of the exam, including the exam objectives, prerequisites, qualifications, related books, and exam details.
Exam Objectives:
The CFE - Financial Transactions and Fraud Schemes exam aims to test your knowledge and understanding of fraud schemes and the methods used to detect and prevent them. The exam is divided into four sections:
- Financial Transactions and Fraud Schemes
- Fraud Prevention and Deterrence
- Investigation
- Legal Elements of Fraud
The exam objectives are:
- Understanding the nature of fraud and its impact on society
- Recognizing and identifying fraudulent schemes
- Conducting investigations and collecting evidence
- Understanding the legal aspects of fraud
- Developing and implementing fraud prevention programs and controls
- Understanding the principles of corporate governance and ethics
Exam Details:
The exam is computer-based and consists of 125 multiple-choice questions. You'll have 2.5 hours to complete the exam. The exam fee is $400 for ACFE members and $500 for non-members. The passing score for the exam is 75%, and you'll receive your results immediately after the exam. The exam is available in multiple languages and can be taken at Prometric test centers worldwide.
Who Should Take the Exam?
The CFE - Financial Transactions and Fraud Schemes exam is suitable for professionals in the field of accounting, auditing, and finance, as well as law enforcement, criminology, and other related fields. The exam is designed for individuals who want to enhance their knowledge and skills in the area of fraud examination and prevention.
Prerequisites and Qualifications:
To be eligible to take the CFE - Financial Transactions and Fraud Schemes exam, you must meet the following requirements:
- You must have a bachelor's degree or equivalent from an accredited institution
- You must have two years of professional experience in a field related to fraud prevention or detection
- You must be of high moral character and agree to abide by the ACFE Code of Professional Ethics
Related Books:
The following books can help you prepare for the CFE - Financial Transactions and Fraud Schemes exam:
- Fraud Examination by W. Steve Albrecht, Chad O. Albrecht, and Conan C. Albrecht
- Financial Statement Fraud: Prevention and Detection by Zabihollah Rezaee
- Corporate Fraud Handbook: Prevention and Detection by Joseph T. Wells
- The Art of Investigative Interviewing by Charles L. Yeschke
- Fraud Auditing and Forensic Accounting by Tommie W. Singleton and Aaron J. Singleton
These books cover various topics related to fraud examination, including financial statement
analysis, interview techniques, and fraud auditing. They are all highly recommended for anyone preparing for the CFE - Financial Transactions and Fraud Schemes exam.
In conclusion, passing the CFE - Financial Transactions and Fraud Schemes exam requires preparation, dedication, and a thorough understanding of the exam objectives. By studying the related books, understanding the exam objectives, and meeting the prerequisites, you can increase your chances of passing the exam and becoming a Certified Fraud Examiner. Good luck!