The Certified Fraud Examiner (CFE) credential is a globally recognized certification awarded by the Association of Certified Fraud Examiners (ACFE) to professionals who specialize in preventing, detecting, and investigating fraud. The CFE - Fraud Prevention exam is designed to test an individual's knowledge and expertise in the field of fraud prevention. In this article, we will discuss how to pass the CFE - Fraud Prevention exam, the exam objectives, exam details, prerequisites, and related books that can help candidates prepare for the exam.
Exam Objectives:
The CFE - Fraud Prevention exam is designed to test an individual's knowledge and expertise in the following areas:
- Fraud prevention and deterrence
- Internal controls to mitigate fraud risks
- Compliance and ethics program
- Legal elements of fraud
- Fraud risk assessment
- Fraud investigation processes
- Financial transactions and fraud schemes
The CFE - Fraud Prevention exam is suitable for professionals who are involved in fraud prevention, compliance, auditing, risk management, and investigations. This exam is an essential certification for professionals who want to advance their career in the field of fraud prevention.
Exam Details:
The CFE - Fraud Prevention exam is a computer-based test that is administered by the ACFE. The exam consists of 125 multiple-choice questions, and candidates have 2.5 hours to complete the exam. The passing score for the exam is 75% or higher. The exam is delivered in English, and candidates can take the exam at Pearson VUE test centers located around the world.
The cost to take the exam varies depending on the candidate's location and ACFE membership status. The exam fee for ACFE members is $450, while the fee for non-members is $600. Candidates can apply for the exam through the ACFE website.
To be eligible to take the CFE - Fraud Prevention exam, candidates must meet the following prerequisites:
- Be an ACFE member in good standing
- Have a bachelor's degree or equivalent from an accredited college or university
- Have two years of professional experience related to fraud prevention, detection, or investigation
- Agree to abide by the ACFE Code of Professional Ethics and other policies
Related Books:
Here are some recommended books that can help candidates prepare for the CFE - Fraud Prevention exam:
- Fraud Examination: International Edition by W. Steve Albrecht, Conan C. Albrecht, Chad O. Albrecht, and Mark F. Zimbelman
- Fraud Prevention and Detection: Warning Signs and the Red Flag System by James A. Ratley and Andi McNeal
- Corporate Fraud Handbook: Prevention and Detection by Joseph T. Wells
- Principles of Fraud Examination by Joseph T. Wells
- Fraud 101: Techniques and Strategies for Understanding Fraud by Stephen Pedneault
In conclusion, passing the CFE - Fraud Prevention exam requires a thorough understanding of fraud prevention, detection, and investigation. By studying the exam objectives, following the exam details, meeting the prerequisites, and using the recommended books, candidates can increase their chances of passing the exam and obtaining the CFE credential.