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ACFE CFE-Investigation Exam Overview:
| Certification Vendor: | ACFE |
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| Exam Name: | Certified Fraud Examiner - Investigation (CFE Exam Part 3) |
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| Exam Number: | CFE-Investigation |
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| Exam Price: | USD $400-$600 (per exam part; full CFE exam bundle available) |
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| Related Certifications: | CFE (Certified Fraud Examiner) - Full Certification |
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| Passing Score: | 75% (scaled score) |
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| Certificate Validity Period: | No expiration; annual recertification required with CPE credits |
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| Exam Duration: | 120-150 |
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| Exam Format: | Multiple Choice |
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| Real Exam Qty: | 110-120 |
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| Available Languages: | English |
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| Sample Questions: | ACFE CFE-Investigation Sample Questions |
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| Exam Way: | Computer-based testing at Prometric centers; online proctored option available |
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| Pre Condition: | Must be an ACFE member; requires passing all four CFE exam parts within 3 years; 2 years of professional experience in fraud detection/prevention or related field required for full certification |
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| Official Syllabus URL: | https://www.acfe.com/certification/cfe-exam |
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Earning the CFE-Investigation Certification can be a valuable asset for professionals who are looking to advance their careers in the field of fraud investigation. Certified individuals are recognized for their expertise and commitment to ethical standards in the profession, and may have increased opportunities for career advancement, higher salaries, and greater credibility in the eyes of clients and employers.
ACFE Certified Fraud Examiner - Investigation Exam Sample Questions (Q154-Q159):
NEW QUESTION # 154
Which of the following is the MOST ACCURATE statement regarding the analysis phase in digital forensic investigations?
- A. During the analysis phase, it is best to use a combination of the various forensic tools that can assist h identifying, extracting, and collecting digital evidence
- B. When analyzing data for evidence, fraud examiners should look for exculpatory evidence but not exculpatory evidence
- C. The primary concern when analyzing digital evidence is to protect the collected information from seizure
- D. The analysis phase of digital forensic investigations should not commence unless it is verified that the suspect devices do not contain relevant data.
Answer: A
Explanation:
The digital forensics section of the Fraud Examiners Manual stresses:
* No single forensic tool can recover everything.
* Each has strengths and weaknesses.
* Therefore, it is best to use acombination of toolsduring analysis.
Additionally, the examiner must look forboth inculpatory and exculpatory evidence, while maintaining data integrity.
This aligns exactly with answerB.
NEW QUESTION # 155
Martin, a fraud examiner, is conducting an interview of Stephanie, a fraud suspect. Although Stephanie heard all of the questions during the introductory part of the interview, she began asking Martin to repeat almost every question when they became more focused If Stephanie is being deceptive, which of the choices below is MOST LIKELY the cause of Stephanie's behavior?
- A. Stephanie is testing Martin to determine whether he is able to ask consistent questions
- B. Stephanie is delaying the answer so that she has more time to think of what to say.
- C. Stephanie is having trouble recalling the events or details related to Martin's questions.
- D. Stephanie is trying to make sure she understands the question so that she will not make a misstatement.
Answer: B
Explanation:
Explanation with Extracts: In interviews, deceptive subjects often stall to gain time to construct plausible responses. TheCFE Prep - Investigationsnotes that deceptive interviewees may ask for questions to be repeated or otherwise delay in order to think of what to say.
NEW QUESTION # 156
Which of the following BEST describes the data analytics approach known as predictive analytics?
- A. The configuration of a business program to emulate and Integrate the actions of a human to execute certain business processes, thus increasing efficiency and automating repetitive manual tasks
- B. The use of historical data, along with analyses, statistics, and machine learning components, to build a mathematical model that captures important trends and creates a quantitative forecast
- C. The employment of computer systems to perform human-like tasks such as visual perception and decision-making
- D. The use of layered artificial neural networks to accommodate more data and more sophisticated algorithms to identify complex patterns
Answer: B
Explanation:
Explanation: TheFraud Examiners Manualnotes that predictive modeling and data analysis allow fraud examiners to detect fraud by usinghistorical data to forecast future trends and anomalies. This matches optionB.
NEW QUESTION # 157
Which of the following is FALSE regarding link analysis?
- A. Link analysis helps identify indirect relationships with several degrees of separation
- B. Link analysis is an effective tool for demonstrating complex networks
- C. Link analysis is a poor tool to use for investigating a money laundering scheme
- D. Link analysis can be used to map connections between entities that share an address
Answer: C
NEW QUESTION # 158
Jackson, a Certified Fraud Examiner (CFE). is analyzing Elm Company's accounts payable data to identify anomalies that might indicate fraud. Which of the following is the MOST EFFECTIVE data analysis function that Jackson could use to look for potential fraud in accounts payable?
- A. Summarize large invoices by amount and vendor
- B. All of the above
- C. Compare book and tax depreciation and indicate variances
- D. Identify paychecks with amounts over a certain limit
Answer: A
Explanation:
The2014 International Fraud Examiners Manualprovides examples of data analysis for accounts payable:
"Examples of data analysis queries that can be performed to help detect fraud through examination of accounts payable include:
* Audit paid invoices for manual comparison with actual invoices.
*Summarise large invoices by amount, vendor, etc.
* Identify debits to expense accounts outside of set default accounts.
* Reconcile cheque registers to disbursements by vendor invoice."
While other functions apply to payroll or asset management, themost effective function for accounts payable fraud detection is tosummarize large invoices by amount and vendor.
NEW QUESTION # 159
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