2026 ACFE CFE-Fraud-Schemes-and-Financial-Crimes Unparalleled Latest Exam Practice

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

Section	Weight	Objectives
Asset Misappropriation – Non-Cash Assets	5–10%	- Misuse of assets - Inventory and equipment theft - Concealment techniques
Accounting Concepts	5–10%	- Financial statements structure - Recording and summarizing transactions - Basic accounting principles - Internal control fundamentals
Asset Misappropriation – Cash Disbursements	10–15%	- Billing schemes - Payroll schemes - Expense reimbursement schemes - Check and payment tampering
Corruption Schemes	5–10%	- Bribery and kickbacks - Illegal gratuities and extortion - Conflicts of interest
Theft of Data and Intellectual Property	5–10%	- Corporate espionage - Safeguarding proprietary information - Data and IP theft methods
Industry-Specific Financial Crimes	15–25%	- Real estate and securities fraud - Insurance fraud - Cyber-enabled and cryptocurrency fraud - Financial institution fraud - Healthcare fraud
Financial Statement Fraud	10–15%	- Detection and red flags - Expense and liability understatements - Timing and disclosure manipulations - Revenue and asset overstatements
Asset Misappropriation – Cash Receipts	5–10%	- Cash larceny schemes - Cash skimming schemes - Prevention and detection methods
Identity Theft	1–5%	- Prevention and detection - Types and techniques

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CFE-Fraud-Schemes-and-Financial-Crimes Latest Exam Question | CFE-Fraud-Schemes-and-Financial-Crimes Test Simulator Fee

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ACFE Certified Fraud Examiner -Fraud Schemes and Financial Crimes Sample Questions (Q191-Q196):

NEW QUESTION # 191
The taxing authority in a country allows companies to subtract the cost of production from their gross sales to determine taxable income. A business owner operating in that country purchases materials from a local supplier and pays the supplier to alter the receipt to show a higher price than was paid. When the business owner submits the company's tax information to the taxing authority, they submit the altered receipt to reduce their tax burden. The business owner is MOST LIKELY committing which of the following schemes?

A. A failure to declare income scheme
B. A falsified tax deduction scheme
C. An excise tax evasion scheme
D. A tax credit deferral scheme

Answer: B

Explanation:
The correct answer is C. The business owner is committing a falsified tax deduction scheme by fraudulently inflating production costs to reduce taxable income. Deductions are legitimate only when they accurately reflect allowable expenses. Here, the owner paid the supplier to alter the receipt so that the company appears to have incurred a higher deductible cost than it actually did. This false documentation reduces reported taxable income and therefore lowers the tax liability improperly. Option A is incorrect because the facts do not involve excise taxes on a specific class of goods. Option B is incorrect because the owner is not omitting income; they are overstating expenses. Option D is not applicable because the scheme involves deductions, not tax credits.

NEW QUESTION # 192
Which of the following is a reason why prepaid debit and gift card fraud schemes are appealing to fraudsters?

A. Prepaid cards are often not accepted by online retailers and can only be used in transactions in which the cards must be physically present.
B. Prepaid cards can be purchased with stolen credit cards and used to quickly convert illicit credit card funds into legitimate cash.
C. Prepaid cards can only be purchased from financial institutions.
D. All of the above are reasons why prepaid cards are appealing to fraudsters.

Answer: B

Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Prepaid debit and gift cards are attractive because they allow fraudsters to convert stolen credit card funds into cash or easily launder illicit funds . They are widely available and accepted both in person and online, making option A correct.
* Analysis of Incorrect Options:
* B. Only from financial institutions - False; cards are sold at retail stores and online.
* C. Not accepted online - False; they are accepted by most online retailers.
* D. All of the above - Incorrect since B and C are false.
* Key Concept: Prepaid card fraud as part of asset misappropriation and identity theft schemes.
Reference: ACFE Fraud Examiners Manual (2020) , Fraudulent Disbursements and Payment Cards .

NEW QUESTION # 193
Kara owns a business selling rare goods. Some of the goods Kara sells are of high value, but she reports significantly lower values to the taxing authority for those transactions. Which of the following options BEST describes Kara's scheme?

A. Wealth tax evasion scheme
B. Consumption tax scheme
C. Falsified tax deduction scheme
D. Tax credit scheme

Answer: B

Explanation:
Kara's conduct is best classified as a consumption tax scheme because she is underreporting the taxable value of sales transactions. Consumption taxes include sales tax, value-added tax, and excise taxes collected from the sale of goods or services. The ACFE material explains that fraudsters evade consumption taxes by omitting transactions or deflating transaction values in tax records. Here, Kara does not merely hide wealth or claim false deductions; she misstates the value of goods sold so the tax authority calculates less tax than is owed. Wealth tax evasion concerns assets or net worth, while tax credit and deduction schemes involve improper reductions of tax liability through credits or expenses.

NEW QUESTION # 194
_________ assumes the business will go on indefinitely in the future.

A. Cost
B. Going concern
C. Materiality
D. Fair value

Answer: B

Explanation:
Detailed Explanation:
* Rationale for Correct Answer: The going concern assumption means that a business will continue operating indefinitely and will not liquidate in the near future. This underpins the use of historical cost accounting and normal accrual-based reporting.
* Analysis of Incorrect Options:
* A. Materiality - Relates to significance of information, not continuity.
* C. Cost - Refers to historical cost valuation.
* D. Fair value - Refers to current market value, not continuity.
* Key Concept: Going Concern Assumption in accounting.
Reference: ACFE Fraud Examiners Manual (2020 International Edition) , Accounting Concepts - Basic Assumptions .

NEW QUESTION # 195
Which of the following scenarios is an example of upcoding?

A. Dr. Catz spends 15 minutes with a patient. She later submits a bill to the patient's insurance company using a code that corresponds to an office visit lasting 60 minutes.
B. Hope is diagnosed with an ear infection. Hope's doctor writes her a prescription for a name brand medication instead of prescribing a less expensive generic medication.
C. Dr. Smith performed a hysterectomy on Roberta. Dr. Smith submits an insurance claim using three procedure codes instead of the single code normally used for a hysterectomy.
D. Steven receives medical services prior to his new insurance going into effect. Before submitting the claim, he changes the service date on his bill so that it will be covered by insurance.

Answer: A

Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Upcoding occurs when a provider bills for a higher level of service than what was actually provided. Billing a 15-minute visit as a 60-minute visit is a classic upcoding scheme.
* Analysis of Incorrect Options:
* A. Name brand prescription - Not upcoding; this is prescribing choice, not billing fraud.
* B. Multiple codes instead of one - This is unbundling , not upcoding.
* D. Changing service date - This is falsifying service dates , not upcoding.
* Key Concept: Health care billing fraud - upcoding vs. unbundling.
Reference: ACFE Fraud Examiners Manual (2020) , Fraudulent Disbursements: Health Care Fraud .

NEW QUESTION # 196
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