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ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam Overview:

Certification Vendor:	Association of Certified Fraud Examiners
Exam Name:	Certified Fraud Examiner - Financial Transactions and Fraud Schemes Exam
Exam Number:	CFE-Financial-Transactions-and-Fraud-Schemes
Certificate Validity Period:	1 year membership renewal required
Exam Duration:	120 minutes
Exam Format:	Multiple Choice
Passing Score:	75%
Real Exam Qty:	125
Related Certifications:	Certified Fraud Examiner (CFE)
Available Languages:	English, Arabic, Spanish, Chinese
Exam Price:	$450 USD
Sample Questions:	ACFE CFE-Financial-Transactions-and-Fraud-Schemes Sample Questions
Exam Way:	Online proctored exam administered through the ACFE examination platform.
Pre Condition:	Candidates must meet ACFE eligibility requirements, including education, professional experience, and ACFE membership.
Official Syllabus URL:	https://www.acfe.com/cfe-credential/exam-preparation

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The CFE-Financial-Transactions-and-Fraud-Schemes Exam is a computer-based test that consists of multiple-choice questions. CFE-Financial-Transactions-and-Fraud-Schemes exam is divided into four sections, each of which covers a specific area of financial transactions and fraud schemes. The sections include Financial Transactions and Fraud Schemes, Fraud Prevention and Deterrence, Investigation, and Legal Elements of Fraud.

ACFE Certified Fraud Examiner - Financial Transactions and Fraud Schemes Exam Sample Questions (Q76-Q81):

NEW QUESTION # 76
Assets that are long-lived and that differ from property, plant, and equipment that has been purchased outright or acquired under a capital lease are:

A. Forced Assets
B. None of the above
C. Intangible Assets
D. Tangible Assets

Answer: C

Explanation:
Detailed Explanation:
* Rationale for Correct Answer:Intangible assets are long-lived assets that lack physical substance and differ from property, plant, and equipment. Examples include goodwill, patents, trademarks, and copyrights. They provide long-term benefits but cannot be physically touched.
* Analysis of Incorrect Options:
* A. Tangible Assets - These have physical form (e.g., equipment, land).
* C. Forced Assets - Not an accounting category.
* D. None of the above - Incorrect since intangible assets match the definition.
* Key Concept:Classification of Assets - tangible vs. intangible.
Reference:ACFE Fraud Examiners Manual (2020 International Edition), Accounting Concepts - Types of Assets.

NEW QUESTION # 77
Which of the following is TRUE regarding pyramid schemes?

A. None of the above
B. All pyramid organizational structures are illegal
C. An illegal pyramid scheme is modeled to pay off its earliest investors but not its later investors
D. The goal that participants of pyramid schemes have is to sell worthless products to friends and family

Answer: C

Explanation:
Detailed Explanation:
* Rationale for Correct Answer: Illegal pyramid schemes rely on continual recruitment of new members. Early participants are paid from the investments of later recruits, meaning later participants almost always lose money. This matches option B.
* Analysis of Incorrect Options:
* A - Not true; pyramid-shaped hierarchies exist in legitimate organizations.
* C - The goal isn't product sales but rather recruitment; products, if present, are often incidental.
* D - Incorrect because B is true.
* Key Concept: Ponzi and pyramid schemes - payment to early investors with later investors' funds.
Reference: ACFE Manual, Fraud Prevention and Deterrence - Pyramid Schemes.

NEW QUESTION # 78
Warner is part of management at ABC Corporation. He has been asked to implement measures to help prevent fraudulent billing schemes. Which of the following measures would likely be MOST EFFECTIVE?

A. Requiring all fraud tips to be reported to employees' direct supervisors
B. Combining the purchasing and payment functions within a single department
C. Using an external vendor to negotiate procurement contracts
D. Enforcing competitive bidding from potential vendors

Answer: D

Explanation:
Detailed Explanation:
* Rationale for Correct Answer: One of the strongest internal controls against fraudulent billing schemes (such as shell companies, inflated invoices, and kickbacks) is to require competitive bidding.
This ensures transparency, reduces favoritism, and makes it harder for employees and vendors to collude.
* Analysis of Incorrect Options:
* A - Fraud tips are valuable, but routing them only through supervisors may suppress reporting; hotlines are more effective.
* B - Combining purchasing and payment increases fraud risk by reducing segregation of duties.
* D - Outsourcing negotiations does not directly prevent billing fraud.
* Key Concept: Internal controls and segregation of duties in preventing billing schemes.
Reference: ACFE Manual, Fraudulent Disbursements - Billing Schemes.

NEW QUESTION # 79
Another way to eliminate competition in the solicitation phase of the selection process is to:

A. None of the above
B. Solicit bid from fictitious suppliers
C. Solicit bid-splitting from fictitious vendors
D. Solicit transaction from fictitious vendors

Answer: B

NEW QUESTION # 80
________ increase assets and expenses and/or decrease liabilities and/or equity.

A. Journal Entries
B. None of all
C. Debit
D. Credit

Answer: C

Explanation:
Detailed Explanation:
* Rationale for Correct Answer:In double-entry accounting, a debit increases assets and expenses while decreasing liabilities and equity. Debits are entries on the left side of an account.
* Analysis of Incorrect Options:
* A. Journal Entries - General record of transactions, not the specific effect.
* C. Credit - Opposite effect: increases liabilities/equity, decreases assets/expenses.
* D. None of all - Incorrect because "debit" is the recognized effect.
* Key Concept:Debit rules in double-entry accounting.
Reference:ACFE Fraud Examiners Manual (2020 International Edition), Accounting Concepts - Debits and Credits.

NEW QUESTION # 81
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