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To be eligible for the ACFE CFE-Fraud-Prevention-and-Deterrence Exam, candidates must have a bachelor's degree or equivalent professional experience, and they must be members of the ACFE. CFE-Fraud-Prevention-and-Deterrence exam consists of 500 multiple-choice questions, and candidates have four hours to complete it. CFE-Fraud-Prevention-and-Deterrence exam is divided into four sections: Financial Transactions and Fraud Schemes, Law, Investigation, and Fraud Prevention and Deterrence. The ACFE CFE-Fraud-Prevention-and-Deterrence Exam is a challenging certification that requires extensive knowledge about fraud prevention and detection, and it is widely recognized by employers as a valuable credential for professionals seeking to advance their careers in the field of fraud prevention and detection.
Reference: https://www.acfe.com/details-exam-preparation.aspx
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The CFE-Fraud-Prevention-and-Deterrence Exam is a computer-based test that consists of multiple-choice questions. CFE-Fraud-Prevention-and-Deterrence exam is divided into four sections, each testing the candidates on a specific area of fraud prevention and detection. The first section tests the candidate's knowledge of fraud prevention and deterrence, including understanding the principles of fraud prevention, assessing fraud risk, and implementing fraud prevention programs. The second section focuses on financial transactions and fraud schemes, including understanding accounting concepts, analyzing financial statements, and detecting and investigating financial statement fraud.
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| Section | Weight | Objectives |
|---|---|---|
| Fraud Risk Assessment | 15–20% | - Process and methodology - Identifying and prioritizing risks - Continuous assessment and improvement - Risk response and mitigation strategies |
| Understanding Criminal Behavior | 5–10% | - Differential reinforcement, rational choice, routine activities theory - Theories: differential association, social control, social learning - Behavior modification: punishment vs reinforcement |
| ACFE Code of Professional Ethics | 5–10% | - Principles and standards of conduct - Ethical obligations and compliance |
| Corporate Governance | 5–10% | - Guidance sources (OECD, Treadway Commission) - Framework and core principles - Definition and key stakeholders |
| Fraud Prevention Programs | 15–20% | - Training and awareness initiatives - Whistleblower systems and reporting channels - Design, implementation, and monitoring - Code of ethics and organizational culture |
| Management's Fraud-Related Responsibilities | 10–15% | - Roles in prevention, detection, and deterrence - Reporting obligations and accountability - Internal control and oversight duties |
| White-Collar Crime | 15–20% | - Fraud triangle and occupational fraud trends - Organizational opportunity and contributing factors - Impacts on individuals and society - Rationalization and control mechanisms - Organizational vs occupational crime - Prosecution and legal aspects |
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