It is not easy to prepare for the Certified Fraud Examiner exam (CFE). CFE is a popular choice in the job market due to the growing number of career options. Certified Fraud Examiner (CFE), a professional certification for fraud examiners, is available. The Association of Certified Fraud Examiners is the largest anti-fraud organization in the world. The CFE designation is a professional certification. When you prepare for the Certified Fraud Examiner, (CFE), forget about all doubts and inhibitions. It is not difficult to prepare for the Certified Fraud Examiner (CFE) if you have all the relevant details and the right resources.
You can also excel in your career with a good certification. We have put together this article to help you plan better. Let’s get started by reviewing some important exam details!
What is Certified Fraud Examiner Exam (CFE)?
The Association of Certified Fraud Examiners gives the credential of Certified Fraud Examiner (CFE). The ACFE association also provides anti-fraud education and training. The ACFE, which has more than 80,000 members worldwide, aims to reduce fraud in business and inspire confidence in the integrity of the profession. CFE training includes knowledge of complex financial transactions, understanding of forensic law and how to solve fraud allegations. Fraud examiners are trained in understanding how and why fraud happens.
CFE Exam Requirements
This certification is one of the most sought-after in the market. You need to be prepared for it.
CFE certification requires applicants to have a minimum of a bachelor’s or equivalent degree from an institution of higher learning. For each year of college, you can substitute two years of relevant professional experience in fraud.
At the time of certification, you must have at least two years’ experience in a field directly or indirectly related the detection or deterrence fraud. The ACFE recognizes these areas as professional experience.
First, Accounting and Auditing
Secondly, sociology and criminology (sociology is only acceptable if it concerns fraud).
Third, Fraud investigation
The next step is Loss Prevention (experience as security guards or equivalents is not acceptable).
Last but not least, other experiences may be eligible but must still be evaluated for their applicability.
You are now done with the basics of the exam. It’s now time to find out more about the exam. For the Certified Fraud Examiner CFE exam, there will be 500 questions. Each question takes 75 seconds. The CFE Exam is closed-book and closed notes. You must score at least 75%. The examination is divided into four sections, which are listed below.
Fraud Investigation and Examination
Criminology and ethics
Legal Elements of Fraud
Certified Fraud Examiner (CFE) Course Outline
The Certified Fraud Examiner CFE exam sections include:
Fraud schemes and financial transactions
It measures the candidate’s ability to comprehend the various fraudulent financial activities that can be found in accounting records.
To claim Financial Transactions & Fraud Schemes, candidates will need to demonstrate knowledge of the following concepts: fraud schemes and basic accounting and auditing theory. Internal controls to prevent fraud and other accounting and auditing matters.
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