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USA
Certified Fraud Examiner (CFE) Exam
600 questions
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About this exam
The Certified Fraud Examiner (CFE) Exam assesses knowledge used in fraud examination and anti-fraud work; it is not a general accounting license exam. Accountants may pursue the CFE to build or demonstrate expertise in investigating fraud, evaluating controls, and helping organizations reduce fraud risk. The exam covers financial transactions and fraud schemes, law, investigation, and fraud prevention and deterrence. For accounting candidates, asset misappropriation—including cash schemes—along with fraud risk assessment and internal controls are useful areas to connect to practical workplace scenarios.
The CFE Exam is organized into four subject sections, and candidates should check the current ACFE candidate handbook for the latest testing format, timing, and rules. Eligibility and certification involve ACFE membership and qualifying education, professional experience, or other credentials under ACFE’s requirements; meeting exam eligibility is not necessarily the same as meeting every certification requirement. Preparation is broad, so accountants should review all four sections rather than relying only on familiar financial topics. A steady plan combining official materials, topic review, and timed question practice can help identify gaps.
How to prepare for the Certified Fraud Examiner Exam
- Use the current ACFE exam outline and candidate handbook to map the four sections, then schedule review time for each, including law and investigation topics that may be less familiar to accountants.
- Review fraud prevention and deterrence, ethics, risk assessment, internal controls, and asset misappropriation schemes; for cash schemes, practice explaining how the fraud works and which controls could prevent or detect it.
- Use timed multiple-choice practice to spot weak areas, read explanations for missed questions, and revisit the relevant topic in official ACFE study materials rather than memorizing answers.
FAQ
Who is eligible to take the CFE Exam?
Eligibility is based on ACFE requirements, which include membership and a points-based assessment of qualifying education, professional experience, and other credentials. Exam eligibility and the requirements for earning the CFE credential are not always identical, so check the current ACFE certification guidance for your situation.
What is the format of the CFE Exam?
The exam is divided into four sections: financial transactions and fraud schemes, law, investigation, and fraud prevention and deterrence. Testing procedures, timing, and other administrative details can change, so consult the current ACFE candidate handbook before scheduling.
What subjects should I study for the CFE Exam as an accountant?
Review all four exam sections, with particular attention to fraud schemes and financial transactions, fraud risk assessment, internal controls, ethics, and fraud prevention. Accountants should also prepare for law and investigation content rather than focusing solely on accounting-related material.