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| Certification Vendor: | Association of Certified Fraud Examiners (ACFE) |
| Exam Name: | Certified Fraud Examiner (CFE) Exam – Fraud Investigations and Legal Issues |
| Exam Number: | CFE-Fraud-Investigations-and-Legal-Issues |
| Real Exam Qty: | 100 (may vary by exam administration) |
| Passing Score: | 75% (scaled) |
| Related Certifications: | Certified Fraud Examiner (CFE) |
| Certificate Validity Period: | CFE credential requires ongoing ACFE membership renewal and compliance; certification maintenance is annual |
| Exam Duration: | 150 (per section, approx.) |
| Available Languages: | English |
| Exam Price: | Varies (~USD 100–450 per section depending on membership status and exam bundle) |
| Exam Format: | Multiple-choice questions |
| Sample Questions: | ACFE CFE-Fraud-Investigations-and-Legal-Issues Sample Questions |
| Exam Way: | Computer-based, online proctored exam or authorized testing center depending on ACFE administration region and availability |
| Pre Condition: | No formal prerequisites to sit for the exam section; however, earning the CFE credential requires ACFE eligibility criteria (including the Fraud Examiners Association point system covering education and professional experience). |
| Official Syllabus URL: | https://www.acfe.com/cfe-credential |
| Section | Weight | Objectives |
|---|---|---|
| Fraud Investigations and Legal Issues | 25% | - Legal Issues
|
1. Myra, a Certified Fraud Examiner (CFE), is investigating an alleged embezzlement scheme committed by an accountant of a nonprofit organization. During a review of records on a computer hard drive, Myra discovers a logbook showing frequent cash withdrawals from the petty cash fund made by the suspect accountant.
Which type of evidence would the records be considered?
A) Digital evidence.
B) Documentary evidence.
C) Virtual evidence.
D) Analog evidence.
2. Jay files for bankruptcy in order to settle all of his debts. During the bankruptcy proceeding, the court sells off his property and uses the proceeds to pay Jay ' s creditors, thereby discharging all of Jay ' s dischargeable debts. This type of bankruptcy proceeding can BEST be described as:
A) Liquidation bankruptcy
B) Debt dismissal bankruptcy
C) Debt adjustment bankruptcy
D) Reorganization bankruptcy
3. Management at Oak Company has asked Arthur, an internal auditor, to implement a data analysis program to search for warning signs of potential fraud within the company. Which of the following steps should Arthur conduct first to MOST effectively use data analysis techniques for such an initiative?
A) Obtain the data.
B) Analyze the data.
C) Build a profile of potential frauds.
D) Cleanse and normalize the data
4. Maddie, a Certified Fraud Examiner (CFE), is investigating allegations that an employee in Pyramid Corporation's Payroll Department is embezzling funds for personal use. Which of the following types of information will Maddie MOST LIKELY be able to obtain from external sources without the subject's consent or the use of a legal order?
A) The suspect employee's wage and salary records.
B) Email history from the suspect employee's work account.
C) Real property assets that the suspect employee has acquired.
D) Documents in the suspect employee's personnel file.
5. Which of the following is the MOST ACCURATE statement regarding the analysis phase in digital forensic investigations?
A) During the analysis phase, it is best to use a combination of the various forensic tools that can assist h identifying, extracting, and collecting digital evidence
B) The analysis phase of digital forensic investigations should not commence unless it is verified that the suspect devices do not contain relevant data.
C) When analyzing data for evidence, fraud examiners should look for exculpatory evidence but not exculpatory evidence
D) The primary concern when analyzing digital evidence is to protect the collected information from seizure
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: A |
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