Best Strategies to Study and Pass the CFE Exam in 2023

Before the CFE Exam

• When making a schedule, be practical

It’s easy to tell yourself that you will study for 10 hours a day, every day, and read every topic that could be on this exam, but it is not only unachievable but will burn out quickly. When constructing a timetable, it is essential that you write down all the fake cases so that you can identify the themes that keep coming up. Additionally, take days off to unwind. When you initially start studying, attempt to keep a study schedule that allows you to study and relax at the same time to take your mind off the forthcoming exam!

• Debriefing

Both the CFE exam workshops and study materials go into detail about debriefing cases, and for good reason: you must debrief every case you write. The most crucial reason for debriefing is to ensure that you have covered all the necessary points to pass each case, as well as to check whether there are any areas you are completely missing or need to study more. This is also true for subjects you are familiar with; as the exam approaches, you will notice that you are likely over-explaining in some places and will be able to determine how much time to devote to each segment. It is strongly advised to debrief soon after writing each practice case while the subject is still fresh in your mind, and then study the feedback provided on cases once they have been marked. Reviewers will frequently include suggestions for what to look for in cases to help you hit both breadth and depth.

• Be honest with your schedule

To effectively prepare for the certified fraud examiner exam, write all mock cases as if you were taking the test. Only use permitted equipment (laptop, coloured highlighters to differentiate distinct required points, etc.) and store all notes to avoid being tempted to peek while writing. Most importantly, compose the examples in the recommended time frame to assist you determine how much time you should spend on each required point. Because CFE exam reviewers do not expect you to hit every single point under a given topic, you must learn to recognise when it is enough and move on to the next required point.

Let’s be honest: your first few cases will most likely not go as well as you expect, and you may end up missing the required points or running out of time. But don’t give up; as you become used to formatting and creating more cases, your time management will improve, and your cases will improve dramatically. To gain honest evaluation from the markers, handle the instances precisely as written, rather than adding more points before turning them in. Because the practice cases are only marked for completion, making up your instances before submitting them prevents you from receiving feedback on how well you are doing.