How difficult is the Certified Fraud Examiner test?
Preparing for the Certified Fraud Examiner (CFE) examination is not an easy task. However, given the growing number of professional alternatives, the CFE course in India has emerged as a top choice in the job market. It is the professional qualification offered to fraud examiners. The Association of Certified Fraud Examiners (ACFE), the world’s leading anti-fraud organization, bestows the CFE title. The CFE exam has proven to be an excellent tool to advance one’s career opportunities and progress. Therefore, it is recommended that one must set aside all reservations and fears while studying for the Certified Fraud Examiner course.
Exactly how difficult is the Certified Fraud Examiner test?
No exam is tough if you work hard and practise with the appropriate materials.
There are 100 MCQs in the Certified Fraud Exam, with only 75 seconds to answer each question. Furthermore, the CFE Exam is a closed-book, closed-notes exam. Additionally, the professionals must keep in mind that they must secure at least 75% of the marks. This examination also includes the four components listed below:
- Examining and Investigating Fraud
It will put your knowledge of why individuals commit fraud and how to prevent it to the test. This section discusses the causes of crime, white-collar crime, occupational fraud, fraud prevention, fraud risk assessment, and the ACFE Code of Professional Ethics.
- Criminal Justice and Ethics
This section covers questions regarding conducting interviews, taking statements, gathering information from public documents, tracing illicit activities, judging dishonesty, and preparing reports.
- Financial Transactions and Fraud Schemes
It will assess your understanding of the various fraudulent financial transactions in accounting records. You must understand the following concepts to pass Financial Transactions & Fraud Schemes: basic accounting and auditing theory, fraud schemes, internal controls to deter fraud, and other auditing and accounting matters.
- Legal Aspects of Fraud
This guarantees your acquaintance with many legal repercussions performing fraud examinations, including criminal and civil law, rules of evidence, rights of the accused and accuser, and expert witness matters.
All you need to clear the certified fraud exam is a CFE study guide. Furthermore, you must exercise extreme caution while selecting study materials. Some in the Fraud Examiner Industry may argue that this test is difficult to break because people are terrified of putting up effort and working hard. Don’t worry. We’ve gathered all the relevant resources to assist you in better preparation and strategizing. Let’s get you started.
Making Use of the Fraud Examiners Manual
The Fraud Examiners Manual is an excellent reference guide when taking the CFE Exam Preparation Course. The Fraud Examiners Manual, designated as the standard for anti-fraud education, is a comprehensive guide that describes the most recent fraud examination systems, strategies, methodologies, and procedures.
Discussion Boards
ACFE affiliates can raise problems online and receive input from other members and ACFE officials at the Certified Fraud Examiner CFE exam discussion conference. You can participate in certain study groups where you can discuss the concepts with others who share your goals. This will guide the candidate through the CFE course in India throughout their preparation.
CFE Exam Coach E-Newsletter
CFE Exam Coach E-Newsletter contains study tips, practice questions, and advice from members who have already taken the exam, among other things. This regular e-newsletter is an invaluable resource for CFE certification candidates. To receive this helpful tool, ensure your email address is up to date with the ACFE.
Examine with a Practice Test
When you have completed all your preparation, it is always a good idea to take some practice tests before sitting for the actual CFE exam. CFE test questions will not only boost your confidence but will also highlight the areas in your preparation that demand more emphasis and hard work. Taking real-time practice tests will also help you overcome exam anxiety and stress related to the certified fraud exam.