How many exams are there in CFE?

Certified Fraud Examiner

In the anti-fraud industry, the Certified Fraud Examiner (CFE) credential is acknowledged as the benchmark for professional excellence on a global scale. The professionals who wish to earn this credential must complete a demanding four-part test covering Financial Transactions and Fraud Schemes, Law, Investigation, and Fraud Prevention and Deterrence, which are the main disciplines that make up the fraud examination body of knowledge.Read more.

• Financial Transactions and Fraud Schemes: This examination section encompasses the accounting basics as well as various fraud schemes around different functions and industries. By understanding the concepts under this module, a professional can understand how fraudsters actually penetrate different fraud schemes, making even the most cutting-edge systems and networks vulnerable to their malicious attempts. 

This module constitutes a comprehensive curriculum of-

• Accounting Concepts
• Financial Statement Fraud
• Asset Misappropriation: Cash Receipts
• Fraudulent Disbursements
• Inventory and Other Assets
• Bribery and Corruption
• Theft of Data and Intellectual Property
• Identity Theft
• Financial Institution Fraud
• Payment Fraud
• Insurance Fraud
• Health Care Fraud
• Consumer Fraud
• Computer and Internet Fraud
• Contract and Procurement Fraud
• Law: Law is the section of CFE exam that covers the legal rules, regulations, and compliances that a fraud investigator must be aware of prior, during and post the fraud investigation process. Being thorough with this section ensures that the certified fraud investigator seamlessly complements civil & criminal justice system. This module constitutes a comprehensive curriculum of-
• Overview of The Legal System
• The Law Related to Fraud
• Bankruptcy (Insolvency) Fraud
• Securities Fraud
• Money Laundering
• Tax Fraud
• Individual Rights During Examinations
• The Criminal Justice System
• The Civil Justice System
• Basic Principles of Evidence
• Testifying
• Investigation: The investigation section of CFE exam comprises the strategies, tools, and techniques that a fraud examiners requires to extract relevant data and evidence while conducting a fraud investigation.This module constitutes a comprehensive curriculum of-

• Planning and Conducting a Fraud Examination
• Analyzing Documents
• Interview Theory and Application
• Interviewing Suspects and Signed Statements
• Covert Examinations
• Sources of Information
• Data Analysis and Reporting Tools
• Digital Forensics
• Tracing Illicit Transactions
• Report Writing

• Fraud Prevention and Deterrence: This section of CFE exam incorporates the robust approach to fraud risk assessment, management techniques besides its prevention and mitigation. This module constitutes a comprehensive curriculum of-
• Understanding Criminal Behaviour
• White-collar Crime
• Corporate Governance
• Management’s Fraud – Related Responsibilities
• Auditors’ Fraud Related Responsibilities
• Fraud Prevention Programs
• Fraud Risk Assessment
• Fraud Risk Management
• Professional code of Ethics

Prepare for and pass all four sections of the CFE Exam

Candidates must prepare for and pass all four sections of the CFE Exam to earn their certification. The Association of Certified Fraud Examiners (ACFE) provides a detailed study guide and review course to help candidates prepare for the exam. Upon passing, individuals are awarded the CFE credential, recognizing their expertise in fraud prevention, detection, and investigation.