CFE Exam
The CFE Exam Application
Before
you take the CFE Exam, your application and supporting documentation
need to be processed. This includes your CFE Exam application, three CFE
Candidate Recommendation Forms, proof of your education, a recent photo
and the exam fee. The cost to take the CFE Exam is US $400*. If you
have purchased the CFE Exam Prep Course, you will receive a US $100
credit on the cost of the CFE Exam fee, the CFE Exam fee will be US
$300.
The CFE Exam application is non-refundable. We will keep your
application on file for two years. If, after two years you have not
completed the CFE Program, your application will be canceled and a new
application, fee and supporting documentation must be submitted.
*Please note that all fees are subject to change, and you are advised to confirm the latest fee structure at www.acfe.com.
The CFE Exam Application FAQ
What proof of education is required?
A
photocopy of transcripts or certificates for any degrees earned and
professional certifications acquired must be sent in along with your
application. Translations will be required for any documentation not
originally provided in English.
Why are CFE Candidate Recommendation Forms required with the application?
In
order to maintain the high standards held by the ACFE and to ensure the
integrity of the CFE credential, it is important to certify all
candidates are of good moral character and a strong addition to the
anti-fraud profession. Pick three individuals to complete these forms on
your behalf. These individuals need to have worked with you
professionally. For example, a past or current co-worker or supervisor.
CFE Exam Content
The CFE Exam covers the following four areas:
- Fraud Prevention and Deterrence: Tests
your knowledge of why people commit fraud and what can be done to
prevent it. Topics covered in this section include crime causation,
white-collar crime, occupational fraud, fraud prevention, fraud risk
assessment, and the ACFE Code of Professional Ethics.
- Financial Transactions: This
section tests your knowledge of the types of fraudulent financial
transactions incurred in accounting records. To pass this section, you
will be required to demonstrate knowledge of these concepts: basic
accounting and auditing theory, fraud schemes, internal controls to
deter fraud and other auditing and accounting matters.
- Fraud Investigation: This
section includes questions in the following areas: interviewing, taking
statements, obtaining information from public records, tracing illicit
transactions, evaluating deception and report writing.
- Legal Elements of Fraud: This
section ensures that you are familiar with the many legal ramifications
of conducting fraud examinations, including criminal and civil law,
rules of evidence, rights of the accused and accuser and expert witness
matters.
Details of the CFE Exam:
The
CFE Examination contains 500 objective and true/false questions that
tests your knowledge and expertise in the four primary areas of fraud
investigation: Fraudulent Financial Transactions, Legal Elements of
Fraud, Fraud Investigation, and Criminology and Ethics.
The
CFE Exam is administered via computer so it can be taken at a time
convenient to you. The CFE Exam is a Windows-based application in CD-ROM
format. The exam has a number of sophisticated controls to ensure
integrity and each exam is generated from a master database. No two
tests are alike.
Taking the CFE Exam
The
CFE Exam is a Windows-based application in CD-ROM format. The exam has a
number of sophisticated controls to ensure integrity and each exam is
generated from a master database. No two tests are alike.
To install, you will need a computer with these capabilities:
- Processor: Pentium or better
- Operating System: Windows 98 or later
- Disk Space: 100 MB of available disk space
- Memory: 32 MB
Taking the CFE Exam FAQ:
When can I take the CFE Exam?
You
may take the CFE Exam any time during the year. When you have submitted
your complete CFE Exam application and are prepared to take the CFE
Exam you may request the exam. Your request for the CFE Exam will be
fulfilled within 3-5 business days.
- If you studied with the Fraud Examiners Manual, simply request the exam via email at Exam@ACFE.com.
- If
you have studied with the CFE Exam Prep Course, you already have the
exam that corresponds to your Prep Course installed on your computer,
submit your completed CFE Exam Prep Course progress file to exam@ACFE.com and we will send you the code to access your CFE Exam on your computer
How much time will I need to take the CFE Exam?
It
will take approximately 10 hours to complete the CFE Exam. Each section
is allocated a maximum of 2.6 hours to complete. Each of the four exam
sections has 125 questions and you will have a maximum of 75 seconds to
answer each question.
You have 30 days to complete all
four sections of the CFE Exam and return it to the ACFE for grading.
You must complete each section in one sitting, but you do not have to
complete all four sections at once.
Submitting the CFE Exam
You
will need to submit your completed exam to the ACFE for review. To send
exam results, go to the “Utilities” menu of the CFE Exam program and
choose “Export Results.” Save this file to your computer and email a
copy to exam@ACFE.com. Alternatively, you may mail a copy by diskette to:
Association of Certified Fraud Examiners
Attn: |
Certification Department
716 West Avenue
Austin, TX 78701 USA |
Phone: |
(800) 245-3321
+1 (512) 478-9000 |
Fax: |
+1 (512) 478-9297 |
Please
remember to mail or fax your examinee affidavit verifying your
completion of the exam; you will receive a link to the examinee
affidavit from the ACFE with your CFE Exam access code and CFE Exam
results email. To avoid certification delays, ensure your CFE Exam
application is complete, including your CFE Exam application, three CFE
Candidate Recommendation Forms, proof of education and professional
certifications, and a recent photo.
Submitting the CFE Exam FAQ:
How will I know if I passed the CFE Exam?
You
will receive a notification on whether you passed or failed via email
within 3-5 business days. In order to pass the exam, you must score at
least 75% correct on each and every part. Exam scores are only released
when you have not achieved the 75% pass rate. This procedure ensures the
integrity of the testing process. The ACFE Board of Regents oversees
the exam process. If you have studied using the CFE Exam Prep Course and
do not pass, you might qualify for the Money-Back Pass Guarantee. If
you do not qualify for the Money-Back Pass Guarantee or have studied on
your own and do not pass, you may retake one section of the CFE Exam for
$40, two sections for $75, three to four sections for $100. Failed exam
sections may be paid for and retaken as many times as necessary, with
one limitation: members must pass all four sections in three consecutive
attempts. Once you pass the CFE Exam, your complete CFE Exam
application will be reviewed by the ACFE Certification Committee. You
should receive email notification of your CFE certification status
within 5-7 business days of passing your exam and completing the CFE
Exam application process. Your CFE certificate will be mailed to you
within 4 to 6 weeks of your approved CFE certification notification.
Please note:
- The
ACFE’s Money-Back Pass Guarantee assures that any applicant who
prepares for the CFE Exam with the CFE Exam Prep Course and fails the
exam will be offered either free retakes of the exam or a refund of the
cost of the CFE Exam Prep Course. In order to qualify for the Money-Back
Pass Guarantee, you must meet certain conditions.
CFE Exam Prep Course FAQ
Why is the CFE Exam Prep Course recommended?
Without
the CFE Exam Prep Course, fewer than one in five candidates pass all
sections of the exam on the first attempt. We are so confident of the
CFE Exam Prep Course’s ability to prepare you for the CFE Exam that the
ACFE guarantees you will pass on your first attempt or we will refund
your money or let you retake sections of the CFE Exam at no charge
(Money-Back Pass Guarantee).
Do I need to take the CFE Exam Prep Course?
No.
The CFE Exam Prep Course is recommended to all exam applicants as the
most comprehensive way to review for the exam; however, the course is
not required. The CFE Exam Prep Course is offered in the following
versions: US, Canadian, International, Japanese and UK.
How does the CFE Exam Prep Course work?
The
CFE Exam Prep Course focuses on four testing areas significant to the
CFE Exam: Legal Elements of Fraud, Fraud Prevention and Deterrence,
Financial Transactions, and Investigation Techniques. By providing
typical exam questions, the program informs you whether your answer is
correct and provides an explanation and study reference. The CFE Exam
Prep Course contains 1,500 questions answers, and explanations. When
you have answered all questions correctly and consistently scored at
least 85% or more on the practice test for each section, you will be
ready for the exam.
What is included in the CFE Exam Prep Toolkit?
The
toolkit includes the CFE Exam Prep Course, Fraud Examiners Manual
(printed), Encyclopedia of Fraud (CD-ROM), and Corporate Fraud Handbook
for $815 plus shipping and handling. Members also have the option of
paying for the CFE Exam Prep Toolkit with our Members-Only Installment
Plan with a total cost of $870 paying six monthly payments of $145 each
(credit card payments only).
What is the ACFE’s Money-Back Pass Guarantee?
The
ACFE’s Money-Back Pass Guarantee assures that any applicant who
prepares for the CFE Exam with the CFE Exam Prep Course and fails the
exam will be offered either free retakes of the exam or a refund of the
cost of the CFE Exam Prep Course.
If
I have been studying an old version of the CFE Exam Prep Course and
just recently registered to take the exam, will the test correspond with
my study materials?
Not necessarily. Please contact Member Services for details.
Can I purchase a printed version of the CFE Exam Prep Course?
No. The CFE Exam Prep Course is a computer program only offered on CD-ROM.
Can I share my CFE Exam Prep Course with anyone?
No. The CFE Exam Prep Course is designed for a single user, not for transfer or resale.
Can I load the CFE Exam Prep Course on more than one computer?
Yes. Your “Exam Prep Summary” will reflect all of your work done on multiple computers if you follow these directions.
- Choose “export progress file” from the Utilities menu.
- Save a copy to your hard drive. Save a copy to a floppy disk.
- Install the prep course on the second computer using the CD-Rom and the unlocking code.
- Go to the Utilities menu and choose “import progress file.”
- Choose the saved file from the floppy disk.
- Repeat this process every time you switch computers
Once I have completed my CFE Exam Prep Course, what do I do next?
Make
sure that you have completed all your paperwork (submitted your three
CFE Candidate Recommendation Forms, proof of education and experience
and are an Associate Member of the ACFE).
- If you have studied using the CFE Exam Prep Course software, send your progress file to exam@ACFE.com.
To export this file, go to the Utilities menu in the CFE Exam Prep
program. Choose “Export Progress File” in this menu. Save a copy on your
computer and email a copy to the ACFE at exam@ACFE.com.
We will send you the exam code to unlock the exam that was included in
the prep course software. It will take 3-5 business days for us to
verify your completion of the CFE Exam Prep Course and send you the code
via email.
- If you studied on your own, using the Fraud Examiners Manual, please contact us at exam@ACFE.com to request your CFE Exam. We will mail you a CD-ROM of the exam.
If I decide not to study with the CFE Exam Prep Course, what are my other study options?
You can study on your own using the Fraud Examiners Manual and
other additional reference materials. Approximately 90% of the CFE
Exam’s questions are derived from material contained in the Fraud Examiners Manual while the remainder compiled from the Corporate Fraud Handbook, Second Edition.