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The Certified Fraud Examiner (CFE)What is a Certified Fraud Examiner (CFE)? A Certified Fraud Examiner (CFE) is a leader in the anti-fraud community, noted as a specialist in the prevention and deterrence of fraud. They represent the highest standards held by the ACFE and possess expertise in all aspects of the anti-fraud profession. How do I know if I am eligible to become a CFE? Qualifications for becoming a CFE include having high moral character and meeting minimum professional and academic requirements. Click here for full details. I already hold other certifications. Does this qualify me as a CFE as well? No. The Certified Fraud Examiner (CFE) is a unique credential with its own requirements and standards. Your other certifications may be counted as part of the qualifying points system but will not automatically make you a CFE. Who sets the standards for CFE certification? The standards are set by the ACFE's Board of Regents, who are elected by CFE members and drawn from our most experienced members. Is the CFE credential acknowledged globally? Yes. The CFE credential is acknowledged globally and preferred by employers. Becoming a CFE immediately sets you apart from the competition and launches you to the top of your profession. Do other entities offer the CFE certification? No. CFE certification is a unique aspect of the ACFE. Which seminars or video courses should I take in order to prepare for the CFE Exam? If you are pursuing the Certified Fraud Examiner (CFE) credential, the CFE Exam Review Course will help you master the concepts tested on the CFE Exam: Financial Transactions; Legal Elements of Fraud; Fraud Investigation; and Fraud Prevention and Deterrence. This 3½ day, instructor-led course provides the essentials needed to pass the CFE Exam and become a Certified Fraud Examiner. This course, in combination with the CFE Exam Prep Course® software, will provide you with an unbeatable combination for passing the exam. How can I prepare for the exam? It is important that you take the time to prepare for the CFE Exam. There are many different ways you can prepare, but the following are most common: Study on your own using the Fraud Examiners Manual and the Corporate Fraud Handbook, Third Edition. Approximately 90% of the CFE Exam's questions are derived from material contained in the Fraud Examiners Manual while the remainder is compiled from the Corporate Fraud Handbook, Third Edition. Users of the CFE Exam Prep Course do not need to purchase these additional references. The relevant information from each reference is included in the CFE Exam Prep Course. However, users are encouraged to review these additional references if more information is needed. Study with the CFE Exam Prep Course, available in US, Canadian, International, Japanese and UK editions. The CFE Exam Prep Course provides the most effective preparation tool for the CFE Exam, allowing you to study on your own time, at your own pace from your home or work computer. Featuring study questions and practice exams that simulate the actual CFE Exam experience, the CFE Exam Prep Course has been designed to prepare you to pass the rigorous CFE Exam. Attend the CFE Exam Review Course. This 3½-day, instructor-led course provides the essentials needed to pass the CFE Exam and become a Certified Fraud Examiner. This course, in combination with the CFE Exam Prep Course software, will provide you with an unbeatable combination for passing the exam. Click here for more information on the details of the CFE Exam.
CFE Exam Prep Course software 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? 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, 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. How much does the CFE Exam Prep Course cost? The full price of the CFE Exam Prep Course is US $945 plus shipping and handling. Associate Members receive a discounted member price of $745 plus shipping and handling. Members also have the option of paying for the CFE Exam Prep Course with our Members-Only Installment Plan, a total cost of $780 (including shipping UPS Ground and administrative fee) paying six monthly payments of $130 each (credit card payments only). Applicants who have already applied and paid for the CFE Exam receive a $100 savings off of the CFE Exam Prep Course. 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 US $845 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 $900 paying six monthly payments of $150 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. In order to qualify for the Money-Back Pass Guarantee, you must meet the following conditions: You must complete the CFE Exam Prep Course within one year from purchase date. You must take the CFE Exam within 90 days of completing the CFE Exam Prep Course. Your completion date is recorded automatically by the software the day of the last completed section. You must correctly answer all questions in the CFE Exam Prep Course database at least once. If you incorrectly answer a question, it will return to the question pool and you will be asked the question again at a future time. You must score at least 85% on the practice exam for each section. If you request your Exam Activation Key before completing the CFE Exam Prep Course, you waive your Money Back Pass Guarantee. Should you waive your Money Back Pass Guarantee and wish to earn 35 CPE for completing the CFE Exam Prep Course, you will need to answer all questions correctly at least once and score at least an 85% on each practice exam section.
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. Current US CFE Exams being administered are the 2011 Edition (until 1/31/2013) and the 2012 Edition (until 1/31/2014). Please contact an ACFE Member Services Representative for other version expiration 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 in CD-ROM or Electronic Download formats. 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, you may load the CFE Exam Prep Course on two computers. Your “Current Status” will reflect all of your work done on multiple computers if you follow these directions. Choose Export Progress File from the side menu. Save a copy to your hard drive. Save a copy to a disk. Install the prep course on the second computer using the CD-Rom and the license key. On the second computer choose Import Progress File Choose the saved file from the 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 submitted your three CFE Candidate Recommendation Forms, proof of education and experience and are an Associate Member of the ACFE. When you have completed your CFE Exam Prep Course, select Request Exam Activation Key with in the course. We will send you by email the Exam Activation Key to access the CFE Exam within 3-5 business days. 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, Third Edition. CFE Exam Application Process How can I obtain a CFE Exam application? The CFE Exam application is available to download as a PDF file or you may submit your CFE Exam application form and payment online. In addition, applicants may request an application by contacting us, or by emailing MemberServices@ACFE.com. When should I turn in my CFE Exam application? We recommend your CFE Exam application and supporting documentation be submitted at least 30 days before you are ready to take the CFE Exam. You may submit your application and payment online, today, and provide the supporting documentation by email, fax, or mail to complete the CFE Exam application process. I submitted my CFE Exam application online, when can I take the CFE Exam? You will be eligible to take the CFE Exam upon receipt and processing of your 3 recommendation forms and documentation of education. Generally this process will take 3-5 business days. You will receive an email from the certification department once your application has been completed. What do you mean when you ask about “fraud-related experience”? Fraud-related experience means that you have worked full-time in a position that contributes to the prevention, detection or deterrence of fraud. Fields related to fraud include: Accounting and Auditing, Criminology or Sociology, Investigation Techniques, Loss Prevention and Law. If you are unsure if your experience qualifies, please submit a brief summary with your application for review or click here for a more detailed explanation of the necessary qualifications. I want to attain the CFE certification but I don't have two years experience. Can I still take the exam? Yes. You can study for and take the CFE Exam even if you do not have two years of practical experience, as long as you reach the 40 point minimum on Section 2 of the exam application. However, please note that you will not become officially certified until you do have at least two years of practical experience either directly or indirectly related to fraud. Click here for full details. How long is my CFE Exam application valid? We will keep your application on file for two years. If after two years you have not completed the CFE Exam, your application will be canceled and a new application, application fee and supporting documentation must be submitted. Why are CFE Candidate Recommendation forms required with the application? In order to maintain the high standards held by the ACFE and ensure the integrity of the CFE credential, it is important to ensure 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. How long are my CFE Candidate Recommendations forms valid? CFE Candidate Recommendations forms are good for 3 years from the date written. Should your forms expire before certification you will be contacted to provide updated ones. If I attend ACFE conferences or seminars, do I get additional points towards becoming a CFE? No. ACFE conferences, seminars and self-study courses will provide you with Continuing Professional Education (CPE) credits, but will not affect the exam point system of becoming a Certified Fraud Examiner. The CFE Exam Once I have completed my preparations for the CFE Exam, what do I do next? Make sure that you have completed all your paperwork (submitted your CFE Exam application, 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, select Request Exam Activation Key from within the CFE Exam Prep Course. We will send you the Exam Activation Key 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 Exam Activation Key by email. If you studied on your own, using the Fraud Examiners Manual, please contact us at Exam@ACFE.com to request your exam. We will mail you a CD-ROM of the CFE Exam. I submitted my key request before my application, when can I take the CFE Exam?You will be eligible to take the CFE Exam once your application and supporting documentation have been received and processed. Generally within 3-5 business days from processing you will receive your Exam Activation Key. Approximately how long should the CFE Exam take to complete? The CFE Exam consists of 500 questions divided into four sections: Fraud Examination and Investigation Techniques; Fraud Prevention; Financial Transactions; and Legal Elements of Fraud. Each question has a time limit of 75 seconds, and each section contains 125 questions (approximately 2.6 hours for completion). Although the total exam time is approximately 10 hours, applicants have 30 days from initiation of the exam program to finish. Applicants may take each section of the exam at their own convenience, as long as all sections are complete by the end of 30 days. How will I know if I pass or fail the exam? You will need to submit your completed exam to the ACFE for review. To submit your exam you will select the Submit CFE Exam button that is available once you have completed all exam sections. Please remember to scan and email, fax, or mail your exam affidavit verifying your completion of the exam; you will receive a link to the exam affidavit from the ACFE with your CFE Exam access code and CFE Exam results email. If I have to retake an exam section, what is the cost? CFE Exam Prep Course students who are utilizing the Money-Back Pass Guarantee will not have to pay to retake failed sections. All other exam applicants may retake the CFE Exam for $25 per section. 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 sittings. When will I receive my CFE certificate once I have passed the CFE Exam? Your entire application, including your successful passing of the exam, will be submitted to the Certification Committee of the ACFE. You should receive notification of your certification status within 3-5 business days of passing the CFE Exam. Your CFE certificate will be mailed to you within 4 - 6 weeks of certification. Can I qualify out of certain sections of the CFE Exam based on my experience? No. Each CFE candidate must take and pass all four sections of the CFE Exam.
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