• The Certified Fraud Examiner (CFE)
• The CFE Exam
• The CFE Exam Application Process
• The CFE Exam Prep Course Software

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?

The only products offered by the ACFE specifically as preparation for the CFE Exam are the CFE Exam Prep Course and the Fraud Examiners Manual. Other self-study course materials, seminars and publications might aid you in your preparation, but are not required.

• 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, Second 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, Second 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 Prep Course. However, users are encouraged to review these additional references if more information is needed.
  
  
• Study with the CFE Exam Prep Course, a computer self-study course produced by the ACFE. Available in US, Canadian, International and UK editions, the CFE Exam Prep Course mirrors the format of the actual exam and comes with a Money-Back Pass Guarantee. The Fraud Examiners Manual is included on the CD-ROM with the Prep Course for quick and convenient reference.

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, 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 7-10 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 exam. We will mail you a CD-ROM of the CFE Exam.

• 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 and Deterrence; 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?

Once you have completed the exam, submit it to us by email. To email CFE Exam results, go to the Utilities menu of the exam program and choose "Export Results." Save this file to your computer and email a copy to exam@ACFE.com. Your exam will be graded at the ACFE and you will be notified of pass or fail by email within 3-5 business days. The ACFE will also inform you at this time if there are any outstanding documents or invoices that will delay your certification. You must mail or fax your examinee affidavit verifying your completion of the exam.

• If I have to retake an exam section, what is the cost?

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 one section of the exam for US $40, two sections for US $75, three or four sections for US $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 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.

CFE Exam Application Process

• How can I obtain a CFE Exam application?

Applicants may request an application by contacting us, or by e-mailing membership@ACFE.com. The CFE application is also available to download as a PDF file.

• When should I turn in my CFE application? Do I need to turn in all my documents at once or can I send them separately?

We recommend your CFE Exam application be submitted at least 30 days before you are ready to take the CFE Exam. Fill out the CFE Exam application and submit it, along with proof of your education and three CFE Candidate Recommendation Forms to the Certification Department at ACFE Headquarters. Incomplete applications will not be processed until all the documentation has been received.

• 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.

• 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.

• 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 CFE.

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 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.

• How much does the CFE Exam Prep Course cost?

The full price of the CFE Exam Prep Course is US $895 plus shipping and handling. Associate Members receive a discounted member price of $715 plus shipping and handling. Members also have the option of paying for the Prep Course with our Members-Only Installment Plan, a total cost of $750 (including shipping UPS Ground and administrative fee) paying six monthly payments of $125 each (credit card payments only). Applicants who have already applied and paid for the CFE Exam receive a US $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 $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. 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. 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 export your information after completing the Prep Course and return it to the ACFE by e-mail at exam@ACFE.com. The CFE Exam Prep Course is complete once you have answered all 1,500 questions correctly and scored at least 85% on each practice test.
• You must take the CFE Exam within 90 days of completing the CFE Exam Prep Course. Completion date is recorded automatically by the software the day of the last completed 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 exams being administered are the 2008 Edition (until 12/31/2009) and the 2009 Edition (until 12/31/2010). 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.