CFE EXAM Coach Newsletter
March 2013

Dear John Smith,


Everyone has a different learning style that works best for them. Some people find success studying on their own, but many prefer face-to-face instruction. If you are best motivated in a live classroom environment that allows you to ask questions and bounce ideas off others, the ACFE has a course just for you. The CFE Exam Review Course is a 3½-day, instructor-led learning event that will provide you with the essentials you need 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.


Participants have on-site access to coaching and counseling from ACFE instructors as well as the CFE Exam Coach. Contact me to learn more today!



CFE EXAM Coach Newsletter
CFE EXAM Coach NewsletterAngela R. Archie, CFE

Study Tips

TIP #1 - Decide how soon you can start studying. Preparing for an exam begins with a conscious decision to start studying. We recommend that you begin studying with your strongest area to develop a comfort level with the material and the Prep Course.

TIP #2 - Answer all questions to the best of your knowledge. You should guess when you are not sure. Why? Because if there are four answer options, you have a one-in-four chance of getting that question right. If you have ruled out one or two options as wrong, your chances are even higher. But if you do not guess, you have no chance at all. If you guess five times, you might get one or two more right.

TIP #3 - If you are having difficulty with a question, mark that question. Marking a question allows you to go back and review it at anytime. When you are ready to review your marked questions, please note that the program will only present those questions you have previously marked within the selected main section.



ACFE Program Director Bruce Dorris, J.D., CFE, CPA, CVA, offers advice on how to handle questions that may be challenging to you on the CFE Exam Prep Course.

TIP #4 - Tell Yourself That You Can Do It! Self-motivation is important. Reward yourself with positive thoughts when you complete a section. Think about your values and goals and decide if you are reaching them. Decide on your best learning process for the remaining sections. Believe that you can succeed, and you will.

Upcoming CFE Exam Review Courses


Atlanta, GA
May 20 - 23, 2013

Los Angeles, CA
July 22 - 25, 2013

Chicago, IL
August 26 - 29, 2013

Washington, DC
September 9 - 12, 2013

New York, NY
October 7 - 10, 2013

Austin, TX
November 4 - 7, 2013


CFE Highlight

This month we highlight CFE Exam Review Course participant Anna Fisher, CFE. Ms. Fisher shares her experience of how she prepared for the CFE Exam.

Congratulations to all members who became Certified Fraud Examiners in the last 60 days. More


Did You Know?

Practice exams are designed to test your knowledge in each of the four sections and simulate the experience of taking the CFE Exam. Each practice exam contains 125 questions. Like the CFE Exam, the practice exams are timed and you are allotted 75 seconds to answer each question. You may go back and change an answer for a previously completed question as long as there is time left on the question timer.

CFE EXAM Coach Newsletter
Prep Forum

Visit the CFE Exam/Prep Discussion Group to exchange ideas about studying for the CFE Exam. Log in to reply or post your own question. Take a look at recent posts:

Topic: CFE Exam Review Course

Post: Are we only allowed to request the exam key after we've successfully completed at least one practice test, or, can we request the key if we're certain that we'll successfully pass the practice exam in a matter of days?

I’m trying to avoid waiting too long to take my exam, since I only have a small window for my studies.

Thank you

Response: Thank you for your question. You can request the CFE Exam Key at any time; however, if you request it prior to answering all 1500 review questions correctly at least once and scoring 85% or higher on all 4 practice exams, you will automatically waive the Money-Back Pass Guarantee.

Also, once you have requested the CFE Exam Key (if your CFE Exam Application has already been approved) you will receive the key within 3-5 business days. Once you have received the Exam Key and have entered it into the software you will have 30 days to complete all 4 parts of the CFE Exam.

If you have any additional questions, please contact Member Services at 800-245-3321.

Best regards,

Justin Dillon, CFE
Assistant Member Services Manager
Association of Certified Fraud Examiners

Submitting Your CFE Application

  1. Fill out the certification application. You may also apply online by using the following link: Apply Online
  2. Include proof of your education.
  3. Include three CFE Candidate Recommendation Forms.
  4. Submit application and documents to Membership Admissions at ACFE Headquarters.
  5. Attach a passport-size photo of yourself to the application form.

Click here for more information about the application process.

Bookstore Feature

Financial Statement Fraud: Prevention and Detection

ACFE Member Price: U.S. $49 Non-Member Price: U.S. $79

CFE EXAM Coach Newsletter
Fraud IQ Test

IQ #1 - Change orders are often submitted along with draw requests. Although many times the change orders represent legitimate construction changes (for design, cost, or other things), they can also be indicators of fraud schemes. Which of the following is NOT a problem situation that may be concealed using change orders?


A. Shortcuts are shorting up other problems.
B. Design changes were requested.
C. The original project is not feasible.
D. Collusive bidding is occurring.


IQ #2 - SEC Staff Accounting Bulletin (SAB) Topic 13, Revenue Recognition, states that revenue is generally realized or realizable and earned when certain criteria are met. Which of the following is NOT one of these criteria?


A. Collectability is reasonably assured.
B. Persuasive evidence of an arrangement exists.
C. The seller's price to the buyer is fixed or determinable.
D. Delivery of goods or services has occurred or to occur within 30 days.


IQ #3 - The Identity Theft Red Flag regulations (commonly called the Red Flag Rules) require financial institutions and creditors to develop and implement a written theft prevention program to detect, prevent, and mitigate the risk of identity theft for their customers.

A. True
B. False



Online Courses

Now available in a convenient online format. Expand your anti-fraud knowledge with our comprehensive self-study CPE courses written by the ACFE Research Team and other anti-fraud experts.

These self-paced courses allow you the flexibility to study at anytime from anywhere you have Internet access.

Visit us online:


Contact The Coach

Ask questions or make suggestions. As your dedicated CFE Coach, I am available to answer all of your questions about the CFE Exam. You may send me an email or call me at (800) 245-3321 / +1 (512) 478-9000.



Get answers to the most frequently asked questions about the CFE Exam Prep Course, including tips on installing the program, exporting files and more.

Member Resources

Local Chapters
ACFE chapters are organized by members who reside in a particular geographic region (i.e., a city or country) and share an interest in the detection and deterrence of fraud.

Study Tip Archives
Click Here to view videos of study tips from previous editions of the CFE Exam Coach Newsletter.

Share This Resource
Discover what your local chapter can do for you! Click here for a list of ACFE Chapters around the world.

CFE EXAM Coach Newsletter

The Association of Certified Fraud Examiners is the world's largest anti-fraud organization and premier provider of anti-fraud training and education. Together with more than 65,000 members, the ACFE is reducing business fraud worldwide and inspiring public confidence in the integrity and objectivity within the profession.
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